Indian shares likely to continue the rally

| Updated: August 4, 2021 8:15 am

After scaling historic highs on Tuesday, it seems that the bull run on the Dalal Street is likely to continue on Wednesday. Cues from the global market are positive. The number of newly affected Covid patients in India are rising, however, it is still restricted to a couple of states.

The Nifty Futures trading in Singapore is up by 0.49% at 16,245 against the close of 16,150 in the Indian session. It indicates that the market is likely to open with a gap.

State Bank of India, the largest bank in India is going to announce its quarterly earnings. After the market close, Bharti Airtel announced its results. Investors will react to these results during the trade today.

Meanwhile, there are new reports that Reliance Retail, a subsidiary of India’s largest company Reliance Industries is in talks to acquire the Indian business of food giant Subway Inc. The stock will also be under the radar.

After 15 straight trading sessions, foreign funds bought shares worth Rs2,100 core on Tuesday, indicating a trend reversal in their trading strategy, further boosting the hopes of a rally.

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