Market may open slightly lower

Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 11.50 points at the opening bell. The stock market remained closed on Wednesday, 25 December 2013, on account of Christmas.

The market may remain volatile today, 26 December 2013, as traders roll over positions in the futures & options (F&O) segment from the near month December 2013 series to January 2014 series. The near month December 2013 derivatives contracts expire today, 26 December 2013.

HDFC Bank announced after market hours on Tuesday, 24 December 2013 that the board of directors of the bank at its meeting held on Tuesday, 24 December 2013, has appointed Mr. Paresh Sukthankar as the Deputy Managing Director of the bank for a period of 3 years from 24 December 2013 to 23 December 2016 subject to the approval of the shareholders and Reserve Bank of India. Mr. Sukthankar currently holds 6.87 lakh equity shares of the bank, HDFC Bank said.

HDFC Bank also said that it has appointed Mr. Kaizad Bharucha as an Additional Director and as an Executive Director of the bank for a period of 3 years from 24 December 2013 to 23 December 2016 subject to the approval of the shareholders and Reserve Bank of India. Mr. Bharucha currently holds 7.66 lakh equity shares of the bank, HDFC Bank said.

Grasim Industries said at the fag end of trading session on Tuesday, 24 December 2013 that the operations of the company's chemical plant at Vilayat in Gujarat have resumed. The company has also commenced the operations of the downstream Epoxy Plant at Vilayat. The full capacity at both these plants will be achieved in a phased manner, Grasim said. The company had announced on 7 October 2013 that operations of the company's chemical plant were suspended due to unexpected floods affecting the plant/power supply.

Key benchmark indices edged lower, snapping their two-day winning streak on Tuesday, 24 December 2013. The S&P BSE Sensex lost 68.32 points or 0.32% to settle at 21,032.71 on that day, its lowest closing level since 19 December 2013.

Foreign institutional investors (FIIs) bought shares worth a net Rs 40.67 crore on Tuesday, 24 December 2013, as per provisional data from the stock exchanges.

Asian stocks rose on Thursday led by Japanese stocks. Key benchmark indices in Taiwan, Japan, Singapore and South Korea rose by 0.11% to 0.91%. China's Shanghai Composite fell 1.03%. Stock markets in Hong Kong and Indonesia were shut today for holidays.

China's ruling Communist Party reportedly unveiled on Wednesday a five-year plan to fight pervasive graft, with particular attention on corruption that triggers protests or happens in the course of economic reforms. President Xi Jinping has launched a sweeping crackdown on corruption since taking power, pursuing high-flying "tigers" as well as lowly "flies" in the government, military, state-owned enterprises and universities

China's economy this year is likely to expanded 7.6%, compared with the government's 7.5% target, a News Agency in China reportedly said, citing a report by the State Council.

US stock markets remained closed on Wednesday, 25 December 2013 for Christmas.

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