Nifty Seen Opening Above 15,750; Tata Motors, Tech Mahindra In Focus

The Indian equity benchmarks are set to stage a gap up opening as indicated by the Nifty futures on Singapore Exchange. Nifty futures on Singapore Exchange also known as the SGX Nifty futures advanced 46 points to 15,754 amid positive cues from Asian markets. Asian shares managed a semblance of calm on Thursday as the U.S. Federal Reserve signalled it was in no rush to taper stimulus, though the mood was fragile as investors waited to see if Beijing could stem the recent bloodletting in Chinese shares.

MSCI's broadest index of Asia-Pacific shares outside Japan bounced 1.1 per cent, having slid to its lowest since early December on Wednesday. Japan's Nikkei edged up 0.4 per cent, while South Korea was flat.

Overnight, US stocks and the dollar slipped on Wednesday in listless trade after the Federal Reserve gave no clue about when it might start reducing its purchases of government bonds, even as it said the economic recovery is on track.

The Dow Jones Industrial Average fell 0.36 per cent, the S&P 500 was flat, while the tech-focused Nasdaq Composite rebounded 0.7 per cent after hitting its lowest in more than two months on Tuesday.

Back home, foreign institutional investors (FIIs) sold shares worth Rs 2,275 crore on Wednesday while domestic institutional investors bought shares worth Rs 921 crore.

Tata Motors will be in focus after the company said that it will increase the prices of its entire range of passenger vehicles from next week, according to PTI.

Tech Mahindra will be on investors' radar as it will announce its June quarter earnings later in the day.