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Nifty may open in red; eyes on expiry, cricket WC semis

On the data front in the US, February’s durable goods orders posted a decline, rather than the modest expected increase, under pressure from the strong dollar and weak global demand.

With most global markets closing lower overnight and SGX Nifty trading down 47.50 points at 8479 in the morning, the Indian equity market too is likely to open in red.

Traders today would be eyeing the expiry of March series.

Meanhwile all eyes in India would also be on the cricket match when India and Australia fight for a spot in World Cup final 2015 at the Sydney Cricket Ground.

In the US stocks plunged, closing more than 1 percent lower as investors weighed the impact of the strong dollar on the economy and the coming earnings season.

On the data front in the US, February’s durable goods orders posted a decline, rather than the modest expected increase, under pressure from the strong dollar and weak global demand.

Back home too the market remained in a consolidation mode on Wednesday with the 30-share BSE Sensex declining  49.89 points to 28111.83 and the 50-share NSE Nifty losing 12.15 points to 8530.80.

Equities in Europe finished sharply lower as technology weighed and the euro strengthened, despite better-than-expected data from Germany.

From the currency space, the US dollar slips against major world currencies on weak economic data in the US but still held onto gains of more than 7 percent year-to-date.

In commodities, crude prices surge as a weaker dollar, fighting in Yemen and speculative buying boosted prices

Gold from the precious metal space trades near 2 and a half week highs as upbeat German sentiment data helped drive the euro higher against the dollar.

Stocks that would be in focus in India are PSU bank stocks after RBI issuing bank guidelines for relief measures in disaster-hit areas. Gujarat NRE Coke where the Board is mulling a merger of NRE Metcoke & Bajrang Bali Coke with co on March 30.

Some other stocks that could be focus are Adani Power, United Bank of India and Tata Power too would be in focus.

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