Bears may open the week for Indian markets

Events for the day:

HSBC/Markit Manufacturing PMI

A-Group Results: Tata Chemicals, Lupin, Jaiprakash Power Ventures, Divi’s Laboratories and Jaypee Infratech

Headlines for the day:

  • Godrej Consumer Q3 profit jumps 14% to Rs196 cr

  • SPARC Q2 net profit at Rs31 crore

  • Mahindra’s tractor arm sales up 15% in Jan

  • M&M total sales down 14% in January

  • Jindal Steel and Power acquires Andhra-based Kineta Power

Indian Indices:

The Indian stock markets are expected to start the first trading session of the week in the red zone on back of subdued global scenario. SGX Nifty is trading 31.00 points lower.

On Friday (January 31, 2014), the S&P BSE Se nsex closed at 20513.85, up by 15.60 points, while the Nifty rose 15.80 points to close at 6089.50

Global Indices:

Asian shares were slowly giving ground on Monday as strains in emerging markets show little sign of abating, while growing pressure for another policy easing in Europe shoved the euro to 10-week lows.

Stocks on Wall Street ended sharply lower on Friday on lower-than-expected earnings from major corporations such as Walmart and Amazon coupled with the sharp depreciation of emerging markets currencies.

European stocks fell on Friday, posting their first monthly loss since August and knocked by concerns that corporate earnings will be hit by turmoil in emerging markets.