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Markets are likely to open lower as investors remain cautious on continuous fund outflows on reports stating that MSCI may include China A shares in its emerging markets index after resolving certain issues. A rebound in the crude prices has further hurt the sentiments.
China A shares are stocks that are denominated in yuan and are traded on Shanghai and Shenzhen stock exchanges.
Meanwhile, US stocks edged lower on fears of interest rate hike by the Federal Reserve sooner rather than later in view of upbeat economic data. Following the tandem, Asian shares barring Shanghai Composite made a tentative rebound from three-month lows on Wednesday though the specter of higher borrowing costs in the United States and concerns about the apparent lack of progress in talks between Greece and its creditors sapped confidence.
STOCKS ON THE RADAR
Realty major, DLF entered into an agreement with PVR to sell off its exhibition business DT Cinemas on a slump sale basis for nearly Rs 500 crore.
Sun Pharma Advanced Research Company ( SPARC) has licensed out Xelpros, a preservative-free eye drop, to a subsidiary of Sun Pharma for the US market.
The Securities and Exchange Board of India (Sebi) has rejected Multi Commodity Exchange (MCX)'s request to increase its stake in Metropolitan Stock Exchange of India (MSEI, formerly known as MCX-SX).
Wipro may acquire Equiniti, UK-based back-office services provider that manages pensions of millions of UK civil servants, British television channel Sky News said on Monday.
Engineering conglomerate, Larsen & Toubro has formed a new unit to cater to smart cities, security solutions and communication projects, hoping the business to increase to $1 billion in three to four years, driven by the government's push in these areas.
Tyre stocks are likely to remain in focus as rise in temperature and poor monsoons have affected the production natural rubber in most of the growing areas in Kerala resulting in a shortage of the commodity.
