Market Likely To Open Flat

Indian equities market crashed more than 2% due to lower-than-expected GDP data and sell-off in global equities. The BSE Sensex and NSE Nifty tanked 586.65 points and 185.45 points at 25,696.44 and 7,785.85. The broader markets, too, lost ground; the BSE Mid-Cap index and BSE Small-Cap index shed 1.96% and 2.17% respectively.

August sales:

In two-wheeler: Hero MotoCorp’s sales decline by 13.97% where as TVS sales rise 1% in August. Eicher Motors, the Royal Enfield maker, has reported a massive 59% growth in August sales.

Passenger cars sales: Maruti sales grew by 8.6% where as M&M passenger vehicles sales (which include utility vehicles, cars and vans) declined 7%. Tata Motors passenger vehicle sales increased by 2%.

Commercial Vehicle:  Ashok Leyland continued to register strong sales growth of 39% due to pre-buying ahead of ABS (anti-lock braking system) norms mandatory from October 1. Tata Motors CV sales dropped 4%. Eicher Motors's VE Commercial Vehicles sales increased 20.2%.

U.S. stocks plummeted Tuesday as continued signs of weakness in China and concerns about the Federal Reserve weighed heavily on investor sentiment. The S&P 500 sank 58.33 points, or 3%, to 1,913. The Dow Jones Industrial Average lost 469.68 points, or 2.8%, to 16,058.35. The Nasdaq Composite slumped 140.40 points, or 2.9%, to 4,636.10, falling into negative territory for the year.

European stocks slid Tuesday, coming under pressure after disappointing data on factory activity in China and in parts of the eurozone. German manufacturing activity hit a 16-month high, but French and Italian activity each reached four-month lows. The Stoxx Europe 600 fell 2.7% to close at 352.89. Germany’s DAX 30 index dropped 2.4% to 10,015.57, adding to its 7% tumble in August. France’s CAC 40 index fell 2.4% to 4,541.16. Spain’s IBEX 35 closed down 2.6% at 9,992.80. The FTSE 100 dropped 3% to 6,058.54.

Asian stocks fell, following a decline in U.S. shares, tracking offshore losses driven by persisting concerns over the health of China's economy. Japan’s NIKKEI 225 index up 0.8% in volatile trade where as South Korea’s Kospi index retreated 0.48% and New Zealand’s NZX 50 Index lost 1.3%. Australia’s S&P/ASX 200 Index fell 1.39% ahead of a report on the nation’s economic growth. China's Shanghai Composite index extended losses by 2.9% on Wednesday.

A SGX CNX Nifty Index future for September delivery was up 19.5 points at 7,809. Indian market is likely to open flat.