Markets to open lower on Asia sell-off

Indian Indices:

The key domestic benchmarks are likely to open lower today tracking a bearish trend in fellow Asian peers as concerns over a slowing global economy mar sentiment, curbing the appetite for risky assets. SGX Nifty is trading 26 points down.

Caution may prevail ahead of the start of the Q2 earnings season on Friday when Infosys will unveil its September quarter results.

The BSE Sensex fell for a second straight session on Tuesday, marking their lowest closing level in nearly two months, as cyclical stocks such as Hindalco Industries declined ahead of the earnings season.

On Tuesday (October 01, 2014) 30-share Sensex ended down by 296.02 points at 26271.97 and the 50-share Nifty slipped 93.15 points to close at 7852.40.

Global Market:

Asian stocks fell on Wednesday as worries about waning global growth lifted safe-haven bonds and the yen, while shoving oil prices to their lowest in more than two years.

US stocks ended sharply lower on Tuesday, with major indexes falling 1 percent in heavy trading, as weak data out of Germany raised concerns about the strength of global growth ahead of the start of earnings season.

A key European equity index dropped to a 1 1/2-month low on Tuesday as the International Monetary Fund cut its growth estimates for the euro zone’s three largest economies and German industrial output data disappointed.

Major Headlines of the day.

L&T-Dell deal gets Competition Commission’s nod.

UltraTech eyes Jaypee’s three cement plants in Madhya Pradesh

HP split can be a long-term positive for MphasiS.

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