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Market Ahead, April 16: All you need to know before the Opening Bell

All eyes will be on Wipro on Tuesday as the IT major reports its FY19 March quarter results.

BS Web Team  |  New Delhi 

All eyes will be on Wipro on Tuesday as the IT major reports its FY19 March quarter results. Analysts expect the company to report 1-1.5 per cent quarter-on-quarter (QoQ) growth in revenues in constant currency (CC) terms, in line with the company's 0-2 per cent guidance for the quarter.

Wipro's board will also consider a buyback proposal worth Rs 12,000 crore, for which it recently received approval from SEBI.

Apart from these factors, investors will also track closely other stock-specific action, movement of against the US dollar, oil prices and FII inflows.

On the global front, reports said that America could stop insisting China ended industrial subsidies that gave weight to the optimism that Washington and Beijing could reach a trade truce.

The domestic equity market ended in the positive territory on Monday. The S&P BSE Sensex gained 139 points or 0.36 per cent to settle at 38,906 while the broader Nifty50 index of the National Stock Exchange (NSE) ended at 11,690, up 47 points or 0.40 per cent.

GLOBAL CUES

Asian stocks hovered below a nine-month peak on Tuesday after disappointing bank earnings dented Wall Street, though recent signs the global economy is likely to avoid a sharper downturn helped limit the losses.

MSCI’s broadest index of Asia-Pacific shares outside Japan stood little changed. Japan’s Nikkei nudged up 0.25 per cent.

STOCKS TO WATCH

Jet Airways: A crucial meeting of the company's board of directors is scheduled for Tuesday after banks refused emergency interim funding to the airline. According to reports, Jet Airways is "left with no cash, a seven-plane fleet and fuel to run operations only till Tuesday afternoon".

Wipro: The IT major will announce its Q4FY19 results

Hathway Cable reported 9.1 per cent dip in revenue to Rs 132.4 crore YoY in its Q4 results on Monday

Syndicate Bank cuts MCLR rate by 5 bps across all tenures.

Deepak Fertilisers starts commercial production of nitric acid plant in Gujarat's Dahej

Suven Life Sciences gets US court's approval to buy assets of Rising Pharmaceuticals.

First Published: Tue, April 16 2019. 07:49 IST
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