Markets may open flat; PSBs, OMCs in focus

Two-day bankers retreat in Pune, 'Gyan Sangam' starts from today; consolidation in PSBs to be discussed

Benchmark indices are likely to open on a flat note tracking the subdued trends in select Asian peers. Trading is likely to remain largely range bound in today's session given the lack of strong directional cues.
 
At 8:30AM, the early indicator SGX Nifty was flat at 8,352.
 
The government on Thursday raised the excise duties on petrol and diesel by Rs 2 a litre to fund an “ambitious infrastructure development programme” this and the next financial year, including 15,000 km of road construction.
 

'Gyan Sangam,'a two-day conclave of bankers and insurers starts from today at Pune. The retreat will be attended by the Prime Minister and RBI Governor along with the chiefs of financial institutions to discuss issues like financial inclusion, direct benefits transfer and consolidation in public sector banks.

 
For the month of December 2014 India’s HSBC Manufacturing PMI compiled by Markit Economics will be released on today along with the HSBC PMI of Eurozone, US and France.
 
Meanwhile, foreign institutional investors were net buyers in Indian equities worth Rs 18.20 crore on Thursday, as per provisional stock exchange data.
 
Among Asian markets, Hang Seng index is trading higher by 0.6% while Strait Times index is flat. US markets were closed yesterday for the New Year Holiday.
 
Stocks to watch
 
ICICI Bank will be in focus as according to media reports it has hiked interest rates on wholesale term deposits by 15 basis points (bps) on Thursday.

 
Stocks of Public Sector Banks (PSBs) will be in focus ahead of the two-day bankers' retreat in Pune where consolidation among the PSBs is to be discussed among other financial matters.
 
From the auto pack, Hero Motocorp and TVS Motor Company will be in focus as traders react to the December sales numbers of these companies.
 
Oil marketing companies, IOC, HPCL and BPCL will be in focus after the government on Thursday raised the excise duties on petrol and diesel by Rs 2 a litre.
 
Companies involved in road construction works like, IRB Infra and Sadbhav Engineering may attract investors as the proceeds from the hike in excise duty on petrol and diesel is going to be allocated to fund an “ambitious infrastructure development programme” this and the next financial year, including 15,000 km of road construction.