The key Indian stock indices started weak in early morning trade, weighed down by sluggish corporate earnings and as investors await weak industrial output data. Indian equity benchmarks crashed more than 200 points after September IIP nos indicated Industrial growth has deteriorated further, resulting in a definite slowdown in India. Industrial output grew just at 1.98% in September as against 4.1% in August.
Key Results Today:
ADANI POWER, Anant Raj Inds, Britannia Inds, Dredging Corp, Financial Tech, Gammon India, Great Eastern Sh, HDIL, Jet Air India, Jindal SAW, Lanco Infra, Mundra Port, Shree Renuka Sugar, Reliance Cap, REI Agro, Pentamedia Graphics, Pipavav Defence, Tata Chemicals, Tamil Nadu Newsprint, SRF and Spicejet.
US Markets
U.S. stocks snapped back Thursday from a steep sell-off a day earlier, as Italian bond yields eased slightly and initial unemployment claims reached a 7-month low.
Dow Jones rose 113 points, or 1%, S&P 500 added 11 points, or 0.9%, and Nasdaq composite edged up 4 points, or 0.1%.
Asian Markets
Today, all the Asian indices are trading in the green except Nikkei and Taiwan, which are down by 0.2% and 0.045 respectively. Kospi is trading higher by 1.2% while Hang Seng is up 0.45. Starit Times is up 0.1% while Shanghai is marginally in the green.
Commodities
Among the metals, only Aluminium rose by 0.3% while Zinc and Copper lost 3.35 and 2.9% respectively. Nickel fell by 0.3%.
Oil for December delivery rose $2.04 to $97.78 a barrel.Gold futures for December delivery fell $32 to 1,759.60 an ounce.
Outlook for Today
Today, we expect the Indian Markets to open in the green on the back of positive global cues and later take cues from the European markets. Among the sectors, Consumer Durable and IT stocks could outperform.
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