Weak opening likely tracking Global cues

Indian Indices:

The Indian equities Markets are likely to extend Thursday’s losses owing to Global cues. SGX Nifty is trading 64.00 points lower.

On economic front, the India’s manufacturing sector ended the year 2013 on a bit of pessimistic note as growth fell in December against the previous month, showed the widely-tracked HSBC purchasing managers’ index (PMI).

India’s Manufacturing PMI was down at 50.7 points in December from 51.3 in the previous month. This is the second month in a row when manufacturing activities registered a growth after falling since August, as data were released yesterday.

On Thursday (January 02, 2014), Sensex closed at 20,888.33, down by 252.15 points, while the Nifty fell by 80.50 points to close at 6,221.15.

Global Market

Asian share markets were under water on Friday (January 03, 2013) after a sudden reversal in some very popular, and thus crowded, trades sparked a bout of global risk aversion.

Stocks on Wall Street closed sharply lower on the first trading day of 2014 after data pointed to a slowdown in manufacturing expansion in China and the United States.

European stocks slipped on Thursday (January 02, 2013) as soft Chinese and French manufacturing data prompted investors to start New Year trading by cashing in a portion of the lofty gains made in 2013.

Major Headlines of the day

SAIL Oct-Dec sales grow 6% to 3 million tonnes.

Tata Motors sales down 42% in December.

TVS Motor domestic 2-wheeler sales continues to drop.

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