The Indian stock markets are expected to open on a flat note as the global cues look mixed. SGX Nifty is trading 9.00 points higher.
Events for the day:
United Phosphorous, NMDC, Idea Cellular, MRF, Kotak Mahindra Bank, Ipca Labs. and Biocon to post quarterly results
Asian Paints and CRISIL to quote Interim Dividend
Headlines for the day:
Century Real Estate set to raise Rs400 crore to refinance debt
LIC continues to swim against tide; picks up banks
Coal India stake sale: Govt holds roadshow in 5 nations
Diageo sets the ball rolling to restructure finances of United Spirits
Indian stock markets are set to start the trading day on a flat note on Thursday amid tepid cues from Asian markets; investors also look forward to second week of Q2 earnings season which may give direction to the markets.
On Wednesday (October 23, 2013), the Se nsex shed 97.09 points to close at 20767.88 while Nifty slipped 24.45 points to end at 6178.35.
Asian stocks were also trading lower after China’s money market rates surged and worries over China’s economic outlook. Japan’s Nikkei fell to a two-week low on Thursday and the Swiss franc held near a two-year high against against the dollar, sparked by concerns about China’s economic outlook.
US stocks fell on Wednesday as shares of heavy-equipment maker Caterpillar and semiconductor companies tumbled after they reported earnings, ending the S&P 500’s four-session streak of record high finishes.
European shares snapped a nine-day winning streak on Wednesday, hit by plans for a new, tougher stress test for euro zone banks, as well as by a crop of weak earnings numbers and forecast downgrades in other sectors.