Market Ahead, December 31: All you need to know before the Opening Bell
Infosys is likely to be on investors' radar today as the company has said it will release the financial results of the December quarter on January 10
BS Web Team New Delhi
Investors will stay cautious today in the absence of any major trigger points in the market. Hence, the focus is likely to shift to stock-specific developments and global cues for market direction. Market participants will also await the release of the infrastructure output data for November today. Infrastructure output in October contracted for the second consecutive month to 5.8 per cent year-on-year.
Meanwhile, the market's worry over India's fiscal slippage is set to deepen after a report by Dun & Bradstreet's Economy Forecast said that the government might breach the fiscal deficit target this financial year amid drop in the revenue mobilisation and expected additional expenditure by the government. According to the report, the need for fiscal stimulus has increased even as the government finances remain "strained"
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Telecom stocks and Reliance Industries will be in focus today after Trai released the latest Telecom Subscription Data. According to this, Reliance Jio reported a massive growth of 9.1 million subscribers in October. Rivals Vodafone Idea and Bharti Airtel reported subdued numbers with 189,901 and 81,974 additions, respectively.
Infosys is also likely to be on investors' radar today as the company has said it will release the financial results of the December quarter on January 10.
Besides, traders will also take cues from the Rupee's trajectory, oil price movement, and foreign fund flow.
On the global front, stocks on Wall Street fell in their biggest one-day decline in four weeks after a record run. The Dow Jones Industrial Average fell 0.64 per cent. The S&P 500 lost 0.58 per cent, and the Nasdaq Composite dropped 0.67 per cent. The SGX Nifty was trading lower early on Tuesday, indicating a subdued start for the domestic indices.
Back home, equity markets ended Monday's session on a flat note. The S&P BSE Sensex lost 17 points to settle at 41,558 and the NSE's Nifty closed at 12,261, up 15 points.
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Topics :MarketsMarket Ahead
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First Published: Dec 31 2019 | 7:58 AM IST