Markets are expected to open lower on the back of weak global cues
Indian Markets
*
The Sept derivative series ended on a positive note on the back
of a smart recovery in the last one hour of trade. The markets had
initially opened lower on the back of weak global cues.
*
While the BSE Sensex finally closed 62 pts or 0.37% higher at
16,781, the Nifty gained 17 pts or 0.33% to close at 4,987. Broad
market indices too ended higher as the BSE Mid Cap and BSE Small Cap
indices gained 0.74% and 0.46% respectively.
*
Market breadth was positive as A/D ratio was 1.14:1 on the BSE.
NSE cash turnover was Rs.21,688crs. Vs. Rs.17,554crs. on Wednesday.
*
The sectoral indices ended on a mixed note. While the top
gainers were the BSE Bankex, Healthcare and FMCG indices, the top
losers were the BSE IT, Metal and Consumer durable indices. The top
gainers from the BSE-30 were HDFC, HDFC Bank, Wipro, RCom, NTPC and
ICICI Bank. The top losers were Hindalco, Infosys, Hero Honda, Tata
Steel and ACC.
*
On Thursday, as per the provisional figures, the FIIs were net
buyers of Rs. 1,062 cr while the DIIs were net sellers to the tune of
Rs. 617 cr. FIIs were net buyers of Rs. 366 cr in the F&O segment.
US Markets
*
Stocks slumped on Thursday, falling for the second straight
session, on the back of a surprise drop in existing home sales and
tumbling commodity prices.
*
The Dow lost 41 points, or 0.4%. The Nasdaq declined 24 points,
or 1.1%.
*
Existing home sales fell to a seasonally adjusted 5.1 million
unit rate in August from a 5.24 million unit rate in July.
*
Another report from the Labor Department showed weekly jobless
claims fell for the third week in a row.
*
The Fed Reserve said it was dialing down a pair of emergency
programs in the wake of an improving economy.
*
Indian ADRs mostly ended in the red. In the banking space, HDFC
bank ended up 0.5% while ICICI bank ended down by 0.7%. IT majors
Infosys, Satyam and Wipro closed down 2.3%, 2.9% and 1.6%
respectively. MTNL closed the day lower by 3.2% while Tata
Communication shed over 6%.
Latin American Markets
*
Among the Latin American markets, the Mexican markets ended 1.7%
lower while the Brazilian markets lost 0.7%.
Asian Markets
*
Today, the Asian markets are trading lower.
*
While the Nikkei and Hang Seng are lower by 2.9% and 1.2%
respectively, the Strait Times and Shanghai are down 0.5% and 0.7%
respectively.
Commodities
*
A stronger dollar hit dollar-traded commodities, including oil
and gold.
*
U.S. light crude oil for October delivery fell $3.08 to settle
at $65.98 a barrel on the New York Mercantile Exchange.
*
COMEX gold for December delivery fell $15.50 to settle at
$998.90 an ounce. Gold closed at a record high of $1,020.20 last week.
*
Metals also finished lower. Aluminum and Zinc lost 0.9% and 0.3%
respectively while Copper and Lead ended lower by 0.7% each.
Outlook for Today
Today, the markets are expected to open lower on the back of weak
global cues and could take support in the 16,300 – 16,400 band.
Banking and Healthcare stocks could do well while IT and Metal stocks
could come under pressure.
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