Market participants will closely track quarterly earnings of Wipro, Infosys and HCL Technologies, scheduled to announce results this week
Rallying for the seven straight days BSE Sensex and Nifty 50 look to start the week yet again in the positive territory on Monday. Today, a mini-ratna public sector undertaking Mazagon Dock Shipbuilders and UTI Asset Management Company (AMC) shares will debut on stock exchanges. Besides, market participants will closely track quarterly earnings of Wipro, Infosys and HCL Technologies, scheduled to announce results this week, also macroeconomic data such as IIP, CPI and WPI data, and global trends will also be watched out. Investors will also keep tabs on rising COVID-19 cases, oil prices, rupee movement and other global cues. “We feel the recent buoyancy in the banking, financials and IT majors could help the Nifty to retest 12,100 zone ahead. On the flip side, the 11,600-11,800 zone would act as a cushion in case of any profit-taking,” said Ajit Mishra, VP – Research, Religare Broking Ltd.
SGX Nifty in green: Early morning trends on SGX Nifty suggested a gap-up start for the headline indices on Monday. Nifty futures were trading 55.50 points higher at 12,016.50 on Singaporean Exchange.
New listing in BSE, NSE: The recently concluded IPOs of UTI AMC and Mazagon Dock Shipbuilders are scheduled to debut on stock exchanges on today. Analysts expect Mazagon Dock Shipbuilders to list with a premium over issue price, while they see a discount listing of UTI AMC.
FII and DII data: On Friday, foreign institutional investors (FIIs) offloaded shares worth Rs 39.39 crore, whereas domestic institutional investors (DIIs) lapped up shares worth Rs 126.61 crore in the capital market on a net basis, according to the provisional data available on the NSE.
Global watch: Asian stock markets were trading higher on Monday with Shanghai composite up 1.13 per cent while the Shenzhen component gained 1.35 per cent. South Korea’s Kospi jumped 0.62 per cent. In overnight trade on Friday, US stocks rose with S&P 500 and Nasdaq registering their biggest weekly percentage gains since July. The Dow Jones Industrial Average rose 0.57 per cent, the S&P 500 gained 0.88 per cent and the Nasdaq Composite added 1.39 per cent.