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Domestic cues will take centrestage today with the markets reacting to the outcome of the Karnataka Assembly polls, seen by experts as a run-up to the general elections scheduled for 2014. Supreme Court of India’s observations regarding the coal scam will also impact sentiment.
As per the F&O segment data, concentration in Nifty calls is shifting to a higher strike at 6,200 levels, which is a bullish
signal, said Shashank Mehta, derivatives strategist at broking firm Shah Investor’s Home.
Major stock indexes in Germany and the United States hit all-time high level on Tuesday after data bolstered expectations that Germany has returned to growth, and a successful bond sale in Portugal indicated the country is on track to exit its bailout.
The Dow Jones industrial average rose 0.58% to close at a record 15,056, while the S-and-P Poor’s 500 Index gained 0.52% to end at 1,626 levels.
Asian markets were trading higher on Wednesday, with Nikkei and Hang Seng gaining 0.8 and 0.7% respectively.
At 705am Indian Standard Time, the SGX Nifty was trading at 6,078 – up 0.4%.
Back home, among individual stocks, keep a tab on Shriram Transport, as the company has reported 15% rise in March quarter net profit.
Allahabad Bank, on the other hand, posted 68.5% dip in net profit at Rs 126.15 crore on account of rise in bad loans.
DLF is planning to sell up to 81 million shares and has mandated eight banks for the institutional placement sale, reports suggest.
HDFC, Ranbaxy, Corporation Bank, ABB and SKS Microfinance are some of the companies that will announce their respective March quarter results today.
