Bearish opening on D-Street: US elections outcome eyed.

Indian Indices:

Indian markets are likely to witness a gap down opening on Wednesday as investors react to the government’s surprise move of withdrawing currency notes of Rs1,000 and Rs500 as it seeks to crackdown on black money. SGX Nifty is trading 305 points lower.

The focus will be on the shares of Cipla, Lupin, J&K Bank, Karnataka Bank, Oriental Bank of Commerce and UCO Bank which will unveil its September quarter earnings today.

Indian shares rose for a second consecutive session on Tuesday as investors were cautiously optimistic that Democrat Hillary Clinton would win the U.S. elections.. The S&P BSE Sensex and CNX Nifty rose 0.48%-0.55% each.

On Tuesday (November 08, 2016), BSE SENSEX closed at 27591.14, up by 132.15 points or by 0.47% and the NSE Nifty ended at 8543.55, gained by 46.50 points or by 0.55%.

Global Market:

Asiam markets fell in Wednesday's choppy session, as polling closed in some US states in the world's most closely watched election of recent times.

European shares edged higher in cautious trading on Tuesday, with encouraging updates from some companies underpinning the broader market on a day when investors stayed focused on the election battle in the United States.

U.S. stocks came off session highs but ended with gains Tuesday as Americans cast their votes in a historic presidential election. Although official results won’t be seen for hours, Wall Street appears to be betting on a Hillary Clinton victory..

Major Headlines of the day:

NTPC confident of achieving 10 GW solar portfolio by 2022

Pfizer wins patent rights for autoimmune diseases' drug

JSW Steel October crude steel output up 31% at 1.34 million tonne

Trend in FII flows: The FIIs were net buyers of Rs 86.66 Cr in the cash segment on Tuesday  while the DIIs were net sellers of Rs 294.06 Cr, as per the provisional figures.

UPCOMING RESULTS:

APOLLOTYRE, BOSCHLTD, CIPLA, DHAMPURSUGAR, EDELWEISS, GODREJPROP, INDIANBANK, JKTYRE, KAKATIYA, KESORAM, LUPIN, MAXINDIA, PIDILITEIND, RAMCOCEM, REC, UCOBANK, UJJIVAN, VIP, ZANDU REALITY, HIKAL, J&K BANK, KTKBANK, ORIENBANK, POWERGRID

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