The Indian stock markets are expected to open in the red zone as the global cues look unsupportive. SGX Nifty is trading 21.50 points lower.
Events for the day:
Coromandel International, Wipro, ING Vysya Bank, Yes Bank, Cairn India and Indiabulls RealEstate to post quarterly results today
Headlines for the day:
Rallis India Q2 net up 21% at Rs74.75 cr
TCS wins multi-million dollar IT deal from Bombardier
Tata Steel wins contract to supply UK’s Network Rail
Alstom T&D bags Rs105 crore transformer order
Sadbhav Engineering bags Rs263.64 cr project from BCCL
Indian stock markets are set to start the trading day on a flat to negative note as the global cues look unsupportive; investors also look forward to second week of Q2 earnings season which may give direction to the markets.
On Monday (October 21, 2013), the Se nsex closed at 20,893.89, up by 11.00 points, while the Nifty rose by 15.60 points to close at 6,204.95.
Asian shares pulled backed from a five-month high and the dollar stabilized after recent heavy losses as markets waited for US jobs data that could shape expectations as to whether the Federal Reserve will start withdrawing stimulus this year.
US stocks ended little changed on Monday as lackluster earnings reports from McDonald’s and others fed concerns that equities were overpriced after the S&P index’s run to record highs last week.
Reassuring earnings updates from blue-chip companies Philips and SAP enabled a key European equity index to hit a fresh 5-year high on Monday.