Focus on Kishore Biyani Today as Nifty Likely to Open Flat

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Focus on Kishore Biyani Today as Nifty Likely to Open Flat
Credit: © Reuters.

By Aditya Raghunath -- Market cues indicate that the markets are likely going to take a breather in opening trade. Nifty and BSE Sensex are expected to open flat today as markets digest the over 8.5% gains made in the last three trading sessions.

Sensex will look to consolidate its position over the 50,000 mark while Nifty will focus on staying over 14,750. Nifty 50 Futures in Singapore is trading down 0.1% which is the clearest indication that markets will open flat.

Indian markets will also take into account the fact that Kishore Biyani, founder of Future Group, and his brother have been barred from the securities market by SEBI (Securities and Exchange Board of India) for a year on charges of insider trading. While reports say this will have no effect on the Reliance Industries Ltd (NS: RELI )-Future Group deal, it remains to be seen how markets will process this information today.

Asian markets are trading lower with Nikkei 225 down 0.43% and KOSPI down 0.76%. Both these markets also gained for the last three days.

US Futures are trading up after a slight increase in the markets on Wednesday. Dow Futures are up 0.14% while S&P and Nasdaq 100 Futures are up 0.2% and 0.37% respectively.

Crude oil has gained 0.61% and is now trading at $56.09.

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