According to Ventura Securities, the markets to open flat and trade in a narrow range.
Sensex, on Monday, increased by 17 points and closed at 26,437, but were muted due to fall in metal stocks after Supreme Court declared coal block allocations between 1993 and 2010 as illegal. Among the stocks, TCS, Dr. Reddys and Hero Motocorp were the ones which gained the most while among sector indices FMCG, IT and Teck ended on a positive note. Market breadth was negative with 1,358 advances against 1,659 declines.
Nifty was down by 7 points and closed at 7,906. Today we expect the markets to open flat and trade in a narrow range, investors also increasingly expect the European Central Bank to expand liquidity as soon as next week to boost the sagging euro zone economy - just as the US Federal Reserve plans to end its bond-buying drive.
US markets ended positive with Dow Jones up by 0.4 percent and Nasdaq up by 0.4 percent, as expectations grew that the European Central Bank would move to boost economic growth if inflation slows further. Today will see data releases on Core Durable Goods Orders m/m and CB Consumer Confidence.
Asian markets are trading mixed with Nikkei down by 0.4 percent and Hang Seng down by 0.1 percent. SGX Nifty is trading down by 4 points at 7,913. Indian ADRs ended on a negative note. Among financial ADRs, ICICI Bank and HDFC Bank were down by 1.5 percent and 0.2 percent respectively. Among IT ADRs, Wipro was down by 1.1 percent and Infosys was up by 0.5 percent. Tata Motors was down by 0.1 percent.
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