The Shanghai Composite declined by 0.75% at 2,685.15. Chinese stocks fell after the country's Conference Board stated that a leading indicator in China signals a likely slowdown in the country"s economic growth due to weakening of export demand. Further, the Japanese Nikkei225 declined by 0.84% at 9,494.15 after reports stating that the economic recovery in US is slowing down. Further, the Hang Seng, Seoul Composite and Taiwan Weighted declined by 1.27%, 1.60% and 1.37%, respectively.
The domestic arena, the markets are likely to open on a bearish note following the weakness among the Asian peers together with the negative start for the SGX Nifty. All eyes will be on RBI's stance on rate hike during today's policy review meet, which is expected to give a direction to the market. The Realty, Metal, Banking and Auto space will be in focus during today's trade.
Today, Nifty will face a resistance near 5,500 level and will have a support near the 5,420 mark.
On Wednesday, the domestic bourses ended on a bearish note as the participants remained cautious ahead of the RBI policy meet tomorrow. After opening in the negative terrain, the benchmark indices were seen trading rangebound. However, post mid-session, the market started dragging further and continued making fresh intraday lows.
The rate sensitive sectors including Banking, Realty and Metal space looked nervous during the session as the investors remained skeptical regarding RBI"s move in tomorrow"s policy meet after yesterday"s disappointing inflation figures. Banking majors like SBI and ICICI Bank lost more than 2% each during today"s trade. Sensex heavyweight Reliance Industries plunged by 1.40%, building pressure on the domestic front. Finally, the benchmarks were seen closing near their session lows.
The BSE Sensex closed at 18,132.24, down by 176.42 points or by 0.96% and the NSE Nifty closed at 5,447.50, down by 53.00 points or by 0.96%. The BSE Midcap was at 6,920.81 down by 38.29 points or by 0.55%, whereas the BSE SmallCap closed at 8,294.89, down by 49.40 points or by 0.59%. The BSE Sensex touched intraday high of 18,308.69 and intraday low of 18,111.21.
On Wednesday, the U.S. markets closed on a bearish note as broadbased selling across sectors dragged the stocks to a fresh three month low. The previous session"s gains were wiped off completely as the greenback gained strength against the euro on the backdrop of concerns over the fiscal instability and social unrest in Greece. The sentiment was further dampened amidst a flurry of disappointing economic data.
The May CPI figures read a higher than expected increase of 0.2% in overall consumer prices. Besides, the Empire Manufacturing Survey data for June came in at -7.8, which contrasts sharply with the economists" estimation of 10.0. Additionally, the industrial production for May increased by a mere 0.1%, lower than the street expectations of 0.2%. All the sectorial indices were seen finishing off the session on a downbeat note with the Materials, Energy and Financials shedding off more than 2% each.
In the major indices, the Dow Jones Industrial Average (DJIA) closed with a loss of 178.84 or 1.48% at 11,897.27 while NASDAQ index finished down by 47.26 points or 1.76% to 2,631.46. The S&P 500 (SPX) closed lower by 22.45 points or 1.74% to 1,265.42.
The FIIs on Wednesday stood as net seller in both equity and debt. Gross equity purchased stood at Rs. 3436.10 crore and gross debt purchased stood at Rs. 1192.20 crore, while the gross equity sold stood at Rs. 3809.40 crore and gross debt sold stood at Rs. 1401.20 crore. Therefore, the net investment of equity and debt reported were Rs. (373.30) crore and Rs. (209.00) crore, respectively.
Top traded volumes on NSE Nifty - IDFC 13254311, ITC 5411253, Reliance Communications 3425017, Tata Motors 3376870 and DLF 3247956.
On BSE, total number of shares traded was 24.89 crore and total turnover stood at Rs. 2,676.87 crore. On NSE, total number of shares traded was 53.55 crore and total turnover stood at Rs. 9655.66 crore.
In the NSE Futures and Options segment, total number of contracts traded in index futures was 379683 with a total turnover of Rs. 9680.39 crore. Along with this total number of contracts traded in stock futures were 418063 with a total turnover of Rs. 10617.90 crore. Total numbers of contracts for index options were 2188374 with a total turnover of Rs. 60603.44 crore and total number of contracts for stock options was 117922 with a total turnover of Rs. 2984.29 crore.