Indian Market Likely To Open Negative

Indian equities indices slipped for the sixth straight session on Friday and logged its worst weekly drop in nearly two months on weak bluechip earnings and on worries the BJP may face defeat in the Delhi state elections as per opinion Poll. In the week Sensex lost 465.04 points or 1.59% to settle at 28,717.91 and the Nifty lost 147.85 points or 1.68% to settle at 8,661.05. The broader markets underperformed the benchmark indices. The BSE mid-cap index fell 1% and the small-cap index plunged nearly 2%.

Despite a slump in trading Friday, U.S. stock markets had their best week in more than two years following a rally in oil prices, good US jobs data and some significant corporate acquisitions. For the week, the Dow Jones Industrial Average surged 659.34 points (3.84%) to 17,824.29. The S&P 500 jumped 60.48 (3.03%) to 2,055.47, while the Nasdaq Composite Index advanced 109.16 (2.36%) to 4,744.40.

On Friday, European markets slide on German data, Greece concerns. The UK FTSE was down 0.18%, the German DAX lost 0.54% and the French CAC Index slid 0.26%. However, on weekly basis it closed in positive as oil price optimism boosts stock markets. On Wednesday 11^th Feb 2014, the euro area finance ministers will meet to discuss Greece's debt proposals while Friday will see release of fourth quarter GDP figures for the euro-area.

Asian shares wobbled on Monday after dismal Chinese trade data eclipsed a strong U.S. jobs report, raising concerns about a deepening slowdown of Chinese economy. Australia’s S&P/ASX 200 and New Zealand’s NZX 50 Index fell by 0.55% each, while Japan's Nikkei share average up by 0.2%. The Shanghai Composite Index open in negative by more than 1% now it’s recover and down by only 0.13%. The Hang Seng Index down by 0.73%.

SGX Nifty is trading in red and down by 81 points. Indian market may expect to open in negative and trading this week is expected to be volatile due to exit polls that are predicting an AAP win in the Delhi Assembly elections. Among macro economic data, the government will release index of industrial production (IIP) data for December 2014 on Thursday, 12 February 2015. On the same day, the government will release data for the annual rate of inflation based on the combined consumer price indices (CPI) for urban and rural India in January 2015.

Aarti Industries, Atlanta, Corporation Bank, DLF, JK Tyre, Jyoti Structures, Linc Pen, L&T, Navneet Education, Nava Bharat Ventures, Nitin Fire, Panasonic Energy India, Ucal Fuel, Voltamp, Zydus Wellness, And Visaka Industries would be reporting third quarter earnings today.