 "Markets likely to open lower on weak Asian cues")
Markets are likely to open lower tracking weakness in Asia and sluggish overnight cues from Wall Street.
At 8:30am, the SGX Nifty was down 0.5% at 7,750.
Foreign institutional investors were net buyers in equities to the tune of Rs 4,057 crore on Thursday, as per provisional stock exchange data.
Eight core sector industries surged to a 15-month high of 5.7 per cent in February 2016, almost double the 2.9 per cent of January 2016. These industries had expanded by 2.3 per cent in February 2015. Official data issued on Thursday showed only one segment, steel, had a fall in February output against three — crude oil, natural gas and steel — in January.
GLOBAL MARKETS
Asian markets were trading lower with Japanese shares declining the most after weak PMI data for March while China's manufacturing data indicated expansion in March for the first time in nine months. Japan manufacturing PMI eased to 49.1 in March. Japan's benchmark Nikkei was down 2.9% while China's Shanghai Composite eased 0.4%. Among others in the region, Straits Times and Hang Seng were down 0.8% each.
US stocks ended lower on profit taking after gains in the previous session and caution ahead of non-farm payrolls data on Friday. Meanwhile, jobless claims in the US registered a rise as per the data released on Thursday. The Dow Jones industrial average ended down 0.2% at 17,685, the S&P 500 eased 0.2% at 2,060 while the tech-laden Nasdaq ended flat at 4,870.
STOCKS IN FOCUS
UltraTech Cement will be in focus after the cement major agreed to buy Jaiprakash Associates' 21.2 million tonnes per annum (mtpa) cement capacity for Rs 15,900 crore on Thursday.
Auto shares will be in focus ahead of their March sales numbers. Further, diesel car makers such as Tata Motors and M & M may see some pressure after the court extended the ban on registration of diesel vehicles with engine capacity of 2000cc and more in the National Capital Region till further orders.
HCL Technologies will be in focus on reports that the IT major has agreed to acquire Mumbai-based Geometric in a share swap deal that values it at $150-200 million.
Bharat Wire Ropes will list today. The issue was priced at Rs 45/share. The company plans to use the proceeds of the issue for setting up a manufacturing plant at Chalisgaon in Maharashtra and for other general corporate purposes.
JSW Steel may see some weakness after rating agency CARE revised its long term rating for the bank facilities and non-convertible debentures of the company downward by one notch from "CARE AA" to "CARE AA-".
KEC International may firm up after the company said it has won orders worth Rs 836 crore in its Transmission & Distribution and Cable businesses.
Aurobindo Pharma, Bharti Infratel, Eicher Motors and Tata Motors Ltd. (DVR) will be in focus on inclusion in the Nifty50 index while Cairn India, Punjab National Bank and Vedanta will be excluded from the index with effect from today, 1 April 2016.
At 8:30am, the SGX Nifty was down 0.5% at 7,750.
Read more from our special coverage on "MARKETS"
Foreign institutional investors were net buyers in equities to the tune of Rs 4,057 crore on Thursday, as per provisional stock exchange data.
Eight core sector industries surged to a 15-month high of 5.7 per cent in February 2016, almost double the 2.9 per cent of January 2016. These industries had expanded by 2.3 per cent in February 2015. Official data issued on Thursday showed only one segment, steel, had a fall in February output against three — crude oil, natural gas and steel — in January.
GLOBAL MARKETS
Asian markets were trading lower with Japanese shares declining the most after weak PMI data for March while China's manufacturing data indicated expansion in March for the first time in nine months. Japan manufacturing PMI eased to 49.1 in March. Japan's benchmark Nikkei was down 2.9% while China's Shanghai Composite eased 0.4%. Among others in the region, Straits Times and Hang Seng were down 0.8% each.
US stocks ended lower on profit taking after gains in the previous session and caution ahead of non-farm payrolls data on Friday. Meanwhile, jobless claims in the US registered a rise as per the data released on Thursday. The Dow Jones industrial average ended down 0.2% at 17,685, the S&P 500 eased 0.2% at 2,060 while the tech-laden Nasdaq ended flat at 4,870.
STOCKS IN FOCUS
UltraTech Cement will be in focus after the cement major agreed to buy Jaiprakash Associates' 21.2 million tonnes per annum (mtpa) cement capacity for Rs 15,900 crore on Thursday.
Auto shares will be in focus ahead of their March sales numbers. Further, diesel car makers such as Tata Motors and M & M may see some pressure after the court extended the ban on registration of diesel vehicles with engine capacity of 2000cc and more in the National Capital Region till further orders.
HCL Technologies will be in focus on reports that the IT major has agreed to acquire Mumbai-based Geometric in a share swap deal that values it at $150-200 million.
Bharat Wire Ropes will list today. The issue was priced at Rs 45/share. The company plans to use the proceeds of the issue for setting up a manufacturing plant at Chalisgaon in Maharashtra and for other general corporate purposes.
JSW Steel may see some weakness after rating agency CARE revised its long term rating for the bank facilities and non-convertible debentures of the company downward by one notch from "CARE AA" to "CARE AA-".
KEC International may firm up after the company said it has won orders worth Rs 836 crore in its Transmission & Distribution and Cable businesses.
Aurobindo Pharma, Bharti Infratel, Eicher Motors and Tata Motors Ltd. (DVR) will be in focus on inclusion in the Nifty50 index while Cairn India, Punjab National Bank and Vedanta will be excluded from the index with effect from today, 1 April 2016.