Indian Indices to open on negative note - AXISDirect

After opening on a positive note the markets traded sideways for most of the morning session and pared some of the gains. The markets drifted lower and sudden pressure into the late session led the markets to end the day with moderate losses. All of the sectoral indices except Auto ended in the red with PSU & Healthcare losing the most. In the Sensex stocks HDFC (2.49%), Tata Motors (2.40%) and ICICI Bank (0.94%) were among the gainers while BHEL (2.73%), Cipla (2.64%) and SBI (2.41%) were among the losers. The Sensex lost 30 points or 0.15% to close at 19,751 and the Nifty lost 12 points or 0.19% to close at 5,987.

Total traded turnover stood at Rs 109,086 cr. In equities FIIs were net buyers of (Rs 857 cr) while DIIs were net sellers of (Rs 592 cr). On the derivatives side, FIIs were net buyers in Index Futures (Rs 710 cr) while they turned net sellers in Index Options (Rs 490 cr) Stock Futures (Rs 377 cr) Stock Options (Rs 7 cr).

The US markets ended lower as rise in Spanish & Italian bond yields led to renewed concerns on Euro-zone's debt crises. The Dow Jones lost 130 points or 0.93% to close at 13,880 while the NASDAQ lost 48 points or 1.51% to close at 3,131.

The Asian markets are trading lower. Nikkei is trading lower by 1.31% while Hang Seng is trading lower by 1.70%.

Asian markets are trading lower with Eurozone issues are back in focus as concerns about Spain's ability to access the debt market to keep functioning. Indian indices are also expected to open on a negative note and global developments will be closely watched for further direction.

Source : Equity Bulls

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