Market Is Likely To Open Weak

Indian equities indices fall second straight session on yesterday tracking mixed trend seen in other Asian markets. The Sensex opened at 28,876.23 points, was trading at 28,550.90 points (at 2.35 p.m.) in the late-afternoon session, down 248.79 points or 0.86% from the previous day’s close at 28,799.69 points. The Nifty also dropped by 43.50 points or 0.50% to end at 8,706.70 after shuttling between 8,760 and 8,645.65 intra-day. The BSE midcap was down 128.04 points. The BSE smallcap was trading lower by 140.61 points.

U.S. stocks indices fell in late trading and closed slightly lower Thursday as the rebound in oil prices continued and investors assessed another batch of corporate earnings reports. The Dow Jones Industrial Average was up as high as 57 points on the session, closed down 6.84 points at 18,105.77. The S&P 500 index declined 1.64 points to finish at 2,104.99. The Nasdaq Composite Index slipped 3.23 points, or 0.1%, to 5007.79.

Oil prices rose for a sixth straight day as WTI crude gained 32 cents to close at USD 56.71, hitting a 2015 high of USD 57.42 after recovering from a USD 55.07 intraday low. Brent crude for June delivery rose 66 cents to settle at USD 63.98 a barrel, rallying from a USD 62.00 low and reaching a 2015 peak for front-month Brent of USD 64.95.

European stocks on Thursday dropped from a record high as investors kept an eye on Greece’s debt situation and sifted through corporate financial updates. The Stoxx Europe 600 SXXP, -0.76%   fell 0.8% to 410.93. Germany's DAX taking a 1.9% pounding and the FTSE of Britain falling 0.5%. In France, the CAC 40 shed 0.6%.

Asian shares edged up in early trade on Friday, on track to score weekly gains and shrugging off a languid performance on Wall Street after another set of lackluster U.S. economic data. China's Shanghai Composite index extended gains to hit another fresh 7-year high. The bourse surged 1.8% in early trade as bets of further stimulus continued to buoy risk appetite. Hong Kong's Hang Seng index advanced 0.7%. Japan's Nikkei 225 index fell to a more than one-week low in early trade and slipped 0.6%, poised for a weekly loss around 0.5%.

SGX Nifty is trading at flat. Indian market is likely to open weak. Crisil, Delta Corp, RS Software and Reliance Ind would be reporting fourth quarter earnings today.