Stock market
Stock market
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Markets seem to open on a slight positive to the flattish note as indicated by the SGX Nifty. The Asia-pacific region opening before the Indian markets, has shown steadiness despite the surge in COVID-19 cases due to delta+ variant. Australian city Sydney imposed a two-week lockdown. Crude oil is edging higher and trading above $75 a barrel ahead of the OPEC+ meeting. Mohit Nigam, Head, PMS - Hem Securities, said the meeting is expected to announce a supply increase but it might fall short of the global demand. For Nifty, the levels of 15,600 on the downside and 15,900 on the upside need to be watched closely.

At close, the 30-share BSE benchmark was up 226.04 points, or 0.43 percent at 52925.04, and the Nifty was up 70 points, or 0.44percent, at 15860.40 on Friday (June 25).

During the last week, the 30-share BSE benchmark gained 580.59 points or 1.10 percent.

Asian markets mixed

Asian stock markets were trading mixed in early trade on Monday. Japan’s Nikkei 225 slipped in morning trade while the Topix index gained 0.11 percent. Australian stocks also slipped, as the S&P/ASX 200 fell 0.32 percent.

US stock indices on Wall Street, ended mixed on Friday. The Dow Jones Industrial Average rose 0.69 percent, while the S&P 500 gained 0.33 percent. The Nasdaq Composite dropped 0.06 percent.

Macroeconomic data, global trends,

Macroeconomic data, the pace of vaccination and global trends would be the major drivers for the domestic equity markets this week, analysts said.

Besides, the progress of monsoon will also be monitored.

'This week marks the beginning of the new month also, so participants will be eyeing the high-frequency indicators like auto sales and manufacturing PMI during the week. Besides, the progress of monsoon will also remain on their radar.

'While the pace of vaccination drive is certainly encouraging as it gives hope of further unlocking by the states, the cases of new COVID variant might derail the plans,' said Ajit Mishra, VP Research, Religare Broking, said, according to PTI.

'This week, the market is expected to continue its focus on global events as the domestic market lacks key triggers. Manufacturing PMI data is the major domestic economic data awaiting its release this week,' Vinod Nair, Head of Research at Geojit Financial Services said.

Market participants would also monitor the movement of Brent crude, investment pattern of foreign institutional investors and the rupee.

Nirali Shah, Head of Equity Research, Samco Securities said, 'Domestic indices are expected to mirror global equities. June auto sales numbers would give investors a fair idea around the revival of ground-level sentiment.' 'Investors will be watching the progress on daily caseload, vaccination ramp-up and monsoon progress in the near term,' said Binod Modi, Head Strategy at Reliance Securities.

Quarterly results announcements

NALCO, Aarvee Denims, Autoline Industries, Bartronics India, Eros International Media, Future Lifestyle Fashions, Federal-Mogul Goetze, Gammon India, GIC Housing Finance, IFCI, ISGEC Heavy Engineering, KPI Global Infrastructure, NLC India, Premier Explosives, Sadbhav Infrastructure Project, Surya India, Triveni Turbine, V2 Retail, Viceroy Hotels, Vivimed Labs, Welspun Corp, and Zee Media Corporation will announce their quarterly results todayy.

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Free Press Journal