Markets to open in red; HUL, ITC & Hero MotoCorp Q2 eyed

Indian markets owing to the news of turmoil in Tata Group started on a jittery note as the benchmark indices remained rangebound and volatile throughout the day on Tuesday, October 25. However, there were lot of individual stocks in action. Nifty again found it difficult to scale above the important resistance levels of 8700; whereas Sensex was also unable to scale beyond 28100 on Tuesday.

European indices began the day on a firm footing. However, as the day progressed all the major indices came under heavy profit taking except of England’s FTSE index. Markets closed down in the range of quarter of a per cent to one per cent.

US stocks closed lower in trade on Tuesday, October 25, courtesy poor earnings and consumer confidence sentiments weighing on the markets. Major indices saw a cut of close to half a per cent.

Asian shares lost in trade on Wednesday, October 26 following the US markets which dropped off after weak set of earnings reported by corporate and falling oil prices. All the indices are trading with minor cuts.

SGX Nifty is trading with losses of 0.38 per cent to the levels of 8665. We expect markets to open in red following Asian peers. Major FMCG and Pharmaceuticals companies' Q2 would be in focus along with HDFC & Jubiliant FoodWorks.