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Dec 31, 2012, 11.16 AM IST
Angel Broking has come out with research report on Indian equities. The firm feels the Indian market is expected to open flat with a negative bias tracking the SGX Nifty, which is currently trading marginally in the red.
The report says, "The cues from the Asian markets are mixed with the HangSeng trading marginally lower by ~0.1% while the Shanghai Composite is trading higher by 0.6%. Some of the Asian markets, namely the Japanese and the Korean markets are shut for the day."
"The US markets ended sharply lower on Friday with worries about the looming fiscal cliff continuing to weigh on investor sentiments. The major US indices fell by ~1% as the law makers failed to reach a budget agreement even on Friday, with just four days to go for the year-end deadline. Due to the focus on Washington, traders largely shrugged off the upbeat economic data, which showed that pending home sales rose to a two-year high in November. European markets too finished the day lower due to the stalemate in budget negotiations in the United States. Meanwhile the Indian markets ended higher on Friday, discounting the probability of an eleventh hour solution among the US lawmakers to avert a fiscal cliff."
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To read the full report click here
Tags: Angel Broking
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