Cues to watch for before markets open on Jan 23

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Cues to watch for before markets open on Jan 23
Indian markets are expected to open marginally lower in trade on the back of weak global cues. The Sensex closed at a record closing high of 21,338 points on Wednesday. The SGX Nifty is suggesting a cut of around 15 points in opening trade. Asian markets are mostly trading lower with the Hang Sang seeing a sizeable cut of more than 1 per cent.

In the US, the Dow Jones Industrial Average closed lower, while the S&P 500 closed marginally higher.

In individual stock action watch out for the shares of Larsen and Toubro which will react to its numbers, which were delivered after close of market hours. The results were largely in line with expectations.

Raymond also reported results that were largely in line with expectations. Cairn India will report results today and one should watch out for the stock which maybe volatile ahead of earnings.

Also, banking stocks may continue to be active in trade today, a few days ahead of the Monetary Policy. Apart from Cairn India other stocks that are likely to declare results today include NRB, Novartis and Indiabulls Securities.

So, watch out for these stocks.

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