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Pre Session: Market seen opening flat on mixed global cues
17/06/201
The Indian equity benchmarks are likely to open flat and are expected to trade in a range on Wednesday, tracking mixed cues from Asian peers. In the overnight trade, US stocks ended higher as investors shrugged off concerns over Greece debt repayment talks. Investor will be closely watching the Federal Open Market Committee (FOMC) meeting, which will be held for two days which will give more clarity on US Fed rate hike. Back home, a negative opening of the SGX CNX Nifty Index futures for June delivery further validates a bearish opening for domestic bourses. Back home, shares of HDFC Bank will be in focus after the country’s second-largest private sector bank slashed its base rate by 15 basis points (bps) to 9.70 per cent with effect from Monday.
On Tuesday, the Indian benchmarks closed on a positive note amid a rebound in late trades led by Infosys and bank shares. Trade deficit for the month of May contracted to $10.4 billion as against $11 billion in April largely due to falling gold imports. Further, investors would be closely watching the Federal Open Market Committee (FOMC) meeting, which will be held for two days starting today and tomorrow. Investors are expected to get clarity on US Fed rate hike.
