Markets may open higher; F&O expiry eyed

Markets are likely to open higher but may trade rangebound ahead of the expiry of August derivatives contracts today.

The movement of rupee and foreign fund flows would also largely drive the stock market.

At 800 hrs Indian Standard Time the SGX Nifty was up 46 points at 5,314.

According to technical experts, the Nifty may seek support around 5,210-5,160, while face resistance around 5,360-5,410.

Wall Street rose on Wednesday as energy shares rallied on higher oil prices as the United States and its allies edged closer to military action against Syria

On Wednesday stocks recouped some of the losses as traders bought energy stocks, which rose on a spike in oil prices as markets feared supply interruptions from the Middle East.

The Dow Jones industrial, Standard & Poor's 500 and Nasdaq Composite Index was up 0.3-0.4%.

Asian shares stabilised on Thursday after two days of steep losses as fears abated that U.S.-led forces would soon launch a military strike on Syria, and oil prices retreated from a six-month peak.

MSCI's broadest index of Asia-Pacific shares outside Japan up 0.1 percent after falling 2.2 percent in the previous two sessions. Japan's Nikkei share average advanced 0.5 percent.

STOCKS TO WATCH

The Odisha government has turned down Jindal Steel & Power Ltd (JSPL)’s proposal to acquire 49 per cent stake in Gopalpur Ports.

Titan Industries, now re-christened Titan Company Ltd, said it planned to widen its footprint in the personal lifestyle segment by venturing into new categories within the space.

Rashtriya Ispat Nigam will soon enter into a technological collaboration with Russia's Novolipetsk Steel Company to set up a plant for producing silicon steel, used in the power sector.

Essar Projects has secured a Rs 700 crore contract from Bharat Petroleum Corporation Ltd (BPCL).

Infosys said Ashok Vemuri, a member of the company's board of directors and head of its operations in the Americas, has resigned.

Videocon planning to roll out 4G services by July-August next year and is in talks with Nokia Siemens Networks for infrastructure.