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Market Ahead, October 10: All you need to know before the Opening Bell

TCS is expected to benefit from a weaker rupee and stronger North American growth in the quarter.

BS Web Team  |  New Delhi 

Market cues before today's trading session --

September quarter earnings, global cues, oil price movement, the value of rupee against the dollar and foreign fund flow will decide market trajectory today.

A total of 6 companies are scheduled to release their September quarter earnings today. Investors will pay special attention to the TCS and Indusind Bank results. According to analysts, TCS is expected to benefit from a weaker rupee and stronger North American growth in the quarter.

Globally, a report that the Chinese delegation was planning to leave Washington after just a day of minister-level meetings, instead of as originally planned on Friday may dent investor sentiment.

On Wednesday, benchmark indices snapped 6-day losing streak on the back of a surge in bank stocks. The S&P BSE Sensex rose by 646 points or 1.72 per cent to close at 38,177.95 levels, while the broader Nifty50 index settled at 11,313.30-mark, up 187 points or 1.68 per cent.

The rupee dipped 5 paise over its previous close to 71.07 against the US dollar.

Now, let's see how the global have fared.

On Wall Street, Microsoft led the Dow’s gain which advanced 2 per cent, while the S&P 500 and and the Nasdaq Composite gained around 1 per cent each. Asian stocks tumbled in early trade on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.31 per cent while Japan's Nikkei slip 0.11 per cent.

Early trend on SGX Nifty is also indicating a negative start to the day for domestic indices.

In the commodities market, Brent Crude Futures were trading at $58.32 per barrel mark.

Top headlines for the day --

>> Weak rupee might aid TCS to advance its September quarter earnings

>> RBI blocks the merging of Indiabulls Housing and Lakshmi Vilas Bank, making another bank in the row to face struggles in an already troubled sector.

>> Apparel retailers' Q2 profit earnings likely to remain under pressure due to high discounts and weak consumer sentiment.

First Published: Thu, October 10 2019. 08:28 IST
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