Sensex, on Friday, lost 260 points and closed at 25,329, as worsening geopolitical worries after US President Barack Obama authorised targeted air strikes in Northern Iraq weighed on the markets. Among sectors, Realty, Metal, Power, Capital Goods and PSU ended on a negative note among others. Among stocks, Sesa Sterlite, Tata Power, BHEL, Tata Steel and Hindalco declined the most. Market breadth was negative with 2,118 declines against 800 advances.
Nifty lost 81 points and closed at 7,568. Today we expect the markets to open on a positive note on the back of positive cues from global markets.
US markets ended the day on positive note. Dow Jones and Nasdaq were both up by 1.1 percent and 0.8 percent, respectively, buoyed by signs that tensions in Ukraine might be easing. US markets, this week, will see data releases on NFIB Small Business Index, JOLTS Job Openings, Federal Budget Balance, Retail Sales, Business Inventories, Unemployment Claims, PPI and Prelim UoM Consumer Sentiment. FOMC members Fischer and Dudley are also scheduled to speak this week.
Asian markets are trading on a positive note with Nikkei and Hang Seng both up by 1.9 percent and 1 percent, respectively. SGX Nifty is trading up by 51 points at 7,644. Indian ADRs ended the day on a mixed note.
Among financial ADRs, ICICI Bank was up by 0.55 percent and HDFC Bank down by 0.8 percent. Among IT ADRs, Wipro and Infosys were both up by 2.9 percent and 1.3 percent, respectively. Tata Motors was down by 1 percent.
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