Domestic benchmark index BSE Sensex plunged 444 points on Monday, while NSE Nifty cracked below 8,800-mark on account of weak global cues. The 30-share index closed 443.71 points down at 28353.54. Nifty 50 index settled 151.10 points down at 8715.60. Factory output, or industrial production figures contracted by 2.4 per cent in July registering the worst performance in eight months mainly on account of declining output in manufacturing and capital goods sectors. Markets were closed on Tuesday on account of ‘Bakri Id’.
Below are 5 things you should know before market opens on Wednesday:
1) Nifty futures on the Singapore Stock Exchange (SGX Nifty) was trading 17.50 points, or 0.20 per cent, down at 8757.50 (at 7.57 am IST), indicating a soft start in the domestic equity markets.
2) Asian peers were trading marginally in red in morning trade. Hang Seng, Nikkei and Shanghai were down by 0.01 per cent, 0.20 per cent and 0.26 per cent, respectively, at the same time.
3) US stocks slipped more than 1 per cent on Tuesday. The Dow Jones Industrial Average index slipped by 258.32 points, or 1.41 per cent, to 18,066.75. The Standard & Poor’s 500 index gave up 32.02 points, or 1.5 per cent, to 2,127.02. Nasdaq Composite declined 56.63 points, or 1.1 per cent, to 5,155.26.
4) GNA Axles IPO will hit capital markets today to raise an around Rs 130 crore. The company has fixed a price band of Rs 205-207 per share for the public offer. The issue will close on Friday (September 16).
5) Shares of Reliance Capital and Coal India will remain in focus today. Reliance Capital’s board on Tuesday approved the independent listing of its home finance business, Reliance Home Finance Ltd (RHF), on the stock exchanges.
Coal India on Tuesday posted 14.78 per cent fall in consolidated net profit at Rs 3,065.28 crore for the quarter ended June 30, 2016 against Rs 3,596.93 crore in the same quarter last year.