Markets likely to open flat following mixed global cues

The possibility of a rate cut by the central bank and the declining oil prices could boost the sentiment of traders.

Markets are likely to open flat with positive bias following mixed cues from the global peers amid optimism over Greece situation and concerns over volatility in the Chinese equities.

On Wednesday, the Sensex ended at 28,198, up 265 points or 0.9% and Nifty closed at 8,523, higher by 69 points.

The possibility of a rate cut by the central bank and the declining oil prices could boost the sentiment of the market participants. However, the concerns over monsoon for the month could loom on Dalal Street.

Meanwhile, on the global front, the US Fed Chair Janet Yellen signalled of a possible rate hike this year provided the labour market and the US economy is on track of improvement. The Greece parliament approved the austerity measures to keep Greece in the euro zone.   

GLOBAL MARKETS

Asian stocks were mostly higher on Thursday after the Greek parliament approved a bailout plan while the dollar stood tall after Federal Reserve Chair Janet Yellen reinforced expectations for a U.S. rate hike.

Japan’s Nikkei is trading 0.48% higher while Hang Seng is 0.28%. Shanghai Composite is trading 0.2% higher.

US markets closed marginally lower on Wednesday while European markets were marginally higher.

SGX Nifty is flat with 0.04% gains.

STOCKS TO WATCH

Adani Power: bags 3 transmission projects worth Rs 3,666 cr aimed at strengthening power evacuation in Chhattisgarh

GAIL (India) Ltd: has agreed to sell 2 million tonne of liquefied natural gas (LNG) per year out of its US portfolio

Hero Motocorp: reported a 6% increase in the revenue when it sold 6.6 million units in 2014-15. The two -wheeler major also plans to launch two new versions of bikes.

Bharti Infratel:  is in advanced talks with Vodafone and Idea Cellular to buy out their telecom towers at a valuation of up to $1.6 billion

IOC, BPCL, HPCL: Petrol and Diesel prices were cut by Rs. 2, effective midnight Wednesday, following reduction in global crude prices.

DB Corp, Mindtree: would announce their Q1 results for FY16

Tata Steel: The on-going battle between the trade unions and the UK-arm of Tata Steel has come to an end with all the four trade unions accepting the proposals for changes to the British Steel Pension Scheme that will keep it open.

With Reuters input