Trends on SGX Nifty suggest that domestic indices are likely to trade in the positive territory on Thursday as sentiment remained buoyed across Asian markets. Market players are expected to track global cues, stock-specific action, oil price movement, and the Rupee's trajectory today.
Asian stocks perked up during the early morning trade on Thursday, as apparent progress in the political crises in Britain and Hong Kong gave investor confidence a shot in the arm.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.24%, while Japan's Nikkei was trading 1.5% higher. South Korea's Kospi, too, was up 0.95%.
On Wall Street, too, indices rebounded during the overnight trade on Wednesday. The Dow Jones rose 0.91%, the S&P 500 gained 1.08%, and the Nasdaq Composite added 1.3%.
In the commodities market, oil prices rose more than 4% on Wednesday, and Brent futures settled at $60.70 a barrel.
Stocks that are likely to remain in focus--
>> Shares of Reliance Industries will be under investors' radar as the company will commercially roll-out Reliance Jio Fiber plans today. According to media reports, the telecom operator is likely to provide free set-top box with its every broadband connection to woo direct-to-home and cable TV customers.
>> Shares of Wipro will be in focus today after the IT services company bagged an IT outsourcing contract worth around $300 million from ICICI Bank under which it would provide a comprehensive suite of services to the lender.
>> India could miss its fiscal deficit target for the current financial year, despite receiving an additional dividend from the central bank, government officials told News agency Reuters.
>> Moody's upgrades PNB's outlook to 'positive' from 'stable'
Here is a stock recommendation by Tradebulls Securities --
The brokerage recommends BUYING Bharat Electronics at current market price, with a target price of Rs 115. Stop-loss has been placed at Rs 100.