Markets may open flat: Ventura Securities

Written By Unknown on Rabu, 11 Februari 2015 | 10.54

Ventura Securities' Fundamental Report:

Sensex, on Tuesday, gained 128 points and closed at 28,365 in a highly volatile trading session even as the markets witnessed some respite after seven consecutive days of decline.Sentiments were mixed with AAP storming the Delhi elections by winning 67 out of 70 seats. Among sectors, Bankex, Auto, Metals, Consumer Durables, Infra and Power gained over 1 percent each. Among stocks, Tata Motors, ICICI Bank, Tata Steel,and SBI gained the most. However, market breadth was negative with 1,454 declines against 1,288 advances.

Nifty gained 39 points and closed at 8,566. Today we expect the markets to open flat on account of mixed global cues. Investors will be closely looking out for a possible Greek debt deal in the meeting of Euro Group finance ministers scheduled today.

US markets ended on apositive note on yesterday; Dow closed 0.79 percent up, while Nasdaq gained 1.31 percent on the hopes of a possible extension to Greece's bailout which is ending on February 28, 2015. US markets, today, will see data releases on Crude Oil Inventories, 10-y Bond Auction and Federal Budget Balance.

Asian markets are trading on a negative note with Nikkei down 0.33 percent and Hang Seng down 0.59 percent as investors turned cautious after People's Bank of China's hawkish commentary on monetary policy.

SGX Nifty is trading down 5 points at 8,622. Indian ADRs ended the day on a positive note. Among financial ADRs, ICICI Bank closed 3.13 percent up while HDFC Bank gained 2.33 percent. Among IT ADRs, Wipro was up 0.74 percent, while Infosys was up 0.8 percent. Tata Motors was up 2.91 percent.

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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