INDIAN EQUITY MARKET OUTLOOK - 09 FEB 2016

INDIAN BENCHMARKS are poised to extend a slide on Tuesday as a worsening global sell-off amidst heightened worries over the health of the world economy sours the appetite for risky assets. Global equities are lurching on the brink of a bear market as China fails to stave off a deepening economic slowdown while the rout in oil prices continues.

Headlines for the day:

• ·        Tamil Nadu objects to GAIL's Rs3,000-cr project.
• ·        Steel industry to seek anti-dumping duty.
• ·        Jet Airways reduces debt.
• ·        HCL to launch IoT incubation centre for Microsoft.

Global Indices:

Asian markets fell as stability concerns put a torch to European bank stocks and sent investors stampeding to only the safest of safe haven assets.

US stocks dropped on Monday as concern over global growth hit banks and other economically sensitive shares, although a late rally in energy shares left the market well above its lows of the day.

European shares closed at their lowest level in more than two years on Monday with investor concerns over the health of the region's banks compounding worries over slowing global growth

RESULT’S ON 9^th  FEB  2016 :  PNB, SAIL, APOLLOTYRE, BHARAT FORGE, AURO PHARMA, CESC, BRITANNIA, DR REDDY, GAIL, HINDALCO, MOTHERSUMI, PETRONET

Trend in FII flows:  

The FIIs were net  sellers of  Rs -84.56 Cr in the cash segment on Monday while the DIIs were net buyers of  Rs 279.49 Cr, as per the provisional figures released by the NSE.

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