Markets may open tad higher, FII trend key

Markets may open marginally higher tracking positive Asian cues.

Markets may react to the economic growth data that was announced post market hours on Friday. The movement of rupee and foreign fund flows would drive the stock market this week.

At 800 hrs Indian Standard Time the SGX Nifty was up 2 points at 5,447.

According to technical experts, the Nifty may seek support around 5,420-5,390, while face resistance around 5,520-5,555.

Wall Street shares fell on Friday to mark their steepest decline since May 2012 amid uncertainty over the possibility of U.S.-led military intervention in the Syrian conflict.

The Dow Jones industrial, Standard & Poor's 500 and Nasdaq Composite Index were down 0.3-1%.

Asian shares, the Australian dollar and copper prices rose on Monday while the yen fell as hopes grew that China may have halted a sharp economic slowdown after factory activity data expanded at the fastest pace in more than a year in August.

MSCI's broadest index of Asia-Pacific shares outside Japan. Japan's benchmark Nikkei gained 0.8 percent.

STOCKS TO WATCH

Petrol price was raised by Rs 2.35 a litre and diesel got its monthly dose of 50 paise increase per litre on Saturday. Watch out for OMCs.

IDFC and Singapore-based Temasek, along with a clutch of PE investors, might convert their $300-million-odd investment in GMR Infrastructure and GMR Energy into equity.

M&M reported 17.32% decrease in its total sales at 37,897 units in August, 2013.

ONGC Videsh reported a 72% jump in its net profit in the June quarter on the back of higher crude oil and natural gas output.

India's pharmaceuticals sector has received FDI of $1 billion, the highest among the top 10 segments, during the April-June period this year.

Tata Steel plans to increase local sales to 8.5 million tonnes in the current financial year amid hopes prices will rise as demand picks up following the monsoon season.