Sensex, Nifty likely to open lower; Coffee Day Enterprises, Axis Bank, Hero Motocorp, Tech Mahindra
Episode 308, Jul 31, 2019, 02:19 AM
Indian shares are likely to open lower on Wednesday, in line with Asian stocks, on renewed worries over US-China trade war following threats from US President Donald Trump to Beijing.
In global markets, investors also await an expected interest rate cut by the US Federal Reserve for the first time since the financial crisis more than a decade ago. The expected easing has supported risk asset prices worldwide.
On Tuesday, Indian benchmark indices ended lower on Monday with Nifty50 slipping below 11,100 level for the first time since March 2019. The benchmark indices were mainly dragged by banking, metal and auto indices.
The Sensex settled 289 points lower, or 0.8 percent, to close Monday's trade at 37,397. The Nifty50 also lost 104 points, or 0.9 percent, to settle at 11,085.
At 7.20 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, traded 35 points, or 0.32 percent, lower at 11,062.50, indicating a negative start for the Sensex and the Nifty 50.
Stocks to watch: Coffee Day Enterprises, Axis Bank, Hero Motocorp, Tech Mahindra in focus.