Markets are likely to open marginally lower as investors are likely to book profits after recent gains while weak Asian cues and geopolitical tensions would weigh on sentiment.
At 8:30AM, the early indicator, SGX Nifty was down 30 points at 8,115.
On the global front, Asian shares pared early gains and were trading lower. The benchmark Nikkei was down 0.16%, while the Hang Seng was down 0.2%. Chinese shares were trading flat while Singapore’s Straits Times was trading marginally lower by 0.2%.
Stocks on wall Street ended higher on Wednesday but the tech-laden Nasdaq ended lower weighed down by Apple shares. Investors also turned cautious ahead of the ECB meeting on Thursday.
The Dow Jones ended up 0.06% at 17,078.28, the broader S&P 500 closed 0.08% down at 2,000.73 and the tech-laden Nasdaq ended down 0.56% at 4,572.57.
STOCKS TO WATCH
United Spirits will face selling pressure after the company reported a consolidated net loss of Rs 4,489 crore for the year ended March 31, 2014.
DLF will also be in action after the Punjab and Haryana High Court on Wednesday set aside the Haryana government’s decision to allot 350 acres of land in Wazirabad, Gurgaon, to the country’s largest real estate developer DLF in 2010.
Shares of Mangalore Chemicals & Fertilisers and United Breweries will be in action ahead of their AGMs today.
Idea Cellular will see some action after Providence plans to sell 2.4% stake in the telecom major.
Eyeing Latin America’s mining industry, Pune-based centrifugal pumps and valves manufacturer Kirloskar Brothers Ltd (KBL) has signed a memorandum of understanding (MoU) with Peru’s National Water Authority (ANA) help the water authority in the management of water resources in Peru.