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Markets are likely to open lower tracking weak global cues. The two-day US Federal Reserve meeting ended with its chairman, Ben Bernanke, deciding against immediate tapering of the $85-billion-a-month bond buying programme. The tone of the policy statement was interpreted as slightly "hawkish" by experts. World markets are trading lower following the development.
Trading was volatile following the release of the statement, with the major US stock indexes cutting losses to turn flat and dropping to session lows. Almost 70 percent of stocks on both the New York Stock Exchange and Nasdaq declined, while all 10 S&P 500 sector indexes fell.
Dealers said the market had talked itself into expecting the Fed would make dovish changes to the statement, so it was somehow considered "hawkish" when those did not materialise.
US stocks fell on Wednesday, with the S&P 500 snapping a four-day streak of gains after the Federal Reserve said it had a weaker growth outlook for the economy, even as it held steady with its stimulus program for the time being.
The Dow Jones industrial average slipped 61.59 points, or 0.39 percent, to end at 15,618.76. The Standard & Poor's 500 Index dropped 8.64 points, or 0.49 percent, to finish at 1,763.31. The Nasdaq Composite Index fell 21.72 points, or 0.55 percent, to close at 3,930.62.
Market back home are likely to book profits after touching multiyear high yesterday and amid a volatile session as October series derivative expiry sets in. A weak start is in the offing as benchmark indices will track weak Nifty futures at Singapore Exchange. SGX Nifty is trading at 6242 down 4 points currently.
The market will remain cautious today as traders will roll over positions in the futures & options (F&O) segment from the near month to November series. The near month October derivatives contract will expire today.
Given U.S. shares had reached record highs this week, the resulting profit-taking came as no surprise.
Asian markets suffered a glancing blow on Thursday after the U.S. Federal Reserve's latest policy outlook was deemed less dovish than some had wagered on, lifting both bond yields and the dollar.
Yet the losses were modest with MSCI's index of Asia-Pacific shares outside Japan off just 0.2 percent. Shares in Australia lost a tenth of a percent while Japan's Nikkei eased 0.3 percent.
Back home, Bank of Baroda, Bank of India, Dr Reddy's Labs, I D F C, Sesa Sterlite, Titan Inds will unveil their second quarter earnings.
STOCKS TO WATCH
The government on Wednesday asked Reliance Industries to give up 81 per cent of its KG-D6 gas block, including five discoveries, as the time allocated for producing from these had expired.
Infosys Ltd, India's second-largest IT services exporter, has agreed to pay $34 million in a civil settlement with US authorities investigating its use of visas in the United States, the company said on Wednesday.
The government today approved a policy for procuring medicines produced by Central PSUs, a move which aims at optimum utilisation of such units while ensuring availability of medicines at lower prices.
Trading was volatile following the release of the statement, with the major US stock indexes cutting losses to turn flat and dropping to session lows. Almost 70 percent of stocks on both the New York Stock Exchange and Nasdaq declined, while all 10 S&P 500 sector indexes fell.
Dealers said the market had talked itself into expecting the Fed would make dovish changes to the statement, so it was somehow considered "hawkish" when those did not materialise.
US stocks fell on Wednesday, with the S&P 500 snapping a four-day streak of gains after the Federal Reserve said it had a weaker growth outlook for the economy, even as it held steady with its stimulus program for the time being.
The Dow Jones industrial average slipped 61.59 points, or 0.39 percent, to end at 15,618.76. The Standard & Poor's 500 Index dropped 8.64 points, or 0.49 percent, to finish at 1,763.31. The Nasdaq Composite Index fell 21.72 points, or 0.55 percent, to close at 3,930.62.
Market back home are likely to book profits after touching multiyear high yesterday and amid a volatile session as October series derivative expiry sets in. A weak start is in the offing as benchmark indices will track weak Nifty futures at Singapore Exchange. SGX Nifty is trading at 6242 down 4 points currently.
The market will remain cautious today as traders will roll over positions in the futures & options (F&O) segment from the near month to November series. The near month October derivatives contract will expire today.
Given U.S. shares had reached record highs this week, the resulting profit-taking came as no surprise.
Asian markets suffered a glancing blow on Thursday after the U.S. Federal Reserve's latest policy outlook was deemed less dovish than some had wagered on, lifting both bond yields and the dollar.
Yet the losses were modest with MSCI's index of Asia-Pacific shares outside Japan off just 0.2 percent. Shares in Australia lost a tenth of a percent while Japan's Nikkei eased 0.3 percent.
Back home, Bank of Baroda, Bank of India, Dr Reddy's Labs, I D F C, Sesa Sterlite, Titan Inds will unveil their second quarter earnings.
STOCKS TO WATCH
The government on Wednesday asked Reliance Industries to give up 81 per cent of its KG-D6 gas block, including five discoveries, as the time allocated for producing from these had expired.
Infosys Ltd, India's second-largest IT services exporter, has agreed to pay $34 million in a civil settlement with US authorities investigating its use of visas in the United States, the company said on Wednesday.
The government today approved a policy for procuring medicines produced by Central PSUs, a move which aims at optimum utilisation of such units while ensuring availability of medicines at lower prices.
