Market may slide on weak Asian cues

Market may edge lower in early trade tracking losses on Asian bourses. Trading of Nifty 50 futures on the Singapore stock exchange indicated that the Nifty could fall 38 points at the opening bell.

In overseas markets, China led decline in Asian markets today, 4 January 2016 after the latest data showed that the Caixin China manufacturing purchasing managers' index (PMI), a private gauge of nationwide factory activity, declined to 48.2 in December 2015 from 48.6 in November 2015. A reading below 50 indicates contraction. In China, the Shanghai Composite index was off 2.96%. US stock markets were shut on Friday, 1 January 2016, on account of New Year Day Holiday.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 228.11 crore during previous trading session on Friday, 1 January 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 81.24 crore during previous trading session on Friday, 1 January 2016, as per provisional data.

Tata Motors after market hours on Friday, 1 January 2016 said that its total sales of Tata Motor passenger and commercial vehicles declined 4% to 39,973 units in December 2015 over December 2014. Domestic sale of Tata commercial and passenger vehicles fell 6% to 35,416 units in December 2015 over December 2014. Exports rose 15% to 4,557 units in December 2015 over December 2014.

Hero MotoCorp (HMCL) after market hours on Friday, 1 January 2016 said that its total two-wheeler sales declined 5.13% to 4.99 lakh units in December 2015 over December 2014.

Coal India and its subsidiaries on provisional basis achieved 102% of targeted production at 52.07 million tonnes in December 2015. Coal India and its subsidiaries on provisional basis achieved 97% of targeted offtake at 48.16 million tonnes in December 2015. The announcement was made after market hours on Friday, 1 January 2016.

Among macro data, Markit Economics will unveil the outcome of a monthly survey on India's manufacturing sector for December 2015 at 10:30 IST today, 4 January 2016. The seasonally adjusted Nikkei India Manufacturing Purchasing Managers' Index (PMI) fell to a 25-month low of 50.3 in November 2015. The reading of 50 separates contraction from expansion.

Trading for the year 2016 began on a positive note on Friday, 1 January 2016, as key benchmark indices settled slightly higher after a volatile session of trade. The Sensex rose 43.36 points or 0.17% to settle at 26,160.90, its highest closing level since 1 December 2015.

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