 "Markets likely to open lower on global cues")
Indian stocks are likely to open lower on Wednesday amid weak global cues while selling pressure from foreign institutional investors is likely to further dampen sentiment.
At 8:30am, the early indicatos SGX Nifty was down 38 points at 7,744.
Foreign Institutional Investors turned net sellers in equities worth Rs 755 crore on Tuesday, as per provisional stock exchange data.
Asian markets witnessed selling pressure after weak manufacturing data from China and UK raised global growth concerns. Among the major indices, Straits Times and Hang Seng were down 1% each while China's Shanghai Composite was trading flat.
US stocks ended lower after weak manufacturing data from China, the world's second largest economy, fuelled concerns over global growth while drop in crude oil prices also weighed on investor sentiment. The Dow Jones industrial average ended down 0.8% at 17,751, S&P 500 closed 0.9% lower at 2,063 and Nasdaq ended down 1.1% at 4,763.
Stocks in focus
JSW Energy may firm up after the company announced its plans to acquire Jindal Steel & Power's (JSPL) Chhattisgarh power plant for Rs 6,500 crore.
Jindal Steel & Power, Hexaware Technologies and SKS Microfinance will be in focus ahead of their March 2016 quarter earnings later today.
Adani Power may see some weakness after it registered a 14% dip in its standalone net profit for the quarter ended March 31, 2016 at Rs 357.96 crore, as compared to Rs 418.21 crore for the quarter ended March 31, 2015.
Tata Steel may firm up on reports that metals group Liberty House announced the first firm bid for Tata Steel UK.
Tyre manufacturer major MRF may gain after it posted 13% growth in net profit of Rs 375.90 crore for the quarter ended March 31, 2016 as compared to Rs 332.62 crore for the quarter ended March 31, 2015.
Tube Investments may gain after it posted a net profit of Rs 725.55 crore during the quarter ended March 31, 2016, as compared to Rs 147.52 crore registered during the same quarter of previous fiscal year.
Bharti Airtel may see some action after it’s subsidiary Airtel M-commerce services plan to payments bank operations in the second quarter of current fiscal.
At 8:30am, the early indicatos SGX Nifty was down 38 points at 7,744.
Foreign Institutional Investors turned net sellers in equities worth Rs 755 crore on Tuesday, as per provisional stock exchange data.
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Global Markets
Asian markets witnessed selling pressure after weak manufacturing data from China and UK raised global growth concerns. Among the major indices, Straits Times and Hang Seng were down 1% each while China's Shanghai Composite was trading flat.
US stocks ended lower after weak manufacturing data from China, the world's second largest economy, fuelled concerns over global growth while drop in crude oil prices also weighed on investor sentiment. The Dow Jones industrial average ended down 0.8% at 17,751, S&P 500 closed 0.9% lower at 2,063 and Nasdaq ended down 1.1% at 4,763.
Stocks in focus
JSW Energy may firm up after the company announced its plans to acquire Jindal Steel & Power's (JSPL) Chhattisgarh power plant for Rs 6,500 crore.
Jindal Steel & Power, Hexaware Technologies and SKS Microfinance will be in focus ahead of their March 2016 quarter earnings later today.
Adani Power may see some weakness after it registered a 14% dip in its standalone net profit for the quarter ended March 31, 2016 at Rs 357.96 crore, as compared to Rs 418.21 crore for the quarter ended March 31, 2015.
Tata Steel may firm up on reports that metals group Liberty House announced the first firm bid for Tata Steel UK.
Tyre manufacturer major MRF may gain after it posted 13% growth in net profit of Rs 375.90 crore for the quarter ended March 31, 2016 as compared to Rs 332.62 crore for the quarter ended March 31, 2015.
Tube Investments may gain after it posted a net profit of Rs 725.55 crore during the quarter ended March 31, 2016, as compared to Rs 147.52 crore registered during the same quarter of previous fiscal year.
Bharti Airtel may see some action after it’s subsidiary Airtel M-commerce services plan to payments bank operations in the second quarter of current fiscal.