Sensex, Nifty to open on a flat note

Global cues are not encouraging any celebration on the bourses. With most markets shut or closing early, the Sensex and Nifty will swing to the F&O adjustments. China's Shanghai is flat while Hong Kong's Hang Seng has risen marginally.

As investors wrap up their tasks for the day and year, the market has a choppy F&O expiry to deal with.  Nifty is hovering around the 7900 mark and on the upside major resistance is seen at 7980. A breach above the mentioned hurdle would mean a reversal of the bearish head and shoulder pattern which in turn would trigger fresh buying momentum. At the same time, the Nifty Bank looks fragile and any downfall from here would be led by the banking space.

The indices are set to open on a flat note ahead of the expiry of December F&O contracts. Global cues are not encouraging any celebration on the bourses. With most markets shut or closing early, the Sensex and Nifty will swing to the F&O adjustments. China's Shanghai is flat while Hong Kong's Hang Seng has risen marginally. Taiwan's TWSE is in the red. A fall in crude prices dragged energy shares bringing the US indices lower. Dow dropped 0.66% while S&P 500 lost 0.72%. Nasdaq lost 0.82%.  

The prime minister is today expected to lay foundation stones for Delhi-Meerut Expressway and for upgradation of National Highway 24.

Oil Minister is expected to address the media a little before lunch.

Among the data to watch out for would be core sector growth for November, government finances and CPI for industrial workers.

Advanta will be in focus as it mulls allotment of equity shares.

Gulshan Polyols will consider allotment of equity shares.

Unity Infraprojects will consider allotment of equity shares

Sequent Scientific Ltd has announced that it is seeking shareholders nod for stock split in ratio of 1:5.

The Cabinet has given the nod for the formation of Joint Venture Companies with various State Governments to mobilize resources for undertaking various rail infrastructure projects in the States.

Finance Minister Arun Jaitley reportedly said that India needs to grow by additional 1-1.5% so that it can sustain wage hike."Our GDP growth of 7.5% is at a time when the world is experiencing global slowdown," FM was quoted as saying.

The Union Cabinet also approved the signing and ratification of an Agreement for the exchange of information between India and Maldives with respect to taxes.