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Markets are likely to open higher but gains are likely to be capped amid profit taking at higher levels.
At 8:30AM, the SGX Nifty was up 28 points at 7,168.
Asian markets were trading mixed on Wednesday shrugging of overnight gains in the US markets after both the Dow Jones and S&P 500 ending at record closing highs. Nikkei and Shanghai were trading marginally lower while Hang Seng and Straits Times were 0.3-0.9% each.
US stocks ended mixed on Tuesday with both the Dow Jones and S&P 500 ending at record closing highs but selling pressure in Cisco weighed on the Nasdaq. The Dow Jones ended up 20 points at 16,715, the broader S&P 500 ended 1 point up at 1,897 and the tech laden Nasdaq ended down 13 points at 4,130.
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Stocks in Focus
PSU banks will see some action following a Nayak Panel report unveiling radical reforms for Indian banks.
BHEL may weaken after sharp gains recently as fundamentals remain weak and margins continue to remain under pressure.
Bank of Baroda may see some gains after buy calls from various brokerages and raising of target prices post the fourth quarter numbers.
Vikram Akula’s desire to return to the board of SKS Microfinance, the only listed micro-lender in the country, appears to be over. SKS Trust, the sole trustee of the five mutual benefit trusts that collectively own 12.5 per cent stake in the microfinance company, will not persist with its request to induct Akula back on the micro-lender's board.
Tata Comm will be under pressure post its fourth quarter numbers on the back of mixed earnings with revenue below estimates.
Tech Mahindra will be in focus ahead of its results later today.
