Markets weak ahead of CPI, IIP data; Sensex down over 300 points
The Sensex is down 333 points at 27,174 levels and the Nifty has lost 111 points to quote at 8,214
The markets have opened on a weak note tracking weakness in the Asian peers. Also, investors remain cautious ahead of the macro data which will be unveiled later in the day. The government will unveil data on inflation based on the consumer price index (CPI) for April and industrial production (IIP) data for March later in the day.
However, the government's decision to ease its combative stance on MAT demand, accompanied by a decline in global crude oil prices, hopes of a rate cut by Reserve Bank of India and the likelihood of a normal monsoon is likely to dictate the trend on the bourses during the trading session.
The 30-share Sensex is down 333 points at 27,174 levels and the 50-share Nifty has lost 111 points to quote at 8,214.
The benchmark indices had ended yesterday session on a strong note, touching one-week highs, led by strong buying in metal, auto and banking shares.
Among key corporate earnings, Dr Reddy's Laboratories, Ashok Leyland, Central Bank of India, Motherson Sumi Systems, Union Bank of India, Pantaloons Fashion and Vijaya Bank among others will announce their quarter ended 31 March 2015 earnings today.
GLOBAL MARKET
Asian stocks edged lower and the euro sagged on Tuesday as insufficient progress on talks between debt-strapped Greece and its creditors kept investors on edge.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1%. Japan's Nikkei lost 0.3% and South Korea's Kospi dipped 0.1%.
In a closely-watched Eurogroup meeting on Monday, euro zone finance ministers welcomed progress in negotiations between Greece and its creditors but said more work is needed for a cash-for-reform deal.
The US markets ended lower led by Greece’s financial woes, slowing growth in China as well as gains in bond yields.
The Sensex is down 333 points at 27,174 levels and the Nifty has lost 111 points to quote at 8,214
The markets have opened on a weak note tracking weakness in the Asian peers. Also, investors remain cautious ahead of the macro data which will be unveiled later in the day. The government will unveil data on inflation based on the consumer price index (CPI) for April and industrial production (IIP) data for March later in the day.
However, the government's decision to ease its combative stance on MAT demand, accompanied by a decline in global crude oil prices, hopes of a rate cut by Reserve Bank of India and the likelihood of a normal monsoon is likely to dictate the trend on the bourses during the trading session.
The 30-share Sensex is down 333 points at 27,174 levels and the 50-share Nifty has lost 111 points to quote at 8,214.
The benchmark indices had ended yesterday session on a strong note, touching one-week highs, led by strong buying in metal, auto and banking shares.
Among key corporate earnings, Dr Reddy's Laboratories, Ashok Leyland, Central Bank of India, Motherson Sumi Systems, Union Bank of India, Pantaloons Fashion and Vijaya Bank among others will announce their quarter ended 31 March 2015 earnings today.
GLOBAL MARKET
Asian stocks edged lower and the euro sagged on Tuesday as insufficient progress on talks between debt-strapped Greece and its creditors kept investors on edge.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1%. Japan's Nikkei lost 0.3% and South Korea's Kospi dipped 0.1%.
In a closely-watched Eurogroup meeting on Monday, euro zone finance ministers welcomed progress in negotiations between Greece and its creditors but said more work is needed for a cash-for-reform deal.
The US markets ended lower led by Greece’s financial woes, slowing growth in China as well as gains in bond yields.
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