Markets open in the green - 18 Dec: HDFC Sec

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Indian Markets

The 30-share Sensex ended down 71 points at 26,710 and the 50-share Nifty lost 38 points to close at 8,030.  In the broader market, the BSE Mid-cap index ended down 0.6% and Small-cap index fell 1%. Market breadth ended weak with 1,778 losers and 1,036 gainers on the BSE. During the early trades, the 30-share Sensex was down 230 points at 26,550 and the 50-share Nifty was down 79 points at 7,988, below the 8,000 mark for the first time since October, 28  NSE cash turnover was at Rs. 20000.

On the sectoral front, BSE Healthcare index was the top loser down 2% followed by FMCG, Auto and Realty indices trading lower by 1.5% each. However, BSE Metal and Oil & Gas indices gained nearly 1% each and Bankex climbed nearly 0.2%.

As per the provisional figures on Wednesday, FIIs were net sellers of Rs. 1636 cr in the cash market, while they were net sellers of Rs. 460 cr in the F&O markets. However, DIIs were net buyers of Rs. 1424 cr in the cash market. 

US and European Markets

The Dow Jones industrial average rose 288 points, or 1.69 percent, to 17,356.87, while the S&P 500 gained 40.15 points, or 2.04 percent - its biggest daily percentage rise since October 2013 - to 2,012.89. The Nasdaq Composite added 96.48 points, or 2.12 percent, to 4,644.31. The S&P 500 scored its best day since October 2013 on Wednesday as the Federal Reserve gave an upbeat assessment of the US economy and said it would take a patient approach toward raising interest rates.

European markets finished mixed as of the most recent closing prices. The CAC 40 gained 0.46% and the FTSE 100 rose 0.07%. The DAX lost 0.20%.

The Indian ADRs ended in the green with Dr. Reddy?s, ICICI & HDFC Bank gaining the most by 2.4%, 2.3% & 2.3% respectively. Infosys & Wipro rose 1.3% & 0.3% respectively, while Tata Motors ended higher by 1.3%.
 
Latin American Markets

Among the Latin American markets, the Mexican markets gained 1.9%, while the Brazilian index ended higher by 3.6%.

Asian Markets

Among the Asian markets, Kospi & Shanghai are down by 0.4% & 0.2% respectively. However, Nikkei, Hang Seng & Taiwan are up by 2.6%, 1% & 0.8% respectively, while Strait Times is trading higher by 0.5%. 

As of IST 8.35 am SGX Nifty is trading higher by 87.5 points. 

Currencies

The Indian rupee hit a 13-month low of 63.54 against the dollar, which is the weakest level since 13 November 2013.

The dollar rose against the euro, after trailing both currencies over the past week, after Janet Yellen said the Fed would wait before beginning its first series of Fed rate increases in more than six years. The euro EURUSD, 0.02%  traded at $1.23, its lowest level since Dec. 8.

Commodities

Oil for Jan 2015 contract was up 1% at $56.5/barrel.

Gold for Feb 2015 delivery was almost flat at $1194.5/troy ounce.

Key Events for today

US - FOMC Economic Projections, FOMC Statement, Fed Funds Target Rate, Continuing Jobless Claims, Initial Jobless Claims, Philly Business Conditions, Natural Gas Storage, 5 Year Tips Auction.
New Zealand - GDP
Europe -  German Business Expectations, German Current Assessment, 
UK - Core Retail Sales, Retail Sales
Japan - Foreign Bonds Buying

Outlook

Indian markets could open in the green following positive global cues and consolidate at higher levels throughout the session. Strong support for Nifty is at 7930 level, while immediate resistance is at 8150 level. Among the sectoral indices, Metals, Oil & Gas and Bankex could outperform. Even Auto & FMCG could bounce bank after yesterday?s fall.