Market likely to open higher on positive Asian stocks

Trading for the week is likely to begin on an upbeat note on positive Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 26.50 points at the opening bell.

Reliance Industries (RIL) said before market hours that RIL has scheduled a planned turnaround at its Nagothane manufacturing site. The cracker and some of the downstream units will be shut for approximately four weeks, starting around mid-January 2015. This opportunity will be used to carry out routine maintenance activities and for implementing other profit improvement and energy conservation measures. RIL's crackers and other downstream units at other locations will continue at normal levels of operations. With advance planning and inventory management, impact on external sales is likely to be minimal.

With respect to news article titled "SBI to raise Rs 4000 cr for BPCL's petrochemical plan" BPCL clarified after market hours on Friday, 26 December 2014, that the earlier disclosure dated 3rd December 2014 contains estimated capital cost of the project.

Key benchmark indices edged higher on Friday, 26 December 2014. The S&P BSE Sensex rose 33.17 points or 0.12% to settle at 27,241.78, its highest closing level since 23 December 2014.

Foreign portfolio investors (FPIs) bought shares worth a net Rs 39.97 crore on Friday, 26 December 2014, as per provisional data.

Asian stocks edged higher today, 29 December 2014. Key benchmark indices in Singapore, China, Taiwan, Hong Kong, Japan, Indonesia rose by 0.23% to 2.01%. South Korea's Seoul Composite fell 0.66%.

US stocks ended higher on Friday, 26 December 2014 with both the Dow Jones Industrial Average and S&P 500 indices closing at records in a broad rally, though trading was light with many market participants still out for the Christmas holiday.

Meanwhile, members of Greece's parliament will cast their ballots at noon in Athens with Samaras needing 180 votes in the 300-seat chamber to appoint his nominee, Stavros Dimas, as head of state. Failure to elect Dimas will lead to a general election in late January or early February, a few weeks before the nation's 240 billion euros ($292 billion) bailout expires.

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