Indian Equity Indices trembled in the early morning trade.
ONGC, DRREDDY, RPower, HDFC Bank, Coal India, ITC were among the notable leaders in the Sensex and the Nifty.
Infosys, Wipro, ICICI Bank, DLF, Ranbaxy, L&T, Maruti Suzuki, TCS, SBI, Sun Pharma,RCOM, Tata Steel, Tata Power, Bajaj Auto, were among the notable losers in the Sensex and the Nifty.
US and European Markets
Stocks closed down more than 1% Wednesday, as investors continued to fret over how Europe could solve its debt troubles in 2012. Selling intensified ahead of the close. Dow Jones closed down 140 points, or 1.1%. S&P 500 slid 16 points, or 1.3%. Nasdaq lost 35 points, or 1.3%.
European markets were down today, influenced by a negative day on Wall Street. Indexes fell mainly due to banking sector shares affected by the previous day's record overnight deposits with the ECB, indicating mistrust between banks, now reluctant to use the inter-bank market.Britain's FTSE 100 eased 0.1%, the DAX in Germany slumped 2% and France's CAC 40 lost 1%.
Asian Markets
Today all the Asian indices are trading in the red except Shanghai, which is up marginally. Hang Seng and Nikkei are trading lower by 1% and 0.8% respectively. Strait Times and Kospi are down by 0.3% each while Taiwan is down 0.5%.SGX Nifty is trading lower by 22.5 points.
Currencies
The Indian Rupee ended off lows on Wednesday against the US Dollar, recovering most losses after suspected RBI intervention, but global risk aversion meant the Indian currency would remain under pressure in the near term, dealers said.
Commodities
Among the metals, Zinc and Nickel lost 1.9% and 1.8% respectively. Aluminium and Copper ended lower by 1.1% each. Oil prices for February delivery jumped 1.5% after a top Iranian official warned that the nation could block the Strait of Hormuz, a key transit point for oil exports from the Middle East. Gold futures for February delivery fell $31.40 to $1,564.10 an ounce.
Key events to watch for today
India - WPI (Y-o-Y change)
US - Jobless Claims, Pending Home Sales Index, EIA Petroleum Status Report
Germany - CPI
Outlook
Today, the Indian market is likely to open in the red following weak global cues and could witness volatility on account of derivatives expiry. Among the sectoral indices, Auto, Capital Goods and Banking stocks could underperform.
Sources- HDFC SEC,RH morning market
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