The Sensex advanced 68 points to 27,849 and the Nifty jumped 17 points to 8,386.
Buying was visible across most of the sectors. Pharma, consumer durables, realty and IT stocks were witnessing buying interest.
8:50 a.m.: Below are the stocks which will be in focus today:
Tata Consultancy Services: TCS AGM concluded yesterday CEO of the company said that the company saw growth coming from all sectors and areas in FY15. Company expects revenue from Japan to pick up in FY16 and digitalization is a big area of growth for TCS.
Oil marketing companies: State-run oil marketing companies such as HPCL, IOCL and BPCL will be in focus today after the petrol and diesel prices were cut yesterday on the back of fall in fuel prices globally. Petrol prices were cut by 31 paise per litre and diesel prices were reduced by 71 paise per litre and the price cut will be effective from today.
IndusInd Bank: IndusInd Bank will be in focus today as the qualified institutional placement closed today. The company approved issue price of Rs 845 per share. QIP is at a premium of Rs 23.46 per share.
Ashok Leyland: Ashok Leyland has won order worth $49.9 million for supply of commercial vehicles to Zimbabwe.
Time Technoplast: Time Technoplast plans to sell its equity in 50:50 joint venture in South China for approx $1.3 million and will purchase balance 50 per cent equity in 50:50 JV in Egypt for $900,000
McNally Bharat: McNally Bharat has signed investment agreement with EMC and company plans to raise further resources via equity shares up to Rs 200 crore.
8:45 a.m.: So far, the monsoon has been above normal. The month of June saw rains 16 per cent above normal rains. Northwest India saw 31 per cent more rains than normal monsoon rains. East and northeast India saw 1 more rains, central India witnessed 23 per cent higher rains and rains in the southern peninsula jumped 19 per cent.
8:35 a.m.: Analysts say that local buying is offsetting selling by foreign investors. In the cash segment, FIIs have sold shares worth $86 million and the domestic investors have purchased shares worth $91 million. Meanwhile, on the global front Greece has confirmed that it won't repay the IMF. Euro was marginally weaker and commodities were trading flat post this development.
Nikkei-Markit manufacturing PMI is expected to come out at at 10:30a.m. Today and the Indian markets are expected to trade in-line with its Asian peers.
Nifty on Tuesday closed a bit shy of 200-day moving average. Meanwhile, technical analysts say that 8,321-8,382 stays the resistance zone for the Nifty.
In the derivative segment, Nifty open interest jumped 8 per cent.
Among the individual stocks, Zee Entertainment has jumped 23 per cent from the low it made in the month of May. Chartists say that the stock has resistance around Rs 365-370 levels.
Auto stocks will be in focus today as the June monthly volumes will be released today.
8:15 a.m.: The foreign institutional investors (FIIs) sold shares worth Rs 551.3 crore on Tuesday while the domestic institutional investors purchased shares worth Rs 580 crore.
In the derivatives segment, the FIIs bought index futures worth Rs 353 crore and stock futures worth Rs 180 crore.
8:00 a.m.: Asian share markets were in a guarded mood on Wednesday as Greece became the first developed economy to default on a loan with the IMF, setting the scene for another day of uneasy action.
While an unwelcome milestone for Athens, it came as no surprise to investors after weeks of stop-start talks and the euro only faded a little to $1.1135.
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