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Market Ahead, September 16: All you need to know before the opening bell

Market participants are likely to primarily focus on individual stocks. They will also track RBI Governor's address to Ficci members today at 11 AM

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Market Ahead | Markets

BS Web Team  |  New Delhi 

The Indian are likely to open lower today, as indicated by the SGX Nifty which was trading 26 points lower at around 7:30 AM. This comes amid mixed trend in the Asian with investors awaiting the Federal Reserve's view on the economy at the end of its policy meeting later today.

Australian S&P/ASX 200 index gained half a per cent in early trading, but Japan’s Nikkei and Hong Kong's Hang Seng were flat.. Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan closed 0.65% higher on Tuesday.

In the overnight trade, US stocks ended off their session highs. The Nasdaq added 1.2 per cent, the S&P500 index gained half a per cent, while the Dow Jones closed little changed.

Back home, market participants will eye these global cues but are likely to primarily focus on individual stocks. They will also track RBI Governor's address to Ficci members today at 11 AM. Besides, Covid-19 trends, and newsflow on the India-China front will be keenly monitored especially after Defence Minister Rajnath Singh said the border issue with China "remains unresolved" and that the country is prepared for "all contingencies".

With the addition of over 81,000 new cases yesterday, India's coronavirus tally has now surpassed the 50-lakh mark while the death toll stands at 82,091, according to Worldometer.

Besides, the new margin penalty system will be implemented from today according to which stock brokers will have to collect margins from investors upfront for any purchase of sale of shares and failure to do so will attract penalty.

On the results front, low-cost airline SpiceJet reported a pre-tax loss of Rs 593.4 crore in the first quarter of the current financial year on account of suspension of flight operations for a major part of the quarter. Meanwhile, Future Enterprises Ltd's consolidated net loss expanded to Rs 322.92 crore for the quarter. The stocks of both these companies will react today.

And now a quick look at some stock-specific

Aurobindo Pharma is set to trade actively today after the company announced its collaboration with Council of Scientific and Industrial Research to develop vaccines to protect against Covid-19.

Sebi has allowed extension of closure of Hexaware's delisting offer to September 16. The voluntary delisting process of Hexaware Technologies from the BSE and the NSE had started on September 9 with a floor price of Rs 264.97 per share and was slated to close on September 15.

Indiabulls Housing Finance on Tuesday said Brickwork Ratings has assigned short-term rating of A1 plus to the company, signifying adequate degree of safety and low credit risk. and the long-term rating has been reaffirmed at AA plus.

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First Published: Wed, September 16 2020. 08:11 IST
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