Markets may open lower; Sun Pharma, ITC, ICICI Bank in focus

Markets are likely to open lower tracking losses in their Asian peers and sharp overnight decline on Wall Street.

At 8:20AM, the early indicator SGX Nifty was down 30 points at 8,452.

Markets are also likely to react to the current account data (CAD) which at 2.1% of the GDP for the July-September quarter is higher compared to same quarter last fiscal when the figure was 1.2%.

Meanwhile, foreign institutional investors were net buyers in Indian equities worth Rs 4,984.60 crore on Monday, as per provisional stock exchange data.

Asian markets have opened lower. Nikkei index has lost around 0.3% while the Shanghai Composite and the Hang Seng indices have declined by 0.2% and 1% each.

Overnight, US markets ended lower dragged by losses in energy shares as crude oil prices dropped down to a five-year low. Worries about global growth also dampened sentiments. Data showed China's exports grew at a slower-than-expected pace and imports dropped in November, while Japan's economy shrank more than expected in the third quarter.

The Dow Jones industrial average declined 0.6% to 17,852.48, the S&P 500 ended lower by 0.7% to 2,060.31 and the Nasdaq Composite lost 0.8%, to 4,740.69.

ITC Limited

ICICI Bank