Nifty Futures Indicate Weak Start For Indian Markets; Yes Bank, Wipro In Focus

NDTV Profit Team

17 Jul 2019, 08:52 AM IST

Nifty pre-open: SGX Nifty fell 0.12 per cent or 14 points to 11,632.

Indian equity benchmarks are set to open marginally lower as indicated by the Nifty futures traded on the Singapore Exchange. The Singapore Nifty also known as SGX Nifty was last seen trading 14 points or 0.12 per cent lower at 11,632. Meanwhile, other Asian markets also indicated a weak start for the Sensex and Nifty, as equities in these markets drifted lower after a lacklustre performance by Wall Street, while the dollar got a lift from robust US retail data and a Brexit-driven dive in the pound.

Early action was muted with MSCI's broadest index of Asia-Pacific shares outside Japan off 0.18 per cent. Japan's Nikkei eased 0.3 per cent and South Korea KOSPI declined 0.8 per cent. While E-Mini futures for the S&P 500 were flat.

Overnight, the Dow eased 0.09 per cent, while the S&P 500 lost 0.34 per cent and the Nasdaq 0.43 per cent. Not helping the mood was a threat from US President Donald Trump to put tariffs on another $325 billion of Chinese goods.

Back home, S&P BSE Sensex and NSE Nifty 50 indexes rose for a second session in a row yesterday paced by gains in Yes Bank, Tata Motors, Adani Ports and Sun Pharma.

Stocks To Watch: Wipro, Yes Bank, KNR Construction, DCB Bank, Sadbhav Infrastructure

Wipro will be on investors' radar as it will report April-June quarter earnings later in the day.

Yes Bank will be in focus ahead of its June quarter earnings due later in the day. For the quarter ended March 30 - the last quarter of financial year 2018-19, Yes Bank reported a net loss of Rs. 1,506 crore due to high provisions, as against a profit of Rs. 1,179 crore for the corresponding period a year ago.

DCB Bank will be in focus after its net profit declined 16 per cent sequentially to Rs 81 crore in June quarter. The bank's gross non-performing assets as a percentage of total advances spiked to 1.96 per cent from 1.84 per cent sequentially.

Sadbhav Infrastructure will be in focus after it informed exchanges that its toll revenue from 10 operational special purpose vehicles rose nearly 2.3 per cent to Rs 281.26 crore versus Rs 274.99 crore in the same period last year.

KNR Construction will be in focus after the company said it has received order worth Rs 847 crore from Navayuga Engineering Company for Palamuru Rangareddy Lift Irrigation Scheme.