Tracking firm cues from global peers, the key domestic benchmarks are
likely to open on positive note with banking stocks in focus after country’s
second largest private lender HDFC Bank reported higher-than-expected earnings
on Friday, following arch rival State Bank of India. The market sentiment will
also improve as foreign institutional investors turned net buyer in Indian
equity on Friday, exchange data showed. Shares of Adani Power, GMR
Infrastructure and Hindalco will be in focus as the coal block e-auction begin
last week. On the corporate earnings front, ONGC will be in focus as the oil and
gas major is scheduled to announce its result later today. Meanwhile, on macro
front, investors will keep an eye on WPI inflation data for January, which is
expected to be released during market hours, which may set tune for market.
