Pre-market: Flat opening seen, April F&O expiry in focus

Markets are likely to open flat amid lacklustre Asian cues and caution ahead of expiry of April derivative contracts

Markets are likely to open flat amid lacklustre Asian cues and investors are likely to turn cautious with April derivative contracts set to expire today.

At 8:25AM, the SGX Nifty was down 7 points at 6,829.     

Asian stocks with the exception of Japan pared early gains as investors turned cautious ahead of China's manufacturing PMI in April.

Major US stock indices ended higher on Tuesday with the broader S&P 500 and tech-laden Nasdaq gaining for the sixth straight session aided by encouraging earnings and positive developments in the healthcare sector.

The Dow Jones ended up 0.4% at 16,514.37, the S&P 500 gained 0.4% to close at 1,879.55 and the tech-laden Nasdaq ended up 1% at 4,161.46.

Stocks in Europe ended higher on the back of the recent developments in the pharmaceutical sector with Pfizer bidding for AstraZeneca in adddition to the asset swap deal between Novartis and GlaxoSmithKline.

The DAX ended up 2% at 9,600.09 and CAC-40 gained 1.2% to close at 4,484.21 and the FTSE-100 ended up 0.85% at 6,681.76.


Stocks in Focus

Reliance Industries will be in focus as the Supreme Court resumes hearing plea on KG-D6 gas pricing.

HDFC Bank may be in focus. The Foreign Investment Promotion Board (FIPB), which is to meet on Wednesday to consider HDFC Bank's proposal for an increase in limit for foreign institutional investor (FII) stake, is unlikely to approve such a move.

Edelweiss Financial board will meet today to consider buyback of equity shares.

Shasun Pharma may extend gains as the board will meet today to consider allotment of shares/warrants to promoters on preferential basis.

HAL Offshore has made an open offer to public shareholders of SEAMEC to acquire upto 26% stake at Rs 97 per share.

Rallis India may gain on robust Q4 earnings.

Stocks of companies which will announce their March quarter earnings today Cairn India, Yes Bank, UltraTech Cement, ACC, Mastek, M&M Financials, L&T Finance Holdings among others will also be in focus.