Market Beeps - Market seen opening weak; Auto stocks in focus

[UAE Exchange Etrade]

Dear Sir/Madam,

Greetings from UAE Exchange.

Markets are expected to open on a negative note tracking weak Asian markets.

Global risk appetite was frail after US manufacfurig data grew at a lowest pace in three months raising concerns over growth recovery in the world's biggest economy.

Asian shares traded lower with Japan's Nikkei declining 2% to 11,902.31 and  Shanghai Composite index was down 0.1% to 2,234.

Overnight US markets ended lower with Dw Jones falling 6 points to 14572.85 while Nasdaq shedding 28 points to 3239.

For the  the S&P is up 9.5%, the Dow is up 11.2% and the Nasdaq is up 7.3%.

Stocks in News:

The country’s largest two-wheeler maker, Hero MotoCorp, on Monday said it had commenced operations in Africa, Latin and Central America.

Stocks in the power sector may mover after the Reserve Bank of India (RBI) has agreed to a coupon rate of 8.9 per cent for the bonds to be issued by state power distribution companies (discoms) under the central government-sponsored debt recast scheme, which has so far not cut much ice with states

Happy Trading & Good Day.