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The green signal from the US market is expected lift the spirits of the domestic markets, too, on Thursday. The SGX Nifty has got off to a robust start, and was trading at 14,275 (830 am) on Thursday, against the Nifty future's Wednesday close of 14,174.45, over 100 points higher.
Ignoring the violence in Washington over the transition of power to a new presidency, most Asian markets remained bullish, with Japan’s Nikkei 225, Australia's S&P/ASX 200, the Singapore and Taiwan indices surging around 1.25 per cent, though the Chinese and Korean exchanges are ruling in the red.
Overnight, the Dow and the S&P 500 ended higher, soaring to all-time highs, as investors piled into financial and industrial stocks on bets a Democratic sweep in Georgia would lead to more fiscal stimulus and infrastructure spending.
The Dow Jones Industrial Average closed 437.8 points or 1.44 per cent higher at 30,829.4, the S&P 500 gained 21.28 points or 0.57 per cent at 3,748.14 and the Nasdaq Composite dropped 78.17 points or 0.61 per cent to 12,740.79.
Stocks to Watch
GM Breweries, Indian Acrylics and Uttam Sugar Mills will consider their quarterly results for the quarter ended December 2021 on Thursday.
Realty stocks, especially the Mumbai-based Godrej Properties, Prestige Estates, and housing finance companies will remain in focus, as the Maharashtra Government on Wednesday approved a proposal to reduce by 50 per cent premiums charged by the civic authorities on real estate development this year, as recommended by the Deepak Parekh committee.
The focus will be on telecom stocks as the Centre has announced bidding for the sixth round of spectrum auction for radiowaves worth Rs 3.92 lakh crore. The auction will start from March 1, according to a notice issued by the government on Wednesday.
The Union Cabinet had approved a proposal for the auction of 2,251.25 Megahertz (MHz) of spectrum worth Rs 3.92 lakh crore at the base price on December 17, 2020. The Department of Telecom (DoT) has fixed January 12 for the pre-bid conference and the last date for seeking clarification to the notice on January 28. Telecom operators will need to submit their applications for participation in the auction by February 5.
The BSE, MCX and CDSL may come under pressure as the market regulator plans to open the window for the entry of new players in stock exchange and depository businesses.
The board of Revathi Equipment will meet today to consider a voluntary delisting proposal. The company had earlier received a proposal from its promoters - Renaissance Advanced Consultancy Limited and Hari Investments Private Limited - for voluntary delisting of the equity shares of the company.
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