Sensex Set for Weak Start Amid Lower Global Markets

Indian stock markets are poised to open weak amid lower global markets. The SGX CNX NIFTY is trading 0.86 per cent lower to 7,759, indicating a lower start for BSE Sensex and Nifty.

Here are top 10 developments:

1) Also impacting the sentiment, rising prices for some food product pushed up India's retail inflation to a four-month high of 5 per cent in October.

2) Though the inflation numbers were below the RBI's estimates of 5.8 per cent by January 2016, analysts do see a possibility of a rate cut from the central bank next month. "In December's policy (meeting, we) do not anticipate a rate cut, because the last 50 bps was essentially was front loading," said Shubhada Rao, Chief Economist, Yes Bank.

3) Industrial production also grew at a slower than expected pace of 3.6 per cent in September, dampened by a slower expansion in the mining sector, data showed. The inflation and factory output data was announced yesterday.

4) Oil & gas and metal stocks are likely to be under pressure amid a tumble in global commodity prices.

5) Copper, which is often seen as a good gauge of the world's economic health because of its extensive industrial use, fell to a six-year low of $4,800 per tonne, breaking below its August trough.

6) Oil prices also fell near 6 1/2-year lows touched in August, when the world's financial markets were gripped by fear of hard landing for the Chinese economy.

7) Banking, DTH, realty and media stocks will be in limelight in the first full session after foreign investment norms were relaxed on Tuesday.

8) Coal India will be in focus as the miner announces its earnings later in the day.

9) In other Asian markets, shares were broadly lower, following an overnight slump on Wall Street. In Japan, the Nikkei was down nearly 0.70 per cent while China markets were marginally lower.

10) Overnight, the Wall Street suffered its worst session in over a month on Thursday as lower commodity prices weighed on energy and materials stocks and comments by a Federal Reserve policymaker hinted at an approaching interest-rate hike.