Indian benchmark indices are likely to open lower on Wednesday, tracking weak cues from Nifty futures on the Singapore Stock Exchange and negative trend across global peers. Markets across Asia were trading lower after Wall Street ended in red in overnight trade amid persistent fall in information technology stocks.
SGX Nifty is trading at 10116(down 27points) indicating a weak opening.
The BSE Sensex and NSE Nifty closed marginally lower on Tuesday as traders are cautious ahead of the Reserve Bank of India’s policy decision today. The 30-share BSE Sensex was down 67.28 points at 32,802.44 and the 50-share NSE Nifty fell 9.50 points to 10,118.30.
RBI will announce the decision on key interest rate in its Fifth Bi-monthly Monetary Policy today. The Monetary Policy Committee is expected to leave the repurchase rate unchanged at 6%.
Asian markets are trading in the red with Shanghai Composite, down 0.64%, Hang Seng down 0.55% while Nikkei is trading 0.90% lower.
US Markets after seeing strength for much of the session, stocks pulled back late in the day to close moderately lower. The Dow fell by 109.41 points or 0.5% to 24,180.64, the Nasdaq edged down 13.15 points or 0.2% to 6,762.21 and the S&P 500 dipped 9.87 points or 0.3% to 2,629.57.
European markets also ended in the red yesterday with FTSE down 0.16%, CAC down 26% and DAX ended 0.08% lower. Wall Street fell on Tuesday as a technology rebound lost steam, while investors assessed how a Republican US tax overhaul would impact corporate earnings
Major Headlines of the day:
Dish TV Q2, YoY
Revenue down 4 percent at Rs 749 cr
Net loss of Rs 16 crore from a profit of Rs 70 cr
Ebitda down 18 percent at Rs 216.5 cr
Margin at 28.9 percent versus 34%.
Shilpa Medicare received 10 observations from U.S. FDA for its Telangana plant.
Aurobindo Pharma gets U.S. FDA nod for Ranolazine Extended Release Oral Tablet
Sunpharma gets tentative US FDA Nod for Tadalfil Tablets (2.5-20 mg).
The RBI has notified that the aggregate foreign share holdings by FPIs under Portfolio Investment Scheme in Bharat Financial Inclusion Limited have gone below the prescribed threshold caution limit. The restrictions placed on the purchase of shares are withdrawn with immediate effect.
Trend in FII flows: The FIIs were Net Value of Rs -1470.56 the cash segment on Wednesday while the DIIs were Net Value of Rs 1074.39 as per the provisional figures.