Pre-Market: Shares seen opening higher; Sterlite Q4 eyed

Markets are expected to open on a positive note after Friday’s sell-off.

Global risk appetite was frail after recent disappointing growth data from the US, China and the euro zone.

At 08:30AM IST, SGX Nifty traded up 17 points at 5,899.00.

Asian shares traded mixed on back of lower volume as Japanese markets closed for a holiday and China off until Thursday.

The MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent, but off a six-week high touched on Friday.

Among the key Asian indices, Hong Kong’s Hang Seng declined 0.1 % to 22,528, Singapore’s Straits Times rose 0.25% at 3,357.69 in the opening deals.

On Friday, US stocks dropped after weak gross domestic product report but closed on a flat note on account of bargain-hunting by traders.

The Dow Jones industrial average  rose 11.75 points or 0.08 percent, to 14,712.55, the S&P 500  lost 2.92 points or 0.18 percent, to 1,582.24 and the Nasdaq Composite  dropped 10.72 points or 0.33 percent, to 3,279.26.

Domestically, in the earnings calendar, we have Hexaware Technologies, Sterlite Industries Exide Industries, ING Vysya Bank and Shree Cement which are slated to announce their fourth quarter performances today.

Following stocks are expected to move on the exchanges today:

Power equipment major Bharat Heavy Electricals Ltd (BHEL) has bagged Rs 4051 crore contract from state controlled Odisha Power Generation Corporation Ltd (OPGC) for supply and erection of the main plant for 1320 Mw capacity expansion pursued by the thermal power producer.

Steel giant Tata Steel has reportedly warned the British government that it plans to shut down two research and development facilities in the country and shift them overseas including to India, resulting in 300-400 job cuts in the UK.  

Jewellery companies may move after the government raised the tariff value of gold to $472 per 10 grams on account of a volatile price trend in global markets.