Markets likely to open on a flat note

Events for the day:

  • Local Car Sales data to be released

Headlines for the day:

  • Mallya tells Kingfisher employees to refrain from hunger strike
  • Reliance Jio’s future 4G services may see few takers
  • Welspun to invest Rs1,300 cr to set up solar power projects in Punjab

Indian Indices:

The Indian stock markets are expected to start the trading on a flat note on the back of subdued global cues. SGX Nifty is trading 10.00 points lower.

Markets are expected to remain volatile ahead of the November Index Industrial Production (IIP) data on Friday and minutes of the Fed’s December meeting due on Thursday. Investors were also cautious as Infosys dropped ahead of its October-December earnings results on Friday.

On Wednesday (January 08, 2013), the S&P BSE Se nsex closed at 20729.38, up by 36.14 points, while the Nifty rose 12.35 points to close at 6174.60.

Global Indices:

Asian shares got off to a weak start on Thursday after a lackluster performance on Wall Street overnight and ahead of Chinese inflation data, while the dollar stood tall against a basket of currencies.

The S&P 500 finished nearly flat on Wednesday as equity indexes had a muted reaction to the minutes from the U.S. Federal Reserve’s most recent meeting, while Micron’s strong results helped buoy the Nasdaq.

European stocks paused on Wednesday around 5-1/2 year highs, but rising confidence that peripheral euro zone economies are starting to recover from the region’s debt crisis helped markets there extend a rally.