Weak earnings from Axis Bank may drag market today.
The SGX Nifty indicates a weak start on Dalal Street while global markets are wobbly. Stocks that will be in focus today are Bharti Airtel after positing stable Q2. Axis bank's second quarter numbers disappointed, as provision zoomed and bad loans ballooned, gross NPAs surged to a 5-year high. Index heavyweights ITC, HUL, HDFC and Hero MotoCorp will announce September quarter results today.
The 30-share BSE Sensex was down 87.66 points at 28091.42 and the 50-share NSE Nifty declined 17.65 points to 8691.30 amid mixed set of earnings and ambiguity over Tata-Mistry issue. Varun Beverages IPO will open for subscription today.
Asian shares tumbled in early trade, following in the footsteps of Wall Street, which pulled back on disappointing earnings, while the dollar inched down from a seven-month high and oil prices slid. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3 percent.
Japan's Nikkei lost 0.2 percent, while South Korea's KOSPI dropped 0.8 percent and Australia fell 1.4 percent.
US stocks slipped from two-week highs on Tuesday as results and forecasts from companies in sectors including housing and consumer products failed to live up to expectations. Apple, the largest US company by market capitalization, posted after the bell better-than-expected iPhone sales that however continued a declining trend and shares fell about 2 percent, briefly dragging S&P 500 futures to session lows. The dollar took a breather in early trading, but was still not far from a nearly nine-month peak against a currency basket as expectations for a year-end rate hike by the Federal Reserve remained intact.
Crude oil prices fell 1 percent, with US crude breaking below USD 50 per barrel for a second straight day ahead of weekly data that could show a build in domestic inventories. Gold rose due to rising physical demand from India but growing expectations of a US interest rate hike kept a lid on prices. Gold closed at a three-week high as investors continued to stock up following a recent pullback.
The SGX Nifty indicates a weak start on Dalal Street while global markets are wobbly. Stocks that will be in focus today are Bharti Airtel after positing stable Q2. Axis bank's second quarter numbers disappointed, as provision zoomed and bad loans ballooned, gross NPAs surged to a 5-year high. Index heavyweights ITC, HUL, HDFC and Hero MotoCorp will announce September quarter results today.
The 30-share BSE Sensex was down 87.66 points at 28091.42 and the 50-share NSE Nifty declined 17.65 points to 8691.30 amid mixed set of earnings and ambiguity over Tata-Mistry issue. Varun Beverages IPO will open for subscription today.
Asian shares tumbled in early trade, following in the footsteps of Wall Street, which pulled back on disappointing earnings, while the dollar inched down from a seven-month high and oil prices slid. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3 percent.
Japan's Nikkei lost 0.2 percent, while South Korea's KOSPI dropped 0.8 percent and Australia fell 1.4 percent.
US stocks slipped from two-week highs on Tuesday as results and forecasts from companies in sectors including housing and consumer products failed to live up to expectations. Apple, the largest US company by market capitalization, posted after the bell better-than-expected iPhone sales that however continued a declining trend and shares fell about 2 percent, briefly dragging S&P 500 futures to session lows. The dollar took a breather in early trading, but was still not far from a nearly nine-month peak against a currency basket as expectations for a year-end rate hike by the Federal Reserve remained intact.
Crude oil prices fell 1 percent, with US crude breaking below USD 50 per barrel for a second straight day ahead of weekly data that could show a build in domestic inventories. Gold rose due to rising physical demand from India but growing expectations of a US interest rate hike kept a lid on prices. Gold closed at a three-week high as investors continued to stock up following a recent pullback.
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