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Business

Today’s spotlight is on Kishore Biyani, as the Nifty is expected to open flat on February 5th

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Market cues suggest that the markets will likely take a breather in the first few minutes of trading. As markets digest the over 8.5 percent gains made in the previous three trading sessions, the Nifty and BSE Sensex are expected to open flat today.

The Sensex will aim to maintain its position above the 50,000 level, while the Nifty will aim to remain above 14,750. The Nifty 50 Futures in Singapore are currently trading down 0.1 percent, indicating that markets will start flat.

The fact that Kishore Biyani, the founder of Future Group, and his brother have been barred from the stock market for a year by SEBI (Securities and Exchange Board of India) on charges of insider trading will also be taken into account by Indian markets. Though reports claim that this will have no impact on the Reliance Industries Ltd (NS:RELI)-Future Group merger, it is unclear how markets will react today.


The Nikkei 225 is down 0.43 percent, and the KOSPI is down 0.76 percent in Asian markets. Both of these markets have been on the rise for the past three days.

After a small rise in the markets on Wednesday, US futures are trading higher. The Dow is up 0.14 percent, while the S&P 500 and Nasdaq 100 are up 0.2 percent and 0.37 percent, respectively.

Crude oil is currently trading at $56.09, up 0.61 percent from its previous close.


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