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See flat to negative opening: Ventura Securities

According to Ventura Securities, market to open on a flat to negative note on the back of mixed global cues.

November 05, 2013 / 09:12 AM IST

Ventura Securities' Fundamental Report:


In a special trading session, Sensex, on Sunday, rose by 43 points and closed at 21,239, led by gains in Indian Bank, Tata Motors and ONGC on expectations of better quarterly earnings, while strong foreign flows continued to boost sentiment. Among the stocks, Tata Motors, Jindal Steel & Power (JSPL) and Sun Pharma were the ones which advanced the most while among sector indices, PSU, HC and auto ended on a positive note. Market breadth was positive with 1,553 advances against 473 declines.
 
Nifty was up by 10 points and closed at 6,317. Today we expect the markets to open on a flat to negative note on the back of mixed global cues.
 
US markets ended on a positive note with Dow Jones and Nasdaq up by 0.2 percent and 0.4 percent respectively, as Exxon Mobil Corp. and US Steel Corp. led a commodity rally while investors awaited data on employment and economic growth. This week, US markets will witness data releases on ISM non-manufacturing PMI, advance GDP, unemployment claims, non-farm employment change, unemployment rate and Prelim UoM consumer sentiment.
 
Asian markets are trading negative with Nikkei and Hang Seng down by 0.1 percent and 0.8 percent respectively. SGX Nifty is trading down by 9 points at 6,345.


Indian ADRs ended on a mixed note. Among financial ADRs, ICICI Bank was down by 1.2 percent while HDFC Bank closed flat. Among IT ADRs, Wipro and Infosys were down by 0.5 percent and 0.3 percent respectively. Tata Motors was up by 1.8 percent.

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