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Last Updated : May 17, 2018 08:56 AM IST | Source:

Markets@Moneycontrol: Nifty likely to open flat; Bajaj Finserv, Escorts, JSW Steel to be in focus

60 companies will be declaring their results for quarter ended March later today.

Moneycontrol News @moneycontrolcom

The Nifty50 is likely to open on a flat note Thursday following muted trend seen in Asian stocks. The index closed down 60.80 points at 10,741.10 on Wednesday.

The SGX Nifty futures also indicated flat trade as it was trading at 10,765.50, up 1.50 points on the Singaporean Stock Exchange.

Asian stocks were narrowly mixed, shrugging off the firmer close on Wall Street as the yield on the US 10-year Treasury stayed above 3 percent, reports CNBC.

US stocks rose on Wednesday as retail shares jumped on the back of strong quarterly earnings from retailer Macy's.

The Dow Jones industrial average closed 62.52 points higher at 24,768.93. The S&P 500 gained 0.4 percent to 2,722.46 and the Nasdaq composite advanced 0.6 percent to 7,398.30, reports CNBC.

Back home, a hung parliament in Karnataka kept the mood of the markets indecisive and spurred a risk-off sentiment in the market. In Karnataka, the BJP emerged as the single-largest party but it marginally fell short of the 113 seats needed to form a government.

60 companies will be declaring their results for quarter ended March later today. Most of the big names have already reported their results now most of the small and midcap names are declaring their results. Some of the companies are.

Bajaj Finance: Net profit up 42% on YoY basis| down 16% on QoQ basis

Escorts: PAT likely to grow by 126% on YoY basis| up 18% on QoQ

Quess Corp: PAT likely to grow by 144% on YoY basis| up 30% QoQ

(Estimates are from Motilal Oswal)

For more, watch the Markets@Moneycontrol show as Moneycontrol Editor Santosh Nair talks to Anchal Pathak about the latest market trends to watch out for today.
First Published on May 17, 2018 08:46 am
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