Indian Market Likely To Open Flat

Indian shares are likely to open somewhat flat Thursday morning, tracking mixed cues from Asian markets. A lack of positive news may render the mood cautious and prompt investors to lighten commitments at higher levels.

Some volatility is not ruled out. Activity is likely to remain stock specific.

FDC Limited said in a filing to the stock exchanges that it is in process to expand its Production Capacity by Installation of an additional BFS Machine at one of the Company's existing Plant in Maharashtra, at a cost of about Rs 100 crore, over a period of 20 months.

Indian Bank announced that it has raised Tier 1 Capital Fund through private placement of perpetual bonds aggregating to Rs 392 crore.

Infosys Limited's joint venture partner in Saudi Arabia has reportedly filed a lawsuit against the company in a California court, alleging the IT major violated US law on corruption by claiming it was not making money from certain contracts and asked the JV partner to reduce its commission or waive it off completely.

Asian markets are mixed today. While Shanghai and Hong Kong are up sharply, markets in Australia, New Zealand and Japan are exhibiting weakness.

The Indian market ended on a positive note on Wednesday, extending gains to a fifth day, despite staying a bit volatile and swinging between gains and losses almost right through the session.

The benchmark BSE Sensex ended up by 133.14 points or 0.28% at 47,746.22, after hitting a fresh record high of 47,807.85. The National Stock Exchange's Nifty, which scaled a new high at 13,997.00, settled with a gain of 49.35 points or 0.35% at 13,981.95.

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