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India's benchmark share indices are likely to open marginally higher but gains may be capped amid profit taking at higher levels
Stocks in Asia pared early gains and were trading mixed on Tuesday with China's Shanghai Composite losing the most. The Nikkei was trading flat while the Straits Times was up 0.1%. China's Shanghai Composite was down nearly 1% while Hang Seng was down 0.7%.
At 8:15AM Indian Standard Time the SGX Nifty was down 5 points at 6,348.
Stocks on Wall Street ended with marginal gains amid a volatile trading session on Monday.
The Dow Jones industrial average ended up 24 points, or 0.1%, to end at 15,639.12. The Standard & Poor's 500 Index closed 6 points, or 0.4% higher, at 1,767.93. The Nasdaq Composite Index edged up 15 points or 0,4%, to end the session at 3,936.59.
Key European shares ended higher on Monday on better-than-expected manufacturing PMI from Germany, UK construction PMI jumped to a 6-year high in October. The CAC-40 gained 15 points to end at 4,288.59, the DAX rose 29 points to end at 9,037.23 while the FTSE-100 ended 29 points higher at 6,763.62.
STOCKS TO WATCH
Index heavyweight Reliance Industries will be in action after the company Ltd (RIL) has refused to sign a petroleum ministry-sponsored resolution rejecting a revised investment plan for the main gas fields in the KG-D6 block, saying it did not reflect deliberations on the issue.
The KG-D6 block oversight panel, headed by the directorate general of hydrocarbons, had on October 1 considered the reasons stated by RIL for lowering reserves in the producing Dhirubhai-1 and 3 gas fields in KG-D6 to 3.4 trillion cubic feet.
Wilmar International, a Singapore-based agribusiness group, has initiated talks to buy a stake in sugar refiner Shree Renuka Sugars. Sources familiar with the matter say Wilmar is keen on buying a majority stake in the Indian company, which is looking at various options to ease its Rs 8,400 crore debt burden.
Punj Lloyd will see some pressure after the company reported a huge loss of Rs 67.08 crore for the second quarter ended Sep 30, 2013 compared with a loss of Rs 17.92 crore in the same quarter last fiscal.
Ashok Leyland will be in action ahead of its second quarter results on Wednesday.
IL&FS Engg and Construction may extend gains after the company said it has received a letter of award for the construction of a high-rise buildings in central Mumbai for Rs 675 crore.
BHEL will be in action ahead of its Q2 earnings on Wednesday.
