Markets

Indian Market Likely To Open On Cautious Note

(RTTNews) - Indian stocks may open on a mixed note Wednesday morning as investors are likely make cautious moves due to weakness in Asian markets.

Uncertainty about a potential U.S.-China trade deal and the ongoing unrest in Hong Kong pulled down stocks in most of the markets across the Asia-Pacific region today.

US President Donald Trump on Tuesday threatened to impose "even higher" tariffs on China if Beijing failed to sign a trade deal.

European markets closed mixed overnight and U.S. stocks failed to hold gains and ended on a mixed note after a choppy trading session.

The focus in the Indian market is likely to be on individual stocks with corporate news setting the trend.

Investors will also be tracking movements of the rupee and crude oil for direction.

Wipro Limited said on Tuesday that it has signed a Memorandum of Understanding with the University of Oulu, Finland, to collaborate in the areas of wireless communications in 5G/6G at GHz, THz and light wave frequencies under the University's 6G flagship program.

Jet Airways will be in focus on reports the Committee of Creditors might allow Synergy Group four weeks time to submit bid for Jet Airways.

Siemens reported a net profit of Rs 333.9 crore for the quarter ended 30 September 2019, up 18.3% over its previous in the year-ago quarter. Full-year profit rose 22% to Rs 1,099.4 crore, the company said.

Reliance Industries announced that Reliance Jio will consider an appropriate increase in tariffs in the next few weeks. Vodafone Idea and Bharti Airtel have already said they would hike tariffs from December.

NBCC Limited said in a regulatory filing that it has bagged a project worth Rs 500 crore from the environment ministry to develop National Museum of Natural History in the national capital.

The benchmark BSE Sensex ended up 185.51 points, or 0.46%, at 40,469.70, after scaling a low of 40,290.21 and a high of 40,544.13 intraday. The National Stock Exchange's Nifty 50 index ended up 55.60 points, or 0.47%, at 11,940.10.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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