Flat opening likely for Market on subdued Asia trend

Indian Indices:

The key domestic benchmarks are likely to open little changed today tracking a subdued trend in fellow Asian peers and a flat closing at Wall Street overnight as an upward revision of Q3 GDP data was offset by a dip in US consumer confidence and slowing home prices gains, clouding the outlook for the world’s biggest economy.

SGX Nifty is trading 15.00 points lower.

Indian markets fell on Tuesday, retreating from a record high hit earlier in the session as financial firms slumped on worries parliament would delay an insurance bill, while new rules for offshore derivatives raised worries over foreign flows.

On (Tuesday 24, 2014) 30-share Sensex ended down 161.49 points at 28338.05 and the 50-share Nifty slipped 67.05 points at 8463.10.

Global Market:

Asian stocks edged up on Wednesday after data showing the U.S. economy growing at a relatively solid pace calmed investor anxiety over slowing global growth, while the Australian dollar languished near four-year lows against the dollar.

US stocks ended little changed on Tuesday as the U.S. economy grew more than expected last quarter but soft readings on consumer confidence and house prices kept major indexes in a tight range.

European stocks ended slightly higher on Tuesday as euro zone banking shares climbed on mounting expectation of more stimulus from the European Central Bank.

Major Headlines of the day

Govt to divest CIL, ONGC, SAIL by end of Jan 2015.

Power Grid stock extend losses on MSCI exclusion.

Godrej Properties opens first international office in Dubai.

SGX Nifty


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