TCS, ICICI Bank, Titan among top stocks in focus in Tuesday's trade

The Sensex and Nifty are expected to open lower on Tuesday tracking negative trend in Asian markets which skidded to a four-month low as US President Donald Trump threatened new tariffs on Chinese goods in an escalating tit-for-tat trade war between the world’s two biggest economies that has rattled financial markets.

At 7:50 am, SGX Nifty was trading at 10,731, down 60.50 points or 0.56 per cent.

Among Asian markets, MSCI’s broadest index of Asia-Pacific shares outside Japan lost more than 1 per cent to its lowest level since early June, dragged down by a slide in Chinese shares. The Shanghai Composite Index dropped 1.6 per cent and Hong Kong's Hang Seng shed 2 per cent.

Japan's Nikkei lost 0.8 per cent, South Korea's KOSPI retreated 0.85 per cent while Australian stocks added 0.3 per cent. S&P 500 futures were off 0.8 per cent, pointing to a another down day for Wall Street shares which slipped on Monday.

Here are top stocks in focus today:

ICICI Bank: The ICICI Bank announced that its CEO Chanda Kochhar would be on leave till completion of an external enquiry against her in the Videocon loan matter and named Sandeep Bakhshi as chief operating officer, who would be handling all the businesses.

Glenmark Pharma: Glenmark Pharmaceuticals announced that the US Food & Drug Administration provided its first supplemental Abbreviated New Drug Application (sANDA) approval for the company's manufacturing facility in Monroe, North Carolina.

IDBI Bank: IDBI Bank hiked MCLR rate by 20 basis points across tenors. Term deposit rates now stand at 6.70 per cent.

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Tata Consultancy Services: TCS on Monday opened its new delivery centre in Suresnes, France. The delivery centre, which is located in the Parisian region, can accommodate up to 230 employees, TCS said in a statement.

Titan Company: IT firm Danlaw Technologies India announced the acquisition of 100 per cent stake in Titan Timeproducts Ltd (TTPL), a unit of Titan Company, for Rs 18.5 crore in a cash deal. TTPL, an electronics manufacturing firm, is now a wholly-owned subsidiary of Danlaw Technologies.