India : Markets may trade with a negative bias

Indian benchmark indices got off to a steady start, and thereafter indices slipped into negative territory, continuing to trade in a choppy range throughout the trading session. Finally, the NSE’s 50-share broadly followed index, Nifty, took a cut of around two tens of a per cent to settle below the crucial 8,950 support level; while Bombay Stock Exchange’s Sensitive Index, Sensex slipped by around fifty points and closed tad below the psychological 29,000 mark.The majority of the European markets ended Tuesday’s session in the red. A disappointing German factory orders report and continued political concerns in France weighed on investor sentiments. Additionally, investors remained cautious ahead of the European Central Bank policy decision due on Thursday. The DAX of Germany gained 0.06 per cent, but the CAC 40 of France fell 0.35 per cent. The FTSE 100 of the U.K. declined 0.15 per cent. U.S stocks fell on Tuesday, driven by losses in the energy, telecom and health-care sectors. The Dow Jones Industrial Average lost 30 points, the Nasdaq Composite shed 15 points and the S&P 500 ended down 7 points.Asian shares are trading with negative bias on Wednesday. Japan’s Nikkei 225 lost 0.52 per cent. Hong Kong’s Hang Seng is trading flat and Shanghai Composite slipped 0.13 per cent.At 8:04 am, SGX Nifty index was trading flat with losses of 10 points at 8,972, indicating a negative start for Indian equities.