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Markets are likely to open lower on account of weak global cues after Federal Reserve Chair Janet Yellen raised the possibility of an earlier- than-anticipated increase in interest rates.
The Nifty is expected to retest the 6,500 levels in today's trade. Early indicator, SGX Nifty was down 30 points 6,521
Overnight, U.S. stocks fell on Wednesday and the central bank dropped the U.S. unemployment rate as its definitive yardstick for gauging the economy's strength and made clear it would rely on a wide range of measures in deciding when to raise interest rates.
Equities extended declines after Fed Chair Janet Yellen said the "considerable period" between the end of its quantitative easing program, known as QE, and the first rate increase from the central bank could be six months.
The Dow Jones industrial average fell 0.70 percent, to end at 16,222. The S&P 500 slipped 0.61 percent, to finish at 1,861. The Nasdaq Composite dropped 0.59 percent, to close at 4,308.
In Asia, Japan's Nikkei was trading down 0.5% and Hong Kong's Hang Seng slipped 0.55%. South Korea's Kospi index was trading 0.7% lower and China's Shanghai index was trading up 0.2%.
Stocks to Watch
TCS: Deployed a maintenance, repair and overhaul (MRO) application for Garuda Indonesia Airlines.
MCX & Financial Technologies: The capital markets regulator said FTIL was not ‘fit & proper’ to hold shares in bourses and directed it to sell its holding in the four exchanges and a clearing corporation within 90 days.
NTPC: The government has ordered power major NTPC to furnish a Rs 233 crore bank guarantee to expedite development of a coal block in Chhattisgarh and said failure to submit the surety may result in cancellation of the mine.
Sun TV: Signed a contract with YouTube and iTunes to facilitate the sale of Sun TV proprietary content on a pay-for-view basis.
