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Bargain hunting may emerge after recent steep losses
01-Oct-18   07:59 Hrs IST

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 13.50 points at the opening bell.

Overseas, most Asian stocks were trading higher on Monday. The Chinese and Hong Kong markets are closed today.

Japan's Nikkei 225 advanced on the back of the release of a survey conducted by the Bank of Japan which showed business confidence among the country's big manufacturers falling for the third consecutive quarter.

On Sunday, the release of data showed growth in China's manufacturing sector slowing down in September, with both external and domestic demand weakening. The Caixin/Markit Manufacturing Purchasing Managers' Index — which focuses on small and medium-sized firms in China — fell to 50.0 in September from 50.6 in August.

The data comes as the US-China trade war continues to escalate, with new tariffs imposed between the two countries on 24 September 2018 and Washington threatening to slap tariffs on virtually all Chinese imports into the United States.

In US, stocks closed mostly unchanged for the session on Friday after economic data painted a mixed picture of the economy.

On the economic front, consumer spending rose 0.3% in August, the slowest pace since February. Personal income also rose by 0.3%. The 12-month increase in the PCE index, the Federal Reserve's preferred inflation gauge, fell to 2.2% from 2.3%.

The Chicago Purchasing Manager's Index fell to a five-month low 60.4 in September. A reading of consumer sentiment came in at 100.1 in September.

Meanwhile, the United States and Canada have reportedly reached an agreement on a framework North American Free Trade Agreement deal. The new agreement framework involves offering more dairy access to US farmers, as well as Canada agreeing to a side-letter arrangement effectively capping automobile exports to the United States, the reports said.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1,699.94 crore on 28 September 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 3,256.34 crore on 28 September 2018, as per provisional data.

Key equity benchmarks declined for third day in a row on Friday, 28 September 2018, weighed by losses in Larsen & Toubro, Yes Bank and Maruti Suzuki India. The Sensex fell 97.03 points or 0.27% to settle at 36,227.14. The Nifty 50 index fell 47.10 points or 0.43% to settle at 10,930.45.

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BSE | NSE
Wednesday, October 17, 2018    
Adani Ports    314.30  (-18.70)    |    
Asian Paints    1256.20  (-10.60)    |    
Axis Bank    574.60  (-14.20)    |    
Bajaj Auto    2548.05  (-63.10)    |    
Bharti Airtel    288.10  (-5.80)    |    
Coal India    279.65  (3.15)    |    
H D F C    1736.30  (-20.60)    |    
HDFC Bank    1974.95  (-17.45)    |    
Hero Motocorp    2815.10  (-83.60)    |    
Hind. Unilever    1561.05  (16.70)    |    
ICICI Bank    314.70  (-6.35)    |    
IndusInd Bank    1603.80  (-17.05)    |    
Infosys    704.50  (8.10)    |    
ITC    286.35  (3.80)    |    
Kotak Mah. Ban...    1178.05  (1.25)    |    
Larsen & Toubr...    1211.25  (-13.10)    |    
M & M    760.05  (-18.25)    |    
Maruti Suzuki    6878.70  (-271.25)    |    
NTPC    162.75  (-1.25)    |    
O N G C    162.10  (-3.40)    |    
Power Grid Cor...    189.10  (1.05)    |    
Reliance Inds.    1148.90  (-14.75)    |    
St Bk of India    261.15  (-9.05)    |    
Sun Pharma.Ind...    593.45  (-9.40)    |    
Tata Motors    179.20  (-6.30)    |    
Tata Motors-DV...    99.95  (-1.40)    |    
Tata Steel    554.65  (-19.45)    |    
TCS    1927.70  (-34.00)    |    
Vedanta    208.00  (-4.35)    |    
Wipro    324.00  (3.85)    |    
Yes Bank    231.75  (-17.05)    |