Lending major Canara Bank surged by over 3 per cent to Rs. 328 per share on the bourses on Wednesday, as the bank approved its plans to raise funds worth Rs. 4,865 crore through preferential issue to the Government of India (GoI).

After evaluating the consequences of parent company Videocon's insolvency proceedings, Dish TV India has decided to proceed with the merger with Videocon D2H. The stock was trading among the top gainer in the morning session.

The banking and financial sector has remained the favourite sector of fund managers. On analysis of data of mutual fund holdings at the end of December 2017, banking and financial sector stocks such as ICICI Bank and HDFC Bank were bought most in the last month of the 2017.

Overall volumes in futures & options currently stand at 1.09 crore contracts with a turnover of Rs. 9,44,331.22 crore.

Overall volumes in futures & options currently stand at 1.09 crore contracts with a turnover of Rs. 9,44,331.22 crore.

The level of 10,400 is a crucial support for the Nifty, followed by 10,340. On the upside, if Nifty holds above the levels of 10,550-10,570, it could extend its upmove up to the level of 10,650. The 14-period daily RSI is holding at the key support area of 35 and, previously, it has witnessed sharp upside rally after taking support from this level. Stocks in news today: Ashapura Intimates, Praj Industries, Bajaj Electricals, Orient Press, Mcnally Bharat Engineering, KEC International and Canara Bank.

Indian markets are expected to make a gap-up opening as cues from global peers are optimistic. The SGX Nifty indicates that the Nifty could surge as much as 117 points at the opening bell and open around 10,613. However, a crucial event will unfold today as the RBI will announce its monetary policy, about which the consensus is that status quo on rates will continue. 

The 15MW solar plant and chloromethane upgradation and debottlenecking projects are under progress and are expected to be commissioned during the current financial year.

Chemicals major Tata Chemicals posted its third quarter results for FY18 on Tuesday. The company recorded a hike in its net profit by 188 per cent to Rs. 759 crore for the corresponding quarter. The company ’s profit after tax from continuing operations stood at Rs. 545 crore, up by 176 per cent for the period. 

The stocks that are expected to record a significant movement on the bourses on February 7, 2018 are Bajaj Electricals Limited, KEC International Limited, Castrol India Limited, Shalby Limited and Dalmia Bharat Limited.