Markets likely to open on a subdued note

Today, markets are expected to make a soft-to-cautious start as cues from the global markets are subdued. As the earnings season kick-starts, all eyes will be on IT major TCS and its guidance. The SGX Nifty suggests that the Nifty could open around the level of 10,623, with marginal loss of around 15 points at the opening bell.   

The companies that will announce their earning today include TCS, IndusInd Bank, Bajaj Corp, Shree Cement, 5Paisa Capital, Hindustan Media Venture and Sintex Plastics Technologies.  

Asian stock markets are mostly trading lower on Thursday, mirroring overnight cues from Wall Street.  Japan’s Nikkei index has slid 81 points, Hong Kong’s Hang Seng has shed 30 points and China’s Shanghai Composite dipped 2 points. 

Back home, benchmark indices ended Wednesday’s session with marginal losses as traders preferred to take profits off the table, ahead of the start of corporate results season. The broader indices ended flat with negative bias as Nifty Mid-Cap ended lower by 0.14% and Nifty Small-Cap closed at the neutral line. Sector-wise, IT stocks remained on buyer’s radar as these stocks surged by 2.24%. At the closing bell, Nifty ended at 10,632, down by 5 points, and BSE Sensex lost 10 points to close at 34,433.  

In the US, after the record run, all major benchmark indices took a breather on Wednesday as traders took home some profits. A report indicating Chinese officials have recommended slowing or halting purchases of the US treasuries weighed on the markets. The S&P 500 and Nasdaq closed in the negative terrain for the first time in the 2018. The Dow lost 17 points to settle at 25,369.   

The majority of European indices ended in the negative territory on Wednesday. The DAX of Germany slipped 0.78%, CAC 40 of France fell 0.35% and FTSE 100 of the UK ended higher by 0.23%.