Market set for bearish opening

Indian Indices:

The key domestic benchmarks are likely to open on a weaker note today tracking a mostly bearish trend in Asian stocks. SGX Nifty is trading 65.50 points down.

Indian shares edged lower on Monday as state-run lenders fell on disappointment over a lack of significant announcements after a two-day banking conclave attended by Prime Minister Narendra Modi, while technology stocks also fell. The S&P BSE Sensex and CNX Nifty ended 0.16%-0.20% lower each.

Investors will be eying the India HSBC Services activity data to be released today which will offer fresh cues over the health of Asia’s third biggest economy. Caution ahead of the Q3 corporate earnings season beginning this week may weigh on the market.

On (Monday 05, 2015),  30-share Sensex ended lower by 46 points at 27,842 and the 50-share Nifty slipped 17 points to trade at 8,378.

Global Market:

Asian shares tumbled on Tuesday as sliding oil prices and political uncertainty in Greece forced investors out of risk assets and into the safety of government bonds.

U.S. stocks fell sharply on Monday, with the S&P 500 extending losses into a fourth session, as energy companies took it on the chin as the price of oil fell to its lowest since April 2009.

European equities fell sharply in choppy trading on Monday, with concerns over Greece’s future in the euro zone and a steep drop in prices of crude oil and copper hurting financial and commodities stocks the most.

Major Headlines of the day:

Deepak Fertilisers sells 2% stake in MCF.

Essel Propack boosts manufacturing capacity in Egypt, China.

MOIL slashes manganese ore prices by up to 7.5%.

SGX Nifty

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