Pre-Market: Shares may witness gap-up opening

Markets are likely to open higher tracking firm global cues. Investors will also cheer the appointment of Raghuram Rajan as 23rd RBI Governor who has raised hopes of new action plans to revive the economy.

New Reserve Bank of India (RBI) chief Raghuram Rajan kicked-off his term with a bang yesterday, announcing a spate of measures to support the embattled rupee and unveiling a raft of steps to liberalise financial markets and the banking sector.

The rupee is expected to strengthen today.

US Stocks rose for a second day on Wednesday as a possible military action in Syria was seen as limited and strong auto sales lifted investor confidence in the U.S. economy.

The Dow Jones industrial, Standard & Poor's 500 and Nasdaq Composite Index was up 1%.

Asian stocks edged up on Thursday following a positive lead from Wall Street, while fresh measures to shore up the rupee unveiled by India's new central bank chief could set a positive tone for emerging markets throughout the region.

MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.2 percent, Tokyo's Nikkei put on 0.3 percent, extending Wednesday's 0.5 percent gain.

At 800 hrs Indian Standard Time the SGX Nifty was up 110 points at 5,551.

STOCKS TO WATCH

ONGC, along with Shell India, is in talks with Nagarjuna Oil Corporation for a strategic stake in Nagarjuna’s Cuddalore refinery.

GSPC Gas Company hiked prices of CNG by Rs 3 per kg, and of industrial gas by over Rs 1.90 per standard cubic metre.

TCS has bagged a multi-million dollar project from Macau's leading telecom service provider CTM for deploying rating and billing system.

Swiss Finance Corporation picked up a total of 55.30 lakh shares of Apollo Tyres yesterday for nearly Rs 36 crore through open market transactions.

JSW Steel & JSPL will for the first time compete directly with each other as they prepare to bid for the Indian assets of UK-based Stemcor.

HCL Tech bagged a contract from Direct Energy, a North American energy services firm.