Market May Open Negative Today
DSIJ Intelligence / 10 Aug 2012
The Indian markets may open on negative note ahead in line with the global cues. The SGX Nifty is down by 9.50 points at 5,348, indicating a negative gap down opening to the markets today.
The Indian markets may open on negative note ahead in line with the global cues. The SGX Nifty is down by 9.50 points at 5,348, indicating a negative gap down opening to the markets today.
| Benchmark Indices | ||
|---|---|---|
| Index | Closing | % Change |
| SENSEX | 17560 | -0.23 |
| NIFTY | 5322 | -0.28 |
| Dow Jones | 13,165 | -0.08 |
| S&P 500 | 1402 | 0.04 |
| NASDAQ | 3018 | 0.24 |
| Bovespa | 58797 | -0.26 |
| FTSE | 5,851 | 0.1 |
| DAX | 6964 | -0.02 |
| CAC | 3456 | 0.53 |
| .. | ||
| Hang Seng | 20192 | -0.35 |
| Nikkei | 8925 | -0.6 |
| Shanghai | 2173 | -0.03 |
The Indian markets witnessed a lacklustre trading session yesterday as the broader indices closed lower by 0.23 per cent. Nifty has been hovering around the 5,300 level mark while the Sensex closed near the 17,560 level. Yesterday the Indian markets opened on a strong note but lost all the gains immediately after the announcement of the June IIP numbers. Further, major heavyweights such as RIL, SBI and Bharti Airtel dragged the markets into the negative zone during the late hours of the trading session. The IIP numbers for the month of June showed de-growth of 1.8 per cent - quite below the market expectations. A major decline was witnessed in the capital goods and manufacturing sectors which form an integral part of the growth in economy.
The Asian markets, continuing their positive streak yesterday, closed on a higher note. This was on the back of mixed Chinese data which kept hopes alive for policy action needed to tackle the slowdown. Hang Seng, Nikkei and Shanghai finished up by 1.01 per cent, 1.09 per cent and 0.60 per cent respectively. Investors are also quite hopeful about the central banks announcing stimulus measures.
Overnight, the U.S. stock markets closed on a mixed note and the S&P 500 closed with marginal gains to maintain its longest winning run since March after the U.S. data proved better than expected. The European stocks too closed on a mixed note and the overall sentiments remained positive in the markets. All the global markets are now focusing on the ECB, China and the U.S. Federal Reserve to announce some stimulus measures to keep the world economy out of any major crisis. There was some optimism after China’s inflation data came in with better than expected figures, suggesting that the central bank has ample scope to ease the policy again after rate cuts in June and July to keep the world’s second-biggest economy on track to meet an official 2012 growth target of 7.5 per cent.
On the Indian turf the rupee in the last two days has gained some strength against the dollar and closed at the Rs 55.17 level. However, it continues to be above the comfort zone and remains a cause for concern for companies and government agencies that are dependent on imports. Meanwhile, with a positive slew of data coming from the U.S. region, the London Brent crude oil price is continuously inching higher to levels touching its two-month high of USD 113 per barrel.
| Currency Rates | ||||
|---|---|---|---|---|
| Rs/$ | Rs/Euro | Rs/GBP | Rs100/JYP | |
| RBI Rate | 55.17 | 68.26 | 86.42 | 70.28 |
| Future | 55.41 | 68.21 | 86.63 | 70.69 |
| Key Global Indicators | ||
|---|---|---|
| Gold (Rs/10gm) | Crude ($/bbl) | |
| Spot | 29751 | 113.2 |
| % change | - | -0.15 |
| Future | 29972 | 93.38 |
| % change | 0.25 | 0.02 |
In conclusion, for today we expect the markets to operate with a negative bias on the back of weak global cues. Moody, while blaming the government, has revised the country’s GDP growth downward to 5.5 per cent in 2012-13. Also, the Asian markets, after going through a rally throughout this week, are seen to be struggling for traction today and have opened on a negative note on the back of the earnings’ issue of companies in Japan. However, the optimism is still strong about the stimulus measures yet to be announced by the major central banks.And we may continue to see some positive momentum in the coming days.
| FII | DII | |||||
|---|---|---|---|---|---|---|
| Trade Date | Buy | Sales | Net | Buy | Sales | Net |
| 7-Aug-12 | 2455.56 | 1639.61 | 815.94 | 1234.5 | 1179.26 | 55.25 |
| 8-Aug-12 | 2751.6 | 1637.39 | 1114.2 | 928.83 | 1723.53 | -794.71 |
| 9-Aug-12 | 2272.94 | 1935.8 | 337.14 | 989.78 | 1744.18 | -754.4 |
| Total Aug 12 | 14,395.54 | 10,782.24 | 3,613.29 | 6,486.20 | 8,658.39 | -2,172.18 |
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.