Among the sectoral indices Banks, Capital Goods, Auto, Pharma could outperform :: HDFC Sec

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Indian Markets

Benchmark indices recouped intra-day losses and ended flat helped by a recovery by financials in late trades.  Absence of strong directional cues and weakness in global equity markets dampened sentiment. The 30-share Sensex and the 50-share Nifty ended flat at the mark of 27,403 and 8,248 respectively.

In the broader market, both the BSE Midcap and Smallcap indices performed better than the front-liners with gains of around 0.5% and 0.1% each.  Market breadth in BSE ended slightly positive with 1,439 advances against 1,420 declines.

BSE Consumer Durables and Capital Goods indices, up around 1.4% and 1.1% each, were the lead gainers among sectoral indices followed by BSE Power index, up 1.1% and BSE Healthcare index, up 0.4%. BSE Oil & Gas index, down 1.2% lost the most followed by BSE Metal index which ended down 1%.

As per the provisional figures on Tuesday, FIIs were net buyers of Rs. 278 cr in the cash market, while they were net buyers of Rs. 1580 cr in the F&O markets. DIIs were net buyers of Rs. 161 cr in the cash market. 

US and European Markets

U.S. stocks finished lower in another light trading session on Tuesday. The market took its cues from overseas, where stocks in Europe and Asia fell, and a modest flight-to-safety trade saw the yield on the U.S. 10-year Treasury note slip back under 2.20%. S&P 500 ended lower by 0.5%, while Dow Jones & Nasdaq fell by 0.3% & 0.6% respectively.

European markets ended lower. UK?s FTSE 100 fell by 1.3%, while France?s CAC 40 & Germany?s DAX fell by 1.7% & 1.2% respectively.

Most of the Indian ADRs ended mixed. Banking stocks HDFC Bank was up 0.8% while ICICI Bank was higher by 1.1%. Software majors Infosys was down 1% while Wipro was down 0.4%. Dr Reddy?s was up 0.8% while Tata Motors was up 0.8%.
 
Latin American Markets

Among the Latin American markets, Mexico markets were down 0.4% while the Brazilian index ended lower by 1.2%.

Asian Markets

Asian markets are lower as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.05% while the Hang Seng is down 0.04%. The Nikkei 225 is not trading.

As of IST 8.20 am SGX Nifty is trading higher by 13.5 points. 


Currencies

The Indian rupee erased all its morning losses and ended higher on Tuesday on suspected selling of dollars by state-run and foreign banks. Gains in Asian currencies also boosted the sentiment. The rupee closed at 63.38 a dollar, up 0.47% from its previous close of 63.68.? 

Euro struggled against the dollar as Greece plunged back into crisis, rekindling fears of a possible exit from the eurozone.

Commodities

Oil for Feb 2015 contract ended higher by 1%.
Gold for Feb 2015 delivery ended higher by 1.6%.

Key Events for Today

China - HSBC Manufacturing PMI
India - Federal Fiscal deficit, Foreign debt
US - Continuing & Initial Jobless claims, Pending Home sales, Chicago PMI, Crude Oil inventories, MBA Mortgage Applications 
 
Outlook

Indian markets could open positive and be range-bound with a positive bias. Immediate support for Nifty is at 8220 level, while immediate resistance is at 8280 level. Among the sectoral indices Banks, Capital Goods, Auto, Pharma could outperform while IT, Oil & Gas, Metals may relatively underperform.