Sensex, Nifty to open in the green

China's CSI300 and Hong Kong's Hang Seng are up over a percent while South Korea's Kospi has gained 0.9%. The Dow Jones Industrial Average rebounded late on Wednesday after oil prices jumped by 8%, lifting the Energy and Materials sectors.

After three days of fighting the bears, sentiment seems to have improved for the day thanks to upbeat global cues. US indices swung wildly as higher oil prices were countered by a spate of weaker-than-expected economic data, which stoked fears of a slowdown in the US economy. The US service sector expanded in January at the slowest pace in almost two years, the Institute for Supply Management (ISM) said on Wednesday. Separately, a private-sector employment report by payroll-services firm ADP pointed to solid job growth in January but weaker than the previous month. Gold also rallied to its highest settlement level in more than three months.
 
The outlook is a positive start. The indices will see some green for a while at least given the upbeat global cues. Most Asian markets are also trading higher except for Nikkei which is down half a percent. China's CSI300 and Hong Kong's Hang Seng are up over a percent while South Korea's Kospi has gained 0.9%. The Dow Jones Industrial Average rebounded late on Wednesday after oil prices jumped by 8%, lifting the Energy and Materials sectors. The Dow erased a 120-point drop to close 183.19 points, or 1.1%, higher at 16,336.66. The S&P 500 index gained 9.5 points, or 0.5%, to end at 1,912.53.   The Nasdaq Composite index pared earlier losses but ended in the negative territory, losing 12.71 points, or 0.3%, on the day to settle at 4,504.24.
 
Among the key results to watch out for include Arvind Ltd, Bajaj Auto, Berger Paints, Fortis Healthcare, GSPL, Hawkins, Heidelberg Cement, Ingersoll-Rand India, Inox Leisure, JK Lakshmi Cement, Mphasis Ltd, MT Educare, OnMobile, Poly Medicure, Sanofi India, Solar Industries, Talwalkars, Tata Steel, Trent Ltd, ZF Steering and Zydus Wellness. 
 
Quess Corp has filed its Draft Red Herring Prospectus (DRHP) with SEBI for raising Rs 4,000 million through an IPO of its equity shares (“Issue”). This is intended as a full primary equity issuance, with all of the money raised being invested in the company. None of the promoters are divesting their stakes as part of the IPO.
 
Sunteck Realty Ltd announced the signing of a definitive agreement with leading global investment firm KKR under which KKR’s investment vehicles would provide up to Rs150 crore (US$22.4 million) of funding to Sunteck’s flagship luxury residential developments in Mumbai, Signia Isles and Signia Pearl. 
 
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval that all allocations of linkages/Letter of Assurance (LoAs) for non-regulated sector viz. Cement, Steel/Sponge Iron, Aluminium, and Others [excluding Fertilizer (urea) sector], including their CPPs, shall henceforth be auction based. 
 
Private equity firms Blackstone and Apollo Global Management are in the race to acquire Mphasis, according to reports.
 
Cisco Systems said that it intends to acquire Silicon Valley-based Internet of Things (IOT) start-up Jasper Technologies Inc. for US$1.4 billion in cash. 
 
Wipro Ltd. will hire 25,000 techies in Karnataka, especially Bengaluru, Chairman Azim Premji said on Wednesday at the state’s global investors meet.
 
RBI Governor Raghuram Rajan reportedly said to ET now that Reserve Bank of India's move to clean up balance sheets of commercial lenders is not aimed at reducing the risk-taking appetite of company owners.
 
Karnataka should be growing by 2 - 3 percent faster than the country's GDP. The state has potential in better natural resources and quality human resources. The Central government will extend all required help to Karnataka for its overall growth said Arun Jaitely, Union Minister for Finance, Corporate Affairs and Information and Broadcasting.
 
The growing entrepreneur activity coupled with shift in business focus from a service provider to a solution provider is expected to push IT sector hiring to new heights. While last year the hiring was largely muted with only 12 percent increase this year the sector will witness a 14-16% growth in hiring. And it is expected to increase to 22% by 2020; IT industry will create 2.5 lakh new job openings in 2016.
 
Bajaj Finance climbed 9.4% to Rs.6,380 on BSE. The company recorded a rise of 58.13% in its net profit at Rs. 40.8 crore for the quarter ended December 31, 2015 as compared to Rs. 25.8 crore for the quarter ended December 31, 2014.
 
Hindustan Copper dipped 2.3% to Rs.48.10 after the company posted 44.38% fall in its net profit in the December quarter to Rs.5.89 crore compared with Rs.10.59 crore a year ago.
 
Inox Wind slipped 2.6% to Rs.294 on BSE. The company completed commissioning of the 170 MW wind power project for Continuum Wind Energy located at Ratlam district in the state of Madhya Pradesh.
 
Shares of Adani Enterprises closed marginally lower at Rs. 71.80 on BSE despite the company received environmental nod for its mega coal mining project in Australia. The Queensland’s Department of Environment and Heritage Protection (EHP) yesterday issued a final environmental authority (EA) for Adani’s Carmichael Mine project with approximately 140 conditions, including 9 conditions relating to the black throated finch as required by the Land Court.
 
Camlin Fine Sciences Limited jumped 4.5% to Rs.102 after the company's subsidiary CFS ANTIOXIDANTES DE MEXICO S.A. DE C.V., Mexico (CFS Mexico) has entered into a share Purchase Agreements to acquire 65% stake in a entity in Mexico along with its proposed group companies, which shall be subject to certain conditions being fulfilled prior to the said acquisition.
 
Aurobindo Pharma Limited gained 0.5% to Rs.771 after the company received final approval from the US Food & Drug Administration (US FDA) to manufacture and market Isosulfan Blue Injection, 1% (50 mg/5 mL) single-dose vials. The product is expected to be launched in Q4 FY15-16.