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�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
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Indian Markets
The 30-share Sensex ended down by 499 points at 29,183 and the 50-share Nifty slipped 143 points at 8,809 on Friday. However, BSE
Midcap and Smallcap indices fell between 0.3-0.4%.
Market breadth on the BSE ended weak with 1,257 advances against 1,603 declines. NSE cash turnover was at Rs. 24547 cr.
BSE Bankex plunged by over 3% followed by counters like Consumer Durables, Metal, Capital Goods, FMCG, Healthcare and Oil & Gas, all dropping by 1% each. However, Realty, IT and Power sectors ended in positive zone.
As per the provisional figures on Friday, FIIs were net sellers of Rs. 771 cr in the cash market, while they were net sellers of Rs. 79 cr in the F&O markets. DIIs were net sellers of Rs. 38 cr in the cash market.
US and European Markets
U.S. market ended Friday?s session sharply in the red, thus posting its second-straight month of losses. The Dow Jones dropped 251 points, or 1.5%, to finish at 17,166 points. The S&P 500 and the Nasdaq composite dropped 1.3% and 1% respectively.
Concerns about weak domestic economic growth weighed down the market on Friday after the Commerce Department said that U.S. GDP grew at a lower-than-expected annual rate of 2.6% in the fourth quarter of 2014, down from 5% during the previous quarter.
Friday also brought renewed concern over economic stability in Europe, where Greece?s new finance minister said the country would not negotiate new bailout terms with the EU & IMF. The European markets closed in the negative territory. DAX of Germany closed lower by 0.4% while the CAC40 of France and FTSE100 of UK closed lower by 0.6% and 0.9% respectively.
The Indian ADRs ended sharply lower. Dr. Reddy?s, ICICI & HDFC Bank fell the most by 6.5%, 5.3% & 5% respectively. Tata Motors ended lower by 3.6%, while Infosys & Wipro fell by 1.6% & 1.8% respectively.
Latin American Markets
Among the Latin American markets, the Mexican markets fell by 2.2%, while Brazilian index ended lower by 1.7%.
Asian Markets
The Asian indices are trading on a mix note. Strait Times and Taiwan are up by 0.57%, and 0.14% respectively while Kospi is trading flat. However, Hang Seng & Shanghai are down by 0.51% & 1.78% respectively, while Nikkei is down by 0.54%.
As of IST 8.35 am SGX Nifty is trading lower by 47 points.
Currencies
The Indian rupee on Friday saw volatility, dropped to 62.03 a dollar level in the intra-day trade, but recovered in the end to close flat at 61.87. Nationalized banks were heavy buyers of dollars in the market. The nationalized banks have been buying the greenback since Thursday to meet year-end demand for their oil marketing clients. The exchange rate was also affected after stock markets reacted on fiscal deficit figures for the April-December period reaching 100.2% of the whole year target.
The euro retreated against other major currencies on Friday as struggling Greece refused to meet with its international creditors & rejected fresh loans & Eurozone showed weaker inflation.
Commodities
The Metal prices ended higher Copper & Zinc gaining 1.7% & 1.3% respectively. Aluminium & Nickel ended higher by 0.8% & 0.3% respectively.
Oil for March 2015 contract ended higher by 8.3% at 48.2 $ / barrel.
Gold for April 2015 delivery ended higher by 2% at 1279.2 $ / troy ounce.
Key Events for today
Japan - Manufacturing PMI
China - HSBC Manufacturing PMI
India - HSBC Markit Manufacturing PMI
EU, UK, Germany - Manufacturing PMI
US - Manufacturing PMI, Construction spending, ISM Manufacturing New Orders, Dallas Fed PCE
Outlook
Indian markets could open on a weak note following negative global. However, it could find support at lower levels and make an attempt to recover some of its losses during the latter half of the session. Crucial support for Nifty is at 8730 level, while immediate resistance is at 8860 level. Among the sectoral indices, Capital Goods & Consumer Durables could underperform.
The 30-share Sensex ended down by 499 points at 29,183 and the 50-share Nifty slipped 143 points at 8,809 on Friday. However, BSE
Midcap and Smallcap indices fell between 0.3-0.4%.
Market breadth on the BSE ended weak with 1,257 advances against 1,603 declines. NSE cash turnover was at Rs. 24547 cr.
BSE Bankex plunged by over 3% followed by counters like Consumer Durables, Metal, Capital Goods, FMCG, Healthcare and Oil & Gas, all dropping by 1% each. However, Realty, IT and Power sectors ended in positive zone.
As per the provisional figures on Friday, FIIs were net sellers of Rs. 771 cr in the cash market, while they were net sellers of Rs. 79 cr in the F&O markets. DIIs were net sellers of Rs. 38 cr in the cash market.
US and European Markets
U.S. market ended Friday?s session sharply in the red, thus posting its second-straight month of losses. The Dow Jones dropped 251 points, or 1.5%, to finish at 17,166 points. The S&P 500 and the Nasdaq composite dropped 1.3% and 1% respectively.
Concerns about weak domestic economic growth weighed down the market on Friday after the Commerce Department said that U.S. GDP grew at a lower-than-expected annual rate of 2.6% in the fourth quarter of 2014, down from 5% during the previous quarter.
Friday also brought renewed concern over economic stability in Europe, where Greece?s new finance minister said the country would not negotiate new bailout terms with the EU & IMF. The European markets closed in the negative territory. DAX of Germany closed lower by 0.4% while the CAC40 of France and FTSE100 of UK closed lower by 0.6% and 0.9% respectively.
The Indian ADRs ended sharply lower. Dr. Reddy?s, ICICI & HDFC Bank fell the most by 6.5%, 5.3% & 5% respectively. Tata Motors ended lower by 3.6%, while Infosys & Wipro fell by 1.6% & 1.8% respectively.
Latin American Markets
Among the Latin American markets, the Mexican markets fell by 2.2%, while Brazilian index ended lower by 1.7%.
Asian Markets
The Asian indices are trading on a mix note. Strait Times and Taiwan are up by 0.57%, and 0.14% respectively while Kospi is trading flat. However, Hang Seng & Shanghai are down by 0.51% & 1.78% respectively, while Nikkei is down by 0.54%.
As of IST 8.35 am SGX Nifty is trading lower by 47 points.
Currencies
The Indian rupee on Friday saw volatility, dropped to 62.03 a dollar level in the intra-day trade, but recovered in the end to close flat at 61.87. Nationalized banks were heavy buyers of dollars in the market. The nationalized banks have been buying the greenback since Thursday to meet year-end demand for their oil marketing clients. The exchange rate was also affected after stock markets reacted on fiscal deficit figures for the April-December period reaching 100.2% of the whole year target.
The euro retreated against other major currencies on Friday as struggling Greece refused to meet with its international creditors & rejected fresh loans & Eurozone showed weaker inflation.
Commodities
The Metal prices ended higher Copper & Zinc gaining 1.7% & 1.3% respectively. Aluminium & Nickel ended higher by 0.8% & 0.3% respectively.
Oil for March 2015 contract ended higher by 8.3% at 48.2 $ / barrel.
Gold for April 2015 delivery ended higher by 2% at 1279.2 $ / troy ounce.
Key Events for today
Japan - Manufacturing PMI
China - HSBC Manufacturing PMI
India - HSBC Markit Manufacturing PMI
EU, UK, Germany - Manufacturing PMI
US - Manufacturing PMI, Construction spending, ISM Manufacturing New Orders, Dallas Fed PCE
Outlook
Indian markets could open on a weak note following negative global. However, it could find support at lower levels and make an attempt to recover some of its losses during the latter half of the session. Crucial support for Nifty is at 8730 level, while immediate resistance is at 8860 level. Among the sectoral indices, Capital Goods & Consumer Durables could underperform.
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