Indian Indices:
Indian equity benchmarks are likely to witness a gap down opening on Wednesday as a worsening sell-off in oil renewed concerns over the health of the global economy, hitting stock markets worldwide, souring risk taking appetite.
Shares of HCL Technologies, Cadila Healthcare and Emami will be in focus today amid the announcement of their April-June 2016 quarter earnings numbers.
Marking a third straight day in the red, the 30-share Sensex on Tuesday fell by 21.41 points or by 0.08 per cent to 27,981.71 amid GST caution.
Global Market:
Asian shares fell as oil’s renewed slide to below USD 40 per barrel signaled alarm bells over the health of the world economy while Japan’s stimulus package left investors disappointed.
Shanghai Composite was trading flat as China’s services activity slowed in July as the PMI fell from an 11-month high of 52.7 in June to 51.7, with a reading above 50 signaling expansion.
Hang Seng was trading deep in the red while Nikkei 225 declined as traders gave thumbs down to Japanese government’s plan to boost spending by 4.6 trillion yen in the current fiscal year and as a stronger yen curbed the lure for exporter stocks.
Wall Street succumbed to the biggest sell-off in four weeks on Tuesday as plunging crude oil prices and soft consumer spending revived anxiety over global growth outlook.
Major Headlines of the day:
• Sun Pharma gets USFDA nod for diabetes drug Metformin Hydrochloride
• TVS Motors commences manufacturing products for BMW at Hosur facility
• Greenply Ind gets shareholder nod to issue shares via QIP for upto $1 Bn
Trend in FII flows: The FIIs were net buyers of Rs 536.27 Cr in the cash segment on Tuesday while the DIIs were net sellers of Rs -383.23 Cr, as per the provisional figures.
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