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Markets are expected to open higher, after Monday’s sharp sell-off, tracking firm global cues.
Meanwhile Asian shares rose in early trades after U.S. job creation accelerated in June raising hopes of growth recovery in world’s biggest economy.
“Nifty has closed below the 200-day average. It has good amount of retracement support at 5,760 levels. Sustained trade above 5,850 levels will be positive for the markets, in that case market can extend the gains to the tune of 5,940 and 5,970 level,” said Shrikant Chouhan, Head- Technical Research, Kotak Securities.
At 8:30AM IST, SGX Nifty was up 33 points at 5858.
U.S. employers added 195,000 new jobs to their payrolls last month, beating expectations of 165,000
Among the key Asian indices, Japan’s Nikkei was up 0.8% to 14,229, Singapore’s Straits Times gained 0.3% to 3,166 while China’s Shanghai Composite was tad down to 1,958 in the opening deals.
Overnight, US stocks rallied after Friday’s upbeat employment report that pushed S&P to end at this all-time high set in May.
The Dow Jones industrial average gained 88.85 points, or 0.59 percent, to end at 15,224.69. The Standard & Poor's 500 Index rose 8.57 points, or 0.53 percent, to 1,640.46. The Nasdaq Composite Index added 5.45 points, or 0.16 percent, to close at 3,484.83.
Following stocks are expected to move on the exchanges today:
Maruti Suzuki, the country’s largest car maker, Maruti Suzuki India Ltd, slashed production by around 25 per cent in June.
Alstom T&D India has been awarded a contract by Bajaj Infrastructure Development Company, to supply e-BoP (Electrical Balance of Plant) solution for their upcoming 3x660 MW Super Thermal Power Project (TPP) in Lalitpur, Uttar Pradesh.
State-owned Life Insurance Corporation of India (LIC) has acquired equity shares amounting to Rs 1,069 crore (4.38 million shares) in the IT heavyweight Infosys during the quarter ended June 2013, data shows.
