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Indian stocks are likely to open flat ahead of RBI’s policy review later today.
Benchmark US share indices ended lower on Friday for the third week in four on rising concerns that global central banks might soon start curtailing their stimulus measures. The Dow Jones, S&P 500 and Nasdaq ended down over 0.6 per cent each.
Asian markets were trading flat ahead of the US Fed meeting. The Nikkei was up 0.2 per cent.
At 8:00 hrs Indian Standard Time the SGX Nifty was almost flat.
According to technical experts, the overall trend remains down, so one can also use the current pull-back as an opportunity to exit stuck longs. Today, the NSE index is likely to seek support around 5,780-5,760, while face resistance around 5,840-5,860.
Shares of rate sensitive sectors such as banks, auto and realty will be action ahead of RBI’s policy review.
Mahindra Forgings, Mahindra Composites and Mahindra Ugine Steel will be in action after the Mahindra Group and Spain’s CIE Automotive announced the signing of a global alliance in auto components.
Blue Star said that the Company has arrived at a settlement with the workmen at its Wada Factory and the workmen have resumed duty from June 14.
Infosys said that its US arm has been awarded a one-year contract valued at $49.5 million by the US District of Columbia.
Air Water Inc has made an open offer to acquire 1.7 million fully paid-up equity shares of Ellenbarrie Industrial Gases of face value Rs 10 each at a price of Rs 316.94 per share.
