According to Ventura Securities, market may open on negative note as global markets were subdued.
Sensex, on Wednesday, remained falt and closed at 24,556 as investors adopted a cautious stance ahead of the monthly settlement in the equity derivatives segment.
Among sectors, IT, Teck and Realty ended on a positive note. Among stocks Tata Power , HDFC Bank , Hero Motocorp , Bharti Airtel and Dr Reddys Labs advanced the most. Market breadth was positive with 1,894 advances against 1,067 declines.
Nifty was up by 11 points and closed at 7,329. Today we expect the markets to open on a negative note as global markets were subdued with US markets in red and European markets remaining flat.
US markets ended the day on a negative note, with Dow Jones and Nasdaq both down by 0.3% as losses among retailers overshadowed gains in phone shares and utilities. Also a report being released today may show that the US economy contracted in the first quarter. US markets, today, will see data releases on Prelim GDP, Unemployment Claims, Pending Home Sales, Natural Gas Storage and Crude Oil Inventories.
Asian markets are trading on a mixed note with Nikkei down by 0.1 percent and Hang Seng up by 0.4 percent. SGX Nifty is trading down by 22 points at 7,310. Indian ADRs ended on a mixed note. Among financial ADRs, ICICI Bank was flat and HDFC Bank was up by 0.8 percent. Among IT ADRs, Wipro and Infosys were down by 1 percent and 3.3 percent respectively. Tata Motors was down by 2.5 percent.
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