Markets likely to open positive; SGX Nifty up 38 pts

Larsen & Toubro and Petronet LNG are expected to report second quarter earnings today

Markets are likely to open higher tracking positive global cues. The early indicator, SGX Nifty was up 38 points at 6,108 at 0815 hrs.

The S&P 500 closed at a record high on Thursday as investor confidence grew following a last-minute deal to avoid a US default, but weaker-than-expected results from heavyweights IBM and Goldman Sachs pressured the Dow.

The dollar languished near an eight-month low versus the euro on Friday as investors counted the costs of a two-week U.S. government shutdown, with markets now seeking clues to when the Federal Reserve would begin reducing its stimulus programme.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 percent to a near five-month high, adding to a 0.6 percent rise in the previous session.

Larsen & Toubro and Petronet LNG are expected to report second quarter earnings today.

STOCKS TO WATCH

Bharti Airtel has increased its stake in Wireless Business Services (WBSPL) to 93.45% at an estimated cost of about Rs 875 crore.

Gujarat NRE Coking Coal approved Jindal Steel & Power Ltd proposal to acquire the majority stake of 53.62% in the former.

IL&FS Engineering and Construction Company Limited (IL&FS Engineering Services), has received an LoA (letter of award) from Paschimanchal Vidyut Vitran Nigam Limited for rural electrification (RE) works in Bulandshahr district of Uttar Pradesh.