INDIAN BENCHMARKS are tipped to extend Monday’s losses and open lower today tracking a bearish global trend while a continued exodus of foreign investors amid concerns that the BJP’s loss in Bihar may crimp its ability to push through key reforms such as GST to bolster Asia’s third biggest economy, may also sour sentiment at Dalal Street.
SGX Nifty is trading 32.50 points lower.
Volatility may remain high at the domestic bourses ahead of the expiry of the November Futures & Options ( F&O) contracts on Thursday, while caution ahead of the start of the Winter Session of Parliament from Thursday may also weigh on the Sensex. Shares of PSU banks may see some positive trade after Finance Minister Arun Jaitley vowed measures to relieve stress of state-run lenders that are battling high NPAs. Indian stocks edged lower on Monday, swinging between minor gains and losses for most of the session as sentiment turned cautious ahead of the expiry of derivative contracts in a holiday-shortened week. The S&P BSE Sensex and CNX Nifty ended 0.19% and 0.09% lower each. On Monday (November 23, 2015) Snapping a two-day run of gains, the 30-share Sensex fell by 49.15 points or by 0.19% to end at 25,819.34 while the NSE Nifty closed at 7,849.25, down by 7.3 points or by 0.09.
Major Headlines of the day:
• Tata Communications renegotiating Neotel sell-off.
• NPPA exempts Wockhardt's 3 insulin products from price control.
• Nestle India resumes Maggi production in Uttarakhand.
Trend in FII flows: The FIIs were net sellers of Rs -35.37 Cr in the cash segment on Tuesday while the DIIs were net buyers of Rs 90.28 Cr, as per the provisional figures released by the NSE.
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