Indian Markets are expected to open negative - ICICIdirect

The Indian markets are expected to open negative on the back of negative global cues. On Monday, the markets ended lower after a bright start to the trading session. The sentiment was also negative for the banking sector on fears that RBI's draft guidelines on restructuring norms may hit the earnings of banks. Lower than expected earnings from a few companies also weighed down the sentiment. The Sensex closed at 19751.2, down by 30.0 points while the Nifty ended at 5987.3, down by 11.7 points. The Sensex has supports at 19680 and 19590 and resistances at 19820 and 19910. The Nifty spot has supports at 5960 and 5935 and resistances at 6015 and 6040.

US markets ended lower on Monday with all major indices ending the day in the negative. The positive sentiment in the market created after the positive jobs data on Friday was negated by yesterday's trading session as the markets started the day in the negative and continued sliding further to end at the lowest levels of the day. The trigger for the markets was the political uncertainty in Europe over the corruption allegations in Spain that has seen opposition leaders demand the Prime Minister's resignation. Also, some difference of opinion on the fiscal cliff resolution created negative sentiment, The Dow was down 129.7 points or 0.9% to 13,880.1 while the Nasdaq declined 47.9 points to 3131.2. The S&P 500 was also down 1.2% to end at 1495.7.

Source : Equity Bulls

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