Markets likely to open higher; SBI, SpiceJet in focus

The early indicator, SGX Nifty has gained 24 points at 8,448 levels

Markets are likely to make a positive opening tracking firm Asian cues. The early indicator, SGX Nifty has gained 24 points at 8,448.

Rising tensions in the West Asia, liquidity conditions in the market and overall investment trend of foreign funds will largely dictate trend on the bourses in this holiday shortened week, say experts.

According to market analysts, the coming week is likely to witnesses some liquidity crunch as banks and debt/FX markets will be closed on April 2 for Mahavir Jayanti and then April 3 for Good Friday.

On the economic front, HSBC India Manufacturing Purchasing Managers' Index (PMI) for March 2015 is due this week. Moreover, the government would unveil eight core infrastructure industries data for February and unveil fiscal deficit data on Tuesday.

STOCKS TO WATCH

State-owned iron ore miner NMDC Limited will complete the construction of its 3-million tonnes per annum (mtpa) integrated steel plant at Nagarnar in Chhattisgarh by 2016.

Country's largest lender State Bank of India has received all necessary approvals to buy residential properties of cash-starved national carrier, Air India, in south Mumbai for Rs 90 crore.

State-owned Union Bank of India has deferred its plan to raise Rs 1,386 crore fund through qualified institutional placement (QIP) to the next fiscal.

SpiceJet plans to lease seven more Boeing 737 aircraft by May while another Rs 500 crore is expected to be infused by its new owner Ajay Singh next month.