INDIAN BENCHMARKS-NEWS UPDATES

INDIAN BENCHMARKS are likely to start the session on a negative note as the global cues look unsupportive with SGX Nifty Trading Tips  trading 37.50 points lower.

                                                                      

Headlines for the day:

• UFO Moviez gets service tax demand order 
• Ashok Leyland resumes operations at Ennore facility impacted by rains 
• Siemens  bags order worth Rs377 crore from Indian Railways

Global Indices:

• Asian stocks sank as tepid China trade data signaled a worsening slowdown in Asia’s biggest economy while tumbling oil prices hit shares of energy producers. China’s Shanghai Composite slid over 1.3 per cent while Hang Seng slumped over 1.7 per cent as China’s exports slipped for a fifth month on the trot, declining 3.7 per cent, year on year, in yuan terms, in November 2015.

• Japan’s Nikkei 225 fell over 1 per cent as a sell-off in energy producers overshadowed upbeat GDP data which showed that the world’s third biggest economy grew by an annualized 1 per cent in the September quarter, hence averting a recession.

• Wall Street treaded water on Monday with all three of the Dow Jones Industrial Average, the Nasdaq Composite and S&P 500 retreating led by a sell-off in shares of raw material producers and energy companies.

Trend in FII flows:   The FIIs were net  sellers of  Rs – 65.04 Cr in the cash segment on Monday while the DIIs were net buyers of  Rs -54.9 Cr, as per the provisional figures released by the NSE.