 "Weak opening expected on global equity sell-off")
Markets are likely to start the week on a lower note mirroring weakness in the global peers after US markets suffered heavy losses on Friday following US Federal Reserve’s decision to maintain status quo on interest rates raising fears about global growth especially in China.
KEY EVENTS THAT WILL SHAPE THE WEEK
The markets might remain volatile ahead of the near-month September derivatives contracts expiry on Thursday, as traders roll-over positions to the October 2015 series. On the global front, China’s PMI index for the month of September will be released next week. Further, data on sales of existing homes and new homes for August in the US is scheduled for release next week.
STOCKS ON THE RADAR
Dish TV, Siti Cables, Hathway services and Den Networks are likely to be in focus on reports suggesting that the government is examining a proposal to hike the FDI limit in local television news channels to 49%.
DLF is set to open its sixth mall in Delhi-NCR by May next year with an investment of Rs 300 crore.
Pharma major, Sun Pharma will divest to Bangalore-based Strides Arcolab, the products in the central nervous system portfolio that formed part of the erstwhile Ranbaxy Laboratories.
Power Mech Projects secured Rs 167-crore worth contract from Jaypee Group's Prayagraj Power Generation Co.
Three promoters of Shree Renuka Sugars have together pledged 14.45% of their shares in the company as a security for loan taken by a subsidiary firm.
ITC announced doubling its investment in Punjab from Rs 700 crore to Rs 1,400 crore.
BPCL is all set to start work on the petrochemicals complex in Kochi with all green clearances in place and securing a Rs 4,000-crore loan commitment from State Bank of India.
NBCC bagged Rs 197-crore project to build a Trade Facilitation Centre and Crafts Museum at Varanasi.
GLOBAL MARKETS
Asian stocks are trading following losses on Wall Street, as the Federal Reserve's decision to keep interest rates near zero raised concerns about global growth. Japan’s Nikkei, China’s Shanghai Composite, Hong Kong’s Hang Sang are trading lower between 0.1-2%.
The Fed uncertainty irked global investors which resulted in a sell-off on Wall Street on Friday with the Dow Jones Industrial Average closing down 1.7%. The S&P 500 and tech-heavy Nasdaq Composite lost 1.6% and 1.4% respectively.
