Markets Eyes Fourth Quarter Results

The Global markets give out negative cues this morning. U.S. stocks tumbled, with benchmark indexes slumping the most since February, as a bigger-than- estimated decrease in consumer credit and concern Greece may default fueled concern the economic rebound may slow. European stocks declined from the highest level since September 2008 as a retreat by basic- resource producers and Greek banks overshadowed gains among retailers and financial-services companies. This morning Asian stocks fell for the first time in six days, led by mining companies and automakers, after U.S. consumer credit and Japanese machinery orders reports missed economist estimates. In commodities crude oil declined for a second day after a government report yesterday showed a bigger-than-forecast inventory gain in the U.S., the world’s largest energy consumer. Gold dropped for the first time in four days as a stronger dollar and the metal’s rally to a three- month high encouraged selling. The Indian markets taking cues from its global peer’s trades in the negative territory. Most of the sectoral indices trade in red this morning. The main draggers this morning are the Banking, Metal and Capital Goods indices. Some positive support is provided by the Realty and Consumer Durables indices to the market. Market breadth is positive with 1,492 advances against 889 declines. The Sensex trades in red at 17,920.62 declining 49.40 points or 0.27 percentage points. Nifty trades at 5359.80 declining 14.85 points or 0.28 percentage points. The markets are likely to remain volatile and take cues from the forthcoming fourth quarter results.

Source: Dalal Street Investment Journal

In todays market closing sensex, nifty, bank nifty all closes on a positive note with bank nifty up by 235 points.Market never follows a regular pattern and its is really difficult to make accurate predictions on its movements. Traders fear to trade in market because of this reason often.