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Global mkts in red; weak Nifty opening seen

US markets saw a decline for the fourth straight day as December retail sales failed to meet expectations. The US 10-year treasury yield fell 6 basis points to 1.84 percent.

The Indian equity market is expected to open on a slightly weak note today with the SGX Nifty trading at 8290, down 36 points at 7:40.

US markets saw a decline for the fourth straight day as December retail sales failed to meet expectations. The US 10-year treasury yield fell 6 basis points to 1.84 percent.

European markets too closed with sharp losses. The FTSE was down 2.4 percent and CAC down 1.6 percent.

Asian markets are mixed in morning trade. Japan’s core machinery orders increased by a smaller-than-expected 1.3 percent for the month of November and the reading is significantly lower than a 5.0 percent rise forecast but an improvement from a 6.4 percent decline in October.

Back home, all eyes will be on IT behemoth TCS’ earnings. According to a CNBC-TV18 poll, Q3 is expected to be a muted quarter with a 0.5 percent dollar revenue growth, and it is factored in. The profits could be higher by close to 4 percent due to higher other income. Margins are expected to be slightly higher but key will be outlook on FY16. 

From the auto space, Bajaj Auto could see a 9 percent revenue growth due to higher export volumes. Profits, however, are likely to decline 6 percent this quarter to Rs 850 crore.

Furthermore, hope is in the air for SpiceJet as the cash-strapped airline is all set to submit a revival plan to market regulator Sebi. The airline is likely to seek a one-time exemption from an open offer as the new investor’s stake could exceed 25 percent after fresh fund infusion.

Stay tuned for more.

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