The Indian market is likely to see a firm opening after yesterday’s smart pull-back rally, The leap in crude prices, on continuing tensions in the Middle East, will see oil companies hogging the limelight today. Cues from Wall Street were not very supportive but Asian markets have started good and are trading with good gains the early trades.

The Indian market saw a smart pullback rally as investors expected a rate reduction on easing inflation. The indices made a flat opening and plunged in early trades, in the absence of any strong overseas cues to support the market.

ICICI Bank is presently trading at Rs 444.80 up by 4.05 points or 0.92% from its earlier closing of Rs 440.75 on the BSE.

Confidence Petroleum is presently trading at Rs 5.90, up by 0.79 points or 15.46% from its earlier closing of Rs 5.11 on the BSE.

The European markets moved forward in the early trades following firm Asian markets. Also the U.S. index futures traded with slight promising gains.

LIC Housing Finance (LICHF) is presently trading at Rs 223, up by 4.90 points or 2.25% from its previous closing of Rs 218.10 on the BSE. The stock opened at Rs 218.50, and touched a high of Rs 225 with a low of Rs 211.30. So far, 133,895 shares were traded on the BSE.

REI Agro is presently trading at Rs 672 down by 42.70 points or 5.97% from its previous closing of Rs 714.70 on the BSE.

Confidence Petroleum India Company has taken over 80% shareholding in Garg Distilleries, an ethanol manufacturing unit based on molecular sieve dehydration system located near Dhule, Shirpur (Maharashtra state) containing an installed capacity of 32400 kilolitres (KL) per annum and crude oil distillation of 12000 KL per annum.

Markets have turned unstable and have revived from their day’s lows with stocks like Reliance Industries, ICICI Bank, ITC and RCom leading the recovery. Barring the BSE oil & gas, BSE Pharma and BSE FMCG index all the other sectors are on the lower side.

KEC International, the power transmission EPC business and the transmission flagship of the RPG Enterprises, has received overseas orders worth Rs 678 crore.