MARKETS LIVE: Investors to keep an eye on Q2 results\, rupee\, global cues

MARKETS LIVE: Investors to keep an eye on Q2 results, rupee, global cues

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SI Reporter  |  New Delhi 

Quarterly earnings, rupee movement, crude oil prices and other global developments are expected to dictate the market trend for the day. Market participants are likely to react to the macroeconomic data released on Monday.

Investors are likely to react to the September quarter earnings declared by Coal India and Jet Airways. Coal India posted an over eight-fold rise in consolidated net profit to Rs 30.85 billion for the quarter to September 2018. It had reported a net profit of Rs 3.704 billion in the July-September quarter of 2017-18. Jet Airways posted a net loss of Rs 12.61 billion in the third quarter of 2018-19. In the September quarter of 2017-18, it had reported a net profit of Rs 0.71 billion.

ECONOMIC DATA

Industrial production grew to 4.5 per cent in September on the back of good performance by the manufacturing sector and higher off-take of capital goods and consumer durables. The Consumer Price Index-based Inflation was at 3.31 per cent in the month of October compared with 3.77 per cent in the month of September.

The rupee on Monday dropped by 39 paise to settle at 72.89 against the US currency as oil prices rebounded after Saudi Arabia announced plans to cut production and the dollar strengthened in global markets.

RESULTS TODAY

Nearly 600 companies including Tata Steel, Sun Pharma, RITES, IRCON, JSPL, Corporation Bank, Ashok Leyland, Apollo Tyres, Allahabad Bank and United Bank of India are slated to announce their September quarter earnings later in the day today.

GLOBAL MARKETS

Asian shares stumbled on Tuesday after a rout in tech stocks inflicted a hefty sell-off on Wall Street, while the dollar hit a 16-month peak on safe-haven bets amid political risks in Europe and acrimonious Sino-U.S. trade relations. 

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 per cent to a 1-1/2 week trough, with Australian and New Zealand shares opening sharply lower.

Overnight in Wall Street, major US stock indexes dropped more than 1 per cent, with the tech-heavy Nasdaq slumping over 2 per cent.

(with Reuters input)
MARKETS LIVE: Investors to keep an eye on Q2 results, rupee, global cues

SGX Nifty   Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 55 points or 0.52 per cent. Nifty futures were trading around 10,445-level on the Singaporean Exchange.

MARKETS LIVE: Investors to keep an eye on Q2 results, rupee, global cues

Asian shares sell-off on Wall Street tech rout, oil slides   Asian shares skidded on Tuesday after a rout in tech stocks put Wall Street to the sword, while a sharp drop in oil prices and political risks in Europe pushed the dollar to 16-month highs as investors dumped riskier assets.   MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 1.7 per cent to a 1-1/2 week trough, with Australian shares sinking 1.6 per cent. Japan's Nikkei dived 3.1 per cent led by losses in electric machinery makers and suppliers of Apple's iphone parts.

MARKETS LIVE: Investors to keep an eye on Q2 results, rupee, global cues

Apple, Goldman Sachs send Wall Street tumbling   Wall Street’s major indexes fell on Monday, with the S&P 500 sliding 2 per cent, weighed by technology and financial stocks as shares of Apple Inc and Goldman Sachs Group Inc came under pressure.   Apple shares fell 5.0 per cent after several suppliers to the company, including Lumentum Holdings Inc whose components power the iPhone’s Face ID technology, cut their forecasts. Apple’s decline impeded the tech-heavy Nasdaq, which fell more than 2 per cent.   The Dow Jones Industrial Average fell 602.12 points, or 2.32 per cent, to 25,387.18, the S&P 500 lost 54.79 points, or 1.97 per cent, to 2,726.22 and the Nasdaq Composite dropped 206.03 points, or 2.78 per cent, to 7,200.87.

MARKETS LIVE: Investors to keep an eye on Q2 results, rupee, global cues

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First Published: Tue, November 13 2018. 08:15 IST