Indian Markets
The BSE benchmark Sensex fell over 100 points in the opening trade, tracking weak global cues. The 30-share BSE Sensex dropped 158 points to 16,213.69 in the opening trade while the 50-share NSE Nifty lost 50 points to 4,856.05.
The Indian rupee depreciated to 51.48 a dollar in the morning trade, losing 0.3% as compared to Friday's rate of 51.33/USD.
Markets ended lower on Friday for the sixth consecutive session. A recovery in the afternoon session helped to curb the losses. While the BSE Sensex finally closed 90.2pts or 0.55% lower at 16,371.51, the Nifty lost 28.95pts or 0.59% to close at 4,905.80.
US Markets
U.S. stocks ended Friday?s session on a mix note. While Dow Jones ended higher by 0.2%, Nasdaq ended lower by 0.6%. S&P ended on a flat note.
The Indian ADRs ended on a mixed note. Wipro & ICICI Bank ended higher by 0.2% & 0.6% respectively, while Infosys, Dr. Reddy?s & Tata Motors ended lower by 0.6%, 1.1% & 0.9% respectively. HDFC Bank ended flat, while Tata Communications & MTNL ended lower by 2.6% & 1.9% respectively.
Asian Markets
Today, the Asian indices are trading on a weak note with Shanghai & Hang Seng trading down by 0.2% & 1.9% respectively. Nikkei & Taiwan are trading lower by 0.1% & 2.2% respectively, while Strait Times & Kospi are trading lower by 0.8% & 1.2% respectively.
Currencies & Commodities
Among the Metal prices, Aluminum ended flat, while Copper, Zinc & Nickel ended higher by 1.1%, 0.8% & 0.5% respectively.Oil for December delivery slipped $1.19 to close at $97.45 a barrel. Gold futures for December delivery fell $5.5 to $1,719.6 an ounce.
Outlook for Today
Today, we expect the markets to open in the red following weak global cues and trade in a range with negative bias throughout the session. Immediate support for Nifty is at 4838, while resistance is at 5000. Among the sectoral indices, Realty, Metals & Auto look weak and could underperform.
Source-HDFCSECURITY
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