Indian Markets lose tailing global cues - Cholamandalam Securities

The markets put in a lackluster performance tailing global cues. The market breadth was weak.

The BSE Small-Cap index shed 1.27% and underperformed the Sensex. The BSE Mid-Cap index lost 1%.

Shares of power finance firms dropped. Rural Electrification Corporation (REC) lost 4.82% and Power Finance Corporation shed 4.67%.

Declines in the Chinese markets put pressure on metal stocks. CNX Metal was down 1.43%.

US retailer sales climbed twice as much as the forecast for the month of February, clearly indicating a revival in consumption led by an improved job market.

Inventories in the U.S. rose in January by the most since May 2011 as companies replenished warehouses and shelves amid signs demand will pick up.

The markets are expected to open on a weak note amidst global cues. WPI Inflation for February would be released today; market expectations are placed at 6.5%.

Source : Equity Bulls

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