 "Markets likely to open lower ahead of US Fed Reserve meet outcome")
Markets are likely to make a lower opening tracking weakness among global peers as investors will remain cautious ahead of the outcome of US Federal Reserve meet due later today.
The early indicator, SGX Nifty has slipped lower by 18 points at 8,228 levels.
On Tuesday, benchmark indices closed lower for the second straight day, amid weak global cues, with capital goods, metal and oil shares leading the decline.
In the macro-economic front, the country's external borrowings fell to a five-year low in the April-September period to $11.8 billion as companies preferred borrowing domestically.
Q2 EARNINGS
Amara Raja Batteries, Ambuja Cement, Dabur India, Exide Inds, H T Media, JSW Energy, Just Dial, K E C International, Pidilite Inds, Shri City Union, Sun TV Network will unveil their second quarter earnings today.
INDIGO IPO
The Rs 3,000-crore initial public offering (IPO) of InterGlobe Aviation, which operates IndiGo, has got off to a good start. On the first day, the 39.5-million share offering was subscribed 86 per cent.
The IPO, the biggest since December 2012, closes on Thursday.
GLOBAL MARKETS
Asian stocks slipped on Wednesday, taking cues from an overnight decline on Wall Street and capped by caution ahead of a policy statement from the US Federal Reserve due later in the day.
The Australian dollar, already on the back foot following a slide in crude oil, dropped to a 3-week low after soft Australian inflation data paved the way for a further rate cut.
MSCI's broadest index of Asia-Pacific shares outside Japan declined by 0.6%. Shanghai stocks dipped 0.1%, Hong Kong's Hang Seng fell 0.3% and South Korea's Kospi dropped 0.3%.
Tokyo's Nikkei bucked the trend and rose 0.6% on bargain hunting following the previous day's fall.
On Wall Street, the Dow fell 0.2% and the S&P 500 retreated 0.3%.
STOCKS TO WATCH
Anil Agarwal-owned Vedanta has ruled out any reworking of the merger terms between oil producer Cairn India and itself.
The government is planning to lower its stake in IDBI Bank as it wants the troubled lender to transform the way Axis Bank did, Minister of State for Finance Jayant Sinha said on Tuesday.
CBI on Tuesday registered a case against REI Agro, on the basis of a complaint by a group of bankers. A group led by UCO Bank had said the company had defrauded the banks of Rs 3,815 crore since 2013, a CBI spokesperson said.
Kanoria Chemicals & Industries has made a re-entry in textile business. It is in talks with H&M, Peter Van Heusen, Velocity, Raymonds and Arvind to sell denim from its plant in Ethiopia.
Bharti Airtel and Eaton Towers have announced conclusion of the sale and purchase of the former’s tower assets in Burkina Faso.
Pharma firm Strides Arcolab posted second quarter profit Rs 18.97 crore on improved business from regulated markets such as United States and Australia.
Fitch withdrew its rating on IDFC Ltd following demerger of the company's financial business into a banking unit, while reaffirming the investment grade it had.
Avantha Group company Crompton Greaves has sold its Canadian Power Transformer (CPT) business to PTI Holdings Corporation for an enterprise value of Canadian dollar 20 million.
With Reuters & BS Reporter input
The early indicator, SGX Nifty has slipped lower by 18 points at 8,228 levels.
On Tuesday, benchmark indices closed lower for the second straight day, amid weak global cues, with capital goods, metal and oil shares leading the decline.
In the macro-economic front, the country's external borrowings fell to a five-year low in the April-September period to $11.8 billion as companies preferred borrowing domestically.
Q2 EARNINGS
Amara Raja Batteries, Ambuja Cement, Dabur India, Exide Inds, H T Media, JSW Energy, Just Dial, K E C International, Pidilite Inds, Shri City Union, Sun TV Network will unveil their second quarter earnings today.
ALSO READ: Today's picks- 28 October 2015
INDIGO IPO
The Rs 3,000-crore initial public offering (IPO) of InterGlobe Aviation, which operates IndiGo, has got off to a good start. On the first day, the 39.5-million share offering was subscribed 86 per cent.
The IPO, the biggest since December 2012, closes on Thursday.
ALSO READ: IndiGo IPO subscribed 86% on Day-1
GLOBAL MARKETS
Asian stocks slipped on Wednesday, taking cues from an overnight decline on Wall Street and capped by caution ahead of a policy statement from the US Federal Reserve due later in the day.
The Australian dollar, already on the back foot following a slide in crude oil, dropped to a 3-week low after soft Australian inflation data paved the way for a further rate cut.
MSCI's broadest index of Asia-Pacific shares outside Japan declined by 0.6%. Shanghai stocks dipped 0.1%, Hong Kong's Hang Seng fell 0.3% and South Korea's Kospi dropped 0.3%.
Tokyo's Nikkei bucked the trend and rose 0.6% on bargain hunting following the previous day's fall.
On Wall Street, the Dow fell 0.2% and the S&P 500 retreated 0.3%.
STOCKS TO WATCH
Anil Agarwal-owned Vedanta has ruled out any reworking of the merger terms between oil producer Cairn India and itself.
The government is planning to lower its stake in IDBI Bank as it wants the troubled lender to transform the way Axis Bank did, Minister of State for Finance Jayant Sinha said on Tuesday.
CBI on Tuesday registered a case against REI Agro, on the basis of a complaint by a group of bankers. A group led by UCO Bank had said the company had defrauded the banks of Rs 3,815 crore since 2013, a CBI spokesperson said.
Kanoria Chemicals & Industries has made a re-entry in textile business. It is in talks with H&M, Peter Van Heusen, Velocity, Raymonds and Arvind to sell denim from its plant in Ethiopia.
Bharti Airtel and Eaton Towers have announced conclusion of the sale and purchase of the former’s tower assets in Burkina Faso.
Pharma firm Strides Arcolab posted second quarter profit Rs 18.97 crore on improved business from regulated markets such as United States and Australia.
Fitch withdrew its rating on IDFC Ltd following demerger of the company's financial business into a banking unit, while reaffirming the investment grade it had.
Avantha Group company Crompton Greaves has sold its Canadian Power Transformer (CPT) business to PTI Holdings Corporation for an enterprise value of Canadian dollar 20 million.
With Reuters & BS Reporter input