SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 148 points at the opening bell.
Global markets: Overseas, Asian stocks are trading higher on Thursday after solid earnings boosted Wall Street, easing concerns about peak economic growth and coronavirus flareups. Markets in Japan are closed on Thursday for a holiday.
Wall Street stocks posted their second-straight gain on Wednesday, with robust corporate earnings and renewed optimism about the U.S. economic recovery fueling a risk-on rally.
Domestic markets: Domestic equity indices tumbled on Tuesday, tracking weak cues from other Asian stock markets. The Nifty managed to close above the 15,600 mark after hitting the day’s low of 15,578.55 in early afternoon trade. Barring the Nifty FMCG index, all the sectoral indices on the NSE ended in the red. Asian stocks fell across the board amid mounting concerns about the rapidly surging delta variant of the Covid-19 in several countries. The barometer index, the S&P BSE Sensex, dropped 354.89 points or 0.68% at 52,198.51. The Nifty 50 index slipped 120.30 points or 0.76% at 15,632.10.
ICICI Bank (down 2.14%), HDFC Bank (down 1.9%) and HDFC (down 0.96%) were major drags. Selling was broad-based. The BSE Midcap index fell 1.28% and the BSE Smallcap index lost 1.44%. The market breadth was weak. On the BSE, 1137 shares rose and 2098 shares fell. A total of 108 shares were unchanged. The domestic equity market was closed on Wednesday, 21 July 2021, on account of Bakri Id.
Results today: Bajaj Auto, Bajaj Holdings, Biocon, Can Fin Homes, CSB Bank, Hindustan Unilever, IEX, IndiaMART InterMESH, UltraTech Cement and Wockhardt are slated to announce their June quarter earnings on July 22.
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