Moneycontrol
Get App
Last Updated : Oct 13, 2015 09:02 AM IST | Source: Moneycontrol.com

Nifty likely to open flat; banks in focus

The US stocks closed mildly higher in low volume trade as investors readied for the first major earnings reports due today.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

The Indian equity market Tuesday is likely to open flat with the market indicator SGX Nifty up just 10 points at 8161 around 7.40 am

Yesterday too it was not a good start to the week as equity benchmarks lost more than half a percent, weighed by technology stocks after Infosys September quarter earnings. The 30-share BSE Sensex closed below 27000, down 175.40 points or 0.65 percent to 26904.11. The 50-share NSE Nifty shed 46.10 points or 0.56 percent to 8143.60. However, the broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices closing flat with positive bias.

The Asian markets too have opened on the backfoot this morning. Bank of Japan released minutes from its recent policy meeting where it maintained its pledge to increase base money at an annual pace of 80 trillion yen.

China's September trade numbers are due later in the session.

However, in the US stocks closed mildly higher in low volume trade as investors readied for the first major earnings reports due today.

JP Morgan chase is scheduled to report after the close today, beginning a heavy week of earnings reports from financials.

In Europe equities ended mixed, failing to hold onto last week's strong gains, as investors grew cautious over oil prices and individual stock news
shares in Glencore sank around 6 percent by the close after the company said it planned to sell copper mines as part of efforts to slash its debt pile.

From other asset class, the dollar trades near 3-week lows on doubts whether the u-s fed would raise interest rates later this year in the face of a weakening global economy.

Crude rally lost steam -- Nymex crude prices tumbled 5 percent overnight as oil markets remained over-supplied despite talk of stronger demand next year. Nymex slipped to USD 47 per barrel while Brent crude slipped to USD 50 per barrel mark.

From the precious metal space, gold rose to its highest level since early July led by a weak dollar. Gold currently trades above USD 1160 an ounce.

Fom other global news, it was the largest deal in the technology sector -- Dell signed an agreement to buy computer data storage firm EMC for a whopping USD 67 billion. The deal beat the Avago Technologies USD 37 billion takeover of rival Broad-Com

However back home there was positive news with the growth engines are starting to fire with the industrial production accelerates 6.4 percent in August, the highest in 3 years and retail inflation quickened to 4.4 percent as the base effect wanes.

Nifty likely to open flat; Kingfisher Airlines, banks in focus

The Indian equity market Tuesday is likely to open flat with the market indicator SGX Nifty up just 10 points at 8161 around 7.40 am

Yesterday too it was not a good start to the week as equity benchmarks lost more than half a percent, weighed by technology stocks after Infosys September quarter earnings. The 30-share BSE Sensex closed below 27000, down 175.40 points or 0.65 percent to 26904.11. The 50-share NSE Nifty shed 46.10 points or 0.56 percent to 8143.60. However, the broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices closing flat with positive bias.

The Asian markets too have opened on the backfoot this morning. Bank of Japan released minutes from its recent policy meeting where it maintained its pledge to increase base money at an annual pace of 80 trillion yen.

China's September trade numbers are due later in the session.

However, in the US stocks closed mildly higher in low volume trade as investors readied for the first major earnings reports due today.

JP Morgan chase is scheduled to report after the close today, beginning a heavy week of earnings reports from financials.
In Europe equities ended mixed, failing to hold onto last week's strong gains, as investors grew cautious over oil prices and individual stock news
shares in Glencore sank around 6 percent by the close after the company said it planned to sell copper mines as part of efforts to slash its debt pile.

From other asset class, the dollar trades near 3-week lows on doubts whether the u-s fed would raise interest rates later this year in the face of a weakening global economy.

Crude rally lost steam -- Nymex crude prices tumbled 5 percent overnight as oil markets remained over-supplied despite talk of stronger demand next year. Nymex slipped to USD 47 per barrel while Brent crude slipped to USD 50 per barrel mark.

From the precious metal space, gold rose to its highest level since early July led by a weak dollar. Gold currently trades above USD 1160 an ounce.

Fom other global news, it was the largest deal in the technology sector -- Dell signed an agreement to buy computer data storage firm EMC for a whopping USD 67 billion. The deal beat the Avago Technologies USD 37 billion takeover of rival Broad-Com

However back home there was positive news with the growth engines are starting to fire with the industrial production accelerates 6.4 percent in August, the highest in 3 years and retail inflation quickened to 4.4 percent as the base effect wanes.

Back home stocks that could be in news are Kingfisher Airlines, Banks, Tata Power, Lanco Infra, DB Corp, and Indian Bank.


With regards to Kingfisher Airlines case, the CBI will widen the probe from just IDBI to ten other banks. 10 out of the 17 banks who have given loans to the company are under the scanner.


Lanco Infra pre-closes its term loan with Yes Bank to the extent of Rs 205.42 crore.

Close

Tata Power moves Delhi High Court, question disclosures sought by CAG.


DB Crop acquires 14 frequencies in phase-III radio FM auctions.

Indian Bank’s ED Mahesh Jain gets additional role of MD and CEO.



Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.
First Published on Oct 13, 2015 07:56 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant