MARKETS LIVE: Q2 results\, rupee\, global cues to steer indices today

MARKETS LIVE: Q2 results, rupee, global cues to steer indices today

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SI Reporter  |  New Delhi 

September quarter results, rupee movement, oil prices and other global cues are likely to decide the market trend on Wednesday.

Investors will keep an eye on the rupee, which depreciated by 23 paise to close at 73.68 against the US dollar on Tuesday in line with fall in equities amid steady capital outflows and the strengthening of the American unit against major rivals overseas.

Around 150 companies including Larsen & Toubro, Tata Motors, Lupin, Vedanta, Canara Bank, United Spirits, Dabur India and Adani Power are likely to announce their September quarter earnings later in the day.

Amid stock specific action, Tech Mahindra will be in focus after company's September quarter earnings beat Street estimates at Rs 10.64 billion up 27.3 per cent over Rs. 8.9 billion in Q2 FY18 and 18.5 per cent sequentially (Rs 8.3 billion).

On the macroeconomic front, investors will be looking forward to eight Infrastructure Industries Index and fiscal deficit data for September due later in the day, and Nikkei PMI manufacturing data due on Thursday.

GLOBAL MARKETS

Asian stocks pulled away from 20-month lows to eke out small gains on Wednesday, thanks to a rebound on Wall Street though investors remained cautious after a torrid October month that saw trillions of dollars wiped out of global equity markets.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.05 per cent, but it was still on track to fall roughly 11 per cent this month. Australian stocks edged up 0.1 per cent, South Korea's KOSPI rose 0.35 per cent and Japan's Nikkei advanced 0.5 per cent.

Wall Street’s three stock indexes jumped more than 1 per cent on Tuesday, helped by strong gains for chip and transport stocks as investors took advantage of cheaper prices following the steep recent pullback for equities.

(with Reuters input)
MARKETS LIVE: Q2 results, rupee, global cues to steer indices today

Rupee check The rupee on Tuesday depreciated by 23 paise to close at 73.68 against the US dollar in line with fall in equities amid steady capital outflows and the strengthening of the American unit against major rivals overseas.

MARKETS LIVE: Q2 results, rupee, global cues to steer indices today

SGX Nifty   Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 70.5 points or 0.69 per cent. Nifty futures were trading around 11,299-level on the Singaporean Exchange.

MARKETS LIVE: Q2 results, rupee, global cues to steer indices today

Asia stocks crawl up after a merciless October for global equities   Asian stocks pulled away from 20-month lows to eke out small gains on Wednesday, thanks to a rebound on Wall Street though investors remained cautious after a torrid October month that saw trillions of dollars wiped out of global equity markets.   MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.05 per cent, but it was still on track to fall roughly 11 per cent this month. Australian stocks edged up 0.1 per cent, South Korea's KOSPI rose 0.35 per cent and Japan's Nikkei advanced 0.5 per cent.

MARKETS LIVE: Q2 results, rupee, global cues to steer indices today

Wall Street drops on trade worries   US stocks fell in a volatile session on Monday, with the benchmark S&P 500 index ending close to confirming its second correction of 2018, hurt by fresh worries about US-China trade policy tensions and a sharp drop in the big technology and internet shares.   The Dow Jones Industrial Average fell 245.39 points, or 0.99 per cent, to 24,442.92, the S&P 500 lost 17.44 points, or 0.66 per cent, to 2,641.25 and the Nasdaq Composite dropped 116.92 points, or 1.63 per cent, to 7,050.29.

MARKETS LIVE: Q2 results, rupee, global cues to steer indices today

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First Published: Wed, October 31 2018. 08:12 IST