9:08 a.m.: Sensex falls 140 points to 28,031 and Nifty slips 71 points to 8,439 in the pre-market session.
9:00 a.m.: Rupee opens lower at 63.54/dollar against Tuesday's close of 63.46
8:56 a.m.: CLSA has recommended buy on Bharti Airtel. CLSA says that Bharti Airtel is their top pick in the telecom sector and the sector is likely to see a renewed phase of consolidation. Spectrum-sharing and trading rules will come out soon and the top three incumbents will gain markets share.
8:42 a.m.: Macqauire has come out with an 'underperform' rating on NMDC for target price of Rs 90 per share. Macqauire says that company is facing a bleak business cycle and NMDC looks expensive as it trades at 1.3 times to its price to book value. The brokerage sees low demand and little possibility of improvement.
8:38 a.m.: Back home, these stocks will be in focus today:
Hindalco: Hindalco is looking to refinance debt worth $2.4 billion. The company is in discussions with banks about extending the maturity of loan and the company is also looking to negotiate on lower interest cost. Total debt of Hindalco has more than doubled in four years.
Crompton Greaves: Crompton Greaves has signed pact with Lafarge for global supply agreement for electric motors.
Vascon Engineers: Vascon Engineers has got an EPC order worth Rs 286 crore.
Stock Brokerage Firms: Stock brokerages such as MOSL, IIFL and Religare will be in focus as Warburg, General Atlantic are eyeing stake in Sharekhan.
NMDC: NMDC plans to set up 3 million tonnes per annum steel plant in Karnataka.
8:15 a.m.: The drop in China extended a savage correction that has clipped 30 percent off Chinese shares since mid-June, threatening a new blow to the country's already slowing economy despite a slew of market support steps from Beijing.
Shanghai's benchmark composite index was down 6.4 percent, while the CSI300 index of the largest listed companies in Shanghai and Shenzhen slipped 6.7 percent.
Chinese media reported that possibly more than half of China's listed companies have suspended or will seek trading suspensions in an attempt to escape the market rout. (Read)
8:10 a.m.: The foreign institutional investors purchased Indian shares worth Rs 23.5 crore on Tuesday while the domestic institutional investors sold shares worth Rs 94.7 crore.
In the derivative segment, the FIIs bought index futures worth Rs 960 crore while they sold stock futures worth Rs 60 crore.
8:00 a.m.: The Indian markets are likely to witness a gap down opening on the back of weak global cues on concerns over plunging Chinese markets and ongoing Greece debt concerns.
The Nifty which is traded on the Singapore Stock Exchange also known as the SGX Nifty plunged over 1 per cent or 94 points to 8,432 indicating a weak start for the Indian equities.
7:55 a.m.: Asian shares fell on Wednesday as investors fretted over Greece's debt crisis and a recent plunge in Chinese stocks, while the euro steadied.
Euro zone members gave Athens until the end of this week to propose reform measures in order to secure the funding it needs to stay in the euro zone.
7:45 a.m.: Euro zone members have given Greece until the end of the week to come up with a proposal for sweeping reforms in return for loans that will keep the country from crashing out of Europe's currency bloc and into economic ruin.
9:00 a.m.: Rupee opens lower at 63.54/dollar against Tuesday's close of 63.46
8:56 a.m.: CLSA has recommended buy on Bharti Airtel. CLSA says that Bharti Airtel is their top pick in the telecom sector and the sector is likely to see a renewed phase of consolidation. Spectrum-sharing and trading rules will come out soon and the top three incumbents will gain markets share.
8:42 a.m.: Macqauire has come out with an 'underperform' rating on NMDC for target price of Rs 90 per share. Macqauire says that company is facing a bleak business cycle and NMDC looks expensive as it trades at 1.3 times to its price to book value. The brokerage sees low demand and little possibility of improvement.
8:38 a.m.: Back home, these stocks will be in focus today:
Hindalco: Hindalco is looking to refinance debt worth $2.4 billion. The company is in discussions with banks about extending the maturity of loan and the company is also looking to negotiate on lower interest cost. Total debt of Hindalco has more than doubled in four years.
Crompton Greaves: Crompton Greaves has signed pact with Lafarge for global supply agreement for electric motors.
Vascon Engineers: Vascon Engineers has got an EPC order worth Rs 286 crore.
Stock Brokerage Firms: Stock brokerages such as MOSL, IIFL and Religare will be in focus as Warburg, General Atlantic are eyeing stake in Sharekhan.
NMDC: NMDC plans to set up 3 million tonnes per annum steel plant in Karnataka.
8:15 a.m.: The drop in China extended a savage correction that has clipped 30 percent off Chinese shares since mid-June, threatening a new blow to the country's already slowing economy despite a slew of market support steps from Beijing.
Shanghai's benchmark composite index was down 6.4 percent, while the CSI300 index of the largest listed companies in Shanghai and Shenzhen slipped 6.7 percent.
Chinese media reported that possibly more than half of China's listed companies have suspended or will seek trading suspensions in an attempt to escape the market rout. (Read)
8:10 a.m.: The foreign institutional investors purchased Indian shares worth Rs 23.5 crore on Tuesday while the domestic institutional investors sold shares worth Rs 94.7 crore.
In the derivative segment, the FIIs bought index futures worth Rs 960 crore while they sold stock futures worth Rs 60 crore.
8:00 a.m.: The Indian markets are likely to witness a gap down opening on the back of weak global cues on concerns over plunging Chinese markets and ongoing Greece debt concerns.
The Nifty which is traded on the Singapore Stock Exchange also known as the SGX Nifty plunged over 1 per cent or 94 points to 8,432 indicating a weak start for the Indian equities.
7:55 a.m.: Asian shares fell on Wednesday as investors fretted over Greece's debt crisis and a recent plunge in Chinese stocks, while the euro steadied.
Euro zone members gave Athens until the end of this week to propose reform measures in order to secure the funding it needs to stay in the euro zone.
7:45 a.m.: Euro zone members have given Greece until the end of the week to come up with a proposal for sweeping reforms in return for loans that will keep the country from crashing out of Europe's currency bloc and into economic ruin.
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