Cues to note before markets open on Jan 7

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 Cues to note before markets open on Jan 7
Markets are expected to open flat once again. The SGX Nifty is currently down 1 point, suggesting another day of flattish opening. Foreign funds continued to be sellers on Monday and are not aggressive buyers as was largely anticipated.

US markets closed weak in trade on Monday with the US Dow Jones down 44 points. Asian trading has begun on a mixed note with the Hong Kong's Hang Sang currently trading higher, while the Chinese Shanghai Composite is down and the Japanese Nikkei as well.

In stock specific action one would need to keep a watch on telecom companies as the High Court on Monday ruled in favour of conducting revenue audits on telecom companies.

The Britannia stock may see some action after reports that Vinita Bali, who has been Managing Director for several years now, will quit the company in March.

The stock of Infosys which came in for some selling pressure on Monday may see action ahead of its results later this week. The stock was one of the best performing Sensex stocks in 2013.

ONGC may be in action after reports that ONGC Videsh, the overseas investment arm of explorer Oil and Natural Gas Corp , is considering an oil-for-debt deal.

Read more about: sgx nifty, hang sang, nikkei, infosys
Story first published: Tuesday, January 7, 2014, 8:32 [IST]
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