Market Likely To Open In Red Following Asian Market; Paris Attack

Indian stock markets ended the day sharply lower in trade on Friday and posted a third straight weekly loss triggered by Bihar election results, disappointing second-quarter earnings, weak macro economic data and foreign investor outflows, as funds continue to sell in anticipation of a potential US interest rate hike next month. The Sensex settled the day 256.42 points lower at 25,610.53, while Nifty 50 ended below its crucial 7,800 level at 7,762.25, down 62.75 points. During the week, the Sensex lost 654.71 points or 2.49% and Nifty dropped 192.05 points or 2.41%. In the broader market, the BSE Mid-Cap index shed 1.59% and the BSE Small-Cap index rose 0.66% during the week.

This week, rupee depreciated around 0.52% at 66.14 on November 13. The currency was at 65.79 on November 6 last week.

U.S. stocks fell sharply Friday, extending a multiday tumble and logging their worst weekly losses in months as lackluster retail data, coming Fed rate hikes, global economic worries, falling oil prices and fears of a weakening retail sector. The Dow Jones Industrial Average declined 202.83 points, or 1.2%, to 17245.24 on Friday. The S&P 500 lost 22.93 points, or 1.1%, to 2023.04, and the Nasdaq Composite fell 77.20 points, or 1.5%, to 4927.88. For the week, the Dow slid 3.7% and the S&P 500 fell 3.6%. The Nasdaq Composite finished the week 4.3% lower.

Oil prices sank to 11-week lows on Friday, as mostly bearish outlooks for supply and demand and for the global economy remained on investors' minds. Brent oil for January delivery shed 72 cents, or 1.59%, to close the week at USD 44.47 a barrel on Friday. For the week, it dropped USD 3.85, or 8.03%, the largest weekly loss since March. WTI crude oil for delivery in December slumped USD 1.01, or 2.42%, to end Friday's session at USD 40.74 a barrel. For the week, it lost USD 3.78, or 8.02%, the biggest weekly drop in eight months.

Shares were also lower in Europe, despite hints from European Central Bank chief Mario Draghi earlier this week that more stimulus was on the way. In Germany, the DAX index was down 0.7% and the CAC 40 in Paris was off 1%. The pan-European STOXX 600 index finished 0.8%. On the week, the STOXX 600 closed over 2.7% lower. For the week, FTSE drop more than 3.71%. In Frankfurt the DAX fell 2.55% and the CAC in Paris dropped 3.53% over the week.

Stock market futures are pointing down after the horrific terrorist attacks in Paris last weekend. The CAC 40 futures slumped 2.8% and the DAX Futures fell 1.4%.

Asian shares and U.S. stock futures were lower and the euro skidded in early Asian trading on Monday with sentiment badly dented by Friday's brutal terrorist attacks in Paris. Australia’s S&P/ASX 200 Index slid 0.82% and New Zealand’s NZX 50 Index fell 0.63%. South Korea’s Kospi index retreated 1.1%. The Nikkei stock index tumbled 1% in early trade and Shanghai Composite index slide 0.33%.

A SGX Nifty 50 Index future for November delivery was down 31 points at 7,728. Indian market is likely to open in red with following other Asian market.