Market Ahead, November 1: All you need to know before the Opening Bell

A host of domestic and global factors would guide the market trajectory today.

First, markets could react to the contraction in the core output data by record 5.2 per cent. The data released on Thursday after market hours raised concerns of slow economic growth in the second quarter of this fiscal year too.

Furthermore, public sector banks could also react to Sebi's directive stating that all listed lenders will have to make disclosures pertaining to divergences and provisioning within a day of receipt of the RBI’s final risk assessment report. 

On the macro front, Manufacturing PMI for October, foreign exchange reserves data for week ended October 25, and October GST collection figures are scheduled to be released later today.

Besides, sentiment could be dented by the World Trade Organization's verdict against India in a trade dispute with the US. It has ordered to stop all export promotion schemes within the next four months. 

On Thursday, the S&P BSE Sensex hit a fresh lifetime high of 40,392 in the intra-day deals but settled at 40,129, up 77 points or 0.19 per cent, while the Nifty50 added 37 points or 0.31 per cent to end at 11,881.

EARNINGS ALERT

Bank of India, Dr Reddy's Lab, JK Lakshmi Cement, and YES Bank are among the 33 companies scheduled to report their Q2 earnings today.

Analysts expect the Bank to report a loss up to Rs 1,907.3 crore due to exposure to bankrupt companies like DHFL, McLeod Russel, and Cox & Kings. However, all eyes would be on the Board's decision with regards to the receipt of a binding offer worth $1.2 billion by a global investor. 

GLOBAL CUES

Asian shares fell on Friday on fresh concerns over Sino-US trade prospects. Chinese officials doubt that a comprehensive long-term trade deal with Washington and US President Donald Trump is possible, Bloomberg reported.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.09 per cent, while Japan's Nikkei slid 0.63 per cent in early trade.

On Wall Street, the Dow Jones fell 0.52 per cent, the S&P 500 lost 0.30 per cent and the Nasdaq Composite dropped 0.14 per cent during the overnight trade on Thursday.