Market Ahead Podcast, June 29: Top factors that could guide markets today

Domestic markets are more likely to react to the Finance Minister’s bulletins that had been geared toward boosting financial recovery, and world developments after they open for commerce today.

Early indications recommend a muted begin for Dalal Street as world developments largely stay sombre, whereas most analysts are of the view that FM’s Rs 6.3 trillion package deal, a big portion of which is by the use of credit score assure schemes with no instant outflow, is unlikely to enthuse market a lot and could solely be mildly optimistic. Some motion in shares from healthcare, tourism, fertilisers and monetary sectors on the again of the bulletins can’t be dominated out.

SGX Nifty traded 5 factors decrease at 15,869 round 7.30 am, indicating a flat-to-negative begin.

In the worldwide markets, the Nasdaq and S&P 500 hit all-time highs, fueled by tech shares as buyers count on a strong earnings season whereas rates of interest stay low. The Dow Jones Industrial Average fell 0.44%, the S&P 500 gained 0.23% and the Nasdaq Composite added 0.98%.

Asian shares, nevertheless, dipped on Tuesday amid considerations a extra infectious Covid-19 pressure will derail an financial recovery. Japan’s Topix index and Australia’s S&P/ASX 200 fell 0.8% every, Kospi index dropped 0.3% and Hang Seng Index shed 0.2%.

Oil costs declined amid worries over the unfold of the brand new Covid variant that could dent demand. Brent crude futures dipped 0.1% to $74.58 a barrel after sliding 2% on Monday.

Now, a take a look at the stock-specific triggers that are more likely to guide the market today

DCM, IRCTC, Ruchi Soya, Sintex Industries and Suzlon Energy are among the many firms that will announce their March quarter earnings today.

Standard Life will divest 3.46% or 70 million shares in HDFC Life Insurance Company on Tuesday. The worth vary for the share sale has been fastened at Rs 658 to Rs 678 per share—a reduction of between 2.6% and 5.5% to the life insurer’s final shut.

Triveni Turbine on Monday reported a 69% YoY rise in its consolidated web revenue to Rs 23.28 crore for the March quarter, primarily on account of upper revenue.

Punjab & Sind Bank on Monday mentioned it is going to search shareholders’ approval subsequent month to set off accrued losses of over Rs 3,577 crore from its share premium account.

Dear Reader,

Business Standard has all the time strived exhausting to supply up-to-date data and commentary on developments that are of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on how you can enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these troublesome instances arising out of Covid-19, we proceed to stay dedicated to retaining you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.
We, nevertheless, have a request.

As we battle the financial influence of the pandemic, we’d like your help much more, so that we are able to proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from a lot of you, who’ve subscribed to our on-line content material. More subscription to our on-line content material can solely assist us obtain the objectives of providing you even higher and extra related content material. We consider in free, honest and credible journalism. Your help by extra subscriptions might help us practise the journalism to which we’re dedicated.

Support high quality journalism and subscribe to Business Standard.

Digital Editor

Back to top button