Pre-market: Weak opening seen following global cues

Stocks to watch: Hero MotCorp, Bharti IArtel and Kingfisher Airlines

Markets are likely to open on a cautious note following cues from global markets. All eyes would be watching the RBI policy review which is set to be announced on Tuesday.

 

On the global front, the Federal Open Market Committee (FOMC) holds a two-day meeting on the interest rates in the United States on 19 and 20 March 2013.

 

Meanwhile, the broader market measure S&P 500 Index is just a couple points away from its all-time closing.

 

In Asia this morning, Exporters opened lower with the dollar and the euro falling against the yen, in line with growing uncertainty over the economic outlook in Europe and the U.S. The Nikkei is down 1.78% at 12,336. The SGX Nifty has slipped over 50 points in morning deals.

 

Three power distributing companies (discoms), managed by Reliance Infra in the state, owe Rs 2,649.95 crore dues to the state owned bulk power trader Gridco towards power purchase and securitised loans, as per government data revealed in the state assembly.

 

The Karnataka High Court has urged the UB Group comprising UB Holdings and Kingfisher Airlines to come up with a concrete plan on how it intends to pay dues worth around Rs 330 crore towards a clutch of aircraft lessors. Kingfisher may be in focus after this.

 

Hero MotoCorp, which is set to kickstart its international business by foraying into new geographies by the end of this financial year, will design and develop all future products taking into account requirements in global markets.

 

The department of telecommunications (DoT) has asked Bharti Airtel to stop 3G services within three days in the seven circles it does not have the required licences.

 

The state labour department has asked the authorities Odisha Sponge Iron & Steel Ltd (OSISL) to resume operations.