 "Bihar exit poll, US jobs data to dictate trend")
After witnessing a heavy sell-off in the last hour of trade on Thursday, markets are likely to open the Friday trading session on a weak note as investors await for the Bihar poll outcome after the Thursday exit poll suggested a close contest between NDA and the Nitish Kumar-led Mahagatbandhan.
Meanwhile, US jobs data is due to released today which is likely to provide further cues concerning rate hike by the Federal Reserve.
Meanwhile, US jobs data is due to released today which is likely to provide further cues concerning rate hike by the Federal Reserve.
BIHAR EXIT POLL
Exit polls, released after the conclusion of the fifth and final phase of voting, came out with mixed forecasts.
Four of the six exit polls seemed to agree the results would be too close to call but that the Nitish Kumar-led Grand Alliance of Rashtriya Janata Dal, Janata Dal (United) and Congress has an edge. CLICK HERE FOR THE STORY
Four of the six exit polls seemed to agree the results would be too close to call but that the Nitish Kumar-led Grand Alliance of Rashtriya Janata Dal, Janata Dal (United) and Congress has an edge. CLICK HERE FOR THE STORY
Cosidering yesterday's session, analysts suggest that the bulls are opting to stay out of the market just ahead of Bihar election result.
"Technically speaking, the Nifty has now broken down marginally from its lower end of the Channel. Going forward, if the index manages to stay below 7,920 then we may witness an immediate correction towards 7,850 – 7,800 levels. On the higher side, 8020 – 8060 are likely to act as a strong resistance. It's advisable to stay light on positions as the election outcome on Monday may bring in higher volatility in our market," points out a morning note from Angel Broking.
GLOBAL MARKETS
GLOBAL MARKETS
Asian shares are trading lower on Friday as investors remain edgy ahead of the US jobs data later in the session which is likely to provisde further cues pertaining to an interest rate hike by the US Fed reserve. .J apan's Nikkei and China's Shanghai Composite have gained 0.4% and 0.2% each.
Meanwhile, Wall Street registered marginal losses on the back of mixed set of earnings. Meanwhile, US Jobs data is eyed by the investors
Meanwhile, Wall Street registered marginal losses on the back of mixed set of earnings. Meanwhile, US Jobs data is eyed by the investors
STOCKS ON THE RADAR
Aurobindo Pharma, BHEL, Bank of Baroda, Tata Motors, Eicher Motors, Glaxosmith Kline, Hathway cable, M&M, Motherson Sumi, ONGC, Punjab National Bank, RComm, SBI among others are scheduled to post their Q2 numbers today.
US-based Virtusa agreed to purchase majority 53 per cent stake in Chennai-based Polaris Consulting and Services for nearly Rs 1,173 crore.
Tata Steel reported a consolidated net profit of Rs 1,529 crore in September quarter, up 22 per cent from same period last year.
Novartis India reported a multi-fold jump in its stand-alone net profit at Rs 103.82 crore for the September quarter on back of slump sale of its OTC division to GlaxoSmithKline Plc.
Cipla is likely to renmain in focus after the drug maker reported a 44% increase in net profit for its second quarter through September.
Clariant Chemicals reported net profit of Rs 21.45 crore for the quarter ended September 30 on account one-time income from sale of certain assets.
Castrol India reported a 21.5 per cent rise in the September quarter net profit to Rs 143.2 crore. The lubricant maker had reported a net profit of Rs 117.9 crore in July-September 2014 quarter.
Investors are going to closely watch shares of IDFC as IDFC Bank which was demerged from IDFC, will be listed on today on the exchanges.
Investors are going to closely watch shares of IDFC as IDFC Bank which was demerged from IDFC, will be listed on today on the exchanges.
