Indian shares may open with a downward bias

| Updated: August 10, 2021 8:47 am

Indian share markets are likely to open with downward bias on weak global cues. Huge profit-booking by mutual funds on Monday is also going to weigh on the market sentiments. The stock market in the US closed mildly down on concerns surrounding earlier than expected rate hikes. Similar sentiments, coupled with the spread of delta variant is visible on trading in the Asian markets.

SGX Nifty is trading 18.5 points down. Markets in China and Hong Kong are also trading down. After two days of sharp decline, commodities are up on bargain hunting. Like Monday, trading in regular hours is likely to be stock specific.

Reliance Industries will be on the radar as the company forayed into the lithium-ion battery segment. A wholly-owned subsidiary of the company acquired a stake in a US-based firm on Monday. After a stellar listing, Zomato Limited will be in focus today as it announces its quarterly earnings report card. 

Your email address will not be published. Required fields are marked *