Indian Market Likely To Open Flat

Indian equities indices slipped for the fourth straight session on Wednesday due to profit-booking, particularly in capital goods and banking shares amid concern bad loans are rising. The Sensex fell over 117 points to slip below the 29,000-mark and in last four days lost 798.66 points or 2.69%. However The Sensex jumped 6.1% last month. The Nifty also declined further by 32.85 points or 0.38% to end at 8,723.70. The BSE Mid-Cap index fell 26.85 points or 0.25% to settle at 10,741.38. The BSE Small-Cap index rose 5.62 points or 0.05% to settle at 11,432.40, outperforming the Sensex.

The U.S. stock markets mostly lower on Wednesday on news that the ECB revoked a waiver that allowed banks to use Greek government debt as collateral for loans. Only the Dow Jones Industrial Average managed to close higher by 0.04 percent. The S&P 500 fell 8.52 points, or 0.4%, to 2,041.51, plunging during the last 15 minutes of the session and the Nasdaq sank 11.03 points, or 0.2 percent, to 4,716.70.

European stock markets ended a choppy session mostly higher Wednesday, as investors watched developments in Greece’s debt negotiations. The Stoxx Europe 600 index rose 0.5% to 372.10, its third straight gain. France's CAC 40 rose 0.4% and Germany's DAX edged up 0.2%. Britain's FTSE 100 closed with a loss of 0.2%, hurt by a decline in oil-company stocks.

The crude oil price on Wednesday abruptly fell below USD 50 again. The decline began before trading opened when prices hovered around USD 52 a barrel. WTI oil prices were extremely volatile, dipping 9.5% to USD 48.45 a barrel. Brent oil prices tumbled 6.92% to USD54.16.

Asian equity markets mixed on Thursday as traders weigh Greece worries and China stimulus. Japan’s Topix fell 0.4% and South Korea’s Kospi index lost 0.74%. Australia’s S&P/ASX 200 Index up by 0.3% after negative open, while New Zealand’s NZX 50 Index up by 0.2%. Chinese equities rallied after the People's Bank of China (PBoC) jumped on the easing bandwagon. The Shanghai Composite Index climbed 0.85% and the Hang Seng Index up by 0.5%.

SGX Nifty is trading in green and up by 10 points. Indian market may expect to open flat. AIA Engineering, Allahabad Bank, Amrutanjan Health Care, Apar, Apcotex, Arvind, Ceat, Dhanuka Agritech, Godfrey Phillips, Greenply, Heg, Hinduja Global, Hindustan Copper, IOB, IRB, Jubilant FoodWorks, K.P.R.Mill, Petronet LNG, PTC India, SJVN, Talwalkars, Tata Motors, and UCO Bank would be reporting third quarter earnings today.