Nifty Seen Opening Lower; ITC, Axis Bank Among Stocks In Focus

Nifty Seen Opening Lower; ITC, Axis Bank, L&T Among Stocks In Focus

Foreign institutional buyers offered shares value Rs 2,368.66 crore on Tuesday.

The Indian fairness benchmarks are set to open decrease as indicated by the Nifty Futures traded on the Singapore Exchange. The Nifty Futures on Singapore Exchange also referred to as the SGX Nifty Futures fell 0.25 per cent or 46 factors to 18,287 amid weak cues from different Asian markets. Japan’s Nikkei fell 0.55 per cent, Hong Kong’s Hang Seng index declined 1.46 per cent, South Korea’s KOSPI was down 0.76 per cent and Shanghai Composite index declined 0.7 per cent.

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Overnight, fairness markets gained globally on Tuesday as upbeat company earnings buoyed investor urge for food for riskier investments, whereas gold costs fell practically 1 per cent.

The three main US inventory indexes closed modestly greater on Tuesday, with the Dow Industrials and S&P 500 hitting recent information pushed principally by know-how and healthcare shares.

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On Wall Street, Facebook Inc was the largest drag on the S&P 500 and Nasdaq, after the corporate warned that Apple Inc’s new privateness adjustments would weigh on its digital enterprise.

The Dow Jones Industrial Average rose 0.04 per cent to 35,756.88; the S&P 500 gained 0.18 per cent at 4,574.79; and the Nasdaq Composite added 0.06 per cent at 15,235.72.

Back residence, international institutional buyers offered shares value Rs 2,368.66 crore on Tuesday whereas home institutional buyers purchased shares value Rs 1,385 crore.

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Axis Bank can be in focus after the personal sector lender reported its highest-ever quarterly revenue at Rs 3,133 crore on a standalone foundation, in comparison with Rs 1,682.67 crore within the corresponding interval final yr, marking a progress of 86 per cent year-on-year.

ITC, Bajaj Auto, Larsen & Toubro, Aarti Drugs, SBI Life, Adani Ports, Adani Enterprises, Lupin and Maruti Suzuki can be on buyers’ radar as they are going to report their September quarter earnings later within the day.

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