Cautious opening likely for Mkts ahead of F&O expiry

Indian Indices:

The key domestic benchmarks are likely to open on a cautious note today mirroring a mixed trend in Asian stocks. SGX Nifty is trading 9.50 points lower.

The April 2014 F&O contracts expire today (April 23, 2014) as the stock markets would be shut on Thursday on account of Parliamentary elections in Mumbai.

Events for today:

Results: M&M Financial Services, UltraTech Cement, Yes Bank, Cairn India, Indiabulls Real Estate, L&T Finance Holdings

Indian shares ended flat on Tuesday after hitting record highs for a second consecutive session as the momentum waned ahead of the expiry of monthly derivative contracts and on expectations that current levels sufficiently price in fundamentals. The BSE Sensex and NSE Nifty fell 0.03%.
On Tuesday (April 22, 2014) Sensex closed at 22758.37, down by 6.46 points, while the Nifty fell 2.30 points to close at 6815.35.

Global Market

Asian stocks were trading mixed as weak China manufacturing data offset a rally in US equities

US stock indices ended higher on Tuesday with the broader S&P 500 and tech-laden Nasdaq gaining for the sixth straight session aided by encouraging earnings and positive developments in the healthcare sector.

European shares rose on Tuesday, boosted by mergers and acquisitions activity in the pharmaceuticals sector and by bullish euro zone consumer confidence data.

Major Headlines of the day

Tech M bags deal from New Hampshire’s motor vehicles division.

Suzuki has to double equity in Gujarat arm.

Novartis-GSK-Eli Lilly deal may affect Indian market.

SGX Nifty

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