Nifty futures turned positive in early trade, increasing 18 points to 15,765 on Singaporean Exchange. Trends on SGX Nifty indicate a positive opening for BSE Sensex and Nifty 50 on Thursday. Analysts anticipate higher volatility in stock markets on the back of weekly alternatives expiry day. Investors will react to core sector output information for May 2021, announced post-industry hours on Wednesday. They will also maintain tabs on manufacturing PMI information for June, scheduled to be released later in the day, along with oil cost movement, the Rupee’s trajectory, and foreign fund flow.
Stocks in focus
Maruti Suzuki, Hero MotoCorp: Automobile firms will begin reporting June sales quantity from today. Analysts anticipate improvement in sales numbers on the back of ease in lockdowns, phased reopening of economy and fall in day-to-day COVID-19 instances.
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Vodafone Idea: Vodafone Idea on Wednesday after once again posted a huge loss of Rs 7,023 crore for the duration of the January-March quarter, wider than the Bloomberg consensus estimate of Rs 6,241.07 crore. The loss has widened drastically compared with the prior quarter of Rs 4,540 crore.
HDFC Bank: HDFC Bank expects to regain the lost industry share and make a powerful comeback after the regulator lifts the embargo on issuing new credit cards, Parag Rao- head of customer finance, digital banking and details technologies stated on Wednesday.
ONGC: On the back of increasing international crude oil and all-natural gas costs, analysts in international agencies anticipate state-run Oil and Natural Gas Corporation (ONGC) to increase its overall performance in the ongoing and the succeeding fiscals.
Indian Oil: IOCL stated on Wednesday that the company’s board has sanctioned the initial approval to set up India’s 1st styrene monomer project at an estimated expense of Rs 4,495 crore. The project, with a capacity of 387 thousand metric tonne per annum (TMTPA) will be situated in the company’s Panipat refinery and petrochemical complicated.