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Focus on Kishore Biyani Today as Nifty Likely to Open Flat – India

By Aditya Raghunath — Market cues indicate that the markets are likely going to take a breather in opening trade. and 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. 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:)-Future Group deal, it remains to be seen how markets will process this information today.

Asian markets are trading lower with down 0.43% and 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. are up 0.14% while S&P and are up 0.2% and 0.37% respectively.

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