Sensex, Nifty may open in red; key things to know before opening bell

Asian stocks traded mixed on Monday morning trade, with multiple major markets in the region closed for holidays. Markets in Australia, mainland China

  • Updated On - June 14, 2021 / 08:52 AM IST
Sensex, Nifty may open in red; key things to know before opening bell
Dalal Street saw a big plunge

SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 63 points at the opening bell.

In economic data, Wholesale Price Inflation (WPI) and Consumer Price Inflation (CPI) inflation for May 2021 is due today, 14 June 2021

India’s index of industrial production (IIP) rose by a sharp 134.44% in April 2021, as per data from the National Statistical Office which stressed that the numbers are not strictly comparable with April 2020 when the country was in the midst of a national lockdown. April’s industrial output was just 0.08% higher than the pre-pandemic levels of April 2019. On a sequential month-on-month basis, April’s IIP contracted 12%.

Leading exchanges BSE and NSE will suspend trading in the shares of Dewan Housing Finance Corporation Ltd (DHFL) with effect from Monday. The move, aimed at avoiding “market complications”, comes against the backdrop of the National Company Law Tribunal (NCLT) approving Piramal Group’s resolution plan for the bankrupt-DHFL.

Global markets: Overseas, Asian stocks traded mixed on Monday morning trade, with multiple major markets in the region closed for holidays. Markets in Australia, mainland China and Hong Kong are closed on Monday for holidays.

US stocks rose slightly on Friday with the S&P 500 adding to its new record. The S&P 500 climbed 0.2% to a fresh closing high of 4,247.44, a second record close in a row. The Nasdaq Composite advanced 0.4% to 14,069.42 with Apple, Microsoft and Netflix all registering gains. The Dow Jones Industrial Average gained 13.36 points to 34,479.60.

Meanwhile, leaders of the Group of Seven wealthy nations staked their claim Sunday to leading the world out of the coronavirus pandemic and crisis, pledging more than 1 billion coronavirus vaccine doses to poorer nations, vowing to help developing countries grow while fighting climate change and backing a minimum tax on multinational firms. The G-7 also backed a minimum tax of at least 15% on large multinational companies to stop corporations from using tax havens to avoid taxes, a move championed by the United States.

Domestic markets: Back home, key indices ended with small gains on Friday, supported by firmness in IT pivotals. The barometer index, the S&P BSE Sensex, rose 174.29 points or 0.33% at 52,474.76. The Nifty 50 index gained 61.60 points or 0.39% at 15,799.35.

Foreign portfolio investors (FPIs) bought shares worth Rs 18.64 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 666.36 crore in the Indian equity market on 11 June, provisional data showed.

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