Domestic stock markets are expected to open on a cautious note, based on early indications from SGX Nifty futures trading. The S&P 500 and Dow Jones indexes rose on Wednesday on the basis of slightly positive factory data and higher oil prices, although concerns over the slowing economic recovery and rising corporate taxes kept the moderate feeling. The trends on SGX Nifty indicate a cautious opening for the Nifty, with a gain of 12 points. At 8:00 am, Nifty futures were trading at 17,546, up 12 points, on the Singapore Stock Exchange.
On Wednesday, the Sensex BSE rose 476.11 points to 58,723.20 and the Nifty climbed 139.50 points to 17,519.50.
Actions to watch for in today’s session:
The government announced the telecommunications aid plan on Wednesday, offering a four-year moratorium on AGR and spectrum fees and 100% FDI in telecommunications via the automatic channel.
The government on Wednesday announced a production-related incentive program worth Rs 26,000 crore for auto and component manufacturers.
Wipro has entered into a multi-year IT services contract with Kuala Lumpur-based Maxis Broadband.
Adani Transmission has received the Letter of Intent (LoI) for the acquisition of MP Power Transmission Package-II, incorporated by REC Power Development and Consultancy, Adani Group Company said.
The government will sell up to 10 percent of the capital of Hindustan Copper through an exchange put option offering, which could reach around Rs. 1,121 crore.