Indian Market to open flat to negative - Angel Broking

The Indian market is expected to open flat to negative mirroring similar opening in SGX Nifty and most other Asian markets as investors await the outcome of the Bank of Japan's policy meeting scheduled today.

The US markets were closed on Monday due to the Martin Luther King Day. Meanwhile, European stocks ended on a positive note taking cue from the strong closing to US indices last week and encouraging comments from the German Bundesbank. The bank said in its monthly review that the prospects for the German economy have improved, as companies' expectations have brightened.

Nonetheless, the central bank slashed its forecast for German economy in 2013 to 0.4% from 1.6% earlier and warned that the economy could sink into recession in the winter months.

The Indian markets ended higher for a third consecutive session with yesterday's close. Sentiments remained mildly positive after global ratings agency Moody's reaffirmed India's sovereign rating at 'Baa3' and the outlook as 'stable' for the time being, citing potential for growth, robust domestic savings and a dynamic private sector. Going ahead investors would be watchful of the earnings data coupled with reports on weekly jobless claims, leading economic indicators, and new and existing home sales.

Source : Equity Bulls

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