According to Ventura Securities, expect the markets to open on a flat note after yesterday's rally as well as mixed cues from global markets with US markets ending in green while Europe and Asia markets are in red.
Sensex, on Monday, gained 242 points and closed at 25,723, after two days of losses as software services exporters such as Infosys rallied on a weaker rupee while lenders gained a day before the RBI's policy review. Among sectors, Consumer Durables, IT, Power, Teck and Capital Goods ended on a positive note among others. Among stocks, Infosys, Hindalco, Sesa Sterlite, Wipro and Maruti advanced the most. Market breadth was positive with 1,787 advances against 1,127 declines.
Nifty gained 81 points and closed at 7,683. Today we expect the markets to open on a flat note after yesterday's rally as well as mixed cues from global markets with US markets ending in green while Europe and Asia markets are in red.
US markets closed on a positive note. Dow Jones and Nasdaq were both up by 0.5% and 0.7%, respectively as markets rebounded after posting its worst weekly loss in more than two years amid worries about the outlook for Federal Reserve policy and global credit-market woes. US markets, today, will see data releases on Final Services PMI, ISM Non-Manufacturing PMI, Factory Orders and IBD/TIPP Economic Optimism.
Asian markets are trading on a negative note with Nikkei and Hang Seng both down by 0.2% and 0.1%, respectively. SGX Nifty is trading flat at 7,728. Indian ADRs ended the day on a positive note. Among financial ADRs, ICICI Bank was down by 0.2% and HDFC Bank was up by 0.7%. Among IT ADRs, Wipro and Infosys were both up by 1.8% and 3.8%, respectively. Tata Motors was up by 1.5%.
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