Indian Markets to open higher tracking firm global and Asian stocks - Standard Chartered Securities

Key benchmark indices edged lower in choppy trade on caution ahead of the Federal Reserve's policy decision. The Sensex and the Nifty trimmed initial steep losses triggered by rupee's slide against the dollar.

FMCG major Hindustan Unilever (HUL) extended losses for the fourth straight day after the company reported a muted growth in volume and topline in Q1 June 2013. Private bank major ICICI Bank declined as the bank's net non-performing assets rose. NTPC extended losses triggered by the company reporting a muted growth in bottomline in Q1 June 2013. HCL Technologies scaled record high after reporting strong Q4 result.

Markets expected to open higher, tracking firm global and Asian stocks. Further, Investors may react positively to US Federal Reserve's decision to continue the QE bond buying program.

Source : Equity Bulls

Keywords