Flat to positive start likely

Indian markets expect to open on a flat to positive note tracking mixed global cues. SGX Nifty is trading 64 points higher.

Events for the Day:

Motherson Sumi to quote Final Dividend
Indian Indices:

The Indian markets may open on a flat to positive note led by mixed global cues. SGX Nifty is trading 64 points higher.

All focus on minutes of the Federal Reserve’s policy meeting which is going to be held today and will provide some clarity on when it might start scaling back stimulus.

Investors will also track rupee movement as it breached 64/USD mark yesterday.

On Tuesday (August 20, 2013) Sensex shed 61.48 points to close at 18246.04 while Nifty slipped 13.30 points to end at 5401.45.

Global Market

Most Asian stocks dropped in choppy trade on Wednesday (August 21, 2013) as investors awaited details of discussions at the Federal Reserve’s last policy meeting to gauge when the US central bank might pare its bond purchases.

US stocks mostly climbed on Tuesday (August 20, 2013), with the S&P 500 halting its longest losing streak this year, as retailers including Best Buy Co. beat estimates and as Wall Street looked to clues about future US monetary policy.

European shares hit a three-week low and a major volatility index jumped on Tuesday, as expectations hardened that the US Federal Reserve will start to scale back its monetary stimulus measures next month.

Major Headlines of the day

Fortis sells entire stake in Vietnam hospital chain for $ 80 mn.

Wockhardt promoters’ pledge of shares released.

NMDC to set up 500-MW plant at Gonda

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