Pre-Market: Flat opening likely on cards

Indian stocks are likely to open flat with a positive bias.   

Stocks on Wall Street ended with marginal gains amid a volatile trading session on Friday even as the Fed’s decision to gradually reduce its monetary stimulus measures continued to weigh on investor sentiment.  The Dow Jones and S&P 500 gained 0.3 per cent each while Nasdaq ended down 0.2 per cent.

Asian shares were trading mixed on Monday. Japan’s Nikkei  was up 0.3 per cent on the back of a weaker yen while Straits Times was down 0.5 per cent and Kospi Composite dropped 0.7 per cent.

At 8:00 hrs Indian Standard Time the SGX Nifty was down 36 points at 5,618.

According to technical experts, the overall bias is likely to remain bearish as long as the index trades below 5,755.  Today, the Nifty may seek support around 5,640-5,625, while face resistance around 5,695-5,710.

Mold Tek Technologies Ltd has informed that the Company received its 1st trial order contract from an Ireland based Company.

Reports suggest that exploration major ONGC has forayed into power generation after commissioning the first phase of 363.3MW gas-based power plant in Palatana, Tripura.

Infra companies involves in national highway projects will be in action after the Cabinet Committee on Economic Affairs (CCEA) approved a proposal to allow companies to buy out an existing concessionaire, provided lenders to the project agree and the substituting company takes at least 51 per cent of the equity.

GMR has sought a compensation of $1.4 billion from Maldives for the "wrongful termination" of its 25-year contract to develop and operate the Male International Airport.