Markey may open flat; Q4 GDP data eyed

Trading of CNX Nifty futures on the Singapore stock exchange indicates a flat opening on the domestic bourses on Friday, 31 May 2013. On the macro front, the government will announce Q4 March 2013 gross domestic product (GDP) data today, 31 May 2013. Asian markets were trading mostly higher tracking gains in US markets.

Shares of ITC turn ex-dividend today, 31 May 2013 for a dividend of Rs 5.25 per share for the year ended 31 March 2013.

Shares of Sesa Goa turn ex-dividend today, 31 May 2013 for a dividend of Rs 0.10 per share for the year ended 31 March 2013.

Beer maker United Breweries' net profit declined 19.64% to Rs 5.85 crore on 7.06% growth in total income from operations (net) to Rs 1003.62 crore in Q4 March 2013 over Q4 March 2012. The result was announced after trading hours on Thursday, 30 May 2013.

On a consolidated basis, real estate developer DLF reported a net loss of Rs 4.19 crore for Q4 March 2013 as compared to net profit of Rs 211.70 crore for Q4 March 2012. Total income fell 15.6% to Rs 2318.79 crore in Q4 March 2013 over Q4 March 2012. The result was announced after trading hours on Thursday, 30 May 2013.

Bharat Electronics' net profit rose 77.5% to Rs 592.70 crore on 22.2% growth in net sales to Rs 2727.63 crore in Q4 March 2013 over Q4 March 2012. The result was announced after trading hours on Thursday, 30 May 2013.

Shares of Apollo Hospitals Enterprise, GlaxoSmithkline Consumer Healthcare, Oil India and Wockhardt may see action ahead of their inclusion in MSCI India Index from close of today, 31 May 2013.

Key benchmark indices eked out small gains on Thursday, 30 May 2013 in volatile trade as European stocks rose. The S&P BSE Sensex advanced 67.76 points or 0.34% to settle at 20,215.40, its highest closing level since 20 May 2013.

Foreign institutional investors (FIIs) bought shares worth a net Rs 787.47 crore on Thursday, 30 May 2013, as per provisional data from the stock exchanges.

On the macro front, the government will announce Q4 March 2013 gross domestic product (GDP) data today, 31 May 2013. India's GDP grew 4.5% in Q3 December 2012, sharply slower than the 5.3% expansion reported for Q2 September 2012.

The Reserve Bank of India (RBI) undertakes mid-quarter review of the monetary policy on 17 June 2013. The RBI on 3 May 2013 cut its key policy rate viz. the repo rate by 25 basis points (bps) to 7.25% and kept the cash reserve ratio (CRR) for banks unchanged at 4% after a monetary policy review. RBI said at that time that the balance of risks stemming from its assessment of the growth-inflation dynamic provides little space for further monetary easing. The RBI said it will endeavour to condition the evolution of inflation to a level of 5% by March 2014, using all instruments at its command.

The finance ministry in October 2012 announced a five-year plan to cut fiscal deficit. The government hopes to reduce the fiscal deficit to 3% by March 2017.

Asian markets were trading mostly higher tracking gains in US markets. Key benchmark indices in Hong Kong, South Korea, Taiwan and Indonesia were down by 0.01% to 1.56%. Key benchmark indices in China and Singapore were down by 0.14% to 0.84%.

US stocks climbed Thursday, with the S&P 500 index on track for its longest monthly win streak since September 2009, as another report cast a positive light on the US housing market.

Fed Chairman Ben Bernanke said last week that an improvement in data could trigger the central bank to start tapering its asset purchases in coming months, stoking fears that the $85-billion-a-month liquidity injection will soon come to an end.

The Organization for Economic Cooperation and Development (OECD) on Wednesday cautioned that global growth could get hit as governments pare back easy-money programs. The OECD gave a bleaker forecast for the euro-zone economy this year. Also, the International Monetary Fund on Wednesday cut its estimate for China's economic growth in 2013 and 2014.

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