Market likely to open lower

Trading for the calendar 2015 is likely to kickstart on a subdued note. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 25 points at the opening bell.

Auto stocks will be in focus as these companies will start unveiling monthly sales volume data for December 2014 from today, 1 January 2015.

Metal stocks may decline after official data showed growth in China's factory sector slowed in December. China is the world's largest consumer of steel, copper and aluminum.

Cadila Healthcare will be watched, With respect to news titled, "Wockhardt, Cadila & Hospira voluntarily recall drugs in US," Cadila Healthcare clarified that the recall by its US-based subsidiary was voluntary and a class-III type recall, which means that the use of the product is not likely to cause any adverse health consequences. There is no material impact, the company added.

India's fiscal deficit was Rs 5.25 trillion ($83.08 billion) during April-November, or 98.9% of the full-year target, data released after market hours yesterday, 31 December 2014, showed. The deficit was 93.9% during the same period a year ago. Fiscal deficit is the difference between earnings and expenditure of the Government. Net tax receipts were at Rs 4.13 trillion ($65.35 billion) in the first eight months of the current fiscal year that ends in March 2015.

The combined Index of Eight Core Industries stood at 166.2 in November 2014, which was 6.7 % higher compared to the index of November 2013, data released after market hours yesterday, 31 December 2014, showed. The Eight Core Industries comprise nearly 38 % of the weight of items included in the Index of Industrial Production (IIP). Its cumulative growth during April to November, 2014-15 was 4.6 %.

Key benchmark indices logged decent gains on last trading session of calendar year 2014 (CY 2014) yesterday, 31 December 2014. The S&P BSE Sensex rose 95.88 points or 0.35% to settle at 27,499.42, its highest closing level since 23 December 2014.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 481.08 crore yesterday, 31 December 2014, as per provisional data.

Most global markets will remain closed today, 1 January 2015, for New Year holiday. Japanese markets are shut from yesterday, 31 December 2014 to Friday, 2 January 2015 and will reopen on Monday, 5 January 2015.

A Chinese manufacturing gauge slipped to the lowest level in 18 months, data released by National Bureau of Statistics today, 1 January 2015 showed. The government's Purchasing Managers' Index fell to 50.1 in December, compared with November's 50.3. Numbers above 50 indicate expansion.

US stocks ended lower yesterday, 31 December 2014 as crude oil prices continued their descent.

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