Market opening: Sensex, Nifty open flat, looking weak

Market closed red on Wednesday amid weak global sentiments and impacted market indices on Thursday too. The BSE Sensex opened flat at a rise of 28.52 points to 35,920, whereas NSE Nifty 50 started 2.20 points down at 10,790 in the morning, due to weak trading in global indices overnight. 

The Sensex, on Wednesday closed at 35,891.72, jumping 363 points or 1 per cent down. While Nifty fell 117 points or 1.1 per cent to close at 10,792.50. 

The rupee opened further weak for a second consecutive session, down by 12 paise to 70.29 against US dollar, even as crude oil recovered further. The Brent crude took a sharp rise of 2.1 per cent to trade at $54.5 per barrel on Wednesday.

Kunal Saraogi CEO, Equity Rush told Zee Business Online that "Chances of recovery in the US and Asian markets sending strong signals, the domestic markets will have a positive trend in a new year after January 7."

Cabinet meeting to take major decisions like interest subsidies for export merchants, restructuring of National Health Agency etc is likely to impact trade in coming weeks. All the major sectors closed red on Wednesday. The GST collection for December 2018 was Rs 94,000 crores lower from the last month.

However the gobal indices were traded in a mix as, the Dow Jones surged 18 points, or 0.08 percent, to 23,346.24, the S&P 500 gained 3.20 points, or 0.13 percent, to 2,510 and the Nasdaq closed up by 30 points, or 0.5 percent, to 6,665. The European markets were trading with a 0.20 per cent also jumped as DAX was at 10,580.20.

Stock in news:

BOB\Dena Bank\Vijaya Bank: Approval of merger of all the three banks

Housing finance\builder companies: RERA council meeting today, change in "Removal of Difficulties" order.

Telecom companies: Data of subscribers of October 2018 out, Jio added 1 crore subscribers, while others lost over 70 lakh each.

Dairy companies: Milk is likely to get Rs 2 per litre costilier after 6th march.

Agriculture shares: Government is likely to put Rs 4,000 per acre per season DBT. farmers can get Rs 1 lakh loan with no interest. 

Triveni Turbine: Nalanda India Fund sold 51.5 lakh shares.

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सरकार किसानों को और राहत देने की तैयारी में है, ये प्रलोभन किसानों के लिए कितना अच्छा और क्या बाज़ार के लिए खराब है, समझते हैं अनिल सिंघवी से #EditorsTake में।@AnilSinghviZEE @dkalra81 pic.twitter.com/t0PE2ZnUyH

— Zee Business (@ZeeBusiness) January 3, 2019

Strong global cues, hope for trade settlement between U.S and China, easing tensions between White House and Federal Reserve and positive opening of Asian markets is likely to support domestic markets in upcoming days. However, there may be a major impact on markets in coming weeks because of the setback to the economy over the bad news on fiscal deficit between April to November, low GST collection amid further liquidity infusion into the banking sector.