Markets could open negative :: HDFC Sec

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Indian Markets

Benchmark share indices gained for the sixth straight session led by banks following the start of the bankers' meet while a private survey which showed that India's manufacturing activity rose to a two-year high also boosted sentiment. 

The Sensex ended up 380 points at 27,888 and the Nifty advanced 111 points to end five points shy of 8,400. However, in intra-day trades, the 50-share Nifty had crossed the 8,400 mark but failed to sustain. The broader markets which were resilient in intra-day trades, witnessed some profit booking the last half hour of trade. As a result, smallcap and midcap index recorded gains of less than a percent, underperforming the BSE benchmark index which was up 1.4%.

The market breadth ended positive on BSE. 1786 stocks advanced while 1150 stocks declined on BSE.

All the sectoral indices on BSE were in green with gains of at least 0.3%. Banks and Capital Goods indices up 1.6% each were the top sectoral gainers. Metal and Power indices which added 1.2% were the other notable sectoral gainers.

As per the provisional figures on Friday, FIIs were net buyers of Rs. 260 cr in the cash market, while they were net buyers of Rs. 772 cr in the F&O markets. DIIs were net buyers of Rs. 70 cr in the cash market. 

US and European Markets

U.S. stocks ended near unchanged on Friday, with the S&P 500 down for a third session, after economic reports showed manufacturing slowing but still in expansion mode at the end of 2014. The S&P 500 fell nearly a point to 2,058.20. The Nasdaq shed 9.24 points, or 0.2 percent, to 4,726.81. the Dow Jones Industrial Average fell as much as 91 points, before ending at 17,832.99, up 9.92 points, or 0.1 percent.

The European markets ended lower. FTSE fell by 0.3%, while DAX & CAC fell by 0.4% & 0.5% respectively. 

Most of the Indian ADRs ended positive. Banking stocks HDFC Banks & ICICI Bank were higher by 4.9% and 2.4%. Software majors Infosys and Wipro were up 1.4% and 1% respectively. Dr Reddys was down 0.7% while Tata Motors was up 3.7%.

Latin American Markets

Brazilian markets were down 3% while Mexican markets were down 2.5%
 
Asian Markets

Asian markets are mixed as Chinese and Hong Kong shares fall. The Shanghai Composite is up 1.5% while the Hang Seng is down 0.38%. The Nikkei 225 is not trading.

As of IST 8.25 pm SGX Nifty was trading lower by 27 points.

Currencies

The domestic currency rupee managed to settle the week 28 paise higher at 63.29 against the US dollar, breaking straight three weeks of decline. The gains were seen after the domestic currency bounced back to a two-week high during the mid-week on selling of dollars by exporters.

Commodities

Oil for Feb 2015 contract ended lower by 1.1% at 52.69 $ / barrel.

Gold for Feb 2015 delivery gained 0.2% at 1186.2 $ / troy ounce.

Key Events for Today

Japan - Manufacturing PMI,
US - Truck Sales, ISM NY Business Conditons
UK - Construction PMI
Germany - CPI

Outlook

Indian markets could open negative and be range-bound with a positive bias. Immediate support for Nifty is at 8340 level, while immediate resistance is at 8450 level. Among the sectoral indices Auto, Pharma, IT could relatively outperform while FMCG, Metals could relatively underperform.