Markets to open in red on Asian chaos

The Indian stock markets are expected to open in the red zone as the global cues look unsupportive. SGX Nifty is trading 43.00 points lower.

Events for the day:

ITC, GAIL (India), IOB, Bharat Forge, Colgate Palmolive, Shree Cement, Bharat Electronics, ICICI Bank, Wockhardt, Container Corporation, Adani Power and Adani Ports to post quarterly results

TCS and Cairn India to quote Interim Dividend

Headlines for the day:

JK Tyre to invest additional Rs1,430 cr in Chennai

HDFC Bank raises $ 500 mn from overseas bonds

Diageo sets the ball rolling to restructure finances of United Spirits

Indian Indices:

Indian stock markets are set to start the last trading day of the week on a negative note 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 Thursday (October 24, 2013), the Se nsex closed at 20725.43, down by 42.45 points while the Nifty slipped 14.00 points to close at 6164.35.

Global Indices:

A stronger yen depressed Japanese stocks on Friday, while the dollar was hemmed in near a two-year low against the euro, reflecting expectations the U.S. Federal Reserve will continue its stimulus into 2014.

US Stocks resumed their upward move on Thursday as economic data underscored views U.S. monetary stimulus will be in place for the foreseeable future and as earnings offered some upbeat news.

European shares climbed back towards five-year highs on Thursday thanks to a clutch of strong corporate results and encouraging manufacturing data from top metals consumer China.

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