You are here: Home » Markets » News » Market Update
Business Standard

Markets likely to open lower tracking global cues; Pfizer, Titan in focus

Markets may remain volatile ahead of F&O expiry for the month of November and the winter session of the Parliament

SI Reporter  |  Mumbai 

Markets likely to open lower tracking mixed global cues; Pfizer, Titan in focus

Domestic may not open on a bright note as the weak global cues would add gloom to the ahead of the derivatives expiry for the month of November and the winter session of the Parliament.

The early indicator SGX Nifty is trading down by 0.4% down.

The benchmark indices remained range bound on Monday and the Nifty ended just shy of 7,850 in the absence of any immediate triggers.

The would remain closed tomorrow, November 26, 2015 on account of Guru Nanak Jayanti.

Overnight, the Wall Street ended marginally lower in a truncated Thanksgiving week mainly on the back of uncertainty in oil prices. European markets also edged lower on Monday.

Taking overnight cues, Asian equities are trading mixed with Hang Seng and Shanghai Composite down by 0.8% each.


Pfizer: The pharmaceutical giant Pfizer said on Monday that it had struck a $160-billion deal, including debt, to merge with Allergan, the maker of Botox, in one of the biggest takeovers in the health care industry. This deal could open up opportunities for other drug manufacturers in India.

Vedanta, Hindalco: The shares of metal and mining firms Vedanta and Hindalco Industries came under selling pressure on Monday following the BSE's announcement last week that the stocks would no longer be part of the 30-share Sensex from December 21. Both these stocks slipped in yesterday's trades.

Titan Company: Titan, will launch a ‘smartwatch’, which it has jointly designed and built with global computing major HP Inc in India and select international markets by December.

Nestle India: Nestle India on Monday announced it has resumed Maggi noodles' manufacturing at its Pantnagar factory in Uttarakhand.

Lanco Infratech: Lanco Infratech Ltd today posted a consolidated net profit of Rs 98.98 crore in the second quarter of the current fiscal after three years, due to tax reimbursements and favourable power tariff order.

Tata Communications: Telecom company,Tata Communications said the shareholders of Neotel - its majority-owned South African telecom firm - are in talks with Vodafone South Africa for a revised transaction structure for the sale of Neotel.

Advanta, UPL: Advanta board has approved a merger with UPL. Advanta shareholders will get one equity share and three preference shares of UPL for every share held in the company on the record date.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, November 24 2015. 08:32 IST