Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 26 points or 0.24 %. Nifty futures were trading around 10,867-level on the Singaporean Exchange.
The Nifty50 is likely to open higher on Thursday following positive trend seen in other Asian markets. The index closed 91 points lower at 10,831 on Wednesday.
Piyush Goyal has been named the interim Finance Minister and interim Minister of Corporate Affairs during Arun Jaitley's indisposition.
Wall Street ended slightly higher on Wednesday after a spate of upbeat earnings reports, but lingering concerns about trade tensions and the longest US government shutdown ever limited the advance, said a Reuters report.
Asian shares rose on Thursday after Wall Street end higher, but gains were capped by political uncertainty in the United States and worries about weakening global economic growth, it said.
On the earnings front, 69 companies will report results for the quarter ended December later today which include names like Biocon, Yes Bank, UltraTech Cements, Colgate Palmolive, PNB Housing Finance etc.
Stocks in news:
Debt-ridden telecom firm Reliance Communications on Wednesday said it will not be paying the fourth installment of Rs 375 crore principal amount on non-convertible debenture, which is due on February 7.
Liquor major United Spirits on Wednesday reported a 42.83 % increase in its standalone net profit to Rs 192.4 crore for the quarter ended December 31 backed by a healthy sales growth.
Tower company Bharti Infratel on Wednesday posted an 11 % rise in consolidated net profit at Rs 648 crore for the December quarter.
Technical Recommendations:
We spoke to Bonanza Portfolio and here’s what they have to recommend:
Dishman Carbogen: Buy| LTP: Rs.219.25 | Target: Rs 240| Stop Loss: Rs.212| Return 9.50%
Tata Steel: BUY| LTP: Rs.464.60 | Target Rs 505| Stop Loss: Rs.445| Return 8.60%
D-Mart: Buy| LTP: Rs.1397.30 | Target: Rs 1470-1500| Stop Loss: Rs.1349| Return 7%
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