 "Pre-market: Gapdown opening likely")
Markets are likely to see a gap down opening following weak global cues after the Federal Reserve announced another $10 billion cut in its monthly bond purchases. Also, volatility is likely to be the order of the day ahead of January F&O expiry due today.
The SGX Nifty was down 91 points at 6,030 at 0825 hrs.
In Asia, shares took a spill on Thursday as strains in emerging markets returned with a vengeance and the Federal Reserve further scaled back its stimulus - sending investors scurrying to safety in bonds and yen.
While analysts emphasised that January data is heavily distorted by the timing of the Chinese Lunar holidays, the drop in the HSBC PMI was bound to cause ripples in already skittish markets.
Japan's Nikkei was already down 3.1% at its lowest since mid-November. Shanghai slipped 0.5% while MSCI's broadest index of Asia-Pacific shares outside Japan lost 1%.
Overnight, U.S. stocks dropped more than 1% on Wednesday, hitting session lows after the Federal Reserve stuck with its plan to scale back stimulus even in the midst of emerging market turmoil.
With the day's decline, the S&P 500 is down 4% for the month - its worst monthly loss since May 2012. Some investors have been bracing for a correction, given the S&P 500's gain of 30% last year.
Trading was volatile after the Fed's move, which further reduces its monthly bond purchases by $10 billion a month.
The Dow Jones industrial average fell 1.19%, to end at 15,739. The S&P 500 lost 1.02%, to finish at 1,774. The Nasdaq Composite dropped 1.14%, to close at 4,051.
Stocks to Watch
Hero MotoCorp, JSW Energy, Siemens, Voltas, Trent and Bank of India are some of teh companies expected to announce their Q3 numbers.
The SGX Nifty was down 91 points at 6,030 at 0825 hrs.
In Asia, shares took a spill on Thursday as strains in emerging markets returned with a vengeance and the Federal Reserve further scaled back its stimulus - sending investors scurrying to safety in bonds and yen.
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Adding insult to injury, a measure of Chinese manufacturing slipped to a six month low for January and gave speculators a fresh excuse to target risk assets such as the Australian dollar.
While analysts emphasised that January data is heavily distorted by the timing of the Chinese Lunar holidays, the drop in the HSBC PMI was bound to cause ripples in already skittish markets.
Japan's Nikkei was already down 3.1% at its lowest since mid-November. Shanghai slipped 0.5% while MSCI's broadest index of Asia-Pacific shares outside Japan lost 1%.
Overnight, U.S. stocks dropped more than 1% on Wednesday, hitting session lows after the Federal Reserve stuck with its plan to scale back stimulus even in the midst of emerging market turmoil.
With the day's decline, the S&P 500 is down 4% for the month - its worst monthly loss since May 2012. Some investors have been bracing for a correction, given the S&P 500's gain of 30% last year.
Trading was volatile after the Fed's move, which further reduces its monthly bond purchases by $10 billion a month.
The Dow Jones industrial average fell 1.19%, to end at 15,739. The S&P 500 lost 1.02%, to finish at 1,774. The Nasdaq Composite dropped 1.14%, to close at 4,051.
Stocks to Watch
Hero MotoCorp, JSW Energy, Siemens, Voltas, Trent and Bank of India are some of teh companies expected to announce their Q3 numbers.