Markets are expected to open lower on back of weak cues from the global markets. Nifty futures on the Singapore Exchange have fallen 49 points, at
Markets across Asia retreated from two month highs led by losses in banks after dissapointing earnings on Wall Street as Goldman Sachs, one of largest banks narrowly beat street estimates
China's fourth quarter GDP expanded faster-than-expected at 9.8% from 9.6% a year earlier and consumer prices rose 4.6% versus 4.7% estimated. Raft of data from China failed to lift the indices as investors gauged the impact of recent round of tightening by the government and if it was enough to tame inflation.
Hong Kong's Heng Seng was down 330 points, at 24,089 dragged by losses in financials and property developers. China's Shanghai Composite was up 25 points, at 2,733. Japan's Nikkei Stock Average was off 119 points, at 10,438, financials weighed.
Back in India, technical analysts said markets will continue to remain volatile until Nifty holds above 5710, which also the trend dictating level. Puneet Kinra – Senior Technical Analyst (Equity Research), Bonanza Portfolio said, "Nifty showed good strength in the initial session, however could not cross above resistance of 5750 level. Volatility is likely to continue till Nifty sustains well above 5850 level and also because of upcoming quarterly results." Kinra added, "for daily purpose, trend deciding level is 5710. If Nifty shows strength above 5710 level, then rally to 5750 na d5800 levels may be seen."