Mumbai, April 28: The BSE Sensex is set to open lower on Wednesday, mirroring the steep losses in world equities after downgrades of Greece and Portugal’s credit ratings curbed risk appetite of global investors.
Top mobile operator Bharti Airtel is likely to unveil March quarter earnings before the market opens. A Reuters poll showed Bharti may report a quarterly net profit of 20.78 billion rupees, a 7.2 percent fall from a year ago as tariff war hit the sector.
Metals stocks such as Sterlite Industries and Hindalco may fall, as base metal prices dropped in London on Greek and Portugese debt woes.
The MSCI’s measure of Asian markets other than Japan was down 1.5 percent by 0237 GMT, while Japan’s Nikkei shed 2.5 percent.
The Nifty India stock futures in Singapore were down 1.3 percent.
On Tuesday, the 30-share BSE index shed 0.3 percent to 17,690.62, snapping a five-day winning streak.
STOCKS TO WATCH
* JSW Energy after an executive said the company plans to invest 40 billion rupees in FY11 for expansion.
* Sintex Industries Ltd after the company said its board would meet on April 30 to consider stock spilt.
* Petronet LNG Ltd after the company reported a 52 percent drop in March quarter net profit.
—-Agencies