<p>Negative global trends, coupled with the upcoming third-quarter results and macro-economic data, depressed Indian equity markets during the late-afternoon trade session on Monday.<br /><br />This resulted in the barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) trading flat -- down 33 points.<br /><br />Initially, both the bellwether indices opened on a negative note in sync with their Asian peers and last week's massive falls.<br /><br />Other Asian markets were trading deep in the red after Chinese stocks receded by five percent.<br /><br />However, the bellwether indices pared their losses as investors were attracted by a sizeable number of stocks that were trading at their yearly lows.<br />Apart from value buying, short covering amidst thin volumes led the morning relief rally before markets resumed correction.<br /><br />In addition, investors were hopeful for a better third quarter (Q3) results by India Inc on the back of an economic recovery and low commodity prices.<br /><br />The Q3 earnings results will start coming out from January 12.<br /><br />However, the gains were soon capped by the long-liquidation positions and Friday's US-based data which showed a strengthening jobs market. The data hinted at a potential future rate hike. <br /><br />Another rate hike by the US Fed will lead more FPIs (foreign portfolio investors) away from emerging markets such as India, denting the equity and currency markets.<br /><br />Besides, caution prevailed over the upcoming domestic macro-data on industrial output, and retail inflation. Both the data points are slated to be released on Tuesday.</p>.<p><br />The volatility led barometer S&P BSE Sensex to trade 33 points, or 0.13 percent down.<br />Similarly, the wider NSE Nifty was trading flat. It was lower by 14 points, or 0.18 percent at 7,587.40 points.<br /><br />The Sensex of the S&P BSE, which opened at 24,787.11 points, was trading at 24,901.25 points (at 2.45 p.m.) -- down 33.08 points, or 0.13 percent from the previous day's close at 24,934.33 points.<br /><br />The Sensex has so far touched a high of 24,961.88 points and a low of 24,598.90 points in intra-day trade.<br /><br />The S&P BSE market breadth favoured the bears -- with 1,464 declines and 1,246 advances.<br /><br />The Sensex had closed the previous session on January 8, with a staggering fall of 1,226.57 points or 4.68 percent, while the Nifty was lower by 361.85 points, or 4.54 percent.<br /><br />The rout even drowned the scrips of 123 companies to their 52-week lows since the start of 2016. <br /><br />"The slide in the Chinese markets, last week's falls and some profit bookings made on Friday's relief rally capped the gains," Anand James, co-head, technical research desk with Geojit BNP Paribas Financial Services, told IANS. <br /><br />"Investors were seen reluctant to chase prices higher due to the upcoming inflation data and prevailing global uncertainties."<br /><br />Nitasha Shankar, vice president for research with YES Securities, elaborated that global markets continued to see selling pressure leading to weakness in Indian markets.<br />"Broader markets are also declining in line with the headline index. All major sectoral indices are trading in the red barring the auto index," Shankar noted.<br /><br />"PSU (public sector undertaking) banks continue to bleed with deep cuts of two percent."<br /></p>
<p>Negative global trends, coupled with the upcoming third-quarter results and macro-economic data, depressed Indian equity markets during the late-afternoon trade session on Monday.<br /><br />This resulted in the barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) trading flat -- down 33 points.<br /><br />Initially, both the bellwether indices opened on a negative note in sync with their Asian peers and last week's massive falls.<br /><br />Other Asian markets were trading deep in the red after Chinese stocks receded by five percent.<br /><br />However, the bellwether indices pared their losses as investors were attracted by a sizeable number of stocks that were trading at their yearly lows.<br />Apart from value buying, short covering amidst thin volumes led the morning relief rally before markets resumed correction.<br /><br />In addition, investors were hopeful for a better third quarter (Q3) results by India Inc on the back of an economic recovery and low commodity prices.<br /><br />The Q3 earnings results will start coming out from January 12.<br /><br />However, the gains were soon capped by the long-liquidation positions and Friday's US-based data which showed a strengthening jobs market. The data hinted at a potential future rate hike. <br /><br />Another rate hike by the US Fed will lead more FPIs (foreign portfolio investors) away from emerging markets such as India, denting the equity and currency markets.<br /><br />Besides, caution prevailed over the upcoming domestic macro-data on industrial output, and retail inflation. Both the data points are slated to be released on Tuesday.</p>.<p><br />The volatility led barometer S&P BSE Sensex to trade 33 points, or 0.13 percent down.<br />Similarly, the wider NSE Nifty was trading flat. It was lower by 14 points, or 0.18 percent at 7,587.40 points.<br /><br />The Sensex of the S&P BSE, which opened at 24,787.11 points, was trading at 24,901.25 points (at 2.45 p.m.) -- down 33.08 points, or 0.13 percent from the previous day's close at 24,934.33 points.<br /><br />The Sensex has so far touched a high of 24,961.88 points and a low of 24,598.90 points in intra-day trade.<br /><br />The S&P BSE market breadth favoured the bears -- with 1,464 declines and 1,246 advances.<br /><br />The Sensex had closed the previous session on January 8, with a staggering fall of 1,226.57 points or 4.68 percent, while the Nifty was lower by 361.85 points, or 4.54 percent.<br /><br />The rout even drowned the scrips of 123 companies to their 52-week lows since the start of 2016. <br /><br />"The slide in the Chinese markets, last week's falls and some profit bookings made on Friday's relief rally capped the gains," Anand James, co-head, technical research desk with Geojit BNP Paribas Financial Services, told IANS. <br /><br />"Investors were seen reluctant to chase prices higher due to the upcoming inflation data and prevailing global uncertainties."<br /><br />Nitasha Shankar, vice president for research with YES Securities, elaborated that global markets continued to see selling pressure leading to weakness in Indian markets.<br />"Broader markets are also declining in line with the headline index. All major sectoral indices are trading in the red barring the auto index," Shankar noted.<br /><br />"PSU (public sector undertaking) banks continue to bleed with deep cuts of two percent."<br /></p>