Markets may open lower; PMI eyed

Indian Indices:

The key domestic benchmarks may open lower today amid subdued cues from overseas markets. SGX Nifty is trading 7.50 points down.

Investors may also exercise caution ahead of HSBC India manufacturing PMI for the month of September which will offer the latest snapshot of health in Asia’s third biggest economy.

Indian shares edged higher on Tuesday as blue-chips rose on hopes that upcoming earnings and auto sales will show the economy remains on the mend, while the central bank’s decision to keep interest rate unchanged had little impact. The BSE Sensex and the CNX Nifty ended 0.13%-0.07% higher.

On Tuesday (September 30, 2014) 30-share Sensex ended up 33 points at 26,630 and the 50-share Nifty closed 6 points up at 7,965.

Global Market:

Asian shares got off on the back foot on Wednesday as continued civil unrest in Hong Kong sapped confidence, while the dollar index was in sight of a four-year high after marking its best quarterly gain in six years.

U.S. stocks slipped on Tuesday, dragged down by energy and materials shares as economic data disappointed.

European shares rose on Tuesday as a batch of weak inflation data increased the chances the European Central Bank will introduce new stimulus measures to boost the region’s flagging economy.

Major Headlines of the day.

Bhushan Steel’s cup of woes full to the brim.

JSW Steel cuts steel prices for October.

Apollo and Sanofi to jointly expand sugar clinics for diabetics.

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