Worrisome Wednesday! Stock market to open lower

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