Equity benchmarks as well as broader markets continued to trade lower with the Nifty struggling below 8600 ahead of expiry of October derivative contracts.
Oil marketing company Indian Oil Corporation (IOC) is expected to disappoint with its quarterly earnings. Standalone profit is seen falling 61.6 percent sequentially to Rs 3,174 crore as refining margin may fall to USD 4.1 a barrel from USD 10 a barrel in previous quarter. In Q1FY17, margin was boosted by large adventitious gains.
