Indian stocks likely to open flat; FOMC in focus

The Indian stock markets are expected to open on a flat note as the global cues look mixed. SGX Nifty is trading 6.00 points higher.

Indian Indices:

The Indian equities are likely to start the trading session on a flat note led by mixed global cues. SGX Nifty is trading 6.00 points higher.

Investors will be cautious ahead of Federal Reserve Open Market Committee (FOMC) meeting today.

On Tuesday (September 17, 2013) Sensex closed at 19,804.03, up by 61.56 points, while the Nifty rose by 9.65 points to close at 5,850.20.

Global Market

Asian markets held their breath on Wednesday (September 18, 2013) as investors counted on the Federal Reserve to launch only a modest scaling back of stimulus later in the day, with all assets vulnerable to any hint of mawkishness from the world’s most powerful central bank.

US stocks advanced on Tuesday (September 17, 2013) on expectations the Federal Reserve will make only moderate changes to its stimulus that has been highly supportive of stocks and other assets at the conclusion of its two-day meeting.

Auto stocks dragged European shares off a five-year high on Tuesday when data showing a drop in car sales last month doused recent investor optimism on the sector.

Major Headlines of the day

SKS Microfinance secures A, A1 ratings.

Yes Bank ties up $ 255 mn foreign currency loan.

GMR Infra targets net debt to equity level of 2.5 times in FY14.

SGX Nifty

sgxnifty.org@imediaone.com

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