Indian Indices expected to open on a flattish note - AXIS Direct

After opening on a flat note, the markets moved in a narrow range till afternoon, the markets slipped to intra-day low during the afternoon session after the report of increase in Retail inflation data, Though a mild recovery was seen in the late noon session, the markets ended the day on a lower note. Sensex lost 81points or 0.41% to close at 19,565. Nifty lost 28 points or 0.48% to close at 5,914. Among the sectoral indices, Consumer Durables declined (1.99%), followed by Power (1.36%), Realty (1.24%). However, FMCG rose by 0.49% and Auto by 0.08%. In the Sensex stocks, Tata Power (3.12%), Bharti (2.13%), BHEL (2.12%) were major losers. Hind Unilever (1.16%), Tata Motors (0.96%), Jindal Steel & Power (0.62%) were major gainers.

Total traded turnover stood at Rs 172,949 cr. In equities FIIs were continue to be net buyers of Rs 733 cr while DIIs were net sellers of (Rs 877 cr). On the derivatives side, FIIs were net sellers in Index Futures (Rs 518 cr) & Stock Options (Rs 174 cr). They were net buyers in Index Options (Rs 4037 cr) Stock Futures (Rs 125 cr).

The US markets ended mixed following relatively quiet on the U.S. economic front. The Dow Jones gained 3 points or 0.02% to close at 14,450 while the NASDAQ lost 10 points or 0.32% to close at 3,242 The Asian markets are trading lower. Nikkei is trading lower by 0.51% while Hang Seng is trading lower by 0.33%.

Asian markets opened flat in early trade on account of profit booking after a steep rally last week and mixed signals from other global equities. Indian indices are also expected to open on a flattish note and investors will closely look at bonds sales in Italy and Spain to gauge direction of the markets in near term.

Source : Equity Bulls

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