The indices are set to open on a negative note. Auto stocks will be in focus based on the numbers announced.
Asian markets are trading mixed. Nikkei 225 is trading in green, while Shanghai Composite and Hong Kong's Hang Seng are trading lower.
Wall Street closed lower on Wednesday. The Dow Jones industrial average fell 53.42 points to 18,400.88, the S&P 500 lost 5.17 points to 2,170.95 and the Nasdaq Composite dropped 9.77 points to 5,213.22.
Crude oil futures steadied after skidding on data showing a large surprise weekly build in US crude and distillate stockpiles and a smaller-than-expected drawdown in gasoline.
On the economy front, fiscal deficit in the first four months of the current financial year stood at Rs.3.93 lakh crore, or 73.3% of the Budget estimates for 2016-17.
India’s economic growth decelerated to its slowest level in six quarters in the April-June period, potentially making the government’s target of achieving 8% growth this year more dauntin.
The Eight Core Industries comprise nearly 38% of the weight of items included in the IIP. The combined Index of Eight Core Industries stands at 173.7 in July 2016, which was 3.2% higher compared to the index of July 2015. Its cumulative growth during April to July, 2016-17 was 4.9%.
Among other stocks in focus:
Hindustan Copper: The company has signed a joint venture agreement with Chhattisgarh Mineral Development Corporation (CMDC) for exploration, mining and beneficiation of copper and associated minerals.
Global Data: RBA Commodity Index SDR (YoY) (Aug), EUR Markit Manufacturing PMI (Aug),CHF Real Retail Sales (YoY) (Aug),CHF SVME - Purchasing Managers' Index (Aug),EUR Markit Manufacturing PMI (Aug), EUR Markit Manufacturing PMI (Aug), EUR Markit Manufacturing PMI (Aug), EUR Markit Manufacturing PMI (Aug), EUR Markit Manufacturing PMI (Aug),USD Initial Jobless Claims (Aug 26),USD Unit Labor Costs (Q2),USD Nonfarm Productivity (Q2),CAD RBC Manufacturing PMI (Aug),USD Markit Manufacturing PMI (Aug),USD ISM Manufacturing PMI (Aug),USD ISM Prices Paid (Aug),USD Construction Spending (MoM) (Jul),USD EIA Natural Gas Storage change (Aug 26), USD Total Vehicle Sales (Aug).
Results: Apollo Hospitals Enterprise Ltd, Mahanagar Gas Ltd,Essel Propack,Kalindee Rail, Ballarpur Industries Ltd, Advik Industries,Allied Digital Services,Bimetal Bearings, F Mec International Financial Services and Navkar Corporation
Trends in FII flows: The domestic institutional investors (DIIs) were net buyers of Rs.8.47 bn in the cash segment on Wednesday, while FIIs were net buyers of Rs.8.54 bn, as per the provisional figures released by the NSE.
Asian markets are trading mixed. Nikkei 225 is trading in green, while Shanghai Composite and Hong Kong's Hang Seng are trading lower.
Wall Street closed lower on Wednesday. The Dow Jones industrial average fell 53.42 points to 18,400.88, the S&P 500 lost 5.17 points to 2,170.95 and the Nasdaq Composite dropped 9.77 points to 5,213.22.
Crude oil futures steadied after skidding on data showing a large surprise weekly build in US crude and distillate stockpiles and a smaller-than-expected drawdown in gasoline.
On the economy front, fiscal deficit in the first four months of the current financial year stood at Rs.3.93 lakh crore, or 73.3% of the Budget estimates for 2016-17.
India’s economic growth decelerated to its slowest level in six quarters in the April-June period, potentially making the government’s target of achieving 8% growth this year more dauntin.
The Eight Core Industries comprise nearly 38% of the weight of items included in the IIP. The combined Index of Eight Core Industries stands at 173.7 in July 2016, which was 3.2% higher compared to the index of July 2015. Its cumulative growth during April to July, 2016-17 was 4.9%.
Among other stocks in focus:
RIL, ONGC: The government has set a 1-month deadline to begin implementing steps to resolve a dispute over natural gas that migrated from ONGC’s offshore block in the Bay of Bengal to the adjoining assets of Reliance Industries Ltd, as per media reports. RIL will be in focus ahead of its AGM in which Chairman Mukesh Ambani is likely to disclose future plans for Reliance Jio Infocomm at the company's annual general meeting on Thursday.
PSU Oil stocks in focus: Public sector oil marketing companies announced an increase in retail selling price of petrol by Rs.3.38 a litre and for diesel by Rs.2.67 a litre in Delhi on Wednesday. The price increase is inclusive of state levies and will vary from state to state and will be effective midnight August 31/September 1.
Cement stocks in focus: CCI imposed more than Rs.6,700 crore penalty on 10 cement companies. A fine of Rs.1,147.59 crore has been imposed on ACC, while penalties on Jaiprakash Associates Ltd and Ultratech are Rs.1,323.60 crore and Rs.1,175.49 crore, respectively. The fines on other companies are Rs 274.02 crore (Century), Rs.187.48 crore (India Cements), Rs.128.54 crore (JK Cements), Rs.490.01 crore (Lafarge), Rs.258.63 crore (Ramco), ACL (Rs.1,163.91 crore) and Binani (Rs.167.32 crore), according to the release. CMA faces a fine of Rs.0.73 crore.
Auto stocks in focus: Auto stocks will remain in focus as auto companies will announce their August sales figures on Thursday.
Rajesh Exports Ltd: The company received export order worth Rs.1,172 crore. The order is to be completed by December 2016.
Multi Commodity Exchange of India Ltd: The company reported a 23% rise in revenue for the June quarter. Net profit rose 55% to Rs.32.8 crore.
MOIL: MOIL is set to enhance production of manganese ore up to 2.5 million tonnes by 2020-21, a top company executive has said.
Indiabulls Housing Finance: The company said it plans to raise up to Rs.100 crore through issuance of non-convertible debentures (NCDs).
Hathway Cables: The company reported Rs.53.2 crore loss for the quarter ended June 30 compared with Rs 37.30 crore reported in the year-ago period.
Indo Rama Synthetics India: The company reported a standalone net loss of Rs.16.56 crore for the first quarter ended June 30. The company had posted a net profit of Rs.5.86 crore in the corresponding period a year ago, Indo Rama Synthetics said in a BSE filing.
Power Mech: The company reported its net profit stood at Rs.16.60 crore for the quarter ended June 30 compared with Rs.15.90 crore reported in the year-ago period.
ZEE: Zee Entertainment Enterprises Ltd announced the sale of its sports network TEN Sports to Sony Pictures Network in an all-cash deal worth $385 million.
Tata Power: Two US defence firms-Raytheon and Lockheed Martin-plans will partner Tata Power Co. Ltd in manufacturing Javelin anti-tank guided missile in India, as per media reports.
Uniply Industries: A manufacturer of plywood, laminates and related products, has acquired Vector Projects, an architecture, design and interior fit out company to provide end-to-end building solutions, as per media report.
PSU Oil stocks in focus: Public sector oil marketing companies announced an increase in retail selling price of petrol by Rs.3.38 a litre and for diesel by Rs.2.67 a litre in Delhi on Wednesday. The price increase is inclusive of state levies and will vary from state to state and will be effective midnight August 31/September 1.
Cement stocks in focus: CCI imposed more than Rs.6,700 crore penalty on 10 cement companies. A fine of Rs.1,147.59 crore has been imposed on ACC, while penalties on Jaiprakash Associates Ltd and Ultratech are Rs.1,323.60 crore and Rs.1,175.49 crore, respectively. The fines on other companies are Rs 274.02 crore (Century), Rs.187.48 crore (India Cements), Rs.128.54 crore (JK Cements), Rs.490.01 crore (Lafarge), Rs.258.63 crore (Ramco), ACL (Rs.1,163.91 crore) and Binani (Rs.167.32 crore), according to the release. CMA faces a fine of Rs.0.73 crore.
Auto stocks in focus: Auto stocks will remain in focus as auto companies will announce their August sales figures on Thursday.
Rajesh Exports Ltd: The company received export order worth Rs.1,172 crore. The order is to be completed by December 2016.
Multi Commodity Exchange of India Ltd: The company reported a 23% rise in revenue for the June quarter. Net profit rose 55% to Rs.32.8 crore.
MOIL: MOIL is set to enhance production of manganese ore up to 2.5 million tonnes by 2020-21, a top company executive has said.
Indiabulls Housing Finance: The company said it plans to raise up to Rs.100 crore through issuance of non-convertible debentures (NCDs).
Hathway Cables: The company reported Rs.53.2 crore loss for the quarter ended June 30 compared with Rs 37.30 crore reported in the year-ago period.
Indo Rama Synthetics India: The company reported a standalone net loss of Rs.16.56 crore for the first quarter ended June 30. The company had posted a net profit of Rs.5.86 crore in the corresponding period a year ago, Indo Rama Synthetics said in a BSE filing.
Power Mech: The company reported its net profit stood at Rs.16.60 crore for the quarter ended June 30 compared with Rs.15.90 crore reported in the year-ago period.
ZEE: Zee Entertainment Enterprises Ltd announced the sale of its sports network TEN Sports to Sony Pictures Network in an all-cash deal worth $385 million.
Tata Power: Two US defence firms-Raytheon and Lockheed Martin-plans will partner Tata Power Co. Ltd in manufacturing Javelin anti-tank guided missile in India, as per media reports.
Uniply Industries: A manufacturer of plywood, laminates and related products, has acquired Vector Projects, an architecture, design and interior fit out company to provide end-to-end building solutions, as per media report.
Hindustan Copper: The company has signed a joint venture agreement with Chhattisgarh Mineral Development Corporation (CMDC) for exploration, mining and beneficiation of copper and associated minerals.
Global Data: RBA Commodity Index SDR (YoY) (Aug), EUR Markit Manufacturing PMI (Aug),CHF Real Retail Sales (YoY) (Aug),CHF SVME - Purchasing Managers' Index (Aug),EUR Markit Manufacturing PMI (Aug), EUR Markit Manufacturing PMI (Aug), EUR Markit Manufacturing PMI (Aug), EUR Markit Manufacturing PMI (Aug), EUR Markit Manufacturing PMI (Aug),USD Initial Jobless Claims (Aug 26),USD Unit Labor Costs (Q2),USD Nonfarm Productivity (Q2),CAD RBC Manufacturing PMI (Aug),USD Markit Manufacturing PMI (Aug),USD ISM Manufacturing PMI (Aug),USD ISM Prices Paid (Aug),USD Construction Spending (MoM) (Jul),USD EIA Natural Gas Storage change (Aug 26), USD Total Vehicle Sales (Aug).
Results: Apollo Hospitals Enterprise Ltd, Mahanagar Gas Ltd,Essel Propack,Kalindee Rail, Ballarpur Industries Ltd, Advik Industries,Allied Digital Services,Bimetal Bearings, F Mec International Financial Services and Navkar Corporation
Trends in FII flows: The domestic institutional investors (DIIs) were net buyers of Rs.8.47 bn in the cash segment on Wednesday, while FIIs were net buyers of Rs.8.54 bn, as per the provisional figures released by the NSE.
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