Market may edge lower in early trade on weak global cues

Market may edge lower in early trade tracking weakness in Asian markets and overnight decline on Wall Street. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 16.50 points at the opening bell.

In overseas stock markets, Asian stocks edged lower today, 14 October 2015 on China growth slowdown concerns. US stocks closed lower yesterday, 13 October 2015, with the Dow Jones snapping its 7-day winning streak amid key third-quarter earnings reports.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 272.61 crore yesterday, 13 October 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 273.51 crore yesterday, 13 October 2015, as per provisional data.

Among corporate news, TCS' consolidated net profit rose 6.5% to Rs 6085 crore 5.8% growth in revenue to Rs 27165 crore in Q2 September 2015 over Q1 June 2015. Operating profit rose 8.7% to Rs 7307 crore in Q2 September 2015 over Q1 June 2015. The company announced results after market hours yesterday, 13 October 2015. The growth was broad based in Q2 with all industries growing on a sequential basis led by banking & financial services (BFS), retail, life sciences and travel & hospitality. Core markets like UK, North America, and Europe grew smartly along with emerging markets like Latin America, Indian and MEA. There was balanced growth across service lines led by asset leveraged solutions. The customers with deals of $100 million and above rose by 3 and $10 million and above customers rose by 6 in Q2 September 2015.

TCS has declared a second interim dividend of Rs 5.50 per share for the year ending 31 March 2016 (FY 2016).

Hindustan Unilever and Zee Entertainment Enterprises will declare their Q2 September 2015 result today, 14 October 2015.

Maruti Suzuki India after market hours yesterday, 13 October 2015, announced the opening of pre-launch bookings for its premium passenger car Baleno. The car is slated for launch by the end of the month.

Losses for index heavyweight Infosys and shares of oil exploration and production companies offset gains for automobile stocks and index heavyweight ITC to push key benchmark indices lower for the second day in a row yesterday, 13 October 2015. The Sensex dropped 57.58 points or 0.21% to settle at 26,846.53, its lowest closing level since 8 October 2015.

On the macro front, inflation data based on the wholesale price index (WPI) for September 2015 will be declared at 12:00 IST today, 14 October 2015. The WPI inflation dipped further into sub-zero level to minus 4.95% in August 2015 compared with minus 4.05% in July 2015.

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