For funding the Rs. 36,915 crore HPCL deal, ONGC has received government approval to sell stakes in IOC and GAIL. Given the levels that the benchmark indices are trading these days, it is fair to assume that government wants to expedite the 51.11 per cent stake sale of HPCL to ONGC.

India’s largest commercial enterprise Indian Oil surged by over 4 per cent on the bourses on Tuesday as the company announced that its board is likely to consider issuance of bonus shares in its upcoming board meeting on January 30, 2018.

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Construction engineering company Kalpataru Power Transmission soared by over 11 per cent on the bourses on Tuesday after the company announced an orders win of Rs. 871 crore. 

A survey of CEOs by global consultancy PwC on Tuesday said that the optimism over global economic growth is at a record level and India is seen as the fifth most attractive market for investments.

India soon to lead as the fastest growing economy in the world followed by China. IMF in their latest world economic outlook reiterated India’s growth forecast for 2018 at 7.4 per cent and 7.9 per cent for 2019. While, China is expected to grow at 6.8 per cent and 6.4 per cent for 2018 and 2019, respectively.

Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) resumes operations of its TDI plant in Dahej. The stock of GNFC was trading higher at more than 5 per cent in early morning trade. At 10:19 hours on Tuesday, GNFC was quoting Rs. 537.25 per share, up Rs. 26.65 or 5.22 per cent.

Going forward, the level of 11,000 followed by 11020 may act as a resistance for the Nifty, whereas on the downside, the zone of 10,880-10,900 may act as an immediate support level for the index. Top stocks to watch today: Speciality Restaurants, Talwalkars Better Value Fitness, Lasa Supergenerics, Bajaj Corp, Om Metals Infrastructure Projects, Kalpataru Power Transmission, TCS, Torrent Pharma, HSIL, Indian Oil Corporation

Indian markets are likely to open higher, extending their gains from the previous session on the back of bullish global cues. Traders will also be getting support with IMF saying in its global growth prospects survey that Indian economy could grow at 7.4% in FY19, as against 6.7% this year, gaining pace to clock growth at 7.8% in FY20. The SGX Nifty indicates that Nifty could open at 10,996 with gains of 29 points at the opening bell.  

DHFL surged for the second day in a row, after taking support at its significant upward sloping trendline level. The company declared its Q3FY18 results on January 22 which led to an upbeat move in the stock prices.