Opening bell: Global cues likely to keep Nifty in red today

The Indian market is expected to open in red today with the SGX Nifty, an indicator of pre-market opening, trading around 8718, down 38 points led by global sell-off.  

 The market extended losses in last hour of trade Tuesday with the Nifty breaking 8700-mark, dragged by index heavyweights like HDFC, Reliance Industries. However, the key indices trimmed losses towards the end.

About 544 shares have advanced, 158 shares declined, and 99 shares are unchanged on the Bombay Stock Exchange. Tata Motors, Larsen & Toubro, Sun Pharma, SBI, ITC, Reliance Industries, Axis Bank, Infosys, ONGC and Cipla gained 0.3-0.9 percent while TCS, M&M, Maruti Suzuki, Hero Motocorp, Coal India, NTPC and BHEL fell 0.5-0.9 percent.

Among global markets, in the US, stocks closed at 1 month lows losing more than 1.5 percent lower pressured by a surge in the dollar and some weakness in oil. Both Dow Jones and S&P 500 breached their 50-day moving average, wiping off their 2015 gains. Meanwhile, the US 10-year treasury yield slid to 2.13 percent.
Meanwhile, the Indian rupee opened marginally lower at 62.83 per dollar today versus 62.76 Tuesday.

Stock Cash Tips for Today:

BUY TATA ELEXI (LCP-1281.35) ABOVE 1285 TG-1293-1302

BUY NATCO PHARMA (LCP 1646.1) ABOVE 1650 TG-1663-1678

BUY MCX (LCP 1208.5) ABOVE 1210 TG-1218-1229

BUY JSW HOLDING (LCP-1160.8) ABOVE 1163 TG-1170-1180

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