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BSE Sensex seen lower; Infosys in focus
The BSE Sensex is set to fall early on Tuesday after euro zone debt worries battered major markets in Asia, while software bellwether Infosys Ltd will be in focus as it reports quarterly results before the market opens.
The BSE Sensex is set to fall early on Tuesday after euro zone debt worries battered major markets in Asia, while software bellwether Infosys Ltd will be in focus as it reports quarterly results before the market opens.
Infosys, which kicks off the earnings parade for the showpiece sector, is expected to report strong growth in June quarter revenue although margins are expected to be under pressure due to annual wage hikes. Investors would also be watching for any change in the company's revenue and profit guidance for the year to March 2012.
Asian equities suffered sharp losses on Tuesday while the euro remained under pressure on escalating worries that the threat of contagion from the Greek debt crisis could lead to more countries requiring financial aid.
The MSCI's measure of Asian markets other than Japan was down 1.9%by 0243 GMT, while Japan's Nikkei fell 1.5%.
The Nifty India stock futures in Singapore dropped 1.3%.
The main 30-share BSE index dropped 0.7% on Monday, its second straight session of losses.
Stocks to watch
* Essar Oil after it swung to a net profit for the first quarter and said it was raising further capital not exceeding USD 2 billion.
* Banco Products India after it said it was considering sale, transfer of its gasket division to a proposed new subsidiary.
* Mastek Ltd after it said its group president had resigned, and the current chairman and managing director would take complete charge of operations.
