Sensex may break 25k at open; oil slump, Fed in focus

Moneycontrol BureauIndian shares may open weak again, tracking Asian equities after crude oil fell again, this time setting under USD 36 to a barrel, and ahead of a crucial Federal Reserve interest rate meeting. Asian equities also got cues from a selloff on Wall Street Friday.In Singapore, the SGX Nifty, a futures index tracking the Indian market, is trading 50 points, or 0.67 percent, lower to 7,570, indicating a similar open for Indian shares. A proportionate fall in the Sensex could mean it could test 25,000 in early trade, a level it is only 200 points away from.Markets locally have closed in the red in seven out of the past eight trading days.In macro developments, a positive Tankan survey of confidence came in ahead of expectations over the weekend but that is being offset by an exodus in the junk bond market in the US.This week, the Fed is likely to hike interest rates for the first time in nine years, following strong macro data in the world's largest economy recently.In stocks in news, auto stocks could likely be in focus as clarity emerges a controversial order by the National Green Tribunal that ordered the city government to stop registering new diesel vehicles.TCS may also be in focus after it warned its third-quarter revenues could be impacted by the recent Chennai floods, In technicals, Indiabulls Housing Finance, Dish TV and Reliance Capital are stocks perched at their 200 day moving averages, says CNBC-TV18's research head Varinder Bansal. Infosys, ITC, RIL, LIC Housing Finance and Wockhardt are close to their 200 DMAs.