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Market Ahead, July 17: All you need to know before the Opening Bell

Investors will track June quarter earnings and global cues in today's trading session.

BS Web Team  |  New Delhi 

Investors will track June quarter earnings and global cues in today's trading session.

India’s fourth-largest software company, Wipro, is scheduled to release its June quarter results today and analysts expect a moderate revenue growth along with a fall in the earnings before interest and taxes (EBIT) margin. Additionally, Mindtree, YES Bank, and 10 other companies are scheduled to announce their June quarter results today.

On Tuesday, the benchmark S&P BSE Sensex rose 0.6 per cent to 39,131 levels, while the broader Nifty50, too, settled 0.6 per cent higher at 11,661 level.

Now, let's see how the global have fared overnight and what they mean for Sensex and Nifty

SGX Nifty is indicating a negative start for the domestic indices.

US President Donald Trump on Tuesday said he could impose more tariffs on China. And although the Fed chief Jerome Powell reiterated his dovish stance, saying the central bank “will act as appropriate to sustain the expansion" to the US growth, Trump's trade comments weighed the indices down. The Dow Jones Industrial Average fell 0.09 per cent to 27,336, the S&P 500 lost 0.34 per cent to 3,004 and the Nasdaq Composite dropped 0.43 per cent to 8,223.

Asian shares drifted lower on Wednesday after a lacklustre performance by Wall Street. Early action was muted with MSCI’s broadest index of Asia-Pacific shares outside Japan off 0.18 per cent. Japan’s Nikkei eased 0.3 per cent and South Korea 0.8 per cent.

Next up are some stock calls by top brokerages:

HDFC Securities recommends buying Biocon at current market price of Rs 258 for a target of Rs 275 with the stop loss at Rs 247

And now, let's go through top headlines for the day -

- 10-year bond yield hits lowest level since demonetisation, closes at 6.33%

- Jet Airways lenders to set rules to weed out casual bidders

- As corporate earnings slow down, brokerages raise red flags on valuation

- Mindtree is not being snatched, coming under bigger tree: L&T CEO & MD S N Subrahmanyan

First Published: Wed, July 17 2019. 08:10 IST
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