Market may open with a gap down

Indian benchmark indices swung between gains and losses on Wednesday owing to poor corporate earnings; concerns about China; and profit-booking in broader markets. However finally it’s ended in green led by strong buying in heavyweight Reliance Industries and Infosys ahead of their third quarter earnings. The Sensex rose 172 points, or 0.7%, to close at 24,854.11 points and and Nifty declined 53 points or 0.7% to settle at 7,510. The broader markets saw the deepest cuts; the BSE Midcap and Smallcap indices were down 0.46% and 1.76%, respectively.

U.S. stocks closed sharply lower on Wednesday, pressurised by low oil prices and continued signs of a dragging global economy. The Dow Jones industrial average was down by 2.2%, closing at 16,151, its lowest close since Sept. 29. The broader S&P 500 ended down 2.5% at 1890. The Nasdaq composite finished 3.4% lower, to 4526.

European equities lost their entire day's gains and closed in the mix on Wednesday due to a low trading session in the U.S. The U.K.'s FTSE closed up 0.5% and France's CAC finished 0.3% higher. Germany's DAX, however, slipped to finish 0.25% lower.

Crude dipped below USD 30 a barrel on Wednesday for the first time in more than 10 years. Brent traded as low as USD 29.96 a barrel before settling down 55 cents, or 1.8%, at USD 30.31 a barrel and WTI settled up by 4 cents at USD 30.48 a barrel.

Asian stock markets tumbled on Thursday following a negative lead from Wall Street due to concerns over a global economic slowdown; and low oil prices. Japan's Nikkei 225 bounced 3.7% from a near one year low while South Korea’s Kospi index was down by 1.2%. Australia’s S&P/ASX 200 Index tumbled 1.56%; and New Zealand’s S&P/NZX 50 Index lost 0.9%. Shanghai Composite index was down by 0.84%.

While on domestic front, A SGX Nifty 50 index future for January Series traded down 93 points at 7,537. Indian markets may open in negative following other Asian markets. Investors keep an eye on Infosys results which will be declaring its financial results for the December quarter today.