 "Markets likely to open lower tracking global cues as commodity rout continues")
Markets are expected to open lower mirroring weakness in the global markets as the rout in the crude oil prices coupled with cooling demand from China has unnerved the investors. At 8:30 AM, the early indicator SGX Nifty is trading 0.3% lower
Meanwhile, the prospects of the goods and services tax (GST) Bill being passed by the Upper House seemed to be uncertain once again after Congress created ruckus in Parliament, alleging the ruling party of having a political vendetta against its top leaders.
On Tuesday, the S&P BSE Sensex ended at 25,310, down by 220 points while the Nifty50 settled at 7,702, down by 64 points.
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MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was flat but stood barely above its November trough, a break of which would take it to its lowest level since early October.
Japan's Nikkei .N225 shed 0.6% to hit a three-week low.
Overnight on Wall Street, the S&P 500 .SPX lost 0.7%, with the S&P energy sector .SPNY falling 1.5% in its fifth straight day of declines. The sector has fallen 10.4% since Dec. 1.
The market participants would remain cautious ahead of the crucial US Federal Reserve’s meet next week.
On commodity front, Brent crude dropped below $40/ barrel for the first time since 2009.
STOCKS IN FOCUS
Infosys: As part of its assurance to the United Nations in 2008, Infosys said it would reduce its per capita consumption of power and water by 50% each
Dr. Reddy’s : Dr Reddy's Laboratories informed the Bombay Stock Exchange that it has submitted response to the US Food and Drug Administration (USFDA) on Monday. This was in reply to the critical observations made in respect of three of the company's manufacturing facilities by the US drug regulator in a warning letter issued to the company on November 5.
Bharti Airtel: Airtel to roll out 4G services in Rajasthan in few days
Yes Bank: YES Bank has announced it would mobilize $5 billion towards climate finance by 2020 to help India meet its target of Intended Nationally Determined Contributions (INDCs).
Gati: Gati, a Hyderabad-based express distribution and supply chain solutions company, is working towards floating an online e-commerce marketplace venture
Havells India: According to media reports, Havells may divest its majority stake in European lighting systems and fixtures company Sylvania, which it acquired in 2007 and became a global player.
With Reuters input
