Market Likely To Open Flat
For the most part of the day, Indian equities markets traded with a negative bias on the last day of May F&O expiry, growing concerns over muted corporate earnings so far and mixed global cues pulled down markets. The Sensex slipped by 57 points to close at 27,506.71 points due to across the board selling mainly in pharma, banking and oil stocks. The Nifty closed at 8,319.00; down 15.60 points. The BSE Mid-Cap index fell 56.43 points or 0.53% to settle at 10,560.04. The BSE Small-Cap index fell 17.37 points or 0.16% to settle at 11,145.04.
U.S. stocks fell slightly Thursday, following a sell-off in the Chinese market and continued worries about the approaching debt payment deadline for cash-starved Greece. Investors’ worried about the possibility of raising interest rates this year. The S&P 500 closed 2.69 points, or 0.1%, lower at 2120.79. The Dow Jones Industrial Average dropped 36.87 points, or 0.2%, to 18,126.12. The Nasdaq Composite Index fell 8.62 points, or 0.2%, to 5,097.98, retreating slightly from the record level reached on Wednesday.
The price of U.S. oil rose 17 cents to USD 57.68 a barrel after being down USD 1 a barrel earlier. Brent crude rose 52 cents to USD 62.58 in London.
Renewed uncertainty over Greece also made for an unsettled mood as eurozone officials continued to distance themselves from Greece’s claims that a crucial reforms-for-funding deal with its creditors was near. Greek stocks fell 1.7%. Germany's DAX lost 0.8%, France's CAC-40 lost 0.9% and the U.K.'s FTSE 100 index rose 0.1%.
Chinese share markets extended a bruising selloff on Friday after the previous day's plunge by 6.5%, the rest of the region overlooked a softer. Japan’s Topix index added less than 0.17%, with the measure swinging between gains and losses. South Korea’s Kospi index added 0.42%. Australia’s S&P/ASX 200 rose 1.25%, while New Zealand’s NZX 50 Index climbed 0.87%. Shanghai stock market wavered between gains and losses and currently fall 0.2%.
India’s GDP data of March quarter releasing today. As per street estimates, Q4 GDP is seen slowing down on a sequential basis at 7.2% compared to 7.5% in Q3 FY15. Since SGX Nifty fell 15 points. Indian markets likely to open flat. 3M India, Anant Raj, BEML, Berger Paints, Bliss Gvs Pharma, Bosch, Cipla, Elgi Equipments, Gitanjali Gems, Glenmark Pharma, Gmr Infra, Hathway Cable, HBL Power, IFB INDUSTRIES, IL&FS Engineering, Indian Oil Corp, ITDC, Jet Airways, JM Financial, Just Dial, Kwality, Lovable Lingerie, M&M, Mcdowell Holdings, MOIL, Info Edge (India), NHPC, Oil India, RCom, SAIL, Sun TV, Sun Pharma, Suzlon Energy, TRF and Venkys would be reporting fourth quarter earnings today.