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 22 points lower.

                                                                      

Headlines for the day:

• Tata Comm enters modified agreement for stake sale in Neotel 
• Kaya enters into agreement to purchase 75% stake in Iris Medical Centre 
• Tata Motors launches new version of SUV Safari Storme

Global Indices:

• Asian stock markets risked slipping to two-month lows on Wednesday as crumbling oil prices took a toll on energy and resource shares, with cooling demand from China putting more pressure on resources-reliant economies.

• Crude prices rose on Wednesday as Japan posted stronger than expected machinery orders and China announced an easing of some import taxes, lending the market at least temporary support in an environment of general oversupply.

• China's consumer inflation picked up slightly in November, while factories were plagued by persistent producer price deflation in another sign that Beijing's year-long easing efforts have yet to restore momentum to a fragile economy.

• European shares fell on Tuesday, with mining shares led lower by a slump in Anglo American to a new record low, and a top pan-European index falling to a 6-week low.

Trend in FII flows:   The FIIs were net  sellers of  Rs – 518.46 Cr in the cash segment on Tuesday while the DIIs were net buyers of  Rs 590.32 Cr, as per the provisional figures released by the NSE.