 "Markets likely to open weak tracking Asian cues")
Markets are likely to extend losses and open marginally weak tracking negative Asian cues. The early indicator, SGX Nifty was flat at 8,150 at 0820 hrs.
Markets will also react to the August IIP and September CPI data which were announced yesterday post market hours.
Industrial Production grew by 6.4% for the month of August, an improvement over the 4.2% growth registered in the previous month of June, official data showed on Monday.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 317.56 crore yesterday, as per provisional data released by the stock exchanges.
Among corporate news, IT major TCS announces its Q2 September 2015 earnings today, 13 October 2015.
Benchmark share indices ended lower on Monday, amid profit taking after sharp gains last week, with IT majors leading the decline after Infosys lowered its dollar revenue guidance for the current fiscal. However, metal stocks extended gains tracking gains in global commodity prices.
GLOBAL MARKETS
Asian shares stepped back from two-month highs on profit-taking on Tuesday and oil prices regrouped after Monday's big fall, while the dollar was on the defensive as expectations of an imminent U.S. rate hike receded.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2% in early trade from their two-month high touched on Monday, though it was still up 8.6% so far this month. Japan's Nikkei fell 0.6%.
Oil prices tumbled on Monday as traders took profits after last week's surge to an 11-week high, and on a report that OPEC continued to boost crude production despite a persistent glut.
Gains in utilities offset a retreat in energy shares on Monday, leaving U.S. stocks slightly higher as investors remained nervous about third-quarter corporate results.
The Dow rose for a seventh straight session, led by gains in UnitedHealth Group, which rose 2.7% at $122.51.
STOCKS TO WATCH
Capital Goods shares will be in focus after IIP grew by 6.4% for the month of August.
The international consultant appointed to give its technical findings in a gas dispute between ONGC and Reliance Industries (RIL) submitted an interim report on Friday, stating around nine billion cubic metres (bcm) of natural gas may have flown out from ONGC’s block in the Krishna-Godavari basin to RIL’s adjoining reservoir.
Infosys, India’s second largest information technology services company, indicated weakness in the second half of the financial year, as it held on to its constant currency guidance.
CBI is likely to register more FIRs into alleged loan defaults of Kingfisher even as it plans to expand its probe to look into the allegations of diversion of about USD 200 million dollars to "tax havens".
The Petroleum and Natural Gas Regulatory Board (PNGRB)’s move to declare 20 Indian Oil Corporation (IOC) pipelines, accounting for about half the company’s pipeline capacity of 80 million tonnes (mt), as “common carrier” will hit refinery and pipeline development and impact the entire sector, the fuel retailer has said.
Allegedly illegal foreign exchange transactions at a Bank of Baroda (BoB) branch in New Delhi are likely to prompt the central bank to tighten anti-money laundering norms. Sources at the Reserve Bank of India (RBI) say systemic implications have been ruled out.
Private lender YES Bank on Monday said it had got the central bank's approval to set up a mutual fund, asset management company (AMC), and a trustee company.
The Indian Railway Catering and Tourism Corporation (IRCTC) has partnered Chennai-based Apollo Hospitals to offer hassle-free travel for people who travel for medical care.
With BS Reporter and Reuters input
Markets will also react to the August IIP and September CPI data which were announced yesterday post market hours.
Industrial Production grew by 6.4% for the month of August, an improvement over the 4.2% growth registered in the previous month of June, official data showed on Monday.
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However, India's retail inflation based on the consumer price index (CPI) for September increased to 4.41%, from 3.74% recorded for the previous month, on the back of higher food prices, official data showed on Monday.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 317.56 crore yesterday, as per provisional data released by the stock exchanges.
Among corporate news, IT major TCS announces its Q2 September 2015 earnings today, 13 October 2015.
Benchmark share indices ended lower on Monday, amid profit taking after sharp gains last week, with IT majors leading the decline after Infosys lowered its dollar revenue guidance for the current fiscal. However, metal stocks extended gains tracking gains in global commodity prices.
GLOBAL MARKETS
Asian shares stepped back from two-month highs on profit-taking on Tuesday and oil prices regrouped after Monday's big fall, while the dollar was on the defensive as expectations of an imminent U.S. rate hike receded.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2% in early trade from their two-month high touched on Monday, though it was still up 8.6% so far this month. Japan's Nikkei fell 0.6%.
Oil prices tumbled on Monday as traders took profits after last week's surge to an 11-week high, and on a report that OPEC continued to boost crude production despite a persistent glut.
Gains in utilities offset a retreat in energy shares on Monday, leaving U.S. stocks slightly higher as investors remained nervous about third-quarter corporate results.
The Dow rose for a seventh straight session, led by gains in UnitedHealth Group, which rose 2.7% at $122.51.
STOCKS TO WATCH
Capital Goods shares will be in focus after IIP grew by 6.4% for the month of August.
The international consultant appointed to give its technical findings in a gas dispute between ONGC and Reliance Industries (RIL) submitted an interim report on Friday, stating around nine billion cubic metres (bcm) of natural gas may have flown out from ONGC’s block in the Krishna-Godavari basin to RIL’s adjoining reservoir.
Infosys, India’s second largest information technology services company, indicated weakness in the second half of the financial year, as it held on to its constant currency guidance.
CBI is likely to register more FIRs into alleged loan defaults of Kingfisher even as it plans to expand its probe to look into the allegations of diversion of about USD 200 million dollars to "tax havens".
The Petroleum and Natural Gas Regulatory Board (PNGRB)’s move to declare 20 Indian Oil Corporation (IOC) pipelines, accounting for about half the company’s pipeline capacity of 80 million tonnes (mt), as “common carrier” will hit refinery and pipeline development and impact the entire sector, the fuel retailer has said.
Allegedly illegal foreign exchange transactions at a Bank of Baroda (BoB) branch in New Delhi are likely to prompt the central bank to tighten anti-money laundering norms. Sources at the Reserve Bank of India (RBI) say systemic implications have been ruled out.
Private lender YES Bank on Monday said it had got the central bank's approval to set up a mutual fund, asset management company (AMC), and a trustee company.
The Indian Railway Catering and Tourism Corporation (IRCTC) has partnered Chennai-based Apollo Hospitals to offer hassle-free travel for people who travel for medical care.
With BS Reporter and Reuters input