 "Pre-market 2015: Markets may open lower, auto stocks in focus")
Markets are likely to open lower on the first trading session of the New Year tracking the significant overnight losses on the Wall Street. Indices may edge higher later in the session on the back of core sector growth reaching a five-month high in the month of November at 6.7%.
In 2014, benchmark indices registered their best performance since 2009, gaining for the third straight year, with the Sensex ending the year with a gain of around 30% and Nifty gaining around 31%. The strong market performance is attributed to strong flows into equities globally in general and the stable government at the centre following a landslide victory by Narendra Modi-led BJP government in particular.
Globally, the Sensex was the second best performing index among major nations after China's benchmark share index Shanghai Composite rising nearly 53% in 2014. Foreign institutional investors were net buyers in Indian equities to the tune of $16.07 billion in 2014 till December 30.
Most Asian markets were closed for the New Year holiday while the US markets declined significantly overnight after reversing early gains as the jobless claims rose in the latest week snapping four straight weeks of decline. Dow Jones Industrial Average and Nasdaq Composite indices lost around 0.9% while s&P 500 index declined over 1%.
Stocks to Watch
Auto stocks will be in focus as the monthly sales data for December 2014 will be out later today.
Glenmark Pharma will be in focus after gaining approval from its shareholders to raise Rs 1,890 crore through issuance of securities and to raise the limit on FIIs shareholding from present 40% to 49%.
Bank of Baroda will be in focus after cutting term deposit rates by 15 basis points for deposits maturing between one and three years and by 25 basis points (bps) for deposits maturing after five years.
DB Realty is in focus on media reprts that its projects in prime locations of Mahalaxmi, Marine Lines and Bandra (West) in Mumbai, which were stuck for lack of clearances from state government departments, are expected to get approvals soon.
In 2014, benchmark indices registered their best performance since 2009, gaining for the third straight year, with the Sensex ending the year with a gain of around 30% and Nifty gaining around 31%. The strong market performance is attributed to strong flows into equities globally in general and the stable government at the centre following a landslide victory by Narendra Modi-led BJP government in particular.
Globally, the Sensex was the second best performing index among major nations after China's benchmark share index Shanghai Composite rising nearly 53% in 2014. Foreign institutional investors were net buyers in Indian equities to the tune of $16.07 billion in 2014 till December 30.
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Meanwhile, foreign institutional investors were net buyers in Indian equities worth Rs 481.08 crore on Wednesday, as per provisional stock exchange data.
Most Asian markets were closed for the New Year holiday while the US markets declined significantly overnight after reversing early gains as the jobless claims rose in the latest week snapping four straight weeks of decline. Dow Jones Industrial Average and Nasdaq Composite indices lost around 0.9% while s&P 500 index declined over 1%.
Stocks to Watch
Auto stocks will be in focus as the monthly sales data for December 2014 will be out later today.
Glenmark Pharma will be in focus after gaining approval from its shareholders to raise Rs 1,890 crore through issuance of securities and to raise the limit on FIIs shareholding from present 40% to 49%.
Bank of Baroda will be in focus after cutting term deposit rates by 15 basis points for deposits maturing between one and three years and by 25 basis points (bps) for deposits maturing after five years.
DB Realty is in focus on media reprts that its projects in prime locations of Mahalaxmi, Marine Lines and Bandra (West) in Mumbai, which were stuck for lack of clearances from state government departments, are expected to get approvals soon.