 "Markets likely to open lower on weak Asian cues")
Benchmark share indices are likely to open lower on Monday amid weak Asian cues with auto stocks in focus post their December 2015 sales numbers.
At 8:30am, the early indicator SGX Nifty was down 32 points at 7,917.
"The Indian markets are expected to open with a negative note tracking global cues. Asian markets were trading lower. Nifty resistance is seen at 7974 above 7996 and 8010. Support for the Nifty is seen at 7936 below 7914, 7901 and 7876," Geojit BNP Paribas Financial Services said in a note.
Foreign institutional investors were net buyers in equities worth Rs 228 crore on Friday, as per provisional stock exchange data.
Markit Economics is scheduled to release Nikkei India Purchasing Managers' Index (PMI) for December 2015 later today.
GLOBAL MARKETS
Asian markets witnessed a sell-off after weak December PMI from China dampened investors sentiment. The Shanghai Composite was down 3.4% while Japan's Nikkei was down 2.7%. Among other major stock indices in the region, Straits Times was down 1.4% while Hang Seng eased 2.1%.
US markets ended the last trading day of 2015 on weak note with Dow Jones ending 1% lower at 17,425 while the broader S&P 500 ended down 0.9% at 2,044.
STOCKS IN FOCUS
Auto stocks will be in focus after they announced their December sales numbers. Ashok Leyland, TVS Motor and Eicher Motors are likely to gain post their encouraging sales numbers while Hero MotoCorp is likely to be under pressure on subdued December sales.
SAIL will be in focus amid reports that the state-owned steel major signed a Rs 5,000-crore joint venture with global steel company ArcelorMittal for setting up a steel plant.
IRB Infrastructure is likely to surge after the company received the biggest National Highway Project in terms of project cost. The company has bagged a letter of award from the government to construct,operate and maintain the Zozila Tunnel in the state oj Jammu & Kashmir. The estimated project cost is approximately Rs 10,050 crore.
Coal India is likely to be in focus after the company reported higher production in December 2015 at 52.07 mt against a target of 51.08 mt. However, offtake for the month was lower at 48.16 mt against a target of 49.46 mt.
IDBI Bank may see some action amid reports that the state-owned bank has raised Rs 900 crore by way of issuing Basel-III compliant Tier-II bonds.
