15 December 2014

Intraday Tips: Nifty breaks 8200, Sensex weak on global cues

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The Intraday market may open lower, with the indices extending recent losses as weak Asian stocks and data showing after market hours on Friday, 12 December 2014, that index of industrial production (IIP) declined, at a sharpest pace in three-years in October 2014 may weigh on investor sentiment.Asian stocks edged lower today, 15 December 2014 on slump in oil prices as concern that the global economic outlook is worsening pushed credit risk higher.
The Indian Intraday equity market is expected to start the week on a negative note on the back of weak global cues and poor macro data. The SGX Nifty was trading at 8224.50, down 48.50 points at 7:30am. Globally, Asian stocks have kick started the week on the back foot, tracking sharp declines on Wall Street, as investors fretted about the relentless slide in oil prices and declining manufacturing sentiment in Japan.
Brent crude futures fell as much as 2.5 percent to a new five-year low near USD 60 a barrel after the International Energy Agency forecasted further price falls and OPEC's chief defended the group's decision not to cut its output target. And gold held steady at around USD 1220 an ounce following a firm dollar. Indian markets are expected to trade in a range on Monday tracking muted trend seen in other Asian markets.

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