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Tuesday November 3, 09:30 AM
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BSE Sensex seen down; Maruti, Reliance Comm eyed
MUMBAI (Reuters) – The BSE Sensex (^BSESN : 16632.01 -222.92
) is set to open lower on Tuesday after a three-day weekend, with sharp drops in world markets expected to keep investors jittery.
"We should open lower today, taking into account the damage that has happened in the world markets on Friday," said Mehul Dedhia, assistant vice-president of sales at brokerage Sharekhan.
Although the mood recovered a bit in some markets on Monday, the tumble on Friday was steep to dent the sentiment, he said.
"The weakness will continue to be there in the near term as there is no positive trigger," Dedhia said.
Top car maker Maruti Suzuki and Mahindra and Mahindra will be in focus after their October vehicle sales grew 32.4 percent and 26 percent respectively.
Reliance Communications (RCOM.NS : 166.6 -1.5) could face pressure after the No. 2 mobile operator said its quarterly net profit fell more than half, as network expansion costs, derivative losses and
low-paying users weighed.
State Bank of India (SBIN.NS : 2242.9 -11.75) will be watched after the leading lender posted a 10.2 percent rise in September quarter net profit and said it expects loan growth and margins to revive.
Consumer goods maker Hindustan Unilever will be on the radar after it reported a 21.6 percent drop in September quarter net profit.
Asian shares were muted with the MSCI's measure of Asian markets other than Japan trading 0.2 percent lower by 0321 GMT. Japanese markets were shut for a public holiday.
The Nifty (^NSEI : 4941.75 -63.8) India stock futures in Singapore were trading 0.7 percent lower, indicating the domestic market will open lower.
On Friday, the 30-share BSE index closed 0.97 percent lower at 15,896.28.
STOCKS TO WATCH
* Wind turbine maker Suzlon Energy after its July-September loss widened.
* State Bank of Mysore after its board approved raising 6 billion rupees through a rights issue to shareholders.
* Alfa Laval India Ltd after it won an order worth 700 million rupees from Vietnam's PetroVietnam Group for supply of equipment and engineering solutions.
* Real estate firm Ackruti City Ltd after its July-Sept net plummeted nearly 90 percent.
(Reporting by Ami Shah and Swati Pandey; Editing by Ranjit Gangadharan)
(For more news on Reuters Money visit http://www.reutersmoney.in)
