Market Likely To Open Weak
Indian equities indices ended on lower note tracking weaker regional markets as fears about an earlier-than-expected US rate hike and renewed concerns about Greece’s debt problems, while cigarette maker ITC slumped after posting lower-than-expected earnings. The Sensex ended the day down 1.12% at 27,643.88 and the Nifty closed below the 8400-mark, down 88.70 points to 8370.25. The BSE Midcap and Smallcap indices closed flat with negative bias.
Asian stocks mostly rose Monday on a quiet trading day with Wall Street, London, Frankfurt and Hong Kong closed for holidays. European shares fell in thin trade on Monday while the dollar powered ahead after U.S. Federal Reserve Chair Janet Yellen indicated that the central bank was poised to raise interest rates this year. France's CAC-40 was among the few indexes to trade, shedding 0.5% to 5,117.17 points. Spain's IBEX equity index fell 2.3% after voters in regional and local elections on Sunday punished Prime Minister Mariano Rajoy's ruling PP for four years of austerity while Greece's ATG share index fell 2%. Italy's FTSE MIB also fell 1.4%.
Asian shares opened mixed on Tuesday amid a lack of fresh cues offshore, with Japan shares tapping and then retreating from a fresh 15-year high whereas South Korean shares slipping as the market reopened from a holiday. South Korea’s Kospi index fell 0.2%. Japan’s Topix index lowers 0.1%. Australia’s S&P/ASX 200 Index advanced 0.72% while New Zealand’s NZX 50 Index up 0.1%. The Hang Seng and the Shanghai Composite Index rose 1.37% and 1.1% respectively.
SGX Nifty is marginally lower by 4.5 points. Indian market is likely to open weak. However going forward it remains quite volatile, on account of May F&O expiry in this week. ABG Shipyard, ABM Knowledgeware, BHEL, CCL Products (India), D B Realty, Dish Tv India, Dredging Corp, Esab India, Forbes & Co, Garware-Wall Ropes, Heritage Foods, IDBI Bank, IFCI, I G Petrochem, ISGEC Heavy Eng, Kolte-Patil, Plastiblends India, Reliance Power, Setco Automotive, Suven Life Sciences, Sunteck Realty, Shreyas Shipping, Tech Mahindra and Tata Motors would be reporting fourth quarter earnings today.