Investor sentiment is cautious ahead of the Fed two-day meet outcome due today. The Federal Reserve is expected to maintain its accommodative monetary policy, but investors will be looking for hints on when the central bank might start scaling back on its monthly bond-buying programme. In addition, markets will also be eager for hints for who may replace Ben Bernanke next year as Fed chairman.
Back home, equity benchmarks fell 1.3 percent Tuesday as the rupee dropped below the 60-mark post RBI's credit policy review , continuing weakness for the fifth consecutive session.
ICICI bank is expected to deliver a stable set of numbers. In a CNBC-TV18 poll, the bank is seen reporting 24 percent growth in profits year-on-year. Margins are seen to be stable sequentially.
Bharti Airtel is also set to announce April-June quarter results today. Q1 is expected to be a strong quarter for all telecom stocks. CNBC-TV18 poll sees nearly 28 percent jump in profits while revenues could rise by over 4 percent. Solid voice volume growth, modest uptick in voice RPM and sustained data revenue growth momentum will aid numbers this quarter.
Stock in news
The National Fertilizer offer-for-sale (OFS) kicks off today and the government is likely to fix the price band for the Neyveli Lignite offer. The base price for the OFS has been fixed at Rs 27 apiece, which is 1.12 per cent higher than the current market price of Rs 26.70.
NTPC board approves investment of Rs 3,363 crore for UP Thermal Power Plant.
Jindal Steel authorises panel to examine share buyback option.
Meanwhile sources indicate that the auto industry sends an SOS to the government for immediate intervention. Auto industry body SIAM writes to the heavy industry Minister Praful Patel seeking around 30 percent reduction in excise duty across products.
Global cues
In US, markets close mixed, the Dow Jones industrial average slipped. Nasdaq hit a 12.5 year high. Among techs, Facebook advanced more than 6 percent after the social-networking giant announced the launch of Facebook mobile games publishing. The stock has surged more than 45 percent so far this month and is trading close to its IPO price of USD 38 a share.
In europe, markets closed narrowly higher after a mixed bag of earnings reports, fresh economic data released from the euro zone, and a bank sell-off led by Barclays.
Asian markets were trading mixed. China's Shanghai Composite rose 0.76 percent or 15.08 points at 2,005.15.
Hong Kong's Hang Seng was up 0.18 percent or 40.60 points at 21,994.56. Japan's Nikkei shed 0.87 percent or 121.23 points at 13,748.59.
Singapore's Straits Times declined 0.46 percent or 15.04 points at 3,230.41.
Other asset class
In the currency space, the euro steady above 1.32 to the dollar. The dollar index is around 81.80 levels. The dollar yen is at 98.
Brent crude prices slip to USD 106 per and Nymex slips to USD 103 per barrel.
From precious metals space, gold hovers around 1325 dollars an ounce
Back home, equity benchmarks fell 1.3 percent Tuesday as the rupee dropped below the 60-mark post RBI's credit policy review , continuing weakness for the fifth consecutive session.
ICICI bank is expected to deliver a stable set of numbers. In a CNBC-TV18 poll, the bank is seen reporting 24 percent growth in profits year-on-year. Margins are seen to be stable sequentially.
Bharti Airtel is also set to announce April-June quarter results today. Q1 is expected to be a strong quarter for all telecom stocks. CNBC-TV18 poll sees nearly 28 percent jump in profits while revenues could rise by over 4 percent. Solid voice volume growth, modest uptick in voice RPM and sustained data revenue growth momentum will aid numbers this quarter.
Stock in news
The National Fertilizer offer-for-sale (OFS) kicks off today and the government is likely to fix the price band for the Neyveli Lignite offer. The base price for the OFS has been fixed at Rs 27 apiece, which is 1.12 per cent higher than the current market price of Rs 26.70.
NTPC board approves investment of Rs 3,363 crore for UP Thermal Power Plant.
Jindal Steel authorises panel to examine share buyback option.
Meanwhile sources indicate that the auto industry sends an SOS to the government for immediate intervention. Auto industry body SIAM writes to the heavy industry Minister Praful Patel seeking around 30 percent reduction in excise duty across products.
Global cues
In US, markets close mixed, the Dow Jones industrial average slipped. Nasdaq hit a 12.5 year high. Among techs, Facebook advanced more than 6 percent after the social-networking giant announced the launch of Facebook mobile games publishing. The stock has surged more than 45 percent so far this month and is trading close to its IPO price of USD 38 a share.
In europe, markets closed narrowly higher after a mixed bag of earnings reports, fresh economic data released from the euro zone, and a bank sell-off led by Barclays.
Asian markets were trading mixed. China's Shanghai Composite rose 0.76 percent or 15.08 points at 2,005.15.
Hong Kong's Hang Seng was up 0.18 percent or 40.60 points at 21,994.56. Japan's Nikkei shed 0.87 percent or 121.23 points at 13,748.59.
Singapore's Straits Times declined 0.46 percent or 15.04 points at 3,230.41.
Other asset class
In the currency space, the euro steady above 1.32 to the dollar. The dollar index is around 81.80 levels. The dollar yen is at 98.
Brent crude prices slip to USD 106 per and Nymex slips to USD 103 per barrel.
From precious metals space, gold hovers around 1325 dollars an ounce
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