Indian Indices to open flat - AXIS DIRECT

After opening marginally higher the markets slipped into the red in the morning session and witnessed volatility. The markets tried to recover by noon session but slipped further and traded sideways before ending the day on a flat note. Among the sectoral indices Oil & Gas, PSU & IT gained around 1% each while Metals lost ~1%. In the Sensex stocks Gail India (1.90%) ONGC (1.79%) and BHEL (1.76%) were among the gainers while Tata Steel (1.91%), Sterlite Inds (1.64%) and Jindal Steel (1.58%) were among the losers. The Sensex gained 19 points or 0.210% to close at 19,784 and the Nifty gained 7 points or 0.11% to close at 6,016.

Total traded turnover stood at Rs 123,353 cr. In equities FIIs were net buyers of (Rs 1,164 cr) while DIIs were net sellers of (Rs 825 cr). On the derivatives side, FIIs were net sellers in Index Futures (Rs 255 cr), Stock Futures (Rs 95 cr) Stock Options (Rs 151 cr) while they turned net buyers in Index Options (Rs 771 cr).

The US markets ended higher after data showed that services expanded at a faster pace and non-farm payrolls showed a moderate growth. The Dow Jones gained 44 points or 0.33% to close at 13,435 and NASDAQ gained 1 points or 0.04% to close at 3,102.

The Asian markets are trading mixed. Nikkei is trading lower by 0.20% while Hang Seng is currently trading higher by 0.14%.

Asian markets are trading mixed as the U.S. economy added jobs at a moderate pace in December, as expected. Investors also to focus on U.S Earnings season which will likely to kick off from tomorrow. Indian indices are expected to open on a flat note and global developments along with domestic earning season will be monitored closely for further direction.

Source : Equity Bulls

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