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Markets are likely to open on a flat note amid muted trends in select Asian peers. Though, benchmark indices may recover later in the session as overall global cues are firm.
At 8:20AM, the early indicator SGX Nifty was up 13 points at 8,590.
Meanwhile, foreign institutional investors were net buyers in Indian equities worth Rs 391.07 crore on Wednesday, as per provisional stock exchange data
Among Asian markets, Nikkei has gained around 0.8% on hopes of President Abe gaining a new mandate for his ‘Abenomics’ economics policies in the December election.
Chinese shares have gained on expectations of further stimulus measures from Chinese authorities. Hang Seng and Shanghai Indices have gained around 0.5% and 0.8% each.
Overnight, in the US markets Dow Jones and S&P 500 indices ended at record-closing highs. Data from private-payrolls and services sector re-affirmed the resilience of US economy which boostd cyclical stocks. Dow Jones Industrial gained 0.1% while S&P 500 and Nasadaq indices gained around 0.4% each.
Stocks to watch
ICICI Bank will be in focus as the stock turns ex-stock split today. Shareholders would be entitled to receive five equity shares of nominal value of Rs. 2/- each in lieu of one equity share of nominal value of Rs. 10/- each of the Bank.
Also, the bank is in news on reducing interest rates on retail term deposits along with HDFC Bank.
Ranbaxy may come under pressure as Germany has barred the export of antibiotic Cephalosporin from company's Madhya Pradesh plant.
SAIL will be in focus as government has decided to kick-start the divestment process from tomorrow by selling 5% of its stake in the steel major.
Realty stocks will be in focus as the government on Wednesday eased foreign direct investment (FDI) norms for the construction development sector.
Nestle India turns ex-dividend today for third interim dividend of Rs 8 per share for the year ended 31 December 2014.
Strides Arcolab will be in focus as its wholly-owned subsidiary Stelis Biopharma has announced the ground-breaking for construction of its customised, multi-product, biopharmaceutical manufacturing facility at Bio-Xcell Biotechnology Park in Nusajaya, Johor, Malaysia's park and ecosystem for industrial and healthcare biotechnology.
Suven Life Sciences will be in focus on plans to raise Rs 200 crore through Qualified Institutional Placement (QIP) route
