Market to open on negative note: Ventura Securities

Written By Unknown on Rabu, 10 September 2014 | 10.54

According to Ventura Securities, the markets to open on a negative note on the back of weak global cues.

Ventura Securities' market report:

Sensex, on Tuesday, lost 52 points and closed at 27,265, on account of profit booking in large caps and weakness in metal stocks ahead of the Supreme Court's verdict on illegal coal blocks. Among sectors, Realty, IT, Oil & Gas, Teck and Capital Goods declined the most. Among stocks, Bajaj Auto, ONGC, ICICI Bank, Hero Motocorp and L&T declined the most. However, market breadth was positive with 1,660 advances against 1,352 declines.

Nifty lost 21 points and closed at 8,153. Today we expect the markets to open on a negative note on the back of weak global cues.

US markets ended the day on negative note. Dow Jones and Nasdaq were both down by 0.57% and 0.88%, respectively as the markets consolidate after strong gains in the past month. Apple Inc's shares were the most volatile on the eve of the launch of iPhone 6 yesterday. US markets, today, will see data releases on Crude Oil Inventories, 10-year bond auction, and Wholesale Inventories m/m.

Asian markets are trading on a negative note with Nikkei and Hang Seng both down by 0.36% and 1.43%, respectively. SGX Nifty is trading down by 39 points at 8,139. Indian ADRs ended the day on a negative note. Among financial ADRs, ICICI Bank and HDFC Bank were both down by 1.44% and 0.16%, respectively. Among IT ADRs, Wipro and Infosys were both down by 0.98% and 2.36%, respectively. Tata Motors was down by 1.44%.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.


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