Indian equities might continue to languish near the current levels in the next 4-5 trading sessions on flattish global cues. On Wall Street stocks finished mixed but were little moved by Thursday's deluge of economic data as volumes thinned on the last trading day before the three-day Christmas holiday. Asian markets are trading in red on Friday morning.
News Bytes
* Strides to up stake in Australian pharma to 94%
* Titan to double Sonata sales over 3-4 yrs
* Temasek buys 3% pie in Max India
* GPI, ITC resume cigarette production
* Sugar hits fresh 30-year high, supply tight
* Adani Power awaits environ min nod for Bhadreshwar plant
* Glenmark receives USFDA nod for three drugs
* IOC's Rs 19,000-cr FPO hits subsidy block
Markets - Hanging on
While we expected a band of 5800-6000 for Nifty for this monthe expiry, it appears breaking 5900 on Nifty is also getting tougher on each passig day. Sugar stocks spiked up in the last hour of trade. Keep an eye on the same.
Stocks to watch for in today's trade include Ballarpur Indutries, OBC, Kingfisher Air, DCB