Markets seen opening flat on global cues

Q3 earnings to weigh on investor's sentiments

Markets are likely to mirror cues from global peers and open soft this morning. The result season, both in India and globally, would decided market direction from here on.

U.S. stocks ended mixed Tuesday, as investors sat on the sidelines ahead of corporate earnings later this week. Dow advanced 28 points to 13,534 while Nasdaq ended in red.

In Asia, markets traded mostly in red. The Nikkei has slipped 1.3% at 10,735. Hang Seng, Taiwan Weighted are also in the negative zone. At 700 hrs IST, the SGX Nifty was flat at 6,078.

In individual stocks, watch out for Bajaj Auto as it announces results later in the day. Essar Oil may react to its dissapointing numbers
today. The company posted a net profit of Rs 32 crore for the third quarter of FY13 against a net loss of Rs 362 crore during the same period last year.

During the quarter under review, Essar also saw an 86% rise is gross revenue to Rs 25,909 crore, compared to Rs 13,897 crore in the third quarter of 2011-12.

HCL Infosystems will spin off three businesses — hardware, learning and services — into separate units. This is to create a leaner structure and to have greater control over the operational and financial performance of each unit.

The uncertainty surrounding the revival of grounded Kingfisher Airlines Ltd appears to have persuaded a few banks to reduce their stake in the carrier by selling the shares acquired through a loan conversion, at lower prices. This can bring the stock in focus.

Adani Group has finalised the terms and conditions to buy out construction major Larsen & Toubro and Tata Steel’s stakes in Dhamra Port Company Limited in Odisha for an enterprise valuation of close to $1 billion. The stocks will be in the limelight today.