An upswing in the global markets is likely to impact the investors back home today who will also track corporate results, macro data and stock-specific action for further cues.
All eyes will be on Infosys today which is scheduled to announce its December quarter numbers later in the day. The IT service provider is expected to post revenue growth of 0.9 per cent to 2.1 per cent on a sequential basis for the quarter ended December 31. This could mainly be on account of the company’s cross-currency gains and business transfer of Eishtec in Ireland.
On the macroeconomic front, the industrial production data for November will be announced today.
In stock-specific action, Bharti Airtel's fundraising exercise was subscribed by more than three times, garnering pledges of over $10 billion.
YES Bank will also be in focus ahead of today's board meet to consider and approve the right issue of equity shares, issue of warrants and the preferential issue of shares.
Besides, oil prices, the Rupee's trajectory, and foreign fund flow will continue to impact sentiment.
Globally, major US stock indexes registered record closing highs on Thursday as optimism about a US-China trade deal firmed and tensions between the United States and Iran eased. Adding to the positive sentiment, Britain's parliament finally approved Brexit.
The Dow Jones Industrial Average rose 0.74 per cent, the S&P 500 gained 0.67 per cent, and the Nasdaq Composite added 0.81 per cent. In Asia, Japan's Nikkei rose 0.43 per cent while Australian stocks rallied 0.67 per cent to a record high. SGX Nifty, though, was indicating a flat start for the domestic indices.
In commodities, oil prices dropped on Friday extending days of losses. Brent crude was down 14 cents at $65.23, after falling more than 4 per cent over the last two days.
Back home, the benchmark indices -- Sensex and Nifty -- rose 1.5 per cent each on Thursday and registered their biggest single-day stride since October 23, 2019.
With this positive close, the Nifty has given a clear buy crossover in its daily as well as weekly momentum indicator. According to analysts, traders should look to buy Nifty for the target of 12,300 with stop-loss at 12,125.
And in the end, here's a stock idea by Anand Rathi Shares and Stock Brokers which recommends buying Hindustan Unilever at current market price for the target of Rs 2,000 with stop-loss at Rs 1,910.