According to Ventura Securities, markets to open on a negative note on the back of subdued global markets.
Sensex, on Tuesday, gained 185 points and closed at 25,908, after RBI Governor Raghuram Rajan assured investors in a press conference that there is still room to cut rates in the near future provided disinflations continues. Among sectors, Realty, Auto, Metal, Consumer Durables and PSU ended on a positive note among others. Among stocks, M&M, ONGC, Bajaj Auto, Hindalco and Tata Motors advanced the most. Market breadth was positive with 1,757 advances against 1,167 declines.
Nifty gained 63 points and closed at 7,747. Today we expect the markets to open on a negative note on the back of subdued global markets.
US markets closed on a negative note. Dow Jones and Nasdaq were both down by 0.8% and 0.7%, respectively, amid escalating concerns that tensions could flare up between Russian and Ukraine, following reports that Russia is building up its military presence on the border with Ukraine. US markets, today, will see data releases on Trade Balance and Crude Oil Inventories.
Asian markets are trading on a negative note with Nikkei and Hang Seng both down by 0.8 percent and 0.9 percent, respectively. SGX Nifty is trading down by 29 points at 7,744. Indian ADRs ended the day on a negative note. Among financial ADRs, ICICI Bank and HDFC Bank were both down by 1.5 percent and 0.4 percent, respectively. Among IT ADRs, Wipro was down by 0.6 percent and Infosys was up by 0.8 percent. Tata Motors was down by 0.4 percent.
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