Market Ahead, October 10: All you need to know before the Opening Bell

On Wednesday, benchmark indices snapped 6-day losing streak on the back of a surge in bank stocks. The S&P BSE Sensex rose by  646 points or 1.72 per cent to close at 38,177.95  levels, while the broader Nifty50 index settled at 11,313.30-mark, up 187 points or 1.68 per cent.

The rupee dipped 5 paise over its previous close to 71.07 against the US dollar.

Now, let's see how the global markets have fared.

On Wall Street, Microsoft led the Dow’s gain which advanced 2 per cent, while the S&P 500 and and the Nasdaq Composite gained around 1 per cent each. Asian stocks tumbled in early trade on Thursday.  MSCI's broadest index of Asia-Pacific shares outside Japan eased  0.31 per cent while Japan's Nikkei  slip 0.11 per cent.

Early trend on SGX Nifty is also indicating a negative start to the day for domestic indices.

In the commodities market, Brent Crude Futures were trading at $58.32 per barrel mark.

Top headlines for the day --

>> Weak rupee might aid TCS to advance its September quarter earnings

>> RBI blocks the merging of Indiabulls Housing and Lakshmi Vilas Bank, making another bank in the row to face struggles in an already troubled sector.

>> Apparel retailers' Q2 profit earnings likely to remain under pressure  due to high discounts and weak consumer sentiment.