Markets to see a positive opening as global stocks firm up

Markets are likely to open the session on a positive note following strength in the Asian peers after weak US economic data waned hopes of Fed interest rate hike in the near term. However, a poor start to the earning season with bluechips including TCS and HUL missing street expectations is likely to weigh on the bourses.

GLOBAL STOCKS

Asian shares firmed up after weak US economic data waned hopes of Fed interest rate hike in the near term. Shanghai Composit, Nikkei and Hang Seng are up between 0.7-1.5%.

On Wall Street, the Dow .DJI lost 0.9% and the S&P 500 .SPX shed 0.5% overnight on Wal-Mart's (WMT.N) weak profit forecast and disappointing bank earnings.

 

US retail sales and producer prices data out on Wednesday came lower than expected, supporting growing views that the Federal Reserve would delay hiking interest rates until 2016.

RESULT CALENDER

Prominent companies such as  Mindtree, Mastek, LIC Housing Finance, Sintex, CCL Products, Karur Vysya, Himmatsingka Seide and Lakshmi Vilas Bank are slated to post the results today.

STOCKS ON THE RADAR

Energy majors ONGC and RIL are likely to remain in focus after Degolyer and Macnaughton (D&M)  in its preliminary report, established continuity of reservoirs across oil and gas blocks owned by ONGC and RIL in the KG basin. It has also said some natural gas may have migrated from the state firm's block to one being operated by private explorer RIL. 

Tata Motors is likely to hog limelight after Jaguar Land Rover deliveries in China dropped 32 per cent in the September quarter, according to media reports. Jaguar Land Rover also expects a one-time charge on impact from the Tianjin blast, the e-mail said.

Investigative agencies have traced the Rs 6,000-crore money laundering scam involving Bank of Baroda to 11 accounts of HDFC Bank, said media reports. 

Network18 Media and Investments reported a consolidated net loss of Rs 27.42 crore for the second quarter ended September 30. The company had registered a consolidated net loss of Rs 36.46 crore in the same period a year ago. 

Media firm TV18 Broadcast posted a 53% drop in consolidated net profit to Rs 20.3 crore for the September quarter. The company had registered a net profit of Rs 43.2 crore in the same quarter of the previous financial year.

TCS is in talks with nine of the 11 payments bank licence holders to offer operational solutions, according to a highly placed source at the company.

M&M is planning to introduce five more vehicles in the automotive segment in the current financial year, as it expects industry sales to pick up during October-December, a top company official said on Wednesday. The country's largest utility vehicles maker is also looking to grow its presence in the five-16 tn category truck segment.

FTIL sold its remaining equity stake of 11 per cent in Indian Energy Exchange (IEX) for an undisclosed sum. With this, the company has completed sale of its entire stake and exited from IEX, complying with a Supreme Court’s direction.