Market to open flat; F&O expiry eyed

Indian Indices:

The key domestic benchmarks are likely to open on a flat note ahead of the expiry of the November F& O (futures & options) contracts and weakness in most fellow Asian stocks. Markets may witness heightened volatility today as traders roll over their positions in November derivative contracts. SGX Nifty is trading 17.00 points higher.

Caution ahead of the Q2 GDP data expected to be released tomorrow may weigh on sentiment with growth in Asia’s third biggest economy likely to have slowed to 5%, year on year (YoY) in the July-September 2014 quarter from 5.7% in Q1.

Investors are also eying the RBI’s monetary policy meet on Tuesday with pressure building up on the central bank to cut interest rates

Indian shares edged up on Wednesday, gaining for a fourth session in five, led by blue chips on continued hopes the central bank would ease monetary policy to boost economic growth.

On (Wednesday 26, 2014) Sensex ended up 48.14 points at 28386.19 and Nifty closed at 8475.75 up by 12.65 points

Global Market:

Asian stocks inched higher on Thursday as the prospect of further stimulus from central banks in the region and Europe eclipsed disappointing U.S. data, which tripped up the dollar.

US stocks rose on Wednesday boosted by tech shares, with the S&P 500 and Dow industrials closing at records, while the energy sector was once more the largest weight on the market as crude prices continued to flirt with multi-year lows.

European shares inched higher on Wednesday, with Germany’s blue chip DAX index advancing for the 10th session in a row as investors bet on further monetary stimulus from the European Central Bank.

Major Headlines of the day

Stake sale overhang a good opportunity to buy Coal India, ONGC

Godrej Tyson to expand activities in smaller towns

Promoter group to infuse Rs 92 crore in Orchid Pharma

SGX Nifty

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