Sensex, Nifty may open flat today
Domestic equity markets are likely to begin first trading session of the July derivative series on a flat-to-positive note amid favourable global cues
Domestic equity markets are likely to begin first trading session of the July derivative series on a flat-to-positive note amid favourable global cues. Some support will come as chief economic adviser KV Subramanian said food inflation is likely to moderate on account of the twin impact of opening up of economic activities and good monsoon and attributed the rise in food prices to restrictions imposed by several states during April-May to deal with the second wave of Covid-19.
Traders may take note of the report that with domestic retail fuel prices jumping to record high on rising international oil rates, India has pressed oil cartel OPEC for affordable oil price within a reasonable band and that the producers should phase out production cuts.
The US markets ended higher on Thursday as traders were encouraged to see a bipartisan deal on infrastructure spending as well as some positive reports on the economy. Asian markets are trading in green on Friday tracking gains on Wall Street overnight after US President Joe Biden embraced a bipartisan Senate infrastructure deal.
Back home, Indian benchmark indices ended the final session of the June series of futures & options (F&O) over half a per cent higher, with major contribution from IT, TECK and Banking stocks amid a positive trend in global markets. Key indices made an optimistic start, as traders got some support with the commerce and industry ministry in its latest data has shown that foreign direct investment (FDI) equity inflows into India increased by 60 per cent to $4.44 billion in April 2021 as against $2.77 billion in the same month last year.
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