Wall Street Slumps as Disney and Macy's slam Consumer Shares

US stocks dropped on Wednesday and the Dow Jones industrial average suffered its worst day since February as feeble quarterly reports from Walt Disney, Macy's and Fossil undermined confidence across the consumer sector. 

The consumer discretionary index fell 1.98 percent, notching its worst day in three months, with all but three of its 88 components losing ground.

The biggest drag on the Dow, Disney dropped 4.04 percent after it posted a rare earnings miss. 

Department store Macy's tumbled 15.17 percent to its lowest since 2011, while watch maker Fossil sank as much as 34 percent to a 2009 low after the two companies slashed their full-year forecasts.

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Sensex, Nifty open Flat

The market has opened flat on Tuesday as the Sensex is down 15.74 points at 25673.12. 

The Nifty is down 2.80 points at 7863.25. 

About 396 shares have advanced, 261 shares declined, and 46 shares are unchanged.

HUL is up 1 percent while Adani Ports, Dr Reddy's Labs, Tata Steel and Maruti are top gainers while Hindalco, Tata Motors, Bharti Airtel, NTPC and ONGC are losers in the Sensex.

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F&O cues: Nifty 8100 Call adds 4.1 lakh Shares in Open Interest

Nifty 7700 Call shed 4 lakh shares in Open Interest on May 9

Nifty 7800 Call shed 7.6 lakh shares in Open Interest

Nifty 8100 Call added 4.1 lakh shares in Open Interest

Nifty 7700 Put added 8.2 lakh shares in Open Interest

Nifty 7800 Put added 18.7 lakh shares in Open Interest

Nifty 7900 Put added 6 lakh shares in Open Interest

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Rupee Opens at 66.66 per Dollar; Down 8 Paise

The Indian rupee opened lower by 8 paise at 66.66 per dollar on Tuesday versus previous close of 66.58. 

"The USD-INR pair has come off from recent highs tracking global dollar strength."

"We expect the pair to continue trading in the 66-67/dollar range with a slight weakening bias," he added.

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Indian ADRs: ICICI Bank, Wipro, Infosys Gain

Indian ADRs ended higher on Monday. In the IT space, Infosys gained 1.58 percent at USD 18.69 and Wipro added 1.27 percent at USD 12. 

In the banking space, ICICI Bank gained 1.51 percent at USD 6.73 and HDFC Bank rose 0.91 percent at USD 64.08. 

In the other sectors, Tata Motors slipped 0.30 percent at USD 29.49 and Dr Reddy's Laboratories added 1.69 percent at USD 42.61.

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Asia Mixed in Early trade; Nikkei up 0.4%, Kospi Flat

Asia markets traded mixed on Tuesday, with the Japanese benchmark index leading gains in early trade, ahead of Chinese inflation data due later on Tuesday. 

Australia's ASX 200 was down 0.36 percent, weighed by steep declines in the energy and materials sub-indexes, down 2.21 and 3.13 percent respectively.

In Japan, the Nikkei 225 added 0.38 percent, while across the Korean Strait, the Kospi was flat. 

Angus Nicholson, a market analyst at spreadbetter IG, said gains in the dollar and a pullback in oil prices would dominate markets in the near-term. 

US stocks closed mixed in high-volume trade, with the Dow Jones industrial average was down 0.2 percent, the S&P 500 closed up 0.08 percent and the Nasdaq composite added 0.3 percent.

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Higher Health Stocks and Falling oil leave S&P 500 Flat

Wall Street ended mixed on Monday after a rally in Allergan Plc and other healthcare companies offset a decline in energy shares. 

Five of 10 S&P sectors ended higher, led by the health sector's 1.13 percent increase, while energy and materials sectors both tumbled 1.25 percent. Allergan surged 5.98 percent. 

Teva Pharmaceutical Industries Ltd said it still expected its USD 40.5 billion acquisition of Allergan's generic drug business to close in June.

Chevron Corp fell 1.48 percent as US crude prices dropped 2.8 percent and traders assessed the impact of wildfires on Canada's oil output and a build in inventory.

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Sensex Gains over 250 pts, Nifty Hits 7800

The Sensex is up 298.80 points or 1.2 percemt at 25527.30,

and the Nifty is up 84 points or 1 percent at 7817.45.

About 1128 shares have advanced, 335 shares declined, and 62 shares are unchanged.

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F&O cues: Nifty 7400 Put sheds 8.2 lakh shares in Open Interest

Nifty 7900 Call added 8.5 lakh shares in Open Interest on May 6

Nifty 8000 Call added 12.2 lk shares in Open Interest 

Nifty 7400 Put shed 8.2 lakh shares in Open Interest

Nifty 7500 Put added 5.7 lakh shares in Open Interest

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Rupee Opens Marginally Higher at 66.52 per Dollar

The Indian rupee opened marginally higher at 66.52 per dollar on Monday versus 66.55 Friday.

"The rupee is expected to trade sideways with a positive bias.

We see a narrow range without any strong cues from domestic or global markets." "The trading range for the day is seen between 66.40-66.80/dollar," he added.

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