Cues to note before markets open on Jan 6

Published: Monday, January 6, 2014, 8:39 [IST]

Markets are likely to open lower by around half a per cent, on the back of weak global cues. The SGX Nifty is down 26 points. Most of the Asian markets are trading lower with the Shanghai Composite down almost 2 per cent in trade.

The Hong's Hang Sang and the Jakarta Composite are also trading lower. On Friday, foreign funds and domestic institutions were both net sellers in the markets. Foreign Funds have not made robust purchases at the beginning of the year, as was largely anticipated.

In stocks news, Infosys could be in the limelight after the company appointed two new Presidents. The stock is also likely to see some action ahead of its results later this week.

MCX is also likely to be in the limelight after the board approved a rights issue at the company. The stock, a part of the Financial Technologies Group has been volatile in the last few months.

Realty major Sobha Developers will also be in the limelight as the sales volume at the company saw a drop for the quarter ending Dec 2013. A mild lower reaction in the stock can be expected.

Banking stocks may continue to exhibit volatility ahead of the earnings season. Watch out for some PSU banks in trade today.

GoodReturns.in

Story first published: Monday, January 6, 2014, 8:39 [IST]