BSE Sensex seen down after 2-day rise, energy firms eyed
The BSE Sensex is expected to pull back on Thursday after two days of gains, with investors across Asian markets shaken by a stream of soft data from major economies and an overnight sell-off on Wall Street.
June 02, 2011 / 09:51 IST
The BSE Sensex is expected to pull back on Thursday after two days of gains, with investors across Asian markets shaken by a stream of soft data from major economies and an overnight sell-off on Wall Street.
Weekly food and fuel inflation data due at around 0630 GMT will be watched for cues on the central bank's expected tightening later this month.Energy shares such as Oil & Natural Gas Corp, Indian Oil Corp and Hindustan Petroleum Corp will be on the radar after global crude prices fell on an unexpected jump in US crude inventories and an industry report that OPEC may raise oil output at its meeting next week. The MSCI's measure of Asian markets other than Japan was off 1.5% by 0316 GMT, while Japan's Nikkei fell 1.55%.The Nifty India stock futures in Singapore fell 1.1%, indicating a weak oepning for the domestic market. On Wednesday, the 30-share BSE index had ended 0.6% higher at 18,608.81 points.Stocks to watch* State-run National Aluminium Co Ltd, after it raised prices for aluminium products by Rs 6,000 (USD 134) a tonne.* Punj Lloyd Ltd, after the engineering and construction firm said it won a contract worth Rs 8,900 crore from an Abu Dhabi firm for onshore oil operations.* Eicher Motors, after VE Commercial Vehicles, a joint venture between the company and Sweden's Volvo, said it sold 3,515 trucks and buses in May, up 25.5% from a year ago.* Titan Industries, after the jewellery and watch retailer said it plans to absorb unit Titan Properties. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
