Markets head towards a lower opening

The start is expected to be in the negative terrain led by the weak global cues. SGX Nifty is trading 26.00 points lower.

Events for today:

HSBC/Markit Services PMI.

Bloomberg Sept. India Economic Survey.

Indian Indices:

The Indian markets may open on a negative note led by weak global cues and on account of SGX Nifty trading trading 26 points lower.

On Thursday (October 03, 2013) Sensex closed at 19,902.07, up by 384.92 points, while the Nifty rose by 129.65 points to close at 5,909.70.

Global Market

Asian stocks were pegged back on Friday (October 04, 2013), with Japanese shares hitting a near four-week low and the dollar languishing around an eight-month trough as the U.S. budget standoff dragged on, heightening fears it could have more serious repercussions for the world’s largest economy.

US stocks close lower on Thursday (October 03, 2013) after bouncing off intraday lows following a report that House Speaker John Boehner is determined to prevent a federal default as the Treasury Department warned that such a default would have potentially catastrophic effects.

European shares dipped on Thursday (October 03, 2013) as doubts over how the United States will resolve a budget standoff that has shut down parts of the government took their toll, while Schneider Electric was hit by a broker downgrade.

Major Headlines of the day

Alstom bags Rs 842 cr order from GVK.

Infosys, TCS bag IT contract from US-based utilities firm.

RIL, IOC, GAIL-OIL to bid for HPL stake on Oct 7.

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