Markets may continue to remain volatile but trade in the positive territory on Tuesday as indices are likely to consolidate with a positive bias. According to analysts at Anand Rathi Shares and Stock Brokers, there is a high probability of a downside till 11,183 in the short term if the swing high of 11,425 levels isn't taken off.
Corporate results of India Inc will be among the key factors guiding today's trade. Wipro, ACC, and Reliance Industrial Infra are among the 17 companies that are slated to report their Sept quarter earnings today.
On the macro-front, Balance of Trade data for the month of September will also be released later in the day. Investors may also react to consumer inflation print, released post market hours on Monday, which came in at a 14-month high of 3.99 per cent.
That apart, stock-specific developments, oil price movement, the value of rupee against the dollar and fund flow by FPIs and DIIs will steer the indices.
Trends on SGX Nifty suggest a tepid start to the Indian equities market. The Singaporean Exchange for Nifty Futures was trading 21 points higher at around 7 am.
Globally, Asian stocks and Wall Street futures inched higher on Tuesday as some investors held out hope that Britain still had a chance to avoid a messy exit from the European Union. The gains were, however, capped by the dearth of details around 'Phase-1' of the trade deal between the US and China. Also, US President Donald Trump imposed sanctions on Turkey on Monday due to its military incursion in Syria.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.01 per cent, Australian shares were up 0.12 per cent, while Japan's Nikkei stock index rose 1.38 per cent.
On Wall Street, indices settled lower during the overnight trade on Monday. The Dow Jones slipped 0.11 per cent, the S&P500 dipped 0.14 per cent, and the Nasdaq Composite settled 0.10 per cent lower.
Back home, the benchmark S&P BSE Sensex ended at 38,214 level, up 87 points or 0.23 per cent, while the broader Nifty50 index ended at 11,341-mark, up 36 points or 0.32 per cent on Monday.
In the commodities market, Oil prices lost about 2 per cent on Monday on worries that global crude demand could continue to stay under pressure. Brent Crude Futures were trading tad bit higher the $59 per barrel mark in the early trade.
Top headline and stocks that will remain in focus
>> FMCG major HUL reported a 21 per cent YoY growth in net profit at Rs 1,848 crore in the Sept quarter of the current fiscal, sales improved by 6 per cent.
>> Huawei India CEO told Business Standard in an interview, that it wants to tie up with Reliance Jio
>> Tata Sons plans to reduce debt, step up investments with TCS dividend
>> YES Bank completely exits Fortis Healthcare, sells 6.6% stake in a bulk deal
>> BSE to suspend trading in Manpasand Beverages, Binani Industries, and 14 others from November 4 due to non-disclosure of quarterly results