BSE Sensex, NSE Nifty likely to open lower on weak global cues

The Indian stock markets are likely to open in red tracking SGX Nifty and other Asian markets.

At 8.32 am (IST), SGX Nifty was trading 0.72 per cent lower than its previous close.

Asian markets were weak with Hang Seng, Shanghai index and Nikkei 225 down 1.20 per cent, 0.63 per cent and 1.09 per cent at 24,202.17, 3,903.26 and 20,495.40, respectively.

Companies like Dolphin Offshore, MOIL, Natco Pharma, Lovable, Oil India, Indian Hotels, Coal India, Ashok Leyland, IDBI, Jubilant Industries, Zicom, Voltas, Wheels India, Ruby mills, Max India, Wonderla, India Cements and Jindal Steel are some of the major companies which may announce their earnings on Wednesday. Apart from earnings, inflation, industrial and manufacturing data will be in the watch out list later in the day.

On Tuesday, the benchmark BSE Sensex and NSE Nifty declined 0.84 per cent and 0.74 per cent to 27,866.09 and 8,462.35, respectively.

The Dow fell 1.2 per cent and the S&P 500 shed 1 per cent as China’s currency move on Tuesday added to worries about the global economic outlook and hit companies with large exposure to China, such as Apple Inc and Caterpillar.