Pre-market: Gap up opening on the horizon

The Indian markets are expected to witness a gap up opening today on the back of positive global cues. Overnight, the Dow Jones industrial average rose 179.82 points, or 1.47 per cent, to 12,397.38 and the S&P 500 Index added 19.46 points, or 1.55 per cent, to 1,277.06.

Asian stocks and the euro firmed on Wednesday, as investor risk appetite returned after upbeat US and European economic data boosted global shares and commodities. MSCI's broadest index of Asia Pacific shares outside Japan was up 0.6 per cent. Japan's Nikkei stock average opened up 1.11 per cent.

Back home, technical analysts suggest that the next logical target for the Nifty could be 4,925 – its medium-term (50-days) DMA. However, failure to sustain above 4,740 could increase the risk of re-test for 4,500. At 720 am Indian Standard Time, the SGX Nifty was trading at 4,788 levels, up 10 points.

Among individual stocks, RIL could be back in focus again today after the government approved its $1.53 billion investment plan for developing four  satellite fields in the flagging K-G-D-6 block.

SEBI has introduced two new methods to help companies comply with the minimum public shareholding norms. Watch out for Wipro, DLF and Mundra Port as their promoters will now be able to reduce their stake to 75 per cent through these routes.

Public sector lender Bank of Maharashtra has said that it expected a capital infusion by the government this fiscal as the bank had received a letter from the Finance Ministry in this regard. This could bring the stock back in focus today.