Gap-down opening likely on negative Asian cues

The Indian markets may open on a negative note led by unsupportive Asian cues. SGX Nifty is also trading 42.00 points lower.

Events for today:

Cipla, M&M, Tata Steel, SBI, BPCL, Hindustan Copper, Sun Pharma, Andhra Bank, ONGC, Coal India, REC and GSPL to post quarterly results

Indian Indices:

The domestic markets are expected to resume the session on a negative note following negative Asian cues. SGX Nifty is trading 42.00 points lower.

The September Index of Industrial production ( IIP) data came in at 2.00% vs 3.5% expected, as compared with 0.6% for August.

October food inflation at 12.56%; Sept IIP below expectations at 2%

On Tuesday (November 12, 2013) S&P BSE Sensex shed 209.05 points to close at 20281.91 while Nifty slipped 60.75 points to end at 6018.05.

Global Market

Japanese stocks stalled on Wednesday (November 13, 2013) after two sessions of substantial gains while Australia shares and its currency were weighed by worse-than-expected wage data.

US stocks finished with moderate losses on Tuesday (November 12, 2013), ending a two-day winning streak for the Dow industrials and S&P 500. The market felt some pressure from Federal Reserve officials giving fresh warnings about a potential stimulus reduction, as well as from a decline in small-business sentiment.

European shares edged lower on Tuesday (November 12, 2013) as a fresh set of weak corporate results put the brakes on a rally that had pushed a key regional equity index to a five-year high last week.

Major Headlines of the day

Gillette sets floor price at Rs1,650.

IOC in talks to buy Petronas’ 10% stake in Canadian gas asset.

HPCL may buy 6 mn barrels of Iran oil if govt backs insurers.

SGX Nifty

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Discussion on Gap-down opening likely on negative Asian cues