Buying was visible across the sectors. Realty, banking, power, capital goods and pharma stocks were among the top performers in the morning deals.
9:00 a.m.: Rupee opens lower at 64.03/dollar against Tuesday's close of 63.92
8:55 a.m.: This is the final week of correction and the Nifty from here on go to 8,400-8,500 levels and Indian markets will outperform other global markets, says Sanjeev Bhasin, member of core strategy group with India Infoline.
8:20 a.m.: Nifty is likely to open lower in trades on Wednesday tracking subdued trading of Nifty seen on the Singapore Stock Exchange.
Nifty which is traded on the Singapore Stock Exchange also known as the SGX Nifty was down 0.2 per cent or 16 points at 8,008.
Most of the Aisan markets were trading higher. Japan's Nikkei was up 0.38 per cent after three days of losses and Hang Seng advanced 0.34 per cent. While, China's Shanghai Composite was trading 0.54 per cent lower.
Meanwhile, Greece submitted new proposal to end a standoff with EU and IMF. Greek proposal is short of what PM Tsipras agreed with creditors last week.
Back home, the Nifty has been falling for the last seven days which has led to decline of nearly 5 per cent on the Nifty. The foreign institutional investors sold shares worth Rs 654 crore on Tuesday while the domestic investors purchased shares worth Rs 692 crore.
Technical analysts say that yesterday's low of 8,005 and low created by Nifty on May 7 of 7,997 are important levels to watch out for going ahead. However, chartists say that the Nifty is currently trading in its strong support zone of 8,020-7,990.
Below are the stocks which will be in focus today:
PVR: Multiplex chain PVR is all set to acquire DT Cinemas for approximately Rs 500 crore. DT Cinemas is owned by DLF and operates 29 screens and has plans to add 10 screens in next 12-18 months. The proposed deal will help PVR increase its share in Delhi-NCR to about 52-60 per cent.
Sun Pharma, SPARC: Sun Pharma Advanced Research Company (SPARC) has licensed Xelpros to Sun Pharma for US market. Xelpros is a preservative-free eye drop and SPARC will get $3 million upfront payment from Sun Pharma.
Adani Group Shares: Adani group shares will be in focus today as the group will hit global bond market with $1.5-billion issue.
IVRCL: IVRCL has signed memorandum of understanding with Royal Smals for water management.
Hindustan Uniliver: Hindustan Uniliver might react to its development that its Knorr Chinese noodles is not in FSSAI approved list.
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