Sensex weaked Amid Lower Asian Markets

Indian markets are poised to open sharply lower amid weak Asian stocks. The Nifty futures on the Singapore index were trading 1 per cent lower at 7,521, indicating a weak opening for Sensex and Nifty.

Asian markets were mostly lower today with China’s Shanghai Composite falling 1.4 per cent.

The rupee would be closely watched today. The Indian currency fell to 66.92/dollar against Friday’s close of 66.63. The US reported strong job numbers for December, a development that could lead to a broad rise in dollar amid expectations of a Fed rate hike in March.

A tumble in Chinese markets had led to a global selloff last week with Nifty slumping 4.5 per cent during the week.

Foreign investors sold Indian stocks worth nearly Rs 3,000 crore last week on a net basis, weighing on Indian markets.

Domestic institutional investors bought Indian equities worth nearly Rs 1,350 crore providing some support.

However, Indian markets could rebound sharply, they say, if third-quarter earnings of Indian corporates surprise on the upside and there are positive developments on the GST front.

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Source:Ndtv

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