Sensex opens 105 points up

Sensex had gained over 188 pts in previous three sessions,was up by 105 pts,or 0.61,at 17,423.81.

Extending gains for the fourth straight session,the BSE benchmark index Sensex today rose by another 105 points in early trade on sustained buying by funds and retail investors,amid encouraging fourth quarter corporate earnings and a firming trend in other Asian markets.

The 30-share barometer,which had gained over 188 points in the previous three sessions,was up by 105 points,or 0.61 per cent,at 17,423.81

All sectoral indices,led by FMCG and consumer durables,were trading in the positive zone with gains of up to 1.41 per cent.

The wide-based National Stock Exchange index Nifty moved up by 30.40 points,or 0.58 per cent,to 5,278.55.

Brokers said continued buying by funds and retail investors on the back of better-than-expected fourth quarter earnings by some companies and a firming trend on other Asian bourses,following overnight gains on the US markets on positive manufacturing data,mainly influenced the trading sentiment here.

Stocks of FMCG major Hindustan Unilever surged 2.74 per cent to Rs 427.75,after it posted a 20.63 per cent rise in net profit to Rs 686.61 crore for the fourth quarter ended March 31.

In the Asian region,Hong Kong8217;s Hang Seng Index rose by 1.06 per cent,while Japan8217;s Nikkei index up 0.50 per cent in morning trade today. The US Dow Jones Industrial Average ended 0.50 per cent higher in yesterday8217;s trade.

PRE-OPEN:Indian stocks to watch

GLOBAL MARKETS ROUNDUP

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Asian shares edge higher on Wednesday after strong US factory activity data eased concerns about a loss of momentum in the world8217;s biggest economy.

China8217;s manufacturing sector improved to 49.3 in April from 48.3 in March,but remained below the threshold of 50 for a sixth consecutive month in April,according to the HSBC China Purchasing Managers8217; Index out on Thursday.

The Dow closed at its highest level in more than four years on Tuesday after US manufacturing expanded at a faster pace than expected in April.

KEY EVENTS TO WATCH

India8217;s top telecoms Bharti Airtel reports Q4 results. Profits seen down for the ninth straight quarter as competition squeezes margins and higher interest costs and forex losses also weigh. 0330 GMT

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Jan-March results of Hero MotoCorp,VIP Industries,Century Textiles and Industries.

India8217;s manufacturing PMI for April 0500 GMT

India8217;s money supply data 1030 GMT

INDIAN STOCKS TO WATCH

EARNINGS / DATA

Hindustan Unilever Ltd,India8217;s largest consumer goods maker,said it continues to see strong consumer demand,after beating estimates on Tuesday with a 21 percent rise in quarterly profit to 6.87 billion rupees 130.4 million.

India8217;s exports in March fell for the first time since the 2009 global financial crisis as demand weakened in the United States and Europe,further clouding the outlook for the country8217;s balance of payments.

Tata Motors8217; April vehicle sales fell 7 percent to 60,086 vehicles from a year ago.

Maruti Suzuki8217;s sales rose 3.4 percent to 100,415.

Hero MotoCorp reported higher April sales by 6.7 percent at 551,557.

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TVS Motor8217;s sales were at 174,455,4 percent higher from a year earlier.

Mahindra amp; Mahindra8217;s April sales jumped 27 percent 40,719.

India8217;s consumer price index CPI for industrial workers rose 8.65 percent in March from a year earlier,faster than February8217;s annual rise of 7.57 percent,government data showed on Monday.

India8217;s infrastructure sector output grew 2 percent in March from a year earlier,sharply lower than an upwardly revised annual growth of 6.9 percent in the previous month,government data showed on Monday.

TELECOMS

Bharti Airtel has appointed Chinese telecoms gear maker Huawei Technologies to deploy and manage a 4G network in India8217;s Karnataka state

FINANCIAL

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Samvardhana Motherson Finance Ltd has placed around 2.2 billion rupees 42 million worth shares with cornerstone investors,stock exchange data showed,ahead of its initial share sale of about 16.65 billion rupees that opens on May 2.

ENERGY/COMMODITIES

Essar Oil has been buying most of its Iranian oil on a delivered basis since February,two sources aware of the deals said,ahead of an end-June deadline when tighter western sanctions could hit insurance and supplies.

Indian state-run insurers have agreed to give limited cover to local ships for carrying Iranian oil,helping the energy-hungry country import reduced volumes from sanctions-hit Tehran from July,a Shipping Corp of India director said on Tuesday.

Jaiprakash Associates said on Tuesday cement shipments in April rose 23 percent from a year ago to 1.77 million tonnes.

OTHER FACTORS TO WATCH

Indian debt/FX factors to watch

Yen off highs,China HSBC PMI eyed

Oil turns higher on strong U.S. factory growth

Foreign institutional investor flows

For closing rates of Indian ADRs