 "Markets likely to remain volatile ahead of the FOMC meet")
Markets are expected to open higher taking cues from the global markets but volatility will stay throughout the session ahead of the 2-day Fed FOMC meet, which commences from today.
On Tuesday, the 30-share Sensex ended at 25,705.93, down by 150.77 points and the 50- share Nifty slipped 43.15 points to close at 7,829.10.
Meanwhile, all eyes are set on the US Fed Reserve, which is expected to raise the short term interest rates for the first time in eight years.
On the currency front, the rupee ended marginally lower by three paise at 66.36 against the US dollar today on fresh demand for the American currency from banks and importers amidst fall in equity markets despite greenback's weakness in overseas markets.
GLOBAL MARKETS
Asian equities rallied on Wednesday, taking positive cues from the overnight rally on the Wall Street. Japan’s Nikkei extended gains and is trading nearly 1% higher whereas Hang Seng is rallying over 1%. Shanghai Composite is up 0.1%.
Overnight, the major indices on Wall Street advanced higher ahead of the most awaited Fed FOMC meeting as well as on the back of a healthy consumer spending data.
The early indicator, SGX Nifty was trading higher by 0.9%.
STOCKS IN FOCUS
Sun Pharma: Sun Pharma is in focus on reports of possible acquisition of US-based eye care specialty company InSite Vision Inc.
ONGC: State-owned petroleum explorer Oil and Natural Gas Corporation (ONGC) announced it would be implementing 12 projects worth a combined Rs 13,000 crore by the end of May 2016, seeking to gain from low oilfield services and equipment costs in the current depressed crude oil price scenario.
Nalco: State-owned National Aluminium Co today said that the ministry of coal has allotted Utkal -D & E coal mines located in Odisha in favour of the company for it to be able to meet its captive requirements at the Angul district.
Orchid Pharma: Orchid Chemicals and Pharmaceuticals Ltd (OCPL) is planning to convert most its Rupee term loans of over Rs 1,500 crore into foreign currency loans, in order to save the higher interest paid at present.
Kotak Mahindra: Kotak Mahindra Old Mutual Life Insurance Ltd is looking at a 25 per cent growth in its new premium business as against the Rs 1,700 crore registered during last year.
Bharti Infratel: With the need for towers expected to decline after spectrum trading and sharing, Bharti Infratel’s growth could come under pressure.
Financial and Banking shares: are in focus ahead of the FOMC meet.
On Tuesday, the 30-share Sensex ended at 25,705.93, down by 150.77 points and the 50- share Nifty slipped 43.15 points to close at 7,829.10.
Meanwhile, all eyes are set on the US Fed Reserve, which is expected to raise the short term interest rates for the first time in eight years.
More From This Section
Back home, the calls for a rate-cut by the Reserve bank of India grows louder on the back of favourable macro-economic data.
On the currency front, the rupee ended marginally lower by three paise at 66.36 against the US dollar today on fresh demand for the American currency from banks and importers amidst fall in equity markets despite greenback's weakness in overseas markets.
GLOBAL MARKETS
Asian equities rallied on Wednesday, taking positive cues from the overnight rally on the Wall Street. Japan’s Nikkei extended gains and is trading nearly 1% higher whereas Hang Seng is rallying over 1%. Shanghai Composite is up 0.1%.
Overnight, the major indices on Wall Street advanced higher ahead of the most awaited Fed FOMC meeting as well as on the back of a healthy consumer spending data.
The early indicator, SGX Nifty was trading higher by 0.9%.
STOCKS IN FOCUS
Sun Pharma: Sun Pharma is in focus on reports of possible acquisition of US-based eye care specialty company InSite Vision Inc.
ONGC: State-owned petroleum explorer Oil and Natural Gas Corporation (ONGC) announced it would be implementing 12 projects worth a combined Rs 13,000 crore by the end of May 2016, seeking to gain from low oilfield services and equipment costs in the current depressed crude oil price scenario.
Nalco: State-owned National Aluminium Co today said that the ministry of coal has allotted Utkal -D & E coal mines located in Odisha in favour of the company for it to be able to meet its captive requirements at the Angul district.
Orchid Pharma: Orchid Chemicals and Pharmaceuticals Ltd (OCPL) is planning to convert most its Rupee term loans of over Rs 1,500 crore into foreign currency loans, in order to save the higher interest paid at present.
Kotak Mahindra: Kotak Mahindra Old Mutual Life Insurance Ltd is looking at a 25 per cent growth in its new premium business as against the Rs 1,700 crore registered during last year.
Bharti Infratel: With the need for towers expected to decline after spectrum trading and sharing, Bharti Infratel’s growth could come under pressure.
Financial and Banking shares: are in focus ahead of the FOMC meet.