Market is likely to open gap down:
``The market is likely to open gap down today taking cues from negative global markets. Asian stocks fell, with the regional benchmark index poised to erase this year`s gains, after US economic data missed estimates and ratings agencies downgraded Spanish banks and Greece as Europe`s debt crisis deepens,`` said SMC Global Research.
``The market may open lower on weak global markets. Asian stocks snapped a four-day drop and the yen fell as corporate profits beat estimates and South Korea`s consumer confidence rose to an 11-month high. The US markets closed mixed, ending off their session highs ahead of the FOMC meeting announcement. Also, Apple reported quarterly earnings that beat Wall Street`s expectations, sending its shares higher in extended-hours trading. Wipro, Yes Bank, Zensar Tech, STER, BEL, Indiabulls Real Estate and LIC Housing will announce its quarterly result today,`` said SMC Global Research.