Indian Indices:
Indian shares are likely to witness cautious opening as the global cues look mixed with SGX Nifty trading 6 points lower. Indian equity benchmarks may witness a slight gap up opening on Tuesday as investors resort to a cautious approach ahead of a flurry of earning reports from major bluechips and amidst a mixed trend across markets in Asia as speculation that the US Federal Reserve may raise interest rates this year heightens, curbing risk taking appetite.
The SGX Nifty Index Futures for October delivery were trading at 8,728, up by 6 points or 0.07 per cent at 10:28 AM Singapore time, signaling that the Sensex may open with slim gains today.
Global Market:
Most Asian stocks fell as developers and banks declined while investors booked profits after bourses notched up their best weekly performance in a month.
Shanghai Composite rose, Hang Seng fell and Nikkei 225 was trading tad lower after Japan’s exports fell for the 12th straight month in September.
US stocks fell on Friday amid concerns that a stronger dollar may hit corporate earnings but a flurry of deal activity bolstered consumer stocks.
Major Headlines of the day:
• Asian stocks were mixed as latest US manufacturing data bolstered the case for monetary tightening in the near-term.
• A gauge measuring US manufacturing activity shot up from 51.5 in September to 53.2 in October, with a reading above 50 signaling expansion.
• Shanghai Composite was trading with slim losses, Hang Seng fell but Japan’s Nikkei 225 rose as a weaker yen bolstered the appeal of exporter stocks.
• Wall Street surged on Monday boosted by a flurry of deal making activity and encouraging earning reports.
Trend in FII flows: The FIIs were net buyers of Rs -325.13 Cr in the cash segment on Monday while the DIIs were net sellers of Rs 333.26 Cr, as per the provisional figures.
Results Today - Shares of Adani Ports & Special Economic Zone, Axis Bank, Bharti Airtel, Dr Reddy’s Laboratories, HDFC Bank, IDFC Bank, IDBI Bank and Kotak Mahindra Bank will be in focus today as the companies unveil their September quarter earnings..
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