Nifty witnessed selling in last hour of trade to erase its opening gains on Monday and closed below the 15,700 mark. The weakness was mainly on back of selling in 10-year bond prices where India 10-year bond yield crossed 6.2% and this may put further pressure on rupee in the near-term. Although, trading range of 15,620-15,900 prevails for almost for a months, but markets remains vulnerable to larger decline as USDINR is firmly trading above breakout levels of 74.50.
U.S markets rose on Monday, with the Nasdaq and the S&P 500 hitting record highs as investors awaited the start of the Q2 earnings season and a batch of economic data to gauge the next leg of the equity market. Asian indices were trading higher as investors awaited the release of China’s trade data for June. Trends on SGX Nifty indicate a gap-up opening for Nifty with a 136 points gain.
Stocks to watch/Key news
Reliance Industries- Jio added maximum subscribers for the third consecutive month in April
Astral and Strides– These stocks will be included in F&O from July 30.
Avenue Supermarts– The Company will not be eligible for Nifty inclusion as it is not a part of F&O
Bharti Airtel– Added 5.17 lakh subscribers in April vs 4-month average of 44 lakh
Vodafone-Idea– losses 18.1 lakh subscribers in April, market share declines 20 bps MoM
FDC– launches Favipiravir oral suspension to treat mild-to-moderate Covid cases
Shilpa Medicare– approves transfer of API business to a subsidiarySunteck Realty– Q1 pre-sales up 74%, collections up 164% YoY
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