Market Likely To Open In Red

After a choppy day, Indian equities market ended with heavy losses as earnings of some of the biggest companies’ disappointed investors and opposition protests in Parliament renewed concern a political logjam will stall key economic bills. The Sensex was down 237.98 points or 0.8% at 28182.14, and the Nifty slipped 74 points or 0.9% at 8529.45. The broader markets slide more than the benchmark indices. The BSE Mid-Cap index shed 1.42%. The BSE Small-Cap index dropped 1.59%.

U.S. stocks closed lower on Tuesday, with Disappointing earnings from several big U.S. companies put pressuring the Dow Jones industrial average 1%. IBM and United Technologies plunged about 5.9% and 7%, respectively due to reported earnings that didn't meet forecasts or included dimmer outlooks. Telecommunications stocks were among the biggest decliners. The Dow Jones Industrial Average tumbled more than 180 points or 1% while the S&P 500 index declined 0.43%, and the NASDAQ Composite index fell 0.21%.

Commodities remained in focus, with gold struggling to hold above USD 1,100 an ounce after falling below that psychologically key level to a five-year low on Monday where as WTI Crude oil also attempted to recover from recent lows, trading above USD 50 a barrel. WTI Crude oil futures for August delivery settled down 2 cents at USD 50.89 a barrel on the New York Mercantile Exchange. Gold futures ended down USD 3.30 at USD 1,103.50 an ounce.

European stocks closed lower snapping a nine-session rally, as investors turned away from Greece and toward the corporate-earnings season. Greece's stock exchange remained closed, while the local banks reopened on Monday for the first time in three weeks. The pan-European STOXX 600 ended the day down by around 1%, having traded lower throughout the session. The German DAX finishing 1.1% lower and the French CAC too closed around 0.7% down, while London's FTSE 100 dipped to close 0.3% lower. Peripheral bourses also fell, with Spain's IBEX 35 down 0.8% and Italy's FTSE MIB around 1.3% lower.

Asian stocks got off to a bumpy start on Wednesday after earnings dragged down U.S. equities, with investors turning their attention to domestic data releases and the fall in commodity prices. Japan’s NIKKEI 225 index fell 1.2%. South Korea’s Kospi index slid 1.1% same as Australia’s S&P/ASX 200 Index. China's benchmark Shanghai Composite index traded at flat.

A SGX CNX Nifty Index future for July delivery was down 38 points at 8,515. Indian markets likely to open in red. Alstom India, AVT Natural, Bajaj Finserv, Bajaj Finance, BF Investment, Ceat, Concor, Foseco, Heidelberg cement, Heritage Foods, Hester Biosciences, Bharti Infratel, International Travel House, JSW Energy, KPIT Technologies, Kalyani Steels, Muthoot Finance, Network18 Media, Novartis, Pokarna, PVR, SKS Microfinance, Tata Metaliks, Texmaco Rail, TV18 Broadcast And United Breweries would be reporting first quarter earnings today.