Pre-Market: Shares may open lower, Asia slumps

Markets are expected to open lower tracking weak Asian shares on concern that the US will take military action against Syria.

At 8AM, SGX Nifty was down 70 points at 5,240.

In Asia, about eight stocks fell for every one that rose on the MSCI Asia Pacific Index, led by losses in Japanese shares as the Topix sank 2.3 percent, set for the lowest close since June 27.

All 10 industry groups fell on the MSCI’s Asian gauge, which is down 2 percent in August.

Overnight, US stocks declined with Wall Street stocks suffering their worst day since June on Tuesday due to geopolitical uncertainty.

Following stocks are expected to move on the exchanges today:

After defaulting for a consecutive time in paying its investors, National Spot Exchange Ltd (NSEL) got a Rs 177-crore lifeline from its main promoter, Jignesh Shah-run Financial Technologies. This money, taken as bridge loan, will be used to clear payments to small investors.

Reliance Group Chairman Anil Ambani on Tuesday said in the months to come, his telecom venture, Reliance Communications (RCom), would collaborate with Mukesh Ambani’s Reliance Jio even more.

Maruti Suzuki India, the country’s largest car maker, on Tuesday said it would delay the commissioning of its facility in Mehsana, Gujarat, its third in the country.