 "Weak global peers may push markets lower; 10 stocks in focus")
Markets are likely to witness subdued trend in trades today following weakness among global peers. The early indicator, SGX Nifty has slipped 31 points at 7,879 levels.
On Tuesday, benchmark share indices ended higher, amid firm overseas cues, led by energy shares tracking a rally in global crude oil prices.
Asian shares weakened on Wednesday after strong U.S. inflation data and comments from Federal Reserve officials rekindled prospects of the central bank raising rates later this year.
Wall Street sold off on Tuesday as investors boosted their bets on the Federal Reserve raising rates later this year, while Home Depot dragged on indexes following its quarterly report.
The Dow Jones industrial average fell 180.73 points, or 1.02%, to 17,529.98, the S&P 500 lost 19.45 points, or 0.94%, to 2,047.21 and the Nasdaq Composite dropped 59.73 points, or 1.25%, to 4,715.73.
Besides, oil prices were trading near 2016 highs on Wednesday, as supply disruptions and output cuts continued to tighten the market, although traders cautioned that high global crude inventories were still weighing on markets.
Back home, Tata Communications, Punjab National Bank, JSW Steel, Corporation Bank, PTC India will announce their fourth quarter results today.
For the first time in nine years, India's consumer confidence index has soared to levels of 134 for the March 2016 quarter, pointing to optimism that people here feel about job prospects, personal finance and spending
CORPORATE NEWS
State Bank of India (SBI) may merge its five associate banks and Bharatiya Mahila Bank (BMB) with itself to emerge as a financial behemoth, with assets worth Rs 37 lakh crore ($550 billion).
The Tata group is set to launch its e-commerce venture on May 27 under the brand name, Tata CLiQ. Initially, the e-tail venture would offer apparel, electronics and footwear products. Gradually, new categories will be added.
Syndicate Bank on Tuesday reported fourth quarter losses of Rs 2,158.17 crore after it wrote off Rs 882.64 crore because of a major fraud at three of its branches in Jaipur in the past four years.
United Bank of India posted a net loss of Rs 413.04 crore for the quarter ended March 31, 2016.
The Competition Appellate Tribunal (Compat) on Tuesday set aside the Rs 1,773-crore penalty imposed on Coal India by the Competition Commission of India (CCI).
Srei Infrastructure is looking to raise Rs 750-1,200 crore by diluting stake in Bharat Road Network Limited (BRNL), as part of the lender’s strategic investment portfolio.
Tata Steel, the country's largest steel producer, has recalled its plan sent to the Bombay High Court for a merger of Tata Metaliks and Tata Metaliks DI Pipes with itself.
Petronet LNG (PLL), India’s largest state-owned natural gas importer, on Tuesday posted a 20 per cent decline in net profit in the quarter ended March (Q4), on account of reversal of tax expenses that had jacked up profit in the corresponding quarter in financial year 2014-15.
Ashok Leyland has received patent for an invention related to lightweight composite articles suitable for making structures for use in automobile industry, aerospace industry and for domestic panels.
Consumer goods major GSK Consumer Health care posted Rs 181 crore net profit during the quarter ended March 31, compared to Rs 197 crore during the same quarter last year.
With Reuters input
On Tuesday, benchmark share indices ended higher, amid firm overseas cues, led by energy shares tracking a rally in global crude oil prices.
ALSO READ: Today's picks: 18 May 2016
Asian shares weakened on Wednesday after strong U.S. inflation data and comments from Federal Reserve officials rekindled prospects of the central bank raising rates later this year.
Wall Street sold off on Tuesday as investors boosted their bets on the Federal Reserve raising rates later this year, while Home Depot dragged on indexes following its quarterly report.
The Dow Jones industrial average fell 180.73 points, or 1.02%, to 17,529.98, the S&P 500 lost 19.45 points, or 0.94%, to 2,047.21 and the Nasdaq Composite dropped 59.73 points, or 1.25%, to 4,715.73.
Besides, oil prices were trading near 2016 highs on Wednesday, as supply disruptions and output cuts continued to tighten the market, although traders cautioned that high global crude inventories were still weighing on markets.
Back home, Tata Communications, Punjab National Bank, JSW Steel, Corporation Bank, PTC India will announce their fourth quarter results today.
For the first time in nine years, India's consumer confidence index has soared to levels of 134 for the March 2016 quarter, pointing to optimism that people here feel about job prospects, personal finance and spending
CORPORATE NEWS
State Bank of India (SBI) may merge its five associate banks and Bharatiya Mahila Bank (BMB) with itself to emerge as a financial behemoth, with assets worth Rs 37 lakh crore ($550 billion).
ALSO READ: Govt chooses SBI to kick off bank merger
The Tata group is set to launch its e-commerce venture on May 27 under the brand name, Tata CLiQ. Initially, the e-tail venture would offer apparel, electronics and footwear products. Gradually, new categories will be added.
Syndicate Bank on Tuesday reported fourth quarter losses of Rs 2,158.17 crore after it wrote off Rs 882.64 crore because of a major fraud at three of its branches in Jaipur in the past four years.
United Bank of India posted a net loss of Rs 413.04 crore for the quarter ended March 31, 2016.
The Competition Appellate Tribunal (Compat) on Tuesday set aside the Rs 1,773-crore penalty imposed on Coal India by the Competition Commission of India (CCI).
Srei Infrastructure is looking to raise Rs 750-1,200 crore by diluting stake in Bharat Road Network Limited (BRNL), as part of the lender’s strategic investment portfolio.
Tata Steel, the country's largest steel producer, has recalled its plan sent to the Bombay High Court for a merger of Tata Metaliks and Tata Metaliks DI Pipes with itself.
Petronet LNG (PLL), India’s largest state-owned natural gas importer, on Tuesday posted a 20 per cent decline in net profit in the quarter ended March (Q4), on account of reversal of tax expenses that had jacked up profit in the corresponding quarter in financial year 2014-15.
Ashok Leyland has received patent for an invention related to lightweight composite articles suitable for making structures for use in automobile industry, aerospace industry and for domestic panels.
Consumer goods major GSK Consumer Health care posted Rs 181 crore net profit during the quarter ended March 31, compared to Rs 197 crore during the same quarter last year.
With Reuters input