 "Nifty to open below 7,800 on global growth concerns")
After two days of gains, markets are likely to see a weak opening mirroring loss in the global stocks after Wall Street saw a muted closed and Asian markets retreat after Japan’s key gauge of capital spending unexpectedly fell for a second straight month in July indicating that the economy is struggling to stabilize.
Also, Consumer inflation in China rose to 2% in August, its highest level in a year as the threat of deflation receded further in the world’s second-largest economy.
Meanwhile, Standard & Poor’s cut Brazil’s prized investment grade credit rating to junk on Wednesday and warned that it could lower it again in the coming months, in a major blow to President Dilma Rousseff’s government.
STCOKS ON THE RADAR
Piramal Enterprises is in talks to take control of Infrastructure Leasing & Financial Services (IL&FS)
Bharti Airtel and Malaysia-based Axiata Group have begun talks to merge their operations in Bangladesh to form the second-largest operator in that country.
Reliance Communications and Reliance Jio Infocomm are set to announce a pan-India spectrum sharing-cumtrading agreement next week.
Nestle India may begin making Maggi noodles again in India as early as October in order to bring the favourite snack back on sale by the end of the year.
CCI rejected allegations that GAIL indulged in anti-competitive practices with regard to supply of gas to two Gujarat-based entities.
Tata Steel has started production from the Coke Ovens at its greenfield project at Kalinganagar in Odisha. The production, which commenced on September 4, 2015, marks a major milestone for the steel major's first greenfield steel plant outside Jamshedpur.
Dr Reddy's Laboratories and PanTheryx, Inc., have entered into a licensing agreement that grants the exclusive right to market and distribute PanTheryx's nutritional intervention, DiaResQ, for infectious diarrhoea in India and Nepal.
Tata Motors is in the process of renegotiating the terms of the State Support Agreement (SSA) it had signed with the Gujarat government in 2008 to set up a factory at Sanand, close to here.
Larsen & Toubro (L&T) decided to focus on infrastructure and core areas and also increase geographical reach in West Asia, Africa and a couple of other countries.
GLOBAL MARKET
Asian shares retreated after posting a sharp rise yesterday after China's consumer price index (CPI) rose 2% in August from a year earlier up from 1.6% in July. Meanwhile, Japan’s key gauge of capital spending unexpectedly fell for a second straight month in July indicating that the economy is struggling to stabilize. Japan's Nikkei, China's Shanghai Composite and Hong Kong's Hang Seng are trading lower between 1-3%.
US stocks ended more than 1% lower overnight dragged by fall in shares of Apple and energy companies, which dropped in tandem with oil prices.
