Indices signal weak start

Indian Indices:

The stock markets are expected to open a tad lower on Tuesday, tracking weakness in Asian stocks. SGX Nifty is trading 37.00 points lower.

Consumer Price Inflation (CPI) for December 2013 came in at 9.87% against the market estimates (Bloomberg) of 10.12% vs 11.24% in November.

On Monday (January 13, 2014) Sensex closed at 21134.21, up by 375.72 points, while the Nifty rose 101.30 points to close at 6272.75.

Global Market

Asian shares came under pressure on Tuesday (January 14, 2014), with Japanese stocks tumbling more than 2% as the yen hovered near a four-week high against the dollar after last week’s surprisingly weak jobs report raised concerns about the US growth outlook.

US stocks tumbled on Monday (January 13, 2014) on caution ahead of corporate results, as mounting negative pre-announcements left a lackluster profit growth outlook.

European stocks rose in early trade on Monday (January 13, 2014), adding to last week’s gains, led by a rally in banking stocks after regulators agreed to ease the way that a leverage ratio is compiled to avoid squeezing financing for the global economy.

Major Headlines of the day

Vedanta shareholders okay Cairn India share buyback.

FTIL’s next Sebi hearing on February 12.

Spicejet seeks shareholders’ nod to hike promoters holding.

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