Markets signal cautious start on mixed cues
Indian Indices:
Indian shares are likely to be positive as the
global cues look supportive with SGX Nifty trading 25 points higher.
Indian equity benchmarks are likely to witness a
bullish opening on Tuesday tracking a positive trend across most major Asian
stocks as an improvement in Chinese manufacturing eased concerns over a
slowdown in the global economy, bolstering risk taking appetite.
Gains in the SGX Nifty Index Futures for
November delivery which were trading at 8,632, up by 28 points or 0.32 per cent
at 10:20 AM Singapore time, signal that the Sensex may open higher today.
The focus today will be on the October
Manufacturing data set for release, which will offer further cues over the
health of Asia’s third biggest economy.
The India manufacturing gauge stood at 52.1 in
September, with a reading above 50 signalling expansion.
The Services PMI and monthly auto sales numbers
will also be eyed this week.
Shares of Ambuja Cements, Titan, Union Bank and
Pfizer will be in focus this week as these companies unveil their September
quarter earnings.
Dalal Street may witness some volatility with
investors across the globe slightly nervous ahead of the results of the US
Presidential elections on November 8, 2016.
Global Market:
Asian stocks wallowed near six-week lows on
Tuesday as investors braced for a looming raft of economic and central bank
events, while oil prices fell as markets doubted OPEC's ability to implement
planned production cuts.
Most Asian stocks rose as China’s manufacturing
gauge hit an over two-year high in October, signaling strength in the world’s
second biggest economy.
The China official manufacturing PMI rose to the
highest level since July 2014 at 51.2 in October from 50.4 in September.
Shanghai Composite and Hang Seng rose while
Nikkei 225 fell amid caution ahead of Tuesday’s Bank of Japan policy review. US
stocks ended tad lower on Monday as US Presidential elections loomed closer
while increase in deal activity and strong economic data supported sentiment.
US consumer spending climbed the most in three
months, up 0.5 per cent in September.
Major Headlines of the day:
- ·NBCC to redevelop VSNL land assets for Rs15,000 crore.
- ·SBI to raise Rs5681 crore from Government via preferential issue.
- ·ONGC Videsh completes acquisition of 11% additional stake inVankor.
Trend in FII flows:
The FIIs were net buyers of Rs -106.77 Cr in
the cash segment on Monday while the DIIs were net sellers of
Rs 13.15 Cr, as per the provisional figures.
Results Today :-
KCEMENT,
KITEX, MAJESCO, CNETURYPLY, MIC, ASTRAMICRO, SUNDARAMFIN
