Markets to open higher; Fed eyed

Indian Indices:

The key domestic benchmarks are likely to open higher today tracking a mixed trend in Asian stocks as caution persisted ahead of the start of the two-day policy meet of the US Federal Reserve on Tuesday with the central bank tipped to exit its monthly bond buying program. SGX Nifty is trading at 17.50 points higher.

Market may see some volatility ahead of the October F&O contracts expiry on Thursday.

Indian shares fell on Monday, retreating from a more than one-month high earlier in the session to snap a five-session gaining streak, as investors booked profits and Hindustan Unilever forecast a softer demand environment in the near term. The BSE Sensex and the CNX Nifty ended 0.37%-0.29% lower.

On Monday (October 27, 2014) 30-share Sensex closed down 98.15 points at 26752.90 and the 50-share Nifty fell 22.85 points at 7991.70.

Global Market:

Asian shares wobbled in early trade on Tuesday, with investors cautious ahead of the U.S. Federal Reserve’s two-day meeting and as oil prices extended declines.

U.S. stocks ended near flat on Monday, pausing after the S&P 500’s biggest weekly gain since January 2013, while energy shares fell with another decline in oil prices.

European stocks fell on Monday as investors booked recent gains after the European Central Bank review of the region’s banks and a German business sentiment index dropped to its lowest in almost two years.

Major Headlines of the day.

Empee Sugars board approves disinvestment of power business.

HDFC Ergo bullish on art insurance segment in India.

UCO Bank identifies Kingfisher Airlines as ‘wilful defaulter’

SGX Nifty

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