Indian markets are likely to open higher on Monday as the early indicator of NSE Nifty, SGX Nifty futures is trading up 0.56% at 9,781 points on the Singapore Stock Exchange. Meanwhile, Asian stocks bounced today after three losing sessions, tracking a firmer Wall Street, while the dollar was weighed down by tensions on the Korean peninsula and the weak US inflation data which dampened prospects of another Federal Reserve interest rate hike later this year.
There are around 636 listed companies which scheduled to announce the first quarter earnings for the financial year 2017-2018 in this week. Out of which, 600 companies are expected to release the earnings report card on Monday itself.
The shares of Coal India, Tata Power, AIA Engineering, Akzo Nobel, Apollo Hospitals, Bajaj Hindusthan, Castex Tech, DB Realty, DCW, Dredging Corp, Future Consumer, Granules, Grasim, IDBI Bank, Jain Irrigation, JK Tyre, MEP Infra, NBCC, Prestige Estates will be in focus today ahead of the first quarter earnings.
Shares of Sun Pharma, Gujarat State Petronet, Sun TV Network, Gitanjali Gems, REC, Bank of Baroda, HDIL, SAIL, Corporation Bank, Suzlon Energy, CESC, BPCL, Dhanlaxmi Bank, Cox & Kings and Praj Industries will be in focus as these stocks will react to the first quarter earnings announced on Friday after market hours. Other stocks like DLF, Adani Ports, United Bank, Ansal Properties, Godfrey Phillip, Mercator, Parsvnath Developers, Vivimed Labs will also be in watch today witnessing the post results movement.
This week is queued up with the release of macro economic data, including key inflation figures for the month of July covering WPI (wholesale price index) for inflation, food, fuel, manufacturing, inflation rate and balance of trade are scheduled for today and forex reserve, loan deposit growth which are set to be out later on Friday. Wholesale inflation for the month of June fell to 0.9% which is the lowest in at least eight months as prices in food articles, including vegetables, declined.
Indian markets on Friday last week:
Indian stock market tumbled on Friday last week, posting the worst weekly fall in over last 18 months as the ongoing cross-border tensions between the United States and North Korea turned the sentiments negative. The overall behaviour of investors was mostly subdued after the Indian market regulator SEBI ordered to the bourses to restrict 331 companies listed on exchanges which are expected to be shell entities and weak earnings also fulled the pessimism amid the market participants.
US Stocks on Friday:
The three major U.S. stocks indexes ended higher on Friday, snapping three days of losses, as investors bet on slower U.S. rate hikes, but gains were muted by increasingly aggressive exchanges between the United States and North Korea.
Weaker-than-expected July consumer price data led investors to bet that benign inflation would keep the U.S. Federal Reserve from raising rates again this year.
President Donald Trump said Friday that the US military was “locked and loaded,” while Pyongyang accused him of driving the Korean peninsula to the brink of nuclear war. The Dow Jones Industrial Average rose 14.31 points to 21,858.32, the S&P 500 gained 3.11 points to 2,441.32 while the Nasdaq Composite added 39.68 points to 6,256.56.