 "Flat-to-positive opening seen on mixed global cues")
Markets are likely to open on a flat-to-positive note tracking mixed global cues as investors keenly await for of the crucial Bank of Japan policy meeting. However, a rebound in the oil prices has lifted the trading sentiments and allowed the Hong Kong shares to jump nearly 1%. Meanwhile, a mixed closing on the Wall Street was witnessed overnight as investors prepare themselves for the Earnings season.
The IMF today forecast a lower global growth of 3.1 per cent this year citing modest pickup in advanced economies and a slowdown in emerging markets, primarily reflecting weakness in some large developing nations and oil-exporting countries.
STOCKS TO WATCH
ICICI Bank reduced its home loan rate by 25 basis points, following its peers SBI and HDFC.
Sun Pharmaceutical is seeking approval of its shareholders through a postal ballot earmarking of up to Rs 50,000 crore for the purpose of acquisitions or providing loans, among others.
Arvind aims to make its premium fabric brand Tresca worth Rs 250 crore business by 2020, a fivefold jump from its current size.
Axis Bank launched a new slab for its home loan borrowers with offers starting at 9.60% onward.
Bank of Maharashtra Ltd: The bank said it has received shareholders' approval to raise Rs 394 crore by issuing 10.51 crore equity shares on preferential basis to the government.
ONGC and RIL are likely to remin in focus as the much-awaited report of the technical consultant on the dispute related to natural gas reserves in the Krishna-Godavari (K-G) basin between these two companies is set to be delayed by a few weeks to a month.
GLOBAL MARKET
A mixed trend is observed among the Asian peers as investors keenly await for the crucial Bank of Japan policy meeting. However, a rebound in the oil prices has lifted the trading sentiments and allowed the Hong Kong shares to jump nearly 1%. On the flip side, Nikkei is trading cautiously and is down 0.2%. Chinese benchmark index Shanghai Composite continues to remain closed today.
Meanwhile, a mixed closing on the Wall Street was witnessed overnight as investors prepare themselves for the Earnings season with the Dow Jones industrial average eking out its first three-day winning streak since Aug 17. The S&P 500 closed 7 points down at 1,980, snapping five straight days of gains.
