Morning Bell !!!......The key Indian equity indices have dipped in early morning trade

Indian Market

The key Indian equity indices have dipped in early morning trade with the BSE Sensex and the NSE Nifty struggling for direction amid no decisive clues from the overseas markets.

As far as domestic economy is concerned, things are looking bleak and will take time to turn around. FII flows will remain muted till there are signs of concrete action on the policy front.

Infosys, Tata Motors, HDFC, Tata Power,Hero MotoCorp,RCOM, TCS, HUL, NTPC, were among the notable leaders in the Sensex and the Nifty.

DLF, ICICI Bank, Ranbaxy, Axis Bank, HCL Tech, Tata Steel, BHEL, SBI, ONGC, L&T, were among the notable losers in the Sensex and the Nifty.

Power, Auto and IT index are the gainers.

FMCG, PSU, Metal, Realty, Consumer Goods,Bankex, Consumer Durables indices are the losers.

Market breadth is even with equal number of shares rising and falling on the BSE. Most sectoral indices are trading in the red, led by Banking and Capital Goods indices. Realty, Consumer Durables, PSU, Metals and Pharma indices are down anywhere between 0.5% and 1%. The remaining sectoral indices are more or less subdued.

Most Asian markets are down today with many of them returning to action after extended Christmas holidays. Indices in China and Hong Kong are down ~0.5% each. The S&P/ASX 200 index in Australia has lost 1%. The Nikkei in Japan was more or less unchanged

US Market

U.S. stocks were little changed; following the longest rally since September, as better‐than‐estimated consumer confidence data overshadowed a decline in home prices and concern about Europe’s debt crisis.

Asian Market

Asian stocks fell for a second day amid slow trading, with the regional benchmark index headed for the worst year since 2008, after a report showed U.S. housing prices fell, damping the earnings outlook for Asia’s exporters.

Commodities:

Oil traded near the highest level in six weeks after Iran threatened to block crude transportation through the Strait of Hormuz, increasing concern that global supplies will be curbed amid shrinking U.S. stockpiles.

Sources- RH morning market