Market Likely To Open Flat

Indian equities indices moving higher after giving up robust early morning gains led by financials and auto stocks after drop in inflation and industrial output data fuelled rate cut hopes. The Sensex was up 373.62 points or 1.4% at 27251.10 and the Nifty ended up 108.50 points or 1.3% at 8235.45. The BSE Mid-Cap index rose 159.79 points or 1.56% to settle at 10,433.87, outperforming the Sensex. The BSE Small-Cap index advanced 94.15 points or 0.87% to settle at 10,872.85, underperforming the Sensex.

US stocks finished narrowly mixed on Wednesday, amid a weaker dollar pushed down by disappointing monthly retail sales figures. The S&P 500 closed less than a point lower at 2,098.48. The Dow Jones Industrial Average ended 7.7 points lower at 18,060.49. The Nasdaq Composite eked out a gain of 5.5 points, or 0.1%, settling at 4,981.

U.S. retail sales were flat in April as households cut back on purchases of automobiles and other big-ticket items, indicating the economy was struggling to rebound. The ex-autos figure up just 0.1%, below estimates of a 0.5% gain. Following the retail sales data, market expert expects for second-quarter real annualized GDP growth to 2.0% from 2.5%.

European stocks finished lower Wednesday, marking a second consecutive day of losses. Stocks had been higher earlier Wednesday due to a round of economic data showing modest growth in the eurozone. Eurozone growth in the first three months of the year expanded at its fastest pace in almost two years. It was the first time since the first half of 2010 that all four of the region’s largest economies recorded growth. However, it eventually lost grip of gains, leaving France’s CAC 40 down 0.3% at 4,961.86. In Frankfurt, the DAX 30 dropped 1.1% to 11,351.46. The Stoxx Europe 600 SXXP shed 0.2% to end at 395.46. U.K.’s FTSE 100 UKX ended up 0.2% at 6,949.63.

Asian equities opened mixed on Thursday, mirroring the finish on Wall Street amid fresh worries over the state of the U.S. economy, strengthening the yen and sending Japanese shares lower. Japan’s Topix index slipped 0.52%. South Korea’s Kospi index up by 0.2%. Australia’s S&P/ASX 200 Index slid 0.7%. China's Shanghai Composite down by 0.12% and the Hang Seng index trading at flat.

SGX Nifty is trading down by 16 points. Indian market is likely to open weak. On macroeconomic front, data on inflation based on the wholesale price index (WPI) for April 2015 data will be released on Today. Aditya Birla Nuvo, Ahmednagar Forgings, Amtek Auto, Amtek India, Apar Industries, Arvind, Balkrishna Industries, Castrol India, D B Corp, Essar Ports, Gammon India, Graphite India, Grindwell Norton, GSFC, HEG, JK Tyre, Jubilant Foodworks, Kokuyo Camlin, KKCL, MCX, Monsanto India, NCC, PC Jeweller, Prism Cement, VIP ind and Zydus Wellness would be reporting fourth quarter earnings today.