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Market to open in red: Ventura Securities

Markets to open in red following negative global cues and below expected IIP growth estimates, says Ventura Securities.

December 15, 2014 / 09:11 AM IST

Ventura Securities' Fundamental Report:

Sensex, on Friday, fell 251 points and closed at 27,350 weighed down by a sluggish European opening amid release of macro-economic data later in the day.

Among sectors Oil & Gas, Realty and Consumer Durables Goods on a weak note. Among stocks, Infosys, Maruti Suzuki and Bharti Airtel gained the most. Market breadth was negative with 2,042 declines against 880 advances. Nifty lost 69 points and closed at 8,224. Today we expect the markets to open in red following negative global cues and below expected IIP growth estimates. US markets ended the day on negative note. Dow Jones and Nasdaq declined 1.79 percent and 1.15 percent respectively as global energy prices continue to crater. US markets, this week, will see data releases on CPI m/m, Core CPI m/m, FOMC Economic Projections, FOMC statement, Federal Funds Rate, FOMC Press Conference, Philly Fed Manufacturing Index, Unemployment Claims,Empire State Manufacturing Index, Capacity Utilisation Rate, Industrial Production m/m, NAHB Housing Market Index, Flash Manufacturing PMI, Current Account, Crude Oil Inventories, CB Leading Index m/m and Natural Gas Storage. Asian markets are trading on a negative note with Nikkei down 1.23 percent and Hang Seng down 1.60 percent due to slide in energy shares. SGX Nifty is trading down 44 points at 8,229.

Indian ADRs ended the day on anegative note. Among financial ADRs, ICICI Bank fell 1.95 percent and HDFC Bank fell 0.68 percent. Among IT ADRs, Wipro and Infosys declined 4.28 percent and 1.20 percent, respectively.Tata Motors closed 2.23 percent down.

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first published: Dec 15, 2014 09:11 am

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