1. Sensex, Nifty may open flat with negative bias on Asian cues; Nestle India, Dr Reddy’s in focus

Sensex, Nifty may open flat with negative bias on Asian cues; Nestle India, Dr Reddy’s in focus

The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Friday tracking Asian markets.

By: | Updated: October 30, 2015 8:45 AM
IT stocks Sensex

The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Friday tracking Asian markets. (Photo: Reuters)

The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Friday tracking Asian markets.

Asian shares were down on Friday and on track for a weekly loss as investors, anxious over faltering global growth, fretted about the possibility that the US Federal Reserve could still raise borrowing costs this year.

Hang Seng, Shanghai and Nikkei were down 0.49 per cent, 0.40 per cent and 0.15 per cent, respectively.

SGX Nifty was amost flat, up 0.08 per cent at 8,140.

Back home, Sensex and Nifty fell for a fourth consecutive day on Thursday as market participants continued to square-up positions following last trading session of the October derivatives expiry. Concerns that likely Fed rate hike in December would see outflows from emerging markets, too dampened sentiments. Sensex closed 201 points down at 26,838.14 while Nifty closed 59.45 points down at 8,111.75.

Nestle India stocks will be in focus on Friday after the company after market hours on Thursday reported a 60.1 per cent decline in its stand-alone net profit at Rs 124.20 crore for the third quarter ended September 2015 after Maggi noodles controversy.

Dr Reddy’s Lab will also be in focus as the drug major on Thursday reported 25.74 per cent increase in its consolidated net profit at Rs 721.89 crore for the second quarter ended September 30.

Tags: NiftySensex
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