INDIAN BENCHMARKS Markets may open in red following weak global cues.
The key Indian equity benchmarks are likely to witness a gap down opening as foreign investors remain jittery amidst the amended India-Mauritius tax treaty that imposes capital gains tax on investments coming from Mauritius. SGX Nifty is trading 6.50 points lower.
Shares of Glenmark and Nestle India will be in focus as they unveil their March quarter earnings today.
All eyes will be on the March industrial output and April consumer inflation data to be released today.
Indian shares fell on Wednesday, snapping two straight sessions of gains, on concerns the government may amend tax treaties with countries including Singapore after it agreed to tax capital gains on foreign investments from Mauritius. The S&P BSE Sensex and CNX Nifty fell 0.68%-0.49% each today.
Asian shares fell on Thursday following a dismal day on Wall Street, while crude oil futures gave back some of their overnight gains after jumping on an unexpected fall in U.S. crude inventories.
U.S. stocks closed lower Wednesday, under pressure from disappointing Disney and Macy's earnings, amid sharp gains in oil following a surprise inventory draw.
European shares slipped on Wednesday as some weak earnings reports pushed the market lower after two days of gains.
Major Headlines of the day:
Sanofi recalls batches of Combiflam after regulator alert.
Adani Power raises Rs 330 crore through NCDs.
Hero enters motorcycle racing in tie-up with German specialist.
Trend in FII flows: The FIIs were net sellers of Rs -362.19 Cr in the cash segment on Wednesday while the DIIs were net buyers of Rs 729.59 Cr, as per the provisional figures.