Markets to open flat; F&O expiry eyed

Indian Indices:

Market is expected to open on a flat note on Thursday amid weak trend in most of the Asian markets. SGX Nifty is trading 11.00 points lower.

The future & options (F&O) expiry, which is due later today, is further expected to add volatility to the markets.

Indian shares rose on Wednesday, snapping a two-session losing streak as blue-chips such as Bharti Airtel Ltd, Lupin Ltd and Dr Reddy’s Laboratories Ltd gained after their earnings beat estimates.

On Wednesday (July 30, 2014) Sensex closed at 26087.42, up by 96.19 points, while the Nifty rose 42.70 points to close at 7791.40

Global Market:

Asian equities are mixed on Thursday following robust US economic data and as investors braced for Argentina to default on its debt for the second time in twelve years.

US stocks finished a choppy session slightly higher, as the Federal Reserve appeared to soothe fears that it might start raising interest rates sooner than anticipated.

European shares closed lower on Wednesday, as strong U.S. growth failed to offset some weak earnings reports and concern the conflict between Russia and Ukraine will escalate.

Major Headlines of the day.

Sesa Sterlite gets public nod to expand Lanjigarh refinery capacity.

Piramal-Dutch pension fund to make first infra investment in 6 mths.

Inox acquires Satyam Cineplex for Rs182 cr

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