Gap-down opening likely on weak global cues

Indian Indices:

The Asian cues look weak today and may drag the Indian markets in the opening trade. SGX Nifty is trading 37.50 points lower which may also weigh on the sentiments.

On Wednesday (December 11, 2013) S&P BSE Sensex shed 83.85 points to close at 21171.41 while Nifty slipped 24.95 points to end at 6307.90.

Events for the day:

CPI YoY data to be announced

Index for Industrial Production YoY figures to be released

Videocon Industries to quote final dividend

Global Market

Asian shares slipped to a four-week low on Thursday (December 12, 2013) on heightened expectations the Federal Reserve may act sooner than later to unwind its stimulus after a provisional budget deal in Washington eased some of the fiscal drag on the US economy.

US stocks posted their largest drop in a month on Wednesday (December 11, 2013) as traders locked in recent gains after a provisional budget deal out of Washington removed one of the near-term reasons for the Fed to keep up its current pace of economic stimulus.

European shares eased in late trade on Wednesday (December 11, 2013), as increased certainty over US government spending following a budget deal there was overshadowed by growing expectations that a scaling back of Federal Reserve stimulus is imminent.

Major Headlines of the day

Hero MotoCorp acquires 60% in JV with Magneti Marelli.

SKS completes Rs81 crore securitisation.

Orchid Pharma expects the liquidity crunch to be over with CDR and deal completion.

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