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Cues to watch for in trade on January 14, 2014
Markets are expected to open lower as the US markets saw a sell-off in trade on Monday. Comments by the Atlanta Federal Reserve President that the Fed would continue to taper should all go as expected saw a sharp sell-off in the US markets.
The SGX Nifty is lower by 40 points. The Japanese Nikkei is seeing a cut of 2.43 per cent and the Hong Kong's Hang Sang is down more than 1 per cent.
In stocks to watch out for, technology stocks would once again be in focus as most of the stocks hit52-week highs in trading on Monday. Yes Bank would also be in focus after the bank is set to announce its quarterly results on Wednesday.
Ranbaxy may continue to remain volatile after US FDA concerns over one of its plants. Banks should also be in focus after CPI inflation numbers were weaker than expected. Weaker inflation numbers will raise hopes that the RBI may continue to keep interest rates on hold.
The Lupin stock may come under some selling pressure after the FIPB deferred FDI plans due to lack of clarity.
Overall, markets are expected to trade lower today, due to weak global cues.
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