What changed your markets while you were sleeping

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Foreign portfolio investors (FPIs) sold Rs 2,869.41 crore worth of domestic stocks on Tuesday, provisional data available with BSE suggested.
There are signs that benchmark equity indices might take a breather on Friday after relentless selling in the past few sessions, thanks to a drop in crude oil prices and after the government announced fresh measures to support a falling rupee.

Let's check out what might matter to Dalal Street during the day:


Singapore trading sets stage for positive start
Nifty futures on the Singapore Exchange were trading 16.50 points, or 0.16 per cent, higher at 10,296.00, indicating a positive start for the Nifty50.
Tech view: Nifty50 outlook negative
The index looks on course to hit the short-term target of 10,016. One can adopt a sell-on-rise strategy as long as the index trades below its swing high of 10,482, said Gaurav Ratnaparkhi, Senior Technical Analyst at Sharekhan by BNP Paribas. Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

Asian shares mixed
Asian shares appeared tentative on Friday, holding steady after a nine-day losing streak, but sentiment was frail after Wall Street shares crumbled and expectations of market volatility shot up to an eight-month high, Reuters reported. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent after the opening of the South Korea and Australian markets, a day after it fell 3.6 per cent to hit 1-and-a-1/2 year low. Japan's Nikkei fell 0.6 per cent.

Oil prices edge higher
Brent crude futures edged up 13 cents to $80.39 a barrel. The contract fell 3.4 per cent on Thursday, after hitting a low of $79.80, its weakest since September 24, Reuters reoirted US West Texas Intermediate (WTI) crude futures were up 11 cents at $71.08 a barrel, after falling 3 per cent in the previous session to the lowest since September 21.

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US stocks end lower
The S&P500 index declined 57.31 points, or 2.06 per cent, to close at 2,728.37. The Dow Jones Industrial Average index lost 545.91 points, or 2.13 per cent, to settle at 25,052.83. The Nasdaq Composite index ended 92.99 points, or 1.25 per cent, lower at 7,329.06.

EM to US market ratio lowest since 2008
For the emerging markets, the current equities weakness doesn’t feel as hopeless as the 2008 meltdown — at least on paper. But stock valuations at EMs, relative to the US, show that Wall Street’s price-earnings multiples have climbed more than in emerging economies, and that the aggregate valuation ratio is at its lowest since the subprime crisis. The relative PE reading of the MSCI EM index, compared with the S&P 500, has dropped to 0.64 this month, the lowest since October 29, 2008.

Measures likely to restrict rupee slide
India is considering a proposal to increase import duties on a raft of products ranging from plastic to steel as it seeks to curb a ballooning current-account deficit and prop up a sagging rupee, people familiar with the matter told Bloomberg.

HUL to report Q2 earnings
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Kotak Securities is expecting the company to report 15 per cent revenue growth in domestic FMCG business, aided by 10 per cent underlying volume growth and 5 per cent price-led growth. On a segmental basis, it is baking in 17 per cent and 14 per cent YoY revenue growth for home care and personal care segments.

TCS stock to react on Q2 nos
The second quarter performance of Tata Consultancy Services (TCS) shows that the country’s largest software exporter is on a solid footing. For the first six months of the current fiscal, the company delivered a double- digit topline growth in dollar terms for the first time in four years. And, this was without sacrificing operating profitability.

“We expect Ebitda margin to expand 230 bps YoY aided by 100 bps expansion in GM. Impact of higher A&P intensity will be partly offset by cost efficiencies and operating leverage benefits,” it said.

NSE in pact with LME on metal pricing
NSE and NSE IFSC, the international bourse at GIFT City in Gujarat, have entered into a licensing agreement with the London Metal Exchange (LME) to source its base metal prices for settlement of futures contracts. This comes a day before NSE is to launch trading in commodity derivatives.

BSE ties up with Dubai exchange
The Bombay Stock Exchange on Thursday said it has signed a pact with Dubai Mercantile Exchange (DME), international energy futures and commodities exchange in the Middle-East, to explore ways in maximising the potential of the commodities market in India.

FIIs sell Rs 2,869.41 cr worth of equities
Foreign portfolio investors (FPIs) sold Rs 2,869.41 crore worth of domestic stocks on Tuesday, provisional data available with BSE suggested. DIIs were net buyers to the tune of Rs 1,888.18 crore, data suggested.
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