Market Outlook: Indian Equity markets may have flat to negative opening today ahead of weak global cues. Nifty has supports at 3250- 3300 and resistances are at 3400-3440. The market is expected to remain volatile. Outlook for the markets today is that of caution as the bulls are losing their grip in the near term. If the overseas cues turn more negative, fresh declines may occur.
Nifty Outlook: R1: 3388, R2: 3447, R3: 3492, S1: 3284, S2: 3238, S3: 3180.
Results today: HDFC Bank, Idea Cellular, RIL, Reliance Infra, RPL, Reliance Power, Bajaj Hindustan, RNRL, LIC Housing, Binani Cement, Jindal Drilling, Zee News, Maharashtra Seamless, Binani Industries, HCL Infosystems, Rain Commodities, VST Industries, MMTC, Astrazeneca
Indian ADRs: Wipro up 4%, Tata Motors up 2%, ICICI Bank, Satyam down 3%
On the global front: Wall Street ends lower; Dow slips 82 points while Asian markets trading mixed; Hang Seng up. A late rally in the US markets collapsed on sell-off in financials, some consumer and energy stocks. Techs outperformed the broader market for most of the day but declined in the sell off. The loss in financials were led by Morgan Stanley as the stock skidded 9% after the investment bank said credit troubles hampered earnings. The company's loss of 57 cents a share badly missed expectations of an 8-cent loss, and it cut its dividend to 5 cents a share. The Dow slipped 82.99 points, or 1%, to 7,886.57. The S&P 500 index fell 6.53 points, or 0.8%, to 843.55, while the NASDAQ composite index rose 2.27 points, or 0.1%, to 1,646.12 in anticipation of solid results from Apple.
Nifty Outlook: R1: 3388, R2: 3447, R3: 3492, S1: 3284, S2: 3238, S3: 3180.
Results today: HDFC Bank, Idea Cellular, RIL, Reliance Infra, RPL, Reliance Power, Bajaj Hindustan, RNRL, LIC Housing, Binani Cement, Jindal Drilling, Zee News, Maharashtra Seamless, Binani Industries, HCL Infosystems, Rain Commodities, VST Industries, MMTC, Astrazeneca
Indian ADRs: Wipro up 4%, Tata Motors up 2%, ICICI Bank, Satyam down 3%
On the global front: Wall Street ends lower; Dow slips 82 points while Asian markets trading mixed; Hang Seng up. A late rally in the US markets collapsed on sell-off in financials, some consumer and energy stocks. Techs outperformed the broader market for most of the day but declined in the sell off. The loss in financials were led by Morgan Stanley as the stock skidded 9% after the investment bank said credit troubles hampered earnings. The company's loss of 57 cents a share badly missed expectations of an 8-cent loss, and it cut its dividend to 5 cents a share. The Dow slipped 82.99 points, or 1%, to 7,886.57. The S&P 500 index fell 6.53 points, or 0.8%, to 843.55, while the NASDAQ composite index rose 2.27 points, or 0.1%, to 1,646.12 in anticipation of solid results from Apple.
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