Indian benchmark indices are likely to open lower on Tuesday, tracking bearish cues from Nifty futures on the Singapore Stock Exchange and weak trend across global peers. Markets across Asia were trading lower following weak closing of the Wall Street in overnight trade.
SGX Nifty is trading at 10390 down by 10 points.
Equity benchmark ended at record closing highs led by index heavy weights like Reliance industries and Hdfc bank. Sensex closed up by 109 points at 33266 and Nifty closed up by 40 points at 10364. It was a day of broader markets as the Midcap and Smallcap indices rallied more than 1%.
Wall Street pulled back from record-high territory on Monday, weighed down by a drop in Merck shares and a report that US lawmakers are discussing a gradual phase-in of much-anticipated corporate tax cuts.
Asian stocks were mostly sluggish on Tuesday following weakness on Wall Street, while the dollar sagged following news that investigators probing Russian interference in the 2016 US election.
Major Headlines of the day:
BEL reports strong set of numbers for Q2FY2018
Revenues up 45 percent at Rs 2476 crore
Net profit up 19.1 percent at Rs 412 crore
EBITDA up 75.8 percent at Rs 595 crore
Margin at 24.0 percent from 19.9 percent
IDFC Ltd announces weak set of numbers for Q2FY2018. Revenue from operations fell 2 percent to Rs 2647 crore Net interest income down 22.7 percent at Rs 837 crore Net profit down 35.8 percent at Rs 181 crore. IDFC and Shriram Group: Called off merger as both parties were unable to agree on a mutually acceptable swap ratio
Bain Capital is in advanced talks with Axis to invest between $750 million and $1 billion (Rs 4,800-6,400 crore), in what could be one of the largest private equity investments in the Indian banking sector.
Trend in FII flows: The FIIs were net buyers of Rs -186.04 the cash segment on Monday while the DIIs were net sellers of Rs 139.68 as per the provisional figures.
UPCOMING-RESULTS:- AJANTAPHARMA, BHARTI, CAPF, CHOLAMANDALAM, DABUR,DIVIS, DRREDDY, ESCORT, IDBI BANK, INDIGO, JSWSTEEL, KPIT, STAR, SYNDIBANK, SINTEX, DBCORP
Securities in Ban For Trade Date 31-OCT-2017: