Markets expected to open down on account of weak global cues & Repo Rate & CRR hike announced by RBI yesterday

Markets expected to open down on account of weak global cues & Repo Rate & CRR hike announced by RBI yesterday The bears continued to dominate the Indian Markets on Tuesday, as the BSE Sensex closed on a weak note at 14106.6, down by 1.3% over Monday's close. The Nifty opened at 4271 & made an intra-day high of 4305.3. However it started showing signs of weakness at those levels & slipped in the negative terrain. It corrected through the day, making an intra-day low of 4156.1 towards the end before it managed to close at 4191.1, down by 1.8% over Monday's close. The NSE cash turnover stood at Rs. 11769 crores in comparison to Rs. 11239 crores on Monday. The market breadth was negative on BSE with the advance-decline ratio of nearly 0.37:1. All the sectoral indices ended in the red with Metals, PSU & FMCG indices being the major losers, which fell by 3.5%, 2.8% & 2.5% respectively. U.S. stocks fell on Tuesday, on concerns about the economy after a report showed consumer confidence hit a 16-year low and as a profit warning from United Parcel Service stoked fears about corporate results. Dow Jones closed down by 0.3%, while Nasdaq closed down by 0.7%. Most of the Indian ADRs ended lower with Infosys & Wipro decreasing by 2.4% & 1% respectively, while Satyam increased marginally by 0.1%. ICICI & HDFC Bank decreased by 3.8% & 3.4% respectively. Tata Communication & MTNL decreased by 4.3% & 2.4% respectively. However Dr. Reddy's was up by 1.4%. Among the Latin American markets, the Mexican market decreased by 0.6%, while Brazilian market closed down by 0.7%. Among the metal prices, Aluminium & Copper decreased by 0.5% each, while Zinc & Nickel decreased by 0.9% & 1.8% respectively. The light crude oil for July increased marginally by 0.2% to settle at $137 a barrel. Today, the Asian Markets are trading mix with Nikkei & Hang Seng trading down by 1.5% & 1.1% respectively. However Shanghai is up by 2.7%. On Monday, the FIIs were net sellers of Rs. 621 crores in the cash market, while Mutual Funds were net buyers of Rs. 36 crores. As per the provisional figures, FIIs were net buyers of Rs. 90 crores in the cash market on Tuesday, while they were net sellers of Rs. 1086 crores in the F&O markets. Today, we expect the Markets to open down on account of weak global cues. Also the RBI yesterday hiked the Repo Rate & CRR by 50 basis points, which could have a negative impact on markets initially. However, this was partly expected / discounted in the prices earlier. Among the indices, Metals, FMCG & IT indices are looking weak. Visit site at – http://investorline.co.in/ Newsroom - http://newsroom.investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Journal - http://research.investorline.co.in/ Investor Forums- http://forums.investorline.co.in/