Market to open on flat to negative note: Ventura Securities

Written By Unknown on Kamis, 24 Oktober 2013 | 10.54

Ventura Securities' Fundamental Report:

The Sensex, on Wednesday, fell by 97 points and closed at 20,768, on the back of profit-taking after rising to its highest level since November 2010 and as caution prevailed ahead of a key US monthly jobs report.

Among the stocks, Wipro , Sun Pharma and NTPC were the ones which declined the most while among sector indices, IT, power and realty ended on a negative note. Market breadth was negative with 1,176 advances against 1,239 declines.
 
The Nifty was down by 24 points and closed at 6,178. Today, we expect the markets to open on a flat to negative note on the back of weak global cues.
 
US markets ended on a negative note with the Dow Jones and Nasdaq down by 0.4 percent and 0.6 percent, respectively, as valuations reached an almost four-year high and as investors remained cautious ahead of important data points expected this week. Today, US markets will witness data releases on trade balance and new home sales.
 
Asian stock markets are trading negative with the Nikkei and Hang Seng down by 0.6 percent and 0.5 percent, respectively. SGX Nifty is trading up by 7 point at 6,198. Indian ADRs ended on a negative note.

Among financial ADRs, ICICI Bank and HDFC Bank were down by 1.6 percent and 1.3 percent, respectively. Among IT ADRs, Wipro and Infosys were down by 0.8 percent and 1.0 percent, respectively. Tata Motors was down by 2.4 percent.

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