Indian Markets Likely to Open Cautiously Up but Asia Might Play Spoilsport

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Indian Markets Likely to Open Cautiously Up but Asia Might Play Spoilsport
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Nifty 50 Futures  in Singapore are trading up 0.19% indicating a gap up opening for Nifty 50 and the BSE Sensex 30 . However, market experts caution that there is a lack of conviction at these levels and markets will probably consolidate before making definite moves in either direction.

Vodafone Idea Ltd (NS: VODA ) counter should see some action today after an Economic Times report said that the government is considering buying a token stake in the company to allay investors fears. This report comes a day after news agency Reuters reported that a cluster of banks led by State Bank Of India (NS: SBI ) asked the government to give the telecom company more time to clear its dues worth Rs 1.92 lakh crore.

Ace investor Rakesh Jhunjhunwala’s RARE Enterprises bought 5 million shares in Zee Entertainment Enterprises Ltd. (NS: ZEE ) as investor activism might force a top management change in the company. Zee shares gained over 40% yesterday.

Asian markets are trading lower with Nikkei 225 down 0.68%, KOSPI 50 up less than 0.1% and the Shanghai Composite down less than 0.1%.  

US markets ended lower yesterday despite lower inflation data as economic uncertainties prevailed. As of this report, Dow Jones 30 Futures , S&P 500 Futures and Nasdaq 100 Futures were all trading up less than 0.1% each.

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