A weak opening on the cards

The market is likely to open on a weak note on dismal global cues. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could slide 65 points at the opening bell.

In overseas markets, Asian markets declined tracking overnight losses in US stocks. US markets closed lower yesterday, 12 November 2015 as a sharp drop in commodities triggered sell-off in shares of energy and raw-material providers. Several speeches from Fed officials yesterday, 12 November 2015 hinted at an interest-rate hike as soon as December 2015.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 11.93 crore yesterday, 12 November 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 10.52 crore yesterday, 12 November 2015, as per provisional data.

Among stock specific activity, Coal India declares its Q2 September 2015 result today, 13 November 2015.

Data released yesterday, 12 November 2015 showed that index of industrial production (IIP) growth moderated to 3.6% in September 2015 over a year ago compared with the revised growth of 6.3% in August 2015. The IIP growth shows an improved from 2.6% growth recorded in September 2014. The output of the manufacturing sector rose 2.6% in September 2015, against 2.6% rise in September 2014. Meanwhile, the mining sector output improved 3% in September 2015, showing acceleration from 0.1% growth in September 2014. The electricity generation also surged 11.4% in September 2015 against 3.9% rise in September 2014.

Another data released yesterday, 12 November 2015 showed that the all-India general CPI inflation increased to four-month high of 5% in October 2015, compared with 4.4% reading in September 2015.

Trading for the Samvat 2072 ended on positive note yesterday, 12 November 2015. The barometer index, the S&P BSE Sensex rose 123.69 points or 0.48% to settle at 25,866.95.

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