The Indian stock markets are expected to open in the red zone as the global cues look unsupportive. SGX Nifty is trading 26.50 point lower.
Events for the day:
Crompton Greaves, Indian Hotels, Max India, Tata Motors, UCO Bank, Indian Bank, Punjab National Bank, United Spirits, IOC, PFC, Sun TV Network and Divi’s Lab to post quarterly results
Headlines for the day:
Eicher Motor profit jumps 62% in Q3
TCS-CII partner with UP for ITI principals’ training
IL&FS Transportation ties-up Rs3k cr loans for road projects
L&T deny paying kickbacks for Hyderabad Metro Rail project
Indian stock markets are set to start the trading on a weak note amid tepid cues from Asian and other global markets.
On Thursday (November 07, 2013), the S&P BSE Se nsex shed 72.17 points to close at 20822.77 while Nifty slipped 27.90 points to end at 6187.25.
Asian shares slumped to a three-week low on Friday after Wall Street suffered its biggest fall in more than two months, while a surprise interest rate cut by the European Central Bank underscored the fragility of the global economy.
Frenzied buying in Twitter shares grabbed Wall Street’s attention on Thursday, as the social media stock surged well above expectations, while major indexes fell, with the S&P 500 suffering its worst daily decline since August.
European shares ended flat on Thursday in heavy, volatile trade as a boost from an unexpected rate cut by the European Central Bank was offset by funding concerns for smaller banks.