Market May Open In Red Tracking Asian Markets

Indian stock markets pared some of the day’s losses and closed in red for the third consecutive trading session on Monday. The Sensex recovered over 500 points from 25,656 at day's low to move above 26,000 levels in afternoon trade on Monday. The Nifty too regained 7,900 levels after plunging to 7,771 at day's low. The setback for the Bharatiya Janta Party (BJP) in the Bihar elections, which left analysts questioning whether pushing structural reforms through will get tougher for the Union government. The Sensex ended down 143.84 points or 0.6% at 26121.40, and the Nifty slipped 39.10 points or 0.5% at 7915.20. The broader markets outperformed benchmarks, the BSE Mid-Cap and Small-Cap index rose 0.42% and 0.78% respectively.

The stock market stumbled fourth consecutive session on Monday as investors worried that the global economy could be slowing just as last week's blockbuster U.S. jobs report appeared to open the way to the first rate hike from the Federal Reserve in nearly a decade. It was the first notable decline for the market in six weeks. The Dow Jones industrial average lost 179.85 points, or 1%, to 17,730.48, slipping back into negative territory for the year. The S&P 500 index lost 20.62 points, or 1%, to 2,078.58. The Nasdaq composite fell 51.82 points, or 1%, to 5,095.30.

European stocks began the week on a downbeat after a report warned of a drastic slowdown in global trade growth this year and the increasing possibility of an interest rate hike by the U.S. Federal Reserve next month. The benchmark Stoxx Europe 600 index closed down 1.07%, while Germany's DAX fell 1.57% and France's CAC 40 lost 1.46%.

Benchmark U.S. crude fell 42 cents, or 0.9%, to USD 43.87 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, declined 23 cents to USD 47.19 a barrel in London.

Asian shares slipped to one-month lows on Tuesday as the specter of higher borrowing costs in the United States and slower global economic growth prompted investors to trim their exposure to riskier assets. Japan’s NIKKEI 225 fell 0.6%, while South Korea’s Kospi index lost 0.98%. New Zealand’s S&P NZX 50 Index slid 0.70%. Australia’s S&P/ASX 200 Index dropped 0.97%. China's Shanghai Composite index slipped 0.3%, a day after climbing to its highest level since August 20, as investors digested the latest inflation data.

China's consumer inflation moderated again in October, while producer prices declined for the 44th straight month, as falling commodity prices and weak demand add to deflationary pressure. The consumer price index (CPI) rose 1.3% in October from a year earlier, compared with a 1.6% increase in September, the National Bureau of Statistics (NBS) data showed on Tuesday.

A SGX Nifty 50 Index future for November delivery was down 61 points at 7,868.50. Indian market is likely to open in red with following other Asian market.