Sensex, Nifty to open on a weak note

WPI numbers will be on investors’ radar. The rupee too could remain under some pressure. OMCs will be in focus after IOC hiked petrol price by 36 paise a litre and diesel by 87 paise a litre.

The Paris attacks have hurt sentiment for the time being but indices usually stage a smart comeback following knee-jerk reactions.  Attacks in France killed 132 people and the threat of terror attacks continues to weigh on sentiment. The Nikkei is down after latest GDP data confirmed Japan’s economy slipped back into recession in the July-September quarter, contracting at a 0.8% annualised rate.

The indices are set to open on a weak note. WPI numbers will be on investors’ radar. The rupee too could remain under some pressure. OMCs will be in focus after IOC hiked petrol price by 36 paise a litre and diesel by 87 paise a litre. Maruti Suzuki will be in action as the company will finally go ahead today with its much-delayed minority shareholders voting to let parent Suzuki invest and own the upcoming plant in Gujarat.

There appears to be no dearth of bad news, IIP slowed in September growing by a mere 3.6%. This is in sharp contrast to the growth of 6.2% recorded in August. Low growth in mining and manufacturing sectors was the culprits for bringing down IIP. CPI-based inflation soared yet again on account of a spike in the price of pulses hitting 5% in October.

Investors will have to deal with high volatility, without any major index returns in the coming months. The impending US Fed rate hike, possible currency devaluation by China, shale oil crisis, Russian aggression and the Middle East conflict are the global factors to contend with. Clearly, given the backdrop of global events, foreign liquidity flows would always be in question in the medium term. Back home, similar to Bihar, Government will have an uphill task in Assam, West Bengal and Tamil Nadu in 2016.

Finance minister Arun Jaitley called for improving credibility and integrity of all market participants, including the regulators and corporates, to channel more household savings into the system, says report.

The Maharashtra government is reportedly seeking legal advice on whether to contest the Bombay High Court’s order allowing Nestle India to restart sales of Maggi instant noodles.

L&T Technology Services Ltd., a unit of Larsen & Toubro Ltd. (L&T), is looking to acquire start-ups valued at US$50 million or less, CEO Keshab Panda has been quoted as saying by a business daily.

Sun Pharmaceutical is in talks to buy a portion of Novartis portfolio of old branded products in Japan, according to reports.

Maruti Suzuki India's new premium hathback Baleno has received more than 21,000 bookings within 15 days of its launch, according to reports.

Punjab National Bank (PNB) has put its loans to Ramsarup Industries’ unit — Ramsarup Nirmaan Wires — up for sale to asset reconstruction companies (ARCs), reports a financial newspaper