Indian Indices:
Indian equity benchmarks are likely to witness a gap down opening on Wednesday tracking a sell-off in markets across Asia and a negative finish at Wall Street overnight as a retreat in US consumer confidence, disappointing earnings from Apple Inc. and a renewed slump in oil prices raised concerns over the health of the global economy, curbing risk taking appetite.
Losses in the SGX Nifty Index Futures for October delivery which were trading at 8,665, down by 33 points or 0.38 per cent at 10:30AM Singapore time, signal that the Sensex may open lower today.
Shares of Cadila Healthcare, Canara Bank, Dabur, HDFC, Hindustan Unilver, ITC, JSW Energy and Syndicate Bank will be in focus today as the companies unveil their September quarter earnings.
Telecom giant Bharti Airtel may witness some selling pressure after it on Tuesday in after-market hours reported that consolidated net profit fell 4.9 per cent to Rs. 1,461 crore in Q2 FY 2016-17 from the same period a year ago on increased spectrum costs.
Volatility may remain high at the domestic bourses as traders roll over their positions ahead of tomorrow’s October Futures & Options (F&O) contract expiry.
Losses in Tata Group companies following the ouster of Cyrus Mistry as chairman of salt-to-software conglomerate Tata Sons weighed on domestic bourses on Tuesday as the 30-share Sensex fell 87.66 points or by 0.31 per cent to 28,091.42.
Global Market:
Asian stocks fell after Apple Inc. reported its first annual sales decline since 2001 while oil hit a three-week low on speculation that Russia won’t join the OPEC in planned output cuts.
All three of the Shanghai Composite, Hang Seng and Nikkei 225 were trading in the red.
US stocks fell on Tuesday as a drop in consumer confidence in October and a sell-off in consumer discretionary shares amid tepid earnings from fast food chains to manufacturers of appliances, sports apparel and home-renovation products signaled worries over the economy’s biggest growth engine.
The gauge measuring US consumer confidence fell to a three-month low of 98.6 in October from a revised 103.5 in September.
Trend in FII flows: The FIIs were net buyers of Rs -606.34 Cr in the cash segment on Tuesday while the DIIs were net sellers of Rs 389.11 Cr, as per the provisional figures.
Results Today :
JUBLFOOD, DABUR, RAYMOND, AJANTAPHARMA, EXIDE, JUSTDIAL, HEROMOTO, TORRENTPHARMA, CUMMINSIND, HDFC, ITC, SYNDICATEBANK, HUL, JSWENERGY, CADILA, CANBK, THOMASCOOK.
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