 "Weak opening seen on Fed decision; F&O Expiry eyed")
Markets are likely to see a weak opening after the US Federal Reserve raised hopes of an interest rate hike in the month of December, however leaving the interest rates near zero at present. Meanwhile, caution is likely to prevail on the bourses as the October derivative contracts expire today.
Meanwhile, a firm closing on the Wall Street amid a strong dollar has cheered the sentiments among the Asian peers which is likely to cap the downside.
STOCKS IN FOCUS
Dr Reddy’s Lab, NTPC, Nestle India, Bharat Forge, Colgate-Palmolive, Crompton Greaves, Emami, Glenmark Pharma, Torrent Pharma and YES Bank will be on the investors radar as they announce the quarterly results today.
RIL is likely to show some action after Reliance Jio Infocomm decided to raise Rs 3,000 crore by issuing secured redeemable non-convertible debentures on private placement basis.
Sun Pharma has initiated a recall of a little over a million boxes of Loratadine, an anti-allergic drug, from the US market after checks revealed the tablets were ‘super potent’ and ‘out of specification’.
Maruti Suzuki, which recently set up a premium dealership network for select cars, will start pilot for a new sales network to sell light commercial vehicles due for launch early next year which will roll out during the current quarter in four states.
A majority on the CCI have dismissed a complaint on its alleged abuse of a dominant position in the Noida and Greater Noida real estate maket against two of its companies, Jaiprakash Associates and Jaypee Infratech.
Jet Airways posted a consolidated net profit of Rs 83 crore in the second quarter of FY16 compared with a loss of Rs 43 crore in the same period last year on the back of passenger and revenue growth and lower fuel costs.
Dabur India’s net profit has increased by 18.2 per cent during the July-September quarter of this financial year to Rs 341 crore from Rs 289 crore in the same quarter the previous year owing to declining raw material prices.
Telenor India’s operating loss widened to NOK 373 million (Rs 286 crore) in the September 2015 quarter from NOK 195 million (Rs 149.26 crore) in the year-ago period.
Axis Bank is likely to remain in focus after the bank plans to raise Rs 3,000 crore by way of infrastructure bonds.
Oriental Bank of Commerce has decided to raise capital worth Rs 1,000 crore through Basel-III-compliant Tier-II bonds to shore up its capital adequacy and support business growth.
Syndicate Bank posted a profit growth of 5.3 per cent to Rs 332 crore in the September quarter, on higher interest income and lower provisioning for NPAs.
ONGC Videsh has decided to double its investments in Africa from the current $8 billion over the next three years.
Hero Motocorp may post growth in excess of 20% during the month of Octobe on the back of strong sales during the Navratri and Dusshera festive season.
NTPC's Vindhyachal Super Thermal Power Station (VSTPS) will become country's largest power generating plant on Friday with the commissioning of another 500 MW unit.
GLOBAL STOCKS
The US Federal Reserve raised hopes of an interest rate hike in the month of December as growth of the US economy improves. Following the development, the Nasdaq gained1.3% while the Dow Jones and S&P 500 rose 1.1 and 1.2% respectively.
Meanwhile, European peers settled higher on Wednesday after good earnings and a rebound in oil prices cheered the sentiments.
Asian markets gained widely following a firm closing on the Wall Street after the Fed decided to leave interest rates near zero.
