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Pre-market: Gap down opening seen

GDP nos, F&O expiry to keep index under pressure

SI Reporter  |  Mumbai 

Weak global cues, F&O expiry for the May series and the GDP for Q4 due today will keep the under pressure in trade today.

US stocks tumbled on Wednesday as surging bond yields in Spain and Italy ratcheted up tensions in financial about Europe's ability to solve its growing debt crisis. The Dow Jones industrial average lost 1.3 per cent, while the S&P 500 Index dropped 1.4 per cent.

Asian shares, the euro and oil prices fell on Thursday. Japan's Nikkei average slid 2 per cent, while MSCI's broadest index of Asia-Pacific shares outside Japan looked set to revisit its 2012 low with a decline of 0.8 per cent.

Back home, the index may look to re-test the 5,020-odd level again. However, given the derivative expiry higher volatility may not be ruled out, analysts suggest. At 710 am Indian Standard Time, the SGX Nifty was trading at 4,892 – down 0.8 per cent.

Among individual stocks, HDIL, BGR Energy, GMR Infra and Gail India are some of the stocks that will react to their respective March quarter results declared on Wednesday.

Essar Ports could also be in focus today on reports that Port of Antwerp International has invested Rs 175 crore in the company as part of a strategic alliance.

Telecom stocks could also be in focus today on reports that the Cabinet is likely to take a decision on the National Telecom Policy today. If approved, the policy would pave the way to free national roaming.

First Published: Thu, May 31 2012. 08:06 IST