Market may open slightly higher

Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 10 points at the opening bell. The government unveils Q2 September 2013 GDP growth data today, 29 November 2013.

Tech Mahindra after market hours on Thursday, 28 November 2013 said that a meeting of the board of directors of the company will be held on Friday, 29 November 2013, to consider a Scheme of Amalgamation of Mahindra Engineering Services with the company.

Syndicate Bank after market hours on Thursday, 28 November 2013 said that a meeting of the board of directors of the bank will be held on 3 December 2013, for considering issuance of equity shares aggregating to Rs 200 crore by way of preferential allotment in favour of Government of India. The Government of India holds 66.17% stake in Syndicate Bank (as per the shareholding pattern as on 30 September 2013).

 

On macro data front, India's economic growth is seen recovering a bit in Q2 September 2013. The GDP growth for Q2 September 2013 is projected at 4.7%, as per the median estimate of a poll of economists carried out by Capital Market. India's GDP grew at its slowest pace in four years at 4.4% in Q1 June 2013. The government unveils Q2 September 2013 GDP growth data today, 29 November 2013.

The Reserve Bank of India (RBI) announces next Mid-Quarter Review of Monetary Policy for 2013-14 on 18 December 2013. The Third Quarter Review of Monetary Policy for 2013-14 is scheduled 28 January 2014.

Gains in world stocks aided gains on the domestic bourses in what was a choppy trading session on Thursday, 28 November 2013. The S&P BSE Sensex garnered 114.65 points or 0.56% to settle at 20,534.91 on that day, its highest closing level since 25 November 2013.

Foreign institutional investors (FIIs) bought shares worth a net Rs 102.91 crore on Thursday, 28 November 2013, as per provisional data from the stock exchanges.

Most Asian stocks fell on Friday. Key benchmark indices in China, Indonesia, South Korea, Singapore, and Japan were down 0.03% to 0.36%. Key benchmark indices in Hong Kong and Taiwan were up 0.38% to 0.42%.

Consumer prices excluding fresh food, the Bank of Japan's gauge for its 2 percent inflation target, rose 0.9% from a year earlier, a fifth straight gain, according a government report today.

The US stock market remained shut on Thursday, 28 November 2013, for the Thanksgiving holiday. The market will close early at 1:00 p.m. today, 29 November 2013.

Investors have been keeping watch on economic data in the United States as the Federal Reserve monitors the pace of recovery to gauge when it will begin to reduce monetary stimulus for the US economy, which has been aimed at encouraging growth. The Fed has said improvement in the labor market is a key factor in its policy assessment. The Federal Open Market Committee (FOMC) holds a two-day policy meeting on interest rates in the United States on 17-18 December 2013. The US central bank currently buys bonds worth $85 billion a month in a bid to hold interest rates low and encourage economic growth in the world's biggest economy. Minutes of the Fed's October meeting released on 20 November 2013 showed officials may reduce their $85 billion a month of bond buying if the economy improves as anticipated.

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