A host of quarterly earnings, including that of IT giant Infosys and two-wheeler major Hero MotoCorp, will set the tone for the domestic market on Tuesday.
Let's check out what might matter to Dalal Street during the day:
Singapore trading sets stage for firm start
Nifty futures on the Singapore Exchange were trading 21.50 points, or 0.20 per cent, higher at 10,540.50, indicating a positive start for the Nifty50.
Tech view: Nifty50 eyes a break above10,550
The index has broadly negated its formation of lower highs-lower lows of last six weeks and closed above multiple hurdle of 10,450-10,480 zone, said Chandan Taparia of Motilal Oswal Securities. The expert feels that the index needs to hold 10,450 to witness an up move towards 10,550 level. Downside support has shifting higher to 10400 level from 10,350 level, he said.
Asian shares see modest gains
Asian stocks bounced modestly on Tuesday, gaining a toe-hold after a week of heavy losses, although increasing tensions between Saudi Arabia and the West fanned geopolitical concerns and capped gains, Reuters reported. MSCIs broadest index of Asia-Pacific shares outside Japan nudged up 0.25 per cent. Japans Nikkei added 0.3 per cent following a decline of nearly 2 percent the previous day.
Oil prices jump over 1%
Oil prices rose on Tuesday on signs of falling Iran oil exports ahead of U.S. sanctions against Tehran in November, while geopolitical tensions remain over a missing Saudi journalist. International benchmark Brent crude for December delivery rose 9 cents, or 0.1 per cent, to $80.87 per barrel, Reuters reported.
Italy approves deficit-hiking budget
The Italian cabinet on Monday signed off on an expansionary 2019 budget, boosting welfare spending, cutting the retirement age and hiking the deficit to set up a showdown with authorities in Brussels over compliance with EU rules, Reuters reported.
US stocks end lower
The Dow Jones Industrial Average index fell 89.44 points, or 0.35 per cent, to 25,250.55. The S&P500 index lost 16.34 points, or 0.59 per cent, to 2,750.79. The Nasdaq Composite index dropped 66.15 points, or 0.88 per cent, to 7,430.74, Reuters reported.
Key Q2 earnings today
Infosys, Hero MotoCorp, Federal Bank, CRISIL, Mahindra CIE Automotive, J&K Bank, Shakti Pumps and menon Pistons are among a dozen companies, which will announce their quarterly results later in the day.
RIL to get controlling stakes in Den, Hathway
Reliance Industries may soon buy controlling stakes in two of Indias largest cable TV and broadband service providers, Hathway Cable & Datacom and DEN Networks, as it seeks to ramp up coverage of its ambitious high-speed broadband network. Key people with direct knowledge of the development said RIL is likely to own more than 25 per cent each in the two companies.
WPI climbs to 5.13% in September
Indias wholesale price inflation (WPI) rose to 5.13 per cent in September from 4.53 per cent in August, pointing to likely further rise in retail inflation going ahead. Data released last week showed a moderate rise in Indias retail inflation to 3.77 per cent in September from 3.69 per cent in the previous month.
Trade deficit hits a 5-month low
Indias trade deficit declined to a five-month low in September even as exports contracted, providing some respite from the rising gap that has sparked concern about the current account deficit (CAD). The gap between exports and imports, or trade deficit, declined to $13.98 billion in September from $17.39 billion in August following slower growth in imports.
DIIs buy Rs 295 cr worth of equities
Foreign portfolio investors (FPIs) bought Rs 64 crore worth of domestic stocks on Monday, provisional data available with BSE suggested. DIIs were net buyers to the tune of Rs 294.78 crore, data suggested.
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