Sensex and Nifty are likely to open lower amid weak Asian markets. The SGX CNX Nifty was trading 0.25 per cent lower at 8,057, indicating a weak start for Indian markets.
Here Are Top 10 Developments:
1) Coffee Day Enterprises shares will get listed on the bourses today. The company, which runs the Cafe Coffee Day chain, had raised Rs 1,150 crore through the initial public offering, which was subscribed 1.6 times and the issue price was fixed at Rs 328.
2) Adani Enterprises and Adani Power will be in focus as they announce their earnings later in the day.
3) Aviation stocks are likely to be in focus after billionaire investor Rakesh Jhunjhunwala on Friday picked up 1.05 per cent stake in Jet Airways for Rs 50.52 crore through an open market transaction.
4) Auto stocks will be in the limelight as the manufacturers come out with the October sales numbers.
5) Market experts remain cautious on their near-term outlook for stocks. They say that Nifty risks falling to below 7,800 levels in the near term on disappointing corporate earnings and caution ahead of the outcome of the Bihar election results.
6) Indian markets had slumped for the fifth session in a row on Friday with sentiment taking a hit due to disappointing corporate earnings and the US Federal Reserve hinting that it could hike rates in December.
7) Analysts would be closely watching the buying activity from foreign institutional investors after the US Fed signaled the possibility of a rate hike in December. FIIs sold Indian shares worth Rs 1450 crore on (net) on Friday in the cash market, reducing their overall buying to nearly Rs 3,000 crore last month.
8) Domestic institutional investors had resorted to profit-taking last month, taking their overall sell numbers to nearly Rs 1,500 crore last month. However, they bought Indian shares worth nearly Rs 1,500 crore on Friday
9) The rupee had ended at 65.27/dollar on Friday, slightly higher than its previous close of 65.29.
10) Asian markets were broadly lower today after data showed that activity in China's manufacturing sector shrank in October for the third straight month. Japan's Nikkei fell over 1.8 per cent while markets in Hong Kong and China were down nearly 0.50 per cent.