A total of 37 companies including ONGC, Shalimar Paints, Anant Raj, Fiem Industries are scheduled to announce their quarterly earnings today.
Nifty futures were trading 78.70 points or 0.69 per cent higher at 11,438.50 on Singaporean Exchange, suggesting a higher opening for BSE Sensex and Nifty 50 on Tuesday. A host of factors such as India GDP numbers, eight core industries output and geopolitical tensions are likely to dent investor sentiment. While, Supreme Court’s verdict AGR judgment, PMI Manufacturing data, August auto sales numbers and implementation of the new margin norms will be keenly tracked. “The market may remain under pressure due to the introduction of new margin requirement in the cash segment from 1st September and geo-political tensions between India-China. Any sharp fall in the market would be a good buying opportunity for long term investors to add quality stocks in the portfolio,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
Stocks in focus today:
Maruti, Bajaj Auto, Hero MotoCorp: August auto sales numbers are due today. Analysts expect a recovery in August over July on the back of the festive season, unlock phase and ease in the supply chain. Stocks such as Maruti Suzuki, Hero MotoCorp, Bajaj-Auto, Eicher Motors, M&M will remain in focus today.
Bharti Airtel, Vodafone Idea: The Supreme Court to pronounce the adjusted gross revenue (AGR) judgement today. Telecom stocks such as Bharti Airtel, Vodafone Idea, Reliance Communications, Tata Teleservices will be in focus today.
Larsen & Toubro: Larsen & Toubro (L&T) announced the closure of the strategic divestment of its Electrical & Automation (L&T E&A) business to Schneider Electric, a global player in energy management and automation.
Reliance Industries: RIL in an exchange filing informed that Rs 25,215 crore investment by Brookfield Infrastructure and its institutional partners in Tower Infrastructure trust has been completed after obtaining all regulatory approvals and fulfilling other completion requirements.