Indian Shares Set to Open with Gains

| Updated: July 12, 2021 9:29 am

After two days of profit booking, two weeks of losses, the Indian benchmarks are expected to open with gains on Monday. The SGX Nifty Futures in Singapore is trading up by 67 points at 15,795. The benchmark in India closed at 15,721 on Friday.

A total of 11 companies will announce their June quarter earnings reports, however, none of them are part of the index. Hence, their impact on trading activity will be muted. However, outside the market, consumer price inflation data (Scheduled to be announced at noon) is going to play a key role. A Reuters poll estimates the June inflation to be at a seven-month high.

On the other hand, bond yields for 10—year GSec was fixed higher by the Reserve Bank of India, indicating interest rates to remain stable in India.

Stock under investors’ radar

Avenue Supermarket, the operator of DMart, reported higher profit in its earnings report released on Saturday. Higher profits in the first quarter and operations at normal levels now is likely to invite some buying in India’s second-largest retailer.

Granules India: BNP Paribas Arbitrage acquired 28,56,834 equity shares in Granules at Rs 362.27 per share on the NSE on Friday.

Delta Corp: The casino operator continued to report losses in its first quarter despite higher revenue. 

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