Markets likely to open on a dull note

The domestic equity benchmarks are expected to open on a dull note, tracking range-bound Asian markets. The SGX Nifty was trading lower by 34 points at 10,227.

Stocks like Ultratech Cements and NIIT Technologies will be in focus as these are expected to announce earnings today. MAS Financial Services is set to debut on the bourses today.  

Equity markets struggled for direction in Asia on Wednesday in early trades. Japan's  Nikkei 225 has gained 24 points and  China’s Shanghai Composite has risen 5 points,  while Hong Kong’s Hang Seng is trading flat.  

Back home, equity benchmarks took a breather and ended the session near the flat line after scintillating rally during previous three consecutive days, but the broader market outperformed. The BSE Sensex slipped 25 points to settle at 32,609, while Nifty50 ended record closing high at 10,234. The telecom stocks were buzzing on the bourses as they continued to rally. Idea Cellular rallied about 8%, while Bharti Airtel was up nearly 3% and Bharti Infratel was up by about 1.6%.
    
The US stocks ended Tuesday’s session mostly in the positive territory, with both the Dow and the S&P 500 reaching new record closing highs on the back of positive earnings reports from major companies. The Dow Jones Industrial Average gained 41 points to settle at 22,997. The Dow hit a record of 23,002 in intra-day trade, touching the milestone of 23,000  for the first time in its history. The S&P 500 edged up 2 points to settle at 2,559, while the tech-heavy Nasdaq Composite index slipped just below the neutral line.  
  
The European indices ended Tuesday’s session with moderate losses. The German DAX lost 0.07%, FTSE 100 of the UK shed 0.14% and the French CAC 40 index dipped 0.03%.