Market may open lower on weak Asian stocks

The market may open lower on weak Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 40 points at the opening bell. Asian stocks fell on Tuesday, 6 August 2013, as stronger growth in American service industries fueled speculation the US Federal Reserve will soon be able to reduce economic stimulus.

Power utility firm Tata Power Company unveils Q1 results today, 6 August 2013.

Cipla turns ex-dividend today, 6 August 2013, for dividend of Rs 2 per share for the year ended 31 March 2013 (FY 2013).

IT major TCS said after market hours on Monday, 5 August 2013, that the company has hired 174 college graduates this year in the US. These new hires are a continuation of sustaining and adding STEM (Science, Technology, Engineering and Mathematics) jobs to meet the demands of the company's global customers, TCS said. Over the past four years, the company has recruited over 500 highly skilled college graduates across the US.

Key benchmark indices snapped their 8-day losing trend and registered small gains on Monday, 5 August 2013, as European stocks rose. The S&P BSE Sensex advanced 18.24 points or 0.1% to 19,182.26 on that day, its highest closing level since 1 August 2013.

Foreign institutional investors (FIIs) bought shares worth a net Rs 33.35 crore on Monday, 5 August 2013, as per provisional data from the stock exchanges.

Asian stocks fell on Tuesday, 6 August 2013, as stronger growth in American service industries fueled speculation the US Federal Reserve will soon be able to reduce economic stimulus. Key benchmark indices in Hong Kong, China, Taiwan, Japan, Singapore, and South Korea were off 0.63% to 1.58%.

Most US stocks fell on Monday, 5 August 2013, with benchmark indices pulling away from record highs, as Wall Street considered a report indicating better-than-expected growth in the service sector and a Federal Reserve official's remarks that the central bank is closer to curbing its asset purchases. Federal Bank of Dallas President Richard Fisher, one of the more ardent critics of quantitative easing, told an audience in Portland, Ore., that investors should not count on the Fed to continue its $85 billion in monthly bond purchases indefinitely.

The Institute for Supply Management's non-manufacturing index for the US rose to 56 in July, beating the median estimate and June's 52.2 reading.

The US central bank currently buys $85 billion a month in US debt and mortgage-backed securities. Federal Reserve Chairman Ben Bernanke has on several occasions stressed that the tapering process is dependent on an improvement in data.

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