Worrisome Wednesday! Stock market to open lower

India Infoline Research Team | Mumbai | February 10, 2016, 09:27 IST

The outlook is another weak start. Nifty may continue to struggle before a meaningful bounce back. The low of 7240 will remain crucial support for the Nifty.

Wounded investors have to get geared for some more battering. The ongoing weakness in the market has more to do with multiple negative vibes from across global markets rather that weak December quarter earnings of India Inc. The Sensex has plunged almost 600 points over the past two days, eroding almost Rs. 1,20,000 crore of equity investors wealth.
 
The outlook is another weak start. Nifty may continue to struggle before a meaningful bounce back. The low of 7240 will remain crucial support for the Nifty. The rupee movement will be in focus. Among results to watch for the day include Cipla, Ambuja Cements, ACC, Alstom T&D, Glaxosmithkline Pharma,  Bata India and Blue Dart Express among others. Following IEA's weak outlook for global oil demand, crude oil prices lost gains of a fortnight as Brent crude dropped below $31 while West Texas Intermediate was below $28 a barrel in New York.
 
Results preview: Cipla Revenues Rs. 3,403cr (-1.4% qoq) PAT Rs. 409cr (-5.1% qoq)
 
Indian market % change
Last close 1 day 3 mth YTD
Sensex 24,021 (1.1) (6.7) (8.0)
Nifty 7,298 (1.2) (6.2) (8.2)
BSE 100 7,389 (1.4) (6.7) (8.7)
BSE 200 3,086 (1.4) (6.3) (8.6)
CNX Midcap 12,174 (1.5) (5.3) (9.1)
BSE  Small Cap 9,679 (1.3) (6.4) (9.0)
BSE 100 Futs 7,419 (2.6) (8.3) (8.4)
Sensex Futs - - (5.8) (5.2)
Developed market % change
Last close 1 day 3 mth YTD
Dow Jones 16,014 (0.1) (9.8) (8.1)
Nasdaq 4,269 (0.3) (16.0) (14.8)
S&P 500 1,852 (0.1) (11.0) (9.4)
FTSE 5,632 (1.0) (10.2) (9.8)
CAC 3,998 (1.7) (18.6) (13.8)
DAX 8,879 (1.1) (18.0) (17.3)
Hang Seng* 19,288 0.5 (15.7) (12.0)
Nikkei* 15,755 (2.1) (19.9) (17.2)
Emerging market % change
Last close 1 day 3 mth YTD
Shanghai Comp 2,763 (0.6) (23.0) (21.9)
Brazil Bovespa 40,592 (0.6) (13.5) (6.4)
Mexico Bolsa 42,399 (0.9) (4.4) (1.3)
Kospi* 1,918 0.1 (6.0) (2.2)
Straits* 2,574 (1.9) (14.5) (10.7)
* Markets are open
Institutional activity
(Rs cr) Cash F&O MTD YTD
FIIs 62 -231 97 6,222
MFs 590 - 429 6,545
FIIs Prov. -681
MFs Prov. -174
Commodities % change
Last close 1 day 3 mth YTD
Crude (US$/bbl) 28.5 1.9 (35.6) (23.1)
Gold (US$/oz) 1,191 0.2 9.3 12.2
Copper (US$/mt) 4,498 (0.2) (8.7) (4.4)
Aluminium (US$/mt) 1,487 0.4 (1.4) (1.3)
Zinc (US$/mt) 1,682 (0.1) 4.7 4.5
Currency % change
Last close 1 day 3 mth YTD
Rs/US$ 67.90 (0.1) (2.1) (2.6)
US$/GBP 1.45 (0.0) (4.3) (1.8)
US$/EUR 1.13 0.0 5.3 4.0
Yen/US$ 114.78 (0.3) 7.3 4.7
Advance/Decline stocks
(Nos) 30-Dec-15 29-Dec-15
Adv 732 650
Dec 810 916
Unch 81 51
A/D ratio (x)* 0.90 0.71
*A/D excluding Unch
Trade value
(Rs cr) % chg
Cash NSE 14,636 1.1
Cash BSE 2,257 (4.2)
Total Cash 16,893 0.3
Delivery (%) 45.4 0.0
Derivatives 3,24,799 5.6
Bond Market
Last close Bps chg
10yr Gsec 7.84 0.00
Call rate 6.25 -1.00
 
 

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