Markets may open in red

Indian Indices:

Today’s opening is likely to be in the red tracking negative Asian cues. SGX Nifty is also trading 27 points lower.

On Tuesday (December 04, 2013) S&P BSE Sensex shed 43.09 points to close at 20854.92 while Nifty slipped 16.00 points to end at 6201.85.

Events for today:

HSBC/Markit Services PMI

Global Market

Asian stocks fell after the yen strengthened and valuations on the regional equities gauge climbed to a six-month high, with investors awaiting US job data this week that may provide further evidence as to when the Federal Reserve will reduce stimulus.

US stocks fell on Tuesday (December 03, 2013), with the S&P 500 and the Dow Jones Industrial Average falling for a third straight day on uncertainty over when the Federal Reserve will begin to scale back stimulus and self-fulfilling fears the market was overdue for a pullback from record levels.

European stocks dropped on Tuesday (December 03, 2013), suffering their biggest falls since August after recent robust US data raised concern that the Federal Reserve will cut its equity-friendly stimulus sooner rather than later.

Major Headlines of the day

Sesa gets a foreign hand to cut Cairn buyout debt.

GAIL in talks with Ophir for stake in Tanzania gas assets.

PowerGrid issue charges up grey market.

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