Choppy moves seen on subdued global cues

Indian shares are likely to open on a negative note, tracking weak global markets. SGX Nifty is trading 55.00 points lower.

Headlines for the day:

  • Pfizer wins patent for Voriconazole in India
  • Kingfisher faces scrutiny for accounting lapses
  • JSW Steel in advanced stages of acquiring London Mining

Indian Indices:

Indian shares are likely to open on a negative note, tracking weak global markets. SGX Nifty is trading 55.00 points lower.

Markets are likely to open lower, amid weak global cues, with second quarter earnings and inflation data in focus. Further, selling by foreign funds will also weigh on market sentiment.

The government will release consumer price inflation data for September later today.

Key Indices posted their biggest fall in 2-1/2 weeks on Friday, as blue-chips continued to be hit by concerns that weaker global markets would dent demand from foreign investors, although Infosys surged after a profit beat.

On Friday (October 10, 2014), the S&P BSE Se nsex closed at 26297.38, down by 339.90 points and the Nifty fell by 100.60 points to settle at 7859.95 in trade today.

Global Indices:

Asian stocks stumbled to seven-month lows on Monday, while crude oil prices were pinned near a four-year trough as promising trade numbers out of China failed to cheer a market still worried about faltering global growth.

European shares dropped sharply on Friday and Germany’s stock market, one of the region’s best performers since the 2008 financial crisis, fell to a one-year low as concerns mounted over the German and global economies.

The S&P 500 and Nasdaq on Friday posted their largest weekly declines since May 2012 and the Dow turned negative for the year, led down by technology stocks after a chipmaker warned of a major pullback in the industry.

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