Cues to note before markets open on Jan 8

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 Cues to note before markets open on Jan 8
The US markets staged a smart rally on Tuesday, which has pushed stocks across Asia higher. The Japanese Nikkei is up more then 1 per cent, while the Hong Kong's Hang Sang is trading 0.8 per cent higher and the Strait Times is up 0.50 per cent.

The SGX Nifty suggests a strong opening for the Indian indices. The SGX Nifty is currently up 15 points. Foreign institutional investors continue to remain sellers in Indian stocks with them pressing sales of more then Rs 500 crores on Tuesday. It will be interesting to see what they do on Wednesday.

In stock specific action, one would need to watch out for Infosys ahead of its results on Friday. The stock has been falling in the last two trading sessions.

Also, watch out for National Mineral Development Corporation, a government owned company which has seen production increase substantially in the quarter ending Dec 2013.

MTNL which rallied strongly on Tuesday may again be in the limelight after the Cabinet on January 9 is likely to discuss a refund to the company.

Bharat forge has been in the limelight in the last two trading sessions and Barclays has an overweight rating on the stock.

As usual watch out for the banking space which saw hectic activity on Tuesday, as shares from the sector turned volatile.

Read more about: infosys, spicejet, mtnl, nmdc
Story first published: Wednesday, January 8, 2014, 8:39 [IST]
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