MARKETS LIVE: Investors await Wipro\, Bajaj Auto Q2 earnings

MARKETS LIVE: Investors await Wipro, Bajaj Auto Q2 earnings

catch all the live market action here

SI Reporter  |  New Delhi 

Bonds, Stock markets, Shares, Trading
Bonds, Stock markets, Shares, Trading

Oil check   Brent crude futures traded at $76.53 per barrel after dropping more than 4 percent on Tuesday to $75.88, their lowest since Sept. 7.   Crude slid after Saudi Arabia said it could supply more crude quickly if needed, easing concerns ahead of U.S. sanctions on Iran. The recent sell-off in global equities has also raised worries about slowing growth curbing demand for crude. SGX Nifty   Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 55 points or 0.54 per cent. Nifty futures were trading around 10,227- level on the Singaporean Exchange. Asia stocks edge up as Wall Street shows resilience   Asian stocks edged lower on Wednesday as concerns, ranging from worries about US corporate earnings to Middle East tensions, weighed on sentiment while crude oil approached two-month lows after Saudi Arabia flagged possible supply increases.   MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2 per cent, extending the decline of more than 2 per cent in the previous session. Wall Street extends recent fall but ends well off day's lows   US stocks fell on Tuesday after worries about the earnings outlook added to recent selling pressure, though major indexes ended well off the day’s lows as investors snapped up beaten-down shares late in the session. Along with worries over profit growth, concerns over the upcoming US mid-term elections and Italy’s budget have also sent investors scrambling out of stocks.   The Dow Jones Industrial Average fell 125.98 points, or 0.5 per cent, to 25,191.43, the S&P 500 lost 15.19 points, or 0.55 per cent, to 2,740.69 and the Nasdaq Composite dropped 31.09 points, or 0.42 per cent, to 7,437.54. Good morning!   Welcome to market live blog. Catch all the market action here

Corporate earnings from blue chips like Wipro, Bajaj Auto will be the main focus for the today ahead of October F&O expiry. However, at two-month low may keep the sentiments in check.

Selloff in global equities saw benchmark indices — and — close on Tuesday at levels last seen nearly seven months ago. Rising geopolitical tensions, uncertainty over the death of a Saudi journalist and Italy’s budget row were seen as factors impacting sentiments. Depreciating rupee, rise in oil prices and spike in US bond yields are among other factors behind the market fall.

Amid stock specific action, HCL Technologies will be in focus after reported a 5.7 per cent quarter-on-quarter (Q-o-Q) rise in its consolidated net profit at Rs 25.40 billion.
Revenues for the period came in at Rs 148.61 billion, up 7.1 per cent Q-o-Q and 19.5 per cent on year-on-year (Y-o-Y) basis. 

Wipro, Kotak Bank, Infratel, Indigo, IDFC Bank, Bajaj-Auto are among other companies to release their quarterly earnings for September due in the later day today. 

GLOBAL MARKETS

Asian stocks edged up on Wednesday as a late round of buying helped Wall Street indexes pare most of their earlier panic-driven losses, although oil struggled near two-month lows after Saudi Arabia flagged possible supply increases.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent following a decline of more than 2 per cent the previous day.

Global stocks suffered earlier this week on worries about US earnings, Italian government finances, US trade tensions and mounting pressure on Saudi Arabia over the death of dissident journalist Jamal Khashoggi.

South Korea’s KOSPI added 0.5 per cent and Japan’s Nikkei climbed 0.25 per cent.

(with Reuters input)

First Published: Wed, October 24 2018. 08:08 IST