It looks like it could be a bit of a subdued start to begin trade with for starters, Wall Street ended lower. The Dow Jones was down 1 percent and NASDAQ was down close to about 10.2 percent.

There are concerns about the possibility of a US debt ceiling stand off as the deadline approaches retail sales were a Miss Home Depot guidance was a bit subdued. Chinese data has also come in lower than what the street was anticipating and that's the reason why crude prices too have seen a bit of a decline.

The China industrial production data has come in at 5.6 percent was estimates of 10.9 per property investment. New home sales have declined. Copper prices are at a five-month low. Zinc is trading at an October 2020 low. So commodities are a bit on the back foot, hence keep your eye out on metals this morning.

Brent crude is currently around $70 per barrel mark. The Indian market still in the last 1, 1.5 hour on trade maybe by due to the Nifty expiry. But there was a sharp sell-off particularly in the banking names. Yesterday, the markets took a step back in terms of flows. The FIIs bought Rs 400 crore in the cash market. So their inflows continue now. They have bought more than Rs 16,000 in the May. The DIIs sold Rs 886 crore.

When it comes to earnings reactions, Bharti Airtel revenues were a miss, the margin have come in in line with what the street was anticipating. Consolidated revenue growth has come in much lower than what the street was anticipating. It's just a 0.5 percent top line growth. The estimates were for a 2 percent growth. JPL is also a miss compared to estimates the company has reported in a bid of 2186 crore than our estimates of more than 2500 crow profits of 466 compares with the poll of 1100 but there is an exceptional loss of 150. But even if you add that back to the profitability, GSP margin and profits are a miss. Gramin is a good set of numbers. It looks like a top down miss because the top line for Metropolis is down 7.6 percent estimates were for a 2 percent decline that lead to a miss on margins and lead to a miss in profit.

Reddington is a mixed bag, strong top line growth 26 percent revenue growth year on year, but margins have been declining for the company. Margin were down quarter on quarter and on year on year basis. The big earnings to watch today are Jubilant Foodworks.

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