Market may open flat

Wednesday was a wonderful day for the Indian equities, Sensex almost settled at 32,000 and Nifty was near the 9,900 mark. Pharmaceutical stocks stayed on buyer’s radar along with metal and telecom stocks. The broader market saw good traction. The BSE Mid cap index rose 1.01 per cent, while Small cap index was up by 0.99 per cent.

The majority of the European indices ended Wednesday’s session firmly higher. The CAC 40 of France climbed 0.83 per cent to emerge as the top gainer, followed by the FTSE 100 of the U.K. rose 0.55 per cent and the DAX of Germany scaled 0.17 per cent.

Wall Street ended the Wednesday’s session with decent gains. Better-than-expected earnings from financial giant, Morgan Stanley (MS) and a report from the Commerce Department showing strong rebound in housing starts in June lifted the trader's sentiments. All of the main equity benchmarks registering a new record closing high. The Dow Jones Industrial Average gained 66 points to finish at 21,641. The Nasdaq Composite Index surged 41 points to close at 6,385. The S&P 500 climbed 13 points to 2,474.

Asian stocks climbed in early trade on Thursday; Japan’s Nikkei 225 has surged 0.35 per cent to 20,092, Hong Kong Hang Seng has gained 0.10 per cent to 26,699 and China’s Shanghai Composite which is trading flat at 3,233.

Indian share may witness a muted opening. The muted trend in SGX Nifty trading, which was at 9,919, down by 9 points, gestured a quiet opening. Reliance Industries, Kotak Bank, Wipro and Bajaj Auto are slated to report their earnings today.