After PSBs bonanza party, markets may take a breather

The Indian markets are expected to open lower as cues from the Asian peers are dull as also the negative closing on Wall Street in overnight trade. The SGX Nifty is trading at 10,269 with loss of 25 points.  

The stocks of companies like Biocon, Crompton Greaves Consumer Electricals, Cummins India, Equitas Holdings, GIC Housing Finance, Jubilant Foodworks, Yes Bank, L&T Finance Holding, SREI Infra, Vijay Bank, Whirlpool of India and United Spirits will be in focus today as these are expected to announce earnings today.  

Major indices in Asia were mixed on Thursday. Hong Kong’s Hang Seng has lost 32 points, whereas Japan's Nikkei 225 and China’s Shanghai Composite have gained 32 and 14 points, respectively.  

Back home, Wednesday’s session has to be one of the momentous days in the history of Indian markets. The public sector banks (PSBs) were the jewels of this memorable day as markets cheered PSBs recapitalisation bonanza by the government. The Nifty PSU Bank posted a stellar gain of 30%. At the end of the day, Sensex spiked 435 points to close at 33,042.50 while Nifty surged 88 points to end at 10,295. The broader market also ended the day with strong gains as Nifty Mid-Cap and Small-Cap indices gained 1.61% and 1.58%, respectively.   

The US stocks ended Wednesday’s session with losses on the back of a string of disappointing earnings. The Dow Jones Industrial Average slipped 112 points to 23,329, the Nasdaq Composite Index declined 35 points to 6,564 and the S&P 500 fell 12 points to 2,557.  

The European indices, after oscillating in a range for most part of the trading session, ended Wednesday’s session in the negative territory as investors were cautious ahead of ECB policy decision. The French CAC 40 index shed 0.37%, Germany's DAX dropped 0.46% and FTSE 100 of the UK finished lower by 1.05%.