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Pre Market Statistics:
The Indian markets are expected to open negative on the back of weak global cues. The domestic markets fell sharply on Friday as selling pressure was generated on the back of weak global and domestic cues. The deepening economic downturn in Europe triggered sharp selling in global stocks as investors cut their exposure to risky assets. On the domestic front, a falling rupee added to the pessimism in the markets. Selling pressure also strengthened after the Finance Ministry said it is reviewing its tax treaty with Mauritius. The Sensex fell by 320.1 points or 1.9% to 16831.1 while the Nifty fell to 5086.9, down 101.6 points or by 2.0%. The Sensex has supports at 16570 and 16430 and resistances at 16830 and 17010. The Nifty has supports at 5000 and 4970 and resistances at 5050 and 5085.
Market outlook — Open negative on weak global cues
Negative — Continuous fall of rupee
News: Idea Cellular, Tata Communications
The US markets on Friday moves sharply lower over the course of the trading day on Friday on the back of disappointing jobs data. The weakness on Wall Street was on the back of the release of a report from the Labour Department showing weaker than expected job growth in April. Traders, however, shrugged off upward revisions to job growth in the last two months. The Dow slid 168.3 points or 1.3% to 13,038.3, the Nasdaq plunged 68.0 points or 2.3% to 2,956.3 and the S&P 500 fell 22.5 points or 1.6% to 1,369.10.
http://t.in.com/7lo0...
