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Markets are likely to open marginal lower tracking weakness in their Asian peers with major focus on Reserve Bank of India's monetary policy review later today.
The early indicator SGX Nifty was down 24 points at 7,985.
The civil unrest in Hong Kong and a private survey of manufacturing data from China later today weighed on the Asian markets on Tuesday. Meanwhile, HSBC will release the China manufacturing data in September later today while the official data is due on Wednesday. Shares in Japan continued to trade weak with Nikkei down 1.5% while Hang Seng lost 1.4% and Straits Times was down 0.8%. However, share in China were trading with marginal gains.
Benchmark US share indices ended lower on Monday weighed down by the ongoing civil unrest in Hong Kong and growth concerns in China. The Dow Jones ended down 0.25% at 17,071.22, the broader S&P 500 also lost 0.25% to close at 1,977.80 and the tech-laden Nasdaq ended 0.14% lower at 4,505.85.
Stocks to watch
The trend in rate-sensitive sectors such as banking, auto, capital goods and realty sectors will be dicated by RBI's stance on key policy rates.
DCB will be in focus after the board approved raising of funds up to Rs 275 crore via QIP and the floor price of the said QIP based on the pricing formula as per current regulations is fixed at Rs 86.45 per equity share.
Strides Arcolab will be in focus after the Bangalore-based mid-size publicly-held pharmaceutical company, will acquire Chennai-based Shasun Phamaceutical in an all-stock transaction. The combined entity will have revenues of Rs 2,500 crore. As part of this acquisition, shareholders of Shasun will get five equity shares of Strides in lieu of 16 Shasun shares.
IDFC will be in action IDFC after it signed a share purchase agreement with real estate funds managed by Blackstone for sale of 100% stake of IDFC in its subsidiary companies namely Galaxy Mercantiles Limited (an IT park in Noida) and Neopro Technologies Private Limited (a SEZ in Pune).
HDIL will see some activity on reports that the company has revoked all the pledged equity shares with IL&FS Trust Co.
Tata Chemicals may gain on reports that the company's US-based arm has signed long-term coal supply pact with Westmoreland.
