Sensex, Nifty likely to open flat with negative bias; HDFC Bank, Wipro results eyed

The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Wednesday tracking SGX Nifty and global markets. (Express photo)

The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Wednesday tracking SGX Nifty and global markets.

At 8.21 am, SGX Nifty was down 3 points, or 0.04 per cent, at 8,253.50.

Asian shares eked out cautious gains on Wednesday as concerns about corporate earnings hobbled Wall Street while investors counted down to the European Central Bank’s policy meeting later in the week.

Wall Street offered little in the way of a lead with the Dow ending Tuesday 0.1 per cent lower, while the S&P 500 eased 0.14 per cent and the Nasdaq 0.5 per cent.

Back home, Sensex and Nifty declined 58.09 points and 13.40 points at 27,306.83 and 8,261.65 on Tuesday.

The FIIs as per Tuesday’s data were net buyers in equity and in debt segments both, according to data released by the NSDL. In equity segment, the gross buying was of Rs 3,468.06 crore against gross sell of Rs 2,404.93 crore. Thus, FIIs stood as net buyers of Rs 1,063.13 crore in equities. In the debt segment, the gross purchase was of Rs 436.05 crore with gross sales of Rs 393.49 crore. Thus, FIIs stood as net buyers of Rs 42.56 crore in debt.

HeroMotoCorp stocks will be in focus today as the company on Tuesday reported a 1.1% growth in net profit at Rs 772.06 crore during the July-September quarter.

Companies such as Cairn India, JSW Steel, Blue Dart, Wipro, NIIT, Noida Toll, Tata Coffee, HDFC Bank may announce their September quarter earnings on Wednesday.