MARKETS: Indices to eye Fed outcome; SBI, Eicher Motors to report Q2 result

MARKETS: Indices to eye Fed outcome; SBI, Eicher Motors to report Q2 result

LIVE market updates: Trading activity may be light on Wednesday given the long-holiday break and anxiousness ahead of the US Federal meeting outcome later tonight. At 8:10 AM, was up 36 points at 17,956 levels.

Corporate Earnings to Watch

Eicher Motors, Pfizer, State Bank of India (SBI), Aditya Birla Fashion & Retail, Bata India, Centrum Capital, DCM Shriram Industries, GPT Infraprojects, GSPL, Gujarat Alkalies, Precision Wires and Sharon Biotech are some of the companies slated to announce their SEptember quarter results today.

According to analysts, SBI’s Q2 profit may nearly double on a yearly basis to Rs 9,263.3 crore on the back of healthy net interest margin, recovery from DHFL, and lower loan provisioning. READ MORE

Primary Market action

Policybazaar, Sigachi Industries, and SJS Enterprises’ IPOs will close later today. So far they have been subscribed around 1.6 times, 23.12 times, and 51 per cent, respectively.

Global cues

A day ahead of the Fed meeting outcome, the US extended its record winning run on the back of strong corporate earnings. The S&P 500 and Dow Jones were up 0.4 per cent each, while the Nasdaq added 0.3 per cent.

This morning in Asia, the S&P/ASX 200 had rallied 1.4 per cent, and Taiwan Weighted index had advanced 0.4 per cent. Kospi, however, had slipped 0.4 per cent, while Hang Seng and Shanghai Composite were down 0.1 per cent each.

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