INDIAN BENCHMARKS are likely to witness cautious opening as the global cues look mixed with SGX Nifty Trading Tips trading 7 points lower. Indian equity benchmarks are set to witness a cautious opening on Monday as an Asian stock rout deepened amid jitters over the health of the global economy and an ongoing slump in oil prices as a removal of sanctions against Iran threatened to worsen a supply glut, sinking investor sentiment and souring risk taking appetite. The CNX Nifty Index futures for January delivery fell by 0.10 per cent or 7.5 points at 7,443.5 at 10:27 am Singapore time, a sign that Dalal Street may open lower today.
Headlines for the day:
- Wipro Q3FY16 results: Muted quarter, guidance for Q4FY16 looks lackluster
- Aurobindo Pharma receives USFDA Approval for Tranexamic Acid Injection
- IDBI Bank to raise Rs 3,771 Cr through QIP route
Global Indices:
- Markets across Asia continued to bleed heavily on Monday as fears over the health of the world economy and tumbling oil prices fueled worries over disinflation, hitting investor mood. Investors awaited China’s fourth quarter GDP data due on Tuesday which could show a further slowdown in the world’s second biggest economy with growth pegged at 6.8 per cent, year on year by analysts, down from 6.9 per cent in Q3.
- Oil slid below the USD 30 per barrel mark to a fresh 12-year low with Iran rattling markets by getting ready to increase its shipments by 500,000 barrels per day after the lift-off of West-imposed sanctions against the Islamic Republic over the weekend, threatening to deepen a global supply surplus.
- Wall Street tumbled on Friday with benchmark S&P 500 sinking to the lowest level since August amidst an ongoing commodity rout and contractions in retail sales & factory output which signaled renewed concerns over the health of the world’s biggest economy.
- Capping off the weakest year since 2009, US retail sales dipped 0.1 per cent in December while factory output fell for a second month on the trot, down 0.1 per cent last month. The Dow Jones Industrial Average sank 2.39 per cent; the Nasdaq Composite fell 2.74 per cent while S&P 500 declined 2.16 per cent.
- European shares ended on Friday at their lowest since mid-December 2014, hit by losses in commodity-related stocks as BHP Billiton announced a major writedown and oil fell below $30 a barrel.
Trend in FII flows:
The FIIs were net sellers of Rs -1123.79 Cr in the cash segment on Friday while the DIIs were net buyers of Rs 688.84 Cr, as per the provisional figures released by the NSE
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