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Markets are likely to open higher tracking gains in their Asian peers and sharp overnight gains on Wall Street.
At 8:30AM, the early indicator SGX Nifty was up 34 points at 7,931.
Asian stocks firmed up tracking overnight gains on Wall Street and weakness in the dollar after the minutes of the latest Fed meeting highlighted worries over downside risks to the global economy. Shares in Japan edged higher but a stronger yen capped upside gains. The Nikkei was up 0.5%. Shares in Hong Kong rebounded after recent correction and the Hang Seng was up 1.2% while Shanghai Composite was up 0.1% and Straits Times was up 0.8%.
Major US stock indices surged nearly 2% as the minutes of the September meeting indicated that the US Federal Reserve would not hike interest rates for a "considerable time". The S&P 500 and Nasdaq recorded their biggest single-day gains since October 2013. The Dow Jones ended up 275 points at 16,994.22, the broader S&P 500 ended up 34 points at 1,968.89 and the tech-laden Nasdaq closed 83 points higher at 4,468.59.
Stocks to watch
BHEL will be in focus after the company received a huge EPC order for 2x660MW rating Supercritical Power Project from TN Generation and Distribution Corp Ltd valued at Rs 7,800 crore.
Ramco Systems will see some action after it bagged an order, for providing Ramco’s Aviation solution and related services, from a leading provider of aerial services headquartered in the UK, for an order value of above USD 3 million for a period of five years.
Hindustan Zinc will be in action as the SC will hear the plea filed by the employees association against the divestment in the company.
8K Miles Software is likely to edge higher on the back of robust second quarter earnings. The company posted a net profit of Rs 4.98 crore against Rs 3.52 crore in the previous quarter.
Maharashtra Seamless will be in focus after the company which completed 25 years said it has started exports of its products to the US.
