Market likely to open lower on negative Asian stocks

The market is likely to open lower on negative Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 19 points at the opening bell.

In overseas markets, mainland Chinese stocks lead Asia markets lower as investors awaited policy decisions by the Federal Reserve and the Bank of Japan later in the week. The US Federal Reserve's two-day meeting for deliberating on interest rate decision begins today, 27 October 2015 and the Bank of Japan's (BoJ) meeting on interest rate decision is scheduled on Friday, 30 October 2015. US stocks ended on a mixed note yesterday, 26 October 2015 as energy shares led decliners following a drop in oil prices.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 724.51 crore yesterday, 26 October 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 530.78 crore yesterday, 26 October 2015, as per provisional data.

Coal India will be in focus after two new coal mines with a total capacity to produce 6.75 million tonnes of coal per annum were inaugurated by the Minister of State (Independent Charge) for Power, Coal and New & Renewable Energy Piyush Goyal yesterday, 26 October 2015. The two new coal mines belong to Western Coalfields (WCL) and are situated in Nagpur district in Maharashtra. WCL is a wholly-owned subsidiary of Coal India.

Among key corporate earnings, Axis Bank, Lupin, Maruti Suzuki India and Vedanta are set to announce their Q2 earnings today, 27 October 2015.

Stocks of real estate companies which have their operations focused in Mumbai will be on investors' radar after the finance ministry issued a clarification stating that no service tax will be applicable on sale of flats/dwellings etc. in areas under the jurisdiction of Brihanmumbai Municipal Corporation (BMC) in cases where the entire consideration for the sale of flats has been received after issue of occupancy certificate by BMC.

A divergent trend for various index constituents resulted in modest losses for key benchmark indices yesterday, 26 October 2015. The Sensex fell 108.85 points or 0.40% to settle at 27,361.96, its lowest closing level since 21 October 2015.

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