Pre-market: Market to open lower on global cues

Key indices are expected to open lower tracking the SGX Nifty today

After closing at lowest levels in 2 weeks, key benchmarks indices of frontline stocks are expected to open lower tracking the Nifty futures at the Singapore Stock Exchange (SGX Nifty). Also, weakness in global markets could weigh on the sentiment.

A day earlier the HSBC India Manufacturing Purchasing Managers Index fell to 50.7 in December from 51.3 in November weighing on the sentiment yesterday.

Market regulator Securities and Exchange Board of India (SEBI) said that it will focus on strengthening insider trading mechanism and risk management system on the exchanges. Chariman UK Sinha also said that the regulator plans to introduce final guidelines for research analysts, for which it had issued draft norms

Prime Minister (PM) Manmohan Singh's address to media today is likely to be in focus. PM is likely to speak on United Progressive Alliance's (UPA's) achievements and will probably shed the policy paralysis perception that UPA-II has become synonmous with, said analysts.
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Asian share markets were under water on Friday after a sudden reversal in some very popular, and thus crowded, trades sparked a bout of global risk aversion. The net result was a pullback in the euro, sterling, and stocks and a bounce for the yen, gold and bonds. Oil prices had also taken a spill, though for purely idiosyncratic reasons.

MSCI's broadest index of Asia-Pacific shares outside Japan shed a sharp 1.3%, with markets from Shanghai to Sydney all in the red.

China's official purchasing managers' index (PMI) for the non-manufacturing sector dipped to 54.6 in December from 56.0 the previous month, the National Bureau of Statistics (NBS) said on Friday, mirroring a slowdown in manufacturing activity growth.

A reading above 50 indicates activity in the sector is accelerating, while one below 50 indicates it is slowing.

Metal stocks would be in focus as India is a big exporter of metal ores to Beijing.

US Market and global outlook

US stocks fell on their first day of trading in 2014 as investors booked profits in the wake of the S&P 500's best yearly advance since 1997, with many of last year's strongest performers down on the day. All 10 S&P 500 sectors were lower, with tech among the biggest drags after Wells Fargo downgraded Apple Inc to "market perform" from "outperform," saying the company's market cap had limited upside potential without material market share gains.

The Dow Jones industrial average was down 135.31 points, or 0.82%, at 16,441.35. The Standard & Poor's 500 Index was down 16.38 points, or 0.89%, at 1,831.98. The Nasdaq Composite Index was down 33.52 points, or 0.80%, at 4,143.07.

The S&P closed 2013 with a 29.6% gain for the year, its best annual performance since 1997. The Dow surged 26.5% in its best year since 1995. The Nasdaq jumped 38.3%, its best year since 2009.

Apple fell 1.4% to $553.13 and was the biggest drag on both the S&P 500 and Nasdaq 100 indexes. The S&P technology index fell 1.1%.

In the latest economic data from US, weekly initial claims slipped for a second straight week while financial data firm Markit said its final US Manufacturing Purchasing Managers Index rose in December. Separately, an index of US factory activity stood at 57.0 last month, in line with forecasts but below November's reading.

Market participants world over will now be keenly watching a spate of speeches from top US Federal Reserve policy makers later Friday, including outgoing Chairman Ben Bernanke. Any comments on the outlook for tapering could affect market sentiment
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Shares in focus

Tata Motors’ total sales (ex exports) in the commercial and passenger vehicles category in December 2013 were 37,852 vehicles.

Coromandel Engg will consider rights share issue.

Ind. swift will consider allotment of equity shares.

LAKSHMI VILAS BANK to consider rights share issue.

 PRISM INFORMATICS to consider issue of non-cumulative compulsorily convertible preference shares.