Opening Bell: Market may open slightly lower; Wockhardt in focus

Indian indices may open lower today, tracking global cues, and as investors turning cautious ahead of exit polls data for the assembly polls later this week. SGX Nifty’s trends indicate a flat opening with a negative bias. Asian markets had a mixed start due to mounting geopolitical risks in the region and rising expectations of a tighter monetary policy by the US Federal Reserve at its meet next week. The Nikkei was down over 100 points due to a stronger yen, while the Hang Seng was trading flat with a negative bias. On the economic data front, Japan's fourth-quarter gross domestic product was revised up to 1.2 percent from the preliminary figure of 1 percent. In the US, Wall Street closed lower as investors mulled over the prospects of tighter monetary policy and the house republicans' legislation to repeal and replace Obamacare. The Dow was down by 30 points, while the S&P 500 was down nearly 0.30 percent. In Europe, markets closed lower as investors digested fresh economic data and eyed a probable interest rate hike in the US later this month. The FTSE 100 was down over 0.15 percent. The UK House price growth cooled to its weakest level since 2013. Elsewhere, German industrial orders dropped by 7.4 percent in January, the biggest fall since 2009. In India, the markets were in consolidation mode as investors sat on the fence ahead of exit polls. The Nifty is still within a striking distance of 9000. The 30-share BSE Sensex was down 48.63 points at 28999.56 and the 50-share NSE Nifty fell 16.55 points to 8946.90.Supermarket retail chain D-Mart’s initial public offering (IPO) will open on Wednesday. The price band for the issue is in the range of Rs 295-299 and the company has raised Rs 561 crore from anchor investors. Among stocks to watch could be Wockhardt and Hero MotoCorp. The pharma major has received a warning letter from the US drug regulator for its Morton Grove facility in the US. The letter highlights violation of current good manufacturing practices (CGMPs). Hero MotoCorp could also be on investors’ radar after the company announced a dividend of Rs 55 a share on Tuesday. Britain's Upper House of Parliament voted to give lawmakers more power to reject the final terms of the country's exit from the European Union, ignoring pleas from Prime Minister Theresa May's government not to hamstring their negotiations. The dollar stood little changed in early trade, its modest advance from the previous day bogging down as investors started to take a wait-and-see attitude ahead of Friday’ US jobs report. The dollar hit a two-month high against a basket of key currencies last week as federal reserve officials talked up the chances of a rate hike this month, but the greenback is now sitting in a narrow range with a hike seen mostly as a done deal.Crude oil, prices were little changed — giving up gains after Saudi Arabia's oil minister gave mixed messages on future OPEC production cuts, while the market also braced for data that was expected to show a ninth straight weekly increase in US crude inventories.Gold hit a more than four-week low as the dollar strengthened and expectations for a rate hike in the US this month weighed, though moves were muted ahead of key US data this week.