Market opens flat ahead of Q2 results season

Benchmark share indices opened flat with a downwards bias a day before Infosys kicks off the second earnings results. Benchmark indices opened flat tracking SGX Nifty which down 22 points.  

At 9:16 AM the 30-share BSE Sensex was down 0.1% or 26 points at 20223 levels while broader NSE Nifty was down 0.1% or 6.40 at 6001.

Stocks in Asia rose on hopes that US lawmakers would soon reach an agreement over the budget and end the shutdown.The Asian markets are flat to high. Japan's Nikkei is up 0.8% and Hong Kong's Hang is absolutely flat. South Korea's Kospi index gained 0.10 while China's Shanghai index is down 0.20%

 
Key US share indices ended flat on Wednesday on hopes that lawmakers would soon come to an agreement over the budger and put an end to the federal government shutdown.

The Dow Jones industrial average ended up 26 points, or 0.2%, to end at 14,803. The Standard & Poor's 500 Index closed 1 point, or 0.06% higher, at 1,656. However, the Nasdaq Composite Index fell 17 points or 0.5%, to end the session at 3,678.

European stocks ended lower on Wednesday as the continuing shutdown in the US continued to weigh on investor sentiment. The CAC-40 ended down 0.2%, DAX slipped 0.5% while the FTSE-100 closed 0.4% lower.

Stock movers in the pre-open session were L&T finance holding up 5.5% and Bajaj Auto up 1.7%

STOCKS TO WATCH

Apollo Hospitals may see some action after the company said it has entered into a partnership with global medical technology major Medtronic Inc develop a cost-effective and efficient dialysis system in India. The collaboration will leverage on a technology platform developed by Medtronic, supported with clinical insight from Apollo, envisioning a reduction in cost by 10-20 per cent for patients.

Visa Steel may be in focus after the company evinced interest to acquire assets of steel trading major Stemcor in Odisha that includes an iron ore pellet plant and stakes in an iron ore and manganese mine.

SBI is likely to see activity on reports that the finance ministry is likely to allow the banking major to raise around Rs 8,000 crore of equity capital either through a QIP or a follow-on issue.

Sources said that Idea Cellular is likely to announce a QIP of Rs 3,000 crore as early as next week.