Indian markets to open on flat note: Sharekhan

The Indian markets are expected to open on a flat note led by mixed global cues. SGX Nifty is also trading 4 points lower. Volatility may remain high due to F&O Expiry for the month of December.

Coming to IPO Section, Jewellery manufacturer and retailer PC Jeweller will list its equity shares on both the exchanges today (December 27, 2012). The issue price is fixed at higher end of price band of Rs125-135 per share for qualified institutional and non-institutional investors while for retail investors it is Rs130.

On Wednesday (December 26, 2012), the Sensex settled at 19417, up by 162 points while the Nifty closed at 5905, rising by 49 points.

Asian stock markets were capped on Thursday (December 27, 2012) on investor edginess about the chances of US lawmakers striking a deal to avoid a fiscal crunch by December 31, while the yen stayed under pressure on the prospect of drastic monetary easing and massive fiscal spending.

European shares closed provisionally lower in a thin last trading session before the Christmas break with investors opting to trim positions in the absence of a resolution to US budget talks.

US stocks slipped for a third straight day on Wednesday, dragged lower by retail stocks after a report showed that consumers have spent less in the holiday shopping season than last year.

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