As crude oil trades at around US$75 per barrel, Indian oil marketing companies (OMCs) dipped in the early morning trade on Wednesday. The US Trump administration has announced its withdrawal from the nuclear trade struck by the previous US government and Iran.

Sadbhav Infrastructure Project Ltd. continued its deterioration in net profit Q4FY18. However, the company's revenue grew substantially and it improved operational performance too.

Its EBITDA for the quarter rose by 5.7 per cent YoY to Rs 62.52 crore, with a corresponding margin expansion of 163 bps. Its EBITDA margin for the quarter stood at 21.1 per cent.

Overall volumes in futures & options currently stand at 60.10 crore contracts with a turnover of Rs. 5,49,795.20 crore.

Overall volumes in futures & options currently stand at 60.10 crore contracts with a turnover of Rs. 5,49,795.20 crore.

Going ahead, the levels of 10,760 and 10,785 will act as immediate resistance levels. On the way, the index has strong support in the range of 10,630-10,650. Stocks in the news: Inox Leisure, Tata Steel, Quess Corp, EKC, Nestle, Lupin, Sutlej Textiles, Wockhardt, Hindalco and Tata Global Beverages.

The Indian stock markets are likely to make flat to negative start as underlying sentiment may remain cautious amid rising oil prices and negative cues from Asian peers. The SGX Nifty is trading 34 points lower at 10,707.  

The stock s that are likely to record a significant movement on the bourses on Wednesday, May 9 are Quess Corp, Lupin, HPL Electric & Power, Mcnally Bharat Engineering Company and Federal Bank.    

Pharma major Lupin announced on Tuesday that YL Biologics, its joint venture with Yoshindo and Kyowa in Japan has submitted a new drug application for marketing authorization to the Pharmaceuticals and Medical Devices Agency.

ICICI Bank, one of India's largest private sector banks, posted Q4FY18 and full year results on Monday. The NII for the quarter rose by 1 per cent in Q4FY18 vs Rs. 5,962 crore in Q4FY17. This minimal growth was largely due to higher interest expenses, which increased by 8 per cent yoy. The interest income for the quarter rose by 5.1 per cent yoy.