Market may open slightly lower

Key indices may open with small losses as trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 6.50 points at the opening bell.

In overseas markets, Asian stocks were mixed. US stocks ended down yesterday, 4 November 2015, as energy stocks turned lower on a drop in oil prices and two Federal Reserve officials said US economic strength could justify a December interest rate hike. Federal Reserve's Chairwoman Janet Yellen told Congress yesterday, 4 November 2015, the Fed expects the economy to continue to grow at a pace that returns inflation to policy-makers' target and that "if the incoming information supports that expectation ... December would be a live possibility" for a rate increase at the Fed's next policy-setting meeting.

Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 33.16 crore yesterday, 4 November 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 74.90 crore yesterday, 4 November 2015, as per provisional data.

Among corporate news, Ashok Leyland's net profit rose 137.64% to Rs 286.81 crore on 52.85% rise in total income to Rs 4966.20 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 4 November 2015.

Cipla, Novartis India, Tata Global Beverages and Tata Steel will announce their July-September 2015 quarterly earnings today, 5 November 2015.

Wockhardt said that India Ratings and Research has assigned the company's proposed Rs 50 crore commercial paper (CP)/short-term debt programme a short-term rating of 'IND A1+'. The announcement was made after market hours yesterday, 4 November 2015.

Bata India's net profit rose 38.72% to Rs 54.11 crore on 4.48% rise in total income to Rs 583.56 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 4 November 2015.

Meanwhile, losses for stocks of private sector banks, pharma companies and index heavyweight Reliance Industries (RIL) outweighed gains for auto sector stocks and shares of public sector banks to push key benchmark indices lower yesterday, 4 November 2015. The barometer index, the S&P BSE Sensex, fell 37.67 points or 0.14% to settle at 26,552.92.

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