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Market Ahead, Nov 13: Top factors you need to know before the Opening Bell

Vodafone Idea will be in focus today after the firm's global CEO Nick Read said the group's Indian venture may be headed for liquidation unless the government lower license fees

Topics
Market Ahead | Markets | Vodafone

BS Web Team  |  New Delhi 

A total of 696 companies including Pidilite, BHEL, Cadila Healthcare are scheduled to announce their September quarter numbers today.

Another important factor is the release of India's CPI inflation data for the month of October.

Apart from this, Idea will be in focus today after the firm's global CEO Nick Read said the group's Indian venture may be headed for liquidation unless the government eases off on demands for mobile spectrum fees.

Also, IT-major Infosys may react to another anonymous letter, levelling several personal allegations against CEO Salil Parekh

Global cues for the day:

Asian stocks fell in Wednesday's early trade on growing worries that US-China trade talks are stalling after President Donald Trump failed to deliver any new information about when the two countries would sign a trade deal. Trump also rattled some investors by threatening China with even more tariffs if they do not sign a deal.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 per cent, Australian shares were down 0.17 per cent, while Japan's Nikkei stock index slid 0.38 per cent. On the Wall Street, the Dow Jones Industrial Average ended flat, while the S&P 500 gained a marginal 5 points. The Nasdaq Composite added 22 points. In early trade, SGX Nifty was trade with 26 points cut, indicating a negative start for the domestic indices.

In commodities. oil prices ended Tuesday little changed. Brent crude futures ended the session down 12 cents at $62.06 a barrel.

In the last session, the benchmark S&P BSE Sensex closed with a gain of 21 points at 40,345 levels. On the NSE, the Nifty50 managed to close above the psychological mark of 11,900, at 11,913, up 5 points.

For today, analysts say the daily, as well as weekly momentum indicator MACD, is well in the buy mode for Nifty and the index is likely to inch towards 12,200 till 11,694 levels are held.

Here's a trading idea by Anand Rathi Shares and Stock Brokers. Buy Bank of Baroda at current market price for the target of Rs 105 with stop-loss placed at Rs 91.50.

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First Published: Wed, November 13 2019. 07:35 IST
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