Friday 7 August 2015

Sensex Likely to Edge Lower; Tata Motors to be in Focus

8:58 a.m.: Market expert Ambareesh Baliga says that Nifty crossing 8,600 will be difficult as reforms have taken a back seat and macro numbers are not looking attractive.

8:53 a.m.: Eros International: Eros will be in focus today as Salman Khan Starrer "Bajrangi Bhaijaan" crossed Rs 300 crore mark 20 days post its release.

8:50 a.m.: The initial US jobless claims edged up by 3000. Crucial jobs report will be released today. Analysts expect that 223,000 jobs were created in July. This data is most closely watched data ahead of Fed Sept rate decision.

8:30 a.m.: The foreign institutional investors purchased shares worth Rs 108.93 crore while the domestic institutional investors sold shares worth Rs 111.78 crore.

8:10 a.m.: Below are the stocks which will be in focus today:

From the large-cap space, Tata Motors, Mahindra & Mahindra, BHEL and Grasim Industries will be on traders' radar as all these companies will report their first quarter numbers later in the day.

From the mid-cap space, Finolex Industries, Future Retail, Gateway Distriparks, Gujarat State Petronet, Neyveli Lignite, Repco Home Finance, Sobha and Kalpatru Power will be in focus today as these companies will also reporte their first quarter numbers.

Vedanta: Vedanta shares will be in limelight today as company said that it will continue to engage with its shareholders. Synergies from merger with Cairn India will accrue to all shareholders.

Tata Steel: Reports suggest that Tata Steel is likely to undergo debt refinancing exercise to bring down interests cost.

Coal India: Economic Times report suggests that Coal India will invest Rs 62,590.50 crore by 2020 to produce 908 million tonnes of coal.

NTPC: NTPC commissioned unit 1 of 500 mw Vindhyachal Station. Total installed capacity of Vindhyachal Station is at 4,760 megawatt with this total installed capacity of NTPC group is at 45,548 megawatt.

7:50 a.m.: The Sensex and Nifty are likely to edge lower tracking subdued trading of Nifty futures on the Singapore Stock Exchange. The Nifty traded on the Singapore Exchange also known as the SGX Nifty was down 0.35 per cent or 30 points at 8,583.

Meanwhile, most of the Asian markets edged lower tracking weakness in the US markets. The weakness in Asian shares came ahead of the US employment data that will help US Fed to determine in raising interest rates next month.

Japan's Nikkei slipped 0.28 per cent, KOSPI fell 0.15 per cent and Taiwan Weighted was down 0.4 per cent.

Meanwhile, Chinese shares moved up after the Chinese government infused funds into the stock markets. Shanghai Composite and Shanghai Shenzen advanced over 2 per cent each.

Overnight, Wall Street ended sharply lower on Thursday as weak earnings reports from media companies stirred fears that more viewers are ditching cable TV, dragging the sector to its worst two-day loss since the financial crisis.

The Dow Jones industrial average fell 0.69 per cent to end at 17,419.75 and the S&P 500 lost 0.78 per cent to 2,083.56. The Nasdaq Composite dropped 1.62 per cent to 5,056.44, its biggest one-day tumble since early July.

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