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Indices likely to open higher; Dr Reddy's, L&T results in focus

May 10, 2023

By: BlinkX Research Team

Benchmark equity indices are expected to open higher today tracking global cues and ahead of a key US inflation reading due later in the day.

Singapore Exchange Nifty futures, an early indicator of the Nifty index, was last trading 31 points or 0.17% higher at 18,342.

Results are expected today with Nifty 50 companies Dr Reddy's Laboratories and Larsen & Toubro. Bosch, Godrej Consumer Products, Gujarat Gas and Escorts Kubota will also be reporting their numbers for the March quarter today. 

On the political front, voting commenced for the Karnataka polls at 7 am — a state that may set the stage for the 2024 general elections.

On the international front, Asian markets slip into the red following a lower close on Wall Street. MSCI's broadest index of Asia Pacific shares outside Japan is down 0.4 percent at this hour.   

U.S. stock indexes closed lower on Tuesday, S&P 500 was down 0.5 percent, Dow Jones Industrial Average slipped 0.2 percent and Nasdaq Composite fell 0.6 percent.

Further, oil prices slipped in early trade after industry data showed a surprise build in U.S. crude stocks.