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| Markets may see a flat opening |
| SI Reporter / Mumbai Feb 07, 2011, 08:34 IST |
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The Indian markets may open flat on the back of flat Asian cues and the indicator SGX Nifty also trading flat at 5,380. After a 400 points downfall on the last trading session, the markets continue to remain weak in the absence of any positive news to boost the investor sentiments.
On the Asian front, the stocks climbed on Monday, helped by a fall in the U.S. jobless rate which boosted stocks on Wall Street.
Japan's Nikkei average rose to a nine-month high, following a weaker yen against the dollar and after generally strong Japanese corporate earnings last week.The benchmark Nikkei gained 1% and rose to a high of 10,644, the benchmark's highest level since May 6.
In the other markets, Seoul Composite is up 1.5% at 2,104, Jakarta Composite and KLSE Composite has added 0.3% - 0.5%. Straits Times is flat at 3,212 while Hang Seng is the only index trading in the red, down 0.1% at 23,876.
Markets in China, Taiwan and Vietnam continue to remain shut on account of last week's Lunar New Year.
The stocks to watch out for the day are Coal India, Piramal Life Sciences, Ashiana Housing,Career Point Infosystems, Tata Motors and Unitech.
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