Markets could open flat and could remain volatile throughout the session:: HDFC sec

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Indian Markets

The 30-share Sensex ended down 854.86 points or 3.1% at 26,987.46 and the 50-share Nifty ended down 251.05 points or 3% at 8,127.35. In the broader market, both the BSE Midcap and Smallcap indices ended largely in-line with the front-liners with losses of around 3% each.

Market breadth in BSE ended heavily negative with 2,253 declines against 644 advances.  India's HSBC PMI for services was down to 51.1 points in December against 52.6 points in November. NSE cash turnover was at Rs. 17103.

All the 12 sectoral indices ended in red with losses around 1.4% to 4.2%. BSE Oil & Gas index, down 4.2% ended with highest losses followed by BSE Realty, BSE Metal and BSE Capital Goods indices closing down 3.6%, 3.5% and 3.2% respectively. BSE FMCG index, down 1.4% lost the least. 

As per the provisional figures on Tuesday, FIIs were net sellers of Rs. 1571 cr in the cash market, while they were net sellers of Rs. 1284 cr in the F&O markets. DIIs were net buyers of Rs. 1190 cr in the cash market. 

US and European Markets

US stocks ended lower for a fifth session on Tuesday as data showed slower growth in the US service sector and oil prices fell further. The Dow Jones industrial average fell 130.01 points, or 0.74 percent, to 17,371.64, the S&P 500 lost 17.97 points, or 0.89 percent, to 2,002.61 and the Nasdaq Composite dropped 59.84 points, or 1.29 percent, to 4,592.74.

European markets finished lower with shares in London leading the region. The FTSE 100 is down 0.80% while France's CAC 40 is off 0.68% and Germany's DAX is lower by 0.04%.

The Indian ADRs ended on a weak note. Infosys & Wipro fell by 0.7% & 1.4% respectively, while Dr. Reddy?s & Tata Motors fell by 2.4% & 5.3% respectively. ICICI & HDFC Bank fell by 5.7% & 3% respectively.
 
Latin American Markets

Among the Latin American markets, the Mexican markets were up 0.6%, while Brazilian index ended higher by 1%.

Asian Markets

Asian markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.44% while the Hang Seng is up 0.05%. The Nikkei 225 is not trading.

As of IST 8.45 am SGX Nifty is trading higher by 8 points. 

Currencies

The Indian rupee gained 0.16 against the US dollar and ended at 63.57

EUR/USD was last down 0.16% to 1.1866, down 0.20%, on Wednesday, not far from the lows of 1.1851 struck on Monday, the weakest level since February 2006.

Commodities

Oil for Feb 2015 contract ended lower by 4.2% at 47.9 $ / barrel.

Gold for Feb 2015 delivery gained 1.3% at 1219.4 $ / troy ounce.

Key Events for today

US - Mortgage Market Index, Mortgage Refinance Index, MBA 30 yr Mortgage, Crude Oil Inventories, Gasoline Inventories 
Europe - German Retail Sales, German Unemployment Change, Italian CPI, Italian HICP, Europe Core CPI & CPI
Brazil - Auto Production, Foreign Exchange Flows

Outlook

Indian markets could open flat and could remain volatile throughout the session. Immediate support for Nifty is at 8080 level, while immediate resistance is at 8220 level. Among the sectoral indices Banks, Capital Goods, Power could outperform.