Worrisome Wednesday! Stock market to open lower
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.
Feb 10, 2016 09:02 IST India Infoline Research Team
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)
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 | ||
