INDIAN BENCHMARKS Negative opening seen for Markets; Manufacturing PMI eyed
The key Indian equity benchmarks may witness a gap down opening on Monday tracking a sell-off in global stock markets as weak US consumer data raises worries over the health of the world’s biggest economy, curbing the lure for risky assets. SGX Nifty is trading 52.00 points lower.
This week, shares of HDFC, Adani Ports and Hero MotoCorp will be in focus as the companies unveil their report cards for the quarter ended March 31, 2016. Also, the April manufacturing PMI, a snapshot of the health of the country’s manufacturing sector, will be released today.
India's stock markets closed unchanged after a volatile trading session on Friday as gains in energy stocks, following a recovery in crude prices, were offset by disappointing quarterly results from ICICI Bank and HCL Technologies. The S&P BSE Sensex and CNX Nifty rose 0.01%-0.03% each.
Asian shares fell in early trading on Monday, with Japan's Nikkei plunging after the dollar notched a fresh 18-month low against the yen.
US stocks posted their largest weekly drop in more than two months on Friday as earnings reports continued to weigh, but the S&P 500 and Dow managed to close up for April after strong showings mid-month.
European shares fell on Friday to register their biggest weekly drop in more than two months, with travel and leisure stocks among the top losers after updates from British Airways owner IAG and Restaurant Group.
Major Headlines of the day:
Lupin looks to strengthen brand, specialty business in the US
Apollo launches new 250 bed hospital in Visakhapatnam.
RPG Life Sciences March quarter net plunges 52
Trend in FII flows: The FIIs were net sellers of Rs -205.30Cr in the cash segment on Friday while the DIIs were net buyers of Rs 28.13 Cr, as per the provisional figures