Nifty futures trimmed losses in early trade and had been down just 8.5 per cent to 15,733 on Singaporean Exchange. BSE Sensex and Nifty 50 had been staring at a cautious start out on Tuesday, on the back of international rout. Investors will closely watch the spread of the Delta variant, April-June quarter outcomes, oil rates, rupee movement against US dollar, and other international developments. Analysts mentioned that the initial quarter outcome season has been a mixed bag so far and has led to sector /stocks particular action which is most likely to continue. Also, it may well provide investors with some insights into the scale of financial recovery via the management commentaries. “Market has been consolidating near its life highs for last couple of weeks. Overall, equity markets have shown strong resilience even though it faces headwinds from the advent of a possible third COVID wave,” mentioned Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
Last day to bid for Tatva Chintan IPO: Today is the final day for investors to bid for Tatva Chintan Pharma’s IPO. The public challenge has been subscribed 15 occasions so far with all categories of investors oversubscribing their portion.
Global watch: Asian stock markets plunged in early trade on Tuesday, following an overnight sell-off on Wall Street. In US, COVID-19 circumstances soared 70% last week, fueled by the Delta variant. The Dow Jones Industrial Average fell 725.81 points, or 2.09 per cent, the S&P 500 lost 68.67 points, or 1.59 per cent, and the Nasdaq Composite dropped 152.25 points, or 1.06 per cent., to 14,274.98.
Economy to develop at 6.5-7% in FY23: The economy will most likely develop at 6.5-7% in FY23 and the price of expansion could additional accelerate thereafter, as the fruits of structural reforms undertaken in the wake of the Covid-19 pandemic will be visible in the coming years, chief financial advisor (CEA) Krishnamurthy V Subramanian mentioned on Monday.
FIIs turn net sellers in Indian stock market place: On Monday, foreign institutional investors (FIIs) offloaded shares worth Rs 2,198.71 crore, even though domestic institutional investors (DIIs) lapped up shares worth Rs 1,047.66 crore on a net basis in the Indian stock market place.
Q1 outcomes: ICICI Prudential Life Insurance Company, Bajaj Finance, Asian Paints, Syngene International, ICICI Securities, Crisil, DCM Shriram, Shyam Metalics and Energy, ITDC, Newgen Software and Jubilant Ingrevia are amongst the firm that will release April-June quarter earnings on July 20.
Call, Place OI: Maximum Call open interest of 67,843 contracts was seen at 16,000 strike, followed by 15,900 strike. Maximum Put open interest of 39,685 contracts was seen at 15700 strike, followed by 15,600 strike.