Dalal Street is likely to open flat on Monday morning on mixed Asian markets and flattish US cues. Crude Oil is likely to witness a sharp rally as Arctic weather invades US East Coast, threatening to snarl air and ground transportation as holiday travelers scramble to find ways to get home.
Asian markets are trading mixed on Monday morning.
News Bytes
* RCF scanning price asked for Russian mine stake
* Yes Bank asks MFIs to return Rs 100 cr loans
* Manufacturing sector posts high growth in April-Dec: CII
* NMDC likely to hike iron ore prices by 3%
Markets - Look forward to underperforming sectors next year
We believe Infrastructure helped with Realty sectors are likely to lead the rally on the street. With major FIIs turning their heads to these underperforming sectors, we expect Banks and Autos to hand on the baton. Banking sector is unlikely to shine in the next year on account of lower margins.
Nifty should close above 6020 for a bull run. Given the low volume trade, we expect Nifty to again fall back below 6000 levels before expiry.