INDIAN EQUITY MARKET OUTLOOK - 12 JAN 2016

INDIAN BENCHMARKS shares are likely to witness negative opening as the global cues look unsupportive with SGX Nifty trading 9.50 points lower. Indian equity benchmarks are poised to witness a gap down opening on Tuesday as traders stick to a cautious tone ahead of the start of the Q3 earnings season and the release of the IIP and retail inflation data which will offer latest cues over the health of Asia’s third biggest economy. Against the backdrop of a mixed trend in markets across Asia coupled with weakness in the CNX Nifty Index futures for January delivery which fell by 0.22 per cent or 17 points at 7,568 at 10:18 am Singapore time, Dalal Street may witness a bearish opening today.

Headlines for the day:

JLR December 2015 global wholesale volumes up 18.6% YoY.

Domestic natural rubber prices fall below Rs100 mark for 1st time in 6 years.

RBI raises provisions for ‘yet to fail’ CDR accounts.

Global Indices:

Asian stocks were trading mixed with China’s Shanghai Composite eking out mild gains while Hang Seng advanced modestly after officials kept the Yuan’s reference rate stable for the third day, tempering some concerns over the world’s second biggest economy.

Japan’s Nikkei 225 plunged over 2 per cent, marking a sixth straight day of decline, as markets reopened after a public holiday, as energy stocks plunged amidst an oil slump.

Most indices at Wall Street rallied in volatile trade on Monday as gains in consumer and technology stocks overpowered worries over China’s slowdown and a continued commodity rout.

Further, strength in China’s currency restored some calm at bourses as concerns eased that the recent devaluation of the Yuan could fuel turmoil in the economies of China’s major trading partners.

The Dow Jones Industrial Average advanced 0.32 per cent; the Nasdaq Composite fell 0.12 per cent while S&P 500 rose 0.09 per cent.

Trend in FII flows:  

The FIIs were net  sellers of  Rs -1319.24 Cr in the cash segment on Monday  while the DIIs were net buyers of  Rs 900.99 Cr, as per the provisional figures released by the NSE.

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