The markets are likely to open on a choppy note despite positive global cues. As of 8:25 AM, the SGX Nifty Futures quoted at 15,544 levels, indicating a cut of 94-odd points on the Nifty50.
Global sentinments turned positive as investors picked up stocks after markets moved into an oversold zone. On Tuesday, the US equity markets traded in a positive territory, with all major indexes closing above 2 per cent. Asia-Pacific markets, too, traded on a positive note as Japan’s Nikkei 225 rose 0.5 per cent and Topix gained 0.6 per cent.
That said, global crude oil prices continued to claw back from highs. Prices of Brent Crude hovered around $112 a barrel and WTI Crude was at $110 a barrel.
Back home, shares of Inox-PVR will be in focus after the multiplex operators received SEBI’s approval for merger. That apart, HDFC Bank will be on investors radar as the private sector lender proposes to double its network of branches over the next three to five years.
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