Markets may open higher; HDFC, HCL Tech in focus

Selling by FIIs continued; sold Indian equities worth Rs 335.24 crore on Monday

Markets are likely to open with marginal gains tracking the mixed trends in their Asian peers. Some volatility may be expected later in the session as traders roll over positions in the futures & options (F&O) segment from December 2014 series to January 2015 series on Wednesday.
 
At 8:25AM, the early indicator SGX Nifty was up 20 points at 8,354.
 
Meanwhile, selling by foreign institutional investors continued and they were net sellers in Indian equities worth Rs 335.24 crore on Monday, as per provisional stock exchange data
 

Asian stocks are trading mixed. Shanghai Composite has lost more than 1% while Hang Seng is trading flat. Japanese markets are closed today on account of a holiday. Overnight US markets ended higher for fourth straight session boosted by strong gains in technology shares which helped offset losses in energy stocks. Sentiments were boosted on speculations that the European Central Bank is set to start buying euro government bonds and news of political stability in Greece. Dow Jones Industrial Average gaining 0.9% and S&P 500 index gaining 0.3% ended at record-closing highs while Nasdaq Composite gained 0.3%.

 
Stocks to watch
 
HDFC wll be in focus after the mortage lender launched a fixed interest rate home loan product for a limited period as part of New Year celebrations to attract customers.
 
SpiceJet will be in focus on media reports that the company is talking to a couple of US private-equity investors and is hopeful of them injecting money into the cash-strapped airline within the next month and half.
 
HCL Tech is in news ater saying in its pre-quarter earnings (for the quarter ending December, 2014) briefing note that the earnings for the quarter will be impacted by 215 basis points due to strengthening dollar.

 
Allahabad Bank is in news after gaining approval of its plan for raising capital from various means including qualified institutional placement (QIP)
 
Jet Airways is in focus after announcing on Monday that it has concluded a five-year syndicated loan facility of $150 million (over Rs. 950 crore). The loan facility was fully subscribed to by banks spread across the West Asia region, the airline said in a release.