Markets likely to struggle for direction

The Indian stock markets are expected to open flat as the global cues look mixed. SGX Nifty is trading 1.00 point lower.

Events for the day:

Tech Mahindra, Cummins India, UBL, Aurobindo Pharma, Prestige Estates, Eicher Motors and Central Bank to post quarterly results

NMDC and Wockhardt to quote Interim dividend

Headlines for the day:

Fidelity buys Jubilant FoodWorks shares for Rs50 cr

ABG Shipyard heads for recast of long-term debt

Omaxe declares Bonus to public shareholders

Ashok Leyland reports Rs25 cr loss in Q2

United Spirits stares at 5-7% drop in volumes

Indian Indices:

Indian stock markets are set to start the trading on a mixed note amid tepid cues from Asian and other global markets.

On Wednesday (November 06, 2013), the Se nsex closed at 20,894.94, down by 79.85 points, while the Nifty fell by 38.00 points to close at 6,215.15.

Global Indices:

Asian stocks struggled on Thursday as investors waited for stimulus-sensitive U.S. payroll data, although the euro perked up ahead of the European Central Bank’s policy meeting.

The Dow industrials closed at a record high on Wednesday, led by gains in Microsoft Corp and encouraging European economic data, while the S&P 500 also rose but closed shy of its own record.

European shares hit five-year highs on Wednesday after estimate-beating results from financial conglomerate ING and staffing firm Adecco gave fresh impetus to a largely stimulus-driven equity rally.

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