Indian Markets
Indian stocks came under pressure in early morning trade, with the NSE Nifty falling under the 4800 mark, as investors continue to be cautious amid a political stalemate over a whole host of issues.
The latest issue to spark a political storm has bee the Cabinet decision to open up the retail sector to foreign companies. Also weighing on the sentiment is weakness in the Asian benchmarks after Standard & Poor's downgraded several lenders, including top US banks citing a change in its ratings criteria.
US Markets
U.S. stocks finished mostly higher on Tuesday, with the Dow and S&P extending gains from the previous day's rally, as investors remained hopeful that leaders are making progress on addressing the eurozone debt crisis.
The Dow Jones industrial average rose 33 points, or 0.3%, and the S&P 500 added 3 points, or 0.2%. The Nasdaq composite finished lower, losing 12 points, or 0.5%, with Green Mountain Coffee Roasters, Wynn Resorts and Netflix dragging on the index.
Asian Markets
The Chinese market is the top loser, down ~2% while the Nikkei in Japan and the Hang Seng in Hong Kong and the Taiex in Taiwan are down 1% each. The parliament has been adjourned every single day during the winter session
Currencies & Commodities
Among the Metal prices, Aluminium & Nickel ended lower by 0.6% & 1.8% respectively, while Copper & Zinc gained 0.9% & 0.4% respectively. The dollar slumped against the euro, the British pound and the Japanese yen. Oil for January delivery rose $1.58 to settle $99.79 a barrel. Gold futures for December deliver rose $2.60 to settle at $1,713.40 an ounce.
Outlook for Today
Today, the Indian markets are likely to open lower and trade in a range with negative bias. Immediate support for Nifty is at 4766, while resistance is at 4866. Among the sectoral indices, FMCG and Healthcare are looking good, while Banks, Metals and Realty are looking weak.
source- hdfcsec,Rh morning market,iifl
No comments:
Post a Comment