Weak opening seen on D-Street as Asian peers lose sheen

Coffee Day Enterprises will list its shares on stock exchanges today

Markets are likely to open the first session of the week on a weaker note mirroring losses across the Asian peers on sluggish China manufacturing data amid BOJ’S decision of keeping the key rates unchanged.

However, stocks specific action is likely to be seen as the Earnings season continues. Movement of rupee and crude oil along with FII stance is likely to dictate the trend on the bourses.

Foreign investors pumped in over Rs 22,350 crore ($3.44 billion) in the Indian capital markets in October, the highest in seven months, buoyed by RBI's rate cut and positive macroeconomic numbers.

KEY EVENTS FOR THE WEEK

Among Q2 corporate earnings, SBI, Tata Steel, Cipla, BHEL, Tata Motors, ONGC, DLF, Indian Oil Corporation, Ashok Leyland, Bank of Baroda will announce the results this week.
 

The Nikkei India Manufacturing Purchasing Managers’ Index (PMI) data for the month of October 2015 is due today.

STOCKS ON THE RADAR

Tata Motors reported one per cent growth in total sales at 43,486 vehicles for October 2015 compared to 42,862 units in the same month of last year.

Coffee Day Enterprises, which runs Cafe Coffee Day outlets, will list its shares on stock exchanges today.

 Eicher Motors posted 73% sales growth over comparable period last year. Continuing its strong sales momentum, Royal Enfield posted 73 per cent surge in total sales at 44,138 units in October 2015 compared to the same month last year.

Mahindra & Mahindra posted 19 per cent increase in sales in October at 24060 units as against 20,255 units posted in the same month last year.

On the back of OVL's $1.27 billion deal to buy stake in Vankor oilfield of Russia, Indian Oil Corp has expressed interest in taking 5-10 per cent stake in the Rosneft-operated field.

Indiabulls Real Estate slashed its net debt by over Rs 300 crore during the second quarter of this fiscal and is targeting to further reduce it by Rs 1,850 crore by March 2017.

Bajaj Auto has moved three models from its Discover brand to passive production as the company tries to reposition the troubled brand yet again.

 Indian Overseas Bank reported a net loss of Rs 550.83 crore for the quarter ended September, against a net loss of Rs 245.51 crore a year ago.

Pfizer Inc. and Allergan Plc are making progress on the year's biggest acquisition and are working toward agreeing on a deal as early as next month, according to media reports

Future Lifestyle Fashions reported a 69.77 per cent decline in its net profit to Rs 2.11 crore for the second quarter ended September 30. 
 

Cigarette maker GodfreyPhillips India reported a 53.03 per cent rise in standalone net profit at Rs 49.72 crore for the second quarter ended September 30. 

GLOBAL STOCKS

Asian stocks are trading lower today mirroring sluggish Chinese data after China's manufacturing sector unexpectedly shrank in October for a third straight month raising fears the economy may still be losing momentum. Meanwhile, Bank of Japan's decision to keep policy rates unchanged is likely to weigh on the sentiments. Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng are trading lower between 0.2-1.3%.