MUMBAI – The BSE Sensex should rally on Wednesday, with sentiment upbeat on surging foreign interest in the market and supported by firm Asian stocks that hit a 2-year high.
Foreigners have pumped $5.1 billion into Indian stocks this month, drawn by robust earnings growth in the fast-expanding economy. The inflow has boosted the benchmark share index up 11.9 percent in September.
Mahindra Satyam will be in focus as the outsourcer reviews its audited financial results for fiscal years 2009 and 2010, which analysts say will take it closer to a merger with its new parent Tech Mahindra.
Engineering conglomerate Larsen & Toubro will be on the radar after a senior official told Reuters on Tuesday it would pursue energy opportunities overseas to supplement its domestic expertise in building power plants and transmission
The MSCI’s measure of Asian markets other than Japan was up 0.9 percent by 0257 GMT, while Japan’s Nikkei was trading 0.6 percent higher.
The Nifty India stock futures in Singapore were up 0.3 percent.
On Tuesday, the 30-share BSE index closed 0.1 percent lower at 20,104.86 points on mild profit-taking.