Nifty futures were trading 9 points lower at 15,754.50 on Singaporean Exchange in early trade. BSE Sensex and Nifty 50 were set to open in the negative territory on Wednesday.
Nifty futures were trading 9 points lower at 15,754.50 on Singaporean Exchange in early trade. BSE Sensex and Nifty 50 were set to open in the negative territory on Wednesday. Investors will track Covid-related newsflow, oil price movement and rupee trajectory for market direction. Besides, corporate results, stock-specific developments and other global cues will also be watched by market participants. In absence of any trigger, analysts expect further consolidation in the index. “It’s prudent to continue with a stock-specific trading approach. Needless to say, stability in the banking index is critical for further directional move in Nifty else the lackluster move would continue,” Ajit Mishra, VP – Research, Religare Broking Ltd said.
Global watch: Asian stock markets were trading lower in early trade on Wednesday, with Japan’s Nikkei 225 falling 0.3 per cent. The Topix index fell 0.2 per cent and South Korea’s Kospi declined 0.18 per cent. Wall Street stocks ended mixed in overnight trade on Wednesday. The Dow Jones Industrial Average fell 0.09 per cent, the S&P 500 gained 0.02 per cent and the Nasdaq Composite added 0.31 per cent.
FII and DII data: On Tuesday, foreign institutional investors (FIIs) lapped shares worth Rs 1,422.71 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 1,626.98 crore in the Indian equity market on June 8, as per provisional data available on the NSE.
Q4 results today: A total of 37 BSE-listed companies including GAIL India, Bata India, Bajaj Healthcare, BCL Industries, Dynamic Cables, Gayatri Highways, GSS Infotech, Indian Metals & Ferro Alloys, Indraprastha Medical Corporation, Munjal Auto Industries, Shivam Autotech, Star Cement, Taneja Aerospace, and TeamLease Services, are scheduled to announce January-March quarter earnings on June 9.
Sona BLW IPO opens June 14: Sona BLW Precision Ltd, or Sona Comstar, an automotive component manufacturer’s Rs 5,550-crore initial public offering (IPO) will open for subscription on June 14, 2021.
World Bank cuts India’s FY22 GDP: The World Bank on Tuesday has slashed India’s GDP forecast to 8.3 per cent for FY22, the fiscal year starting April 2021, as against its earlier estimate of 10.1 per cent. It has further projected India’s growth to be 7.5 per cent in 2022, even as its recovery is being hampered by an unprecedented second wave of the Covid-19, the largest outbreak in the world since the beginning of the deadly pandemic.