Market cues before today's trading session --
September quarter earnings, global cues, oil price movement, the value of rupee against the dollar and fund flow by FPIs and DIIs will be the driving force for the markets today.
Markets will resume trading after a day's holiday and will watch out for Q2 results of about 6 companies, including Goa Carbon, that are scheduled to announce results later in the day.
Investors with global equity exposure may eye minutes of the Federal Reserve's September monetary policy meeting scheduled to be released later today. Fed chair Jerome Powell, in a speech on Tuesday, flagged openness to further rate cuts.
On Monday, the S&P BSE Sensex lost 141 points or 0.38 per cent to end at 37,532 levels, while the broader Nifty50 index settled at 11,126-mark, down 48 points or 0.43 per cent.
According to analysts at Anand Rathi Shares and Stock Brokers, the Nifty index continues to form lower tops and lower bottoms, indicating that the bears have an upper hand. After slipping below short-term 20-DMA, Nifty now stares at 50-DMA -- at 11,087 -- for some support. The key support level for Nifty is placed at 11,081.47, followed by 11,036.53.
As per trends on SGX Nifty, indices may see a flat to positive start today.
Global markets were spooked on Wednesday after the U.S. imposed visa restrictions on Chinese officials and the added more Chinese companies to a trade blacklist. Remember, delegations from both the sides are scheduled to meet tomorrow to discuss the year-long trade dispute.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent. Japan's Nikkei slid 0.81 per cent and Australian shares were down 0.92 per cent
On Wall Street, the Dow Jones fell 1.19 per cent, the S&P500 slipped 1.56 per cent, and the Nasdaq Composite declined by 1.67 per cent during the overnight trade on Tuesday.
In the commodities market, Brent Crude Futures were trading at $57.99 per barrel mark.
Top headlines for the day --
>> Q2 Nifty50 earnings could be one of the worst corporate results in recent years despite the corporate tax cut, say analysts
>> S&P says, India's financial sector needs governance overhaul
>> Leading depository CDSL has frozen shareholding of the promoters of debt-ridden DHFL due to a delay in the announcement of the company's financial earnings