Bears may win race to ring opening bell

Events for the day:

Loha Ispaat IPO closes today

Headlines for the day:

  • Mankekar buys 6.50 lakh shares of Financial Technologies
  • Sagar Cements denies report of JV stake sale talks with Vicat
  • Non-life insurance premium rises 5% in February
  • SAIL commissions Rs730-cr sinter unit at Bhilai facility

Indian Indices:

The Indian stock markets are expected to open in the red zone as the global charts look unsupportive. SGX Nifty is trading 25.50 points higher.

On Wednesday (March 19, 2014), the S&P BSE Se nsex closed at 21832.86, up 0.25 points while the Nifty gained 7.40 points to closed at 6524.05

Key benchmark ended on a flat note, off the record highs hit a day earlier, as IT outsourcing companies fell on concerns about their revenue outlooks, while investors also booked profits in recent outperformers such as ONGC.

Global Indices:

The U.S. dollar was holding hefty gains in Asia on Thursday as investors wrestled with the risk that U.S. interest rates could rise sooner and faster than previously thought, pressuring stock and bond prices.

U.S. stocks fell on Wednesday after comments from Federal Reserve Chair Janet Yellen raised the possibility of an earlier- than-anticipated increase in interest rates.

European shares held steady on Wednesday, although Italian stocks slipped in strong volumes as Prime Minister Matteo Renzi said the European Union’s budget deficit limit of 3 percent of economic output was outdated.

SGX Nifty

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