Markets expect a negative start as Fed Tapering woes resurface

The Indian markets may open on a negative note led by weak Asian cues. SGX Nifty is trading 34.50 points lower.

Indian Indices:

The Indian markets may extend yesterday’s losses and start on a negative note led by unsupportive global cues. SGX Nifty is also trading 34.50 points lower.

On Wednesday (November 20, 2013) S&P BSE Sensex shed 255.69 points to close at 20635.13 while Nifty slipped 80.45 points to end at 6122.90.

Global Market

Asian stock markets were lower on Thursday (November 21, 2013) as risk sentiment took a hit after the U.S. Federal Reserve suggested that a change in monetary policy could come soon, while decelerating manufacturing activity in China weighed on Shanghai shares.

US stocks fell and Treasury yields jumped on Wednesday (November 20, 2013), with the S&P 500 extending losses into a third day, after Federal Reserve minutes showed central bankers generally expect economic conditions would support tapering central bank asset purchases in coming months.

European shares inched higher on Wednesday (November 20, 2013), recovering some of their poise after weakness in the previous session, with traders citing a report that the European Central Bank was mulling setting negative deposit rates.

Major Headlines of the day

Tata Power commissions addtl transmission line in Maharashtra.

Airtel floats proposal to upgrade 3G networks.

Coal India import tender seeks 5 million tonnes for power firms.

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