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Market Ahead, January 10: Investors eye TCS Q3 results; Global cues, oil key things to watch out for
Today on Market Ahead: 1. Asian shares start cautiously after trade talks end 2. Theresa May suffers parliament defeat as Brexit debate resumes 3. Investors eye TCS Q3 results; Global cues, oil key things to watch out for
December quarter earnings by Indian IT giant TCS, recently concluded US-China trade talks, GST council meet are likely to dictate market trends on Thursday. That apart, movement in rupee, oil prices and developments around Brexit are among other factors that market may take cues from. 
 
The rupee on Wednesday extended its losses by another 25 paise to close at 70.46 against the US dollar as continued rise in global crude oil prices weighed on sentiments.
 
Among other results, Bandhan Bank is also slated to release its December quarter results later in the day. 
 
The Nifty futures on Singapore Exchange (SGX) were trading at 10,893.50, up 18 points or 0.17 per cent in early trade.
 
Delegations from China and the United States ended three days of trade talks in Beijing on Wednesday in the first face-to-face negotiations since both sides agreed a 90-day truce in a trade war that has disrupted the flow of hundreds of billions of dollars of goods.
 
British Prime Minister Theresa May suffered an early defeat to her Brexit plans on Wednesday when parliament demanded the government to come up with a plan-B within days if she loses a vote on her deal to leave the European Union. 
 
In stock markets, the Asian shares began cautiously on Thursday, struggling to rise after a multi-day rally as markets await more news on US-China trade talks that have raised hopes of a deal to avert an all-out trade war.
 
MSCI’s broadest index of Asia-Pacific shares outside Japan was a tad lower, trading not far off a near four-week high. Australian shares were down 0.2 per cent, while Japan’s Nikkei eased 1.2 per cent.
 
Overnight on Wall Street, the Dow Jones Industrial Average rose 91.54 points, or 0.38 per cent, to 23,878.99, the S&P 500 gained 10.55 points, or 0.41 per cent, to 2,584.96 and the Nasdaq Composite added 60.08 points, or 0.87 per cent, to 6,957.08.
 
Oil prices dipped on Thursday on swelling US supply, although the mood in global markets was increasingly confident amid hopes the United States and China may soon end trade disputes that have undermined global economic growth.