Indian Indices:
Indian shares are likely to witness slightly higher opening as the global cues look supportive with SGX Nifty trading 21.50 points lower. Indian equity benchmarks are likely to open little changed, with a positive bias on Monday tracking a soft trend across markets in Asia as traders stuck to a cautious approach amidst a busy week for earnings results across the US, Japan and China, which will offer cues over the health of the global economy.
The SGX Nifty Index Futures for October delivery were trading at 8,707.5, up by 5 points or 0.06 per cent at 10:16 AM Singapore time, signaling that the Sensex may witness a slight gap up opening today.
This week, shares of Adani Power, Axis Bank, Idea Cellular, Reliance Capital, Asian Paints, Bharti Airtel, Dr Reddy's, HDFC Bank, HDFC, Hero MotoCorp, HUL, ITC, IOC, Maruti Suzuki India and ONGC will be in focus as the companies unveil their September quarter earnings.
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:
• IDFC Alternatives buys 3 Punj Lloyd solar projects
• Lok Capital divests stake of around 3% in Ujjivan Financial
• ICICI, Axis, StanChart get back $2.5 billion of Essar loans
• Apollo Tyres setting up 475mn euro plant in Hungary
Trend in FII flows: The FIIs were net buyers of Rs -272.92 Cr in the cash segment on Friday while the DIIs were net sellers of Rs 500.37 Cr, as per the provisional figures.
UPCOMING RESULTS: L&TFINANCE,RELCAP,THYROCARE,MAHINDRACIE,INFRATEL,IDEA,ADANIENT,IBREALEST,ADANIPOWER,KPRMILL,TATAMETALI.
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