- India’s benchmark indices Sensex and Nifty50 are likely to open in the green on Monday amid positive cues in global markets.
- SGX Nifty, an early indicator of how the markets may perform, was up 0.19% or 35 points early in the morning today.
- Adani group, Paytm, Britannia and Marico are amongst stocks in focus today.
India’s benchmark indices Sensex and Nifty50 are likely to open in the green on Monday amid positive cues in global markets. SGX Nifty, an early indicator of how the markets may perform, was up 0.19% or 35 points early in the morning today.
Earlier last week, the markets wrapped up a week of volatility in the green despite selling pressure on Friday. While Sensex gained 0.73%, NIfty50 closed 0.96% higher in the last week.
Positive news from the US in terms of jobs data eased recession fears and this reflected in the softening prices of gold and silver. Gold prices fell to ₹60,600 per 10 grams while silver was down to ₹77,000 per kilogram. Crude oil prices, on the other hand, edged up, with Brent crude prices crossing the $75 per barrel mark.
US markets cheer jobs data
Markets in the US cheered jobs data which beat expectations – new non-form jobs stood at 2.53 lakh in April, as against expectations of 1.79 lakh. This led to the Dow Jones rising 1.65%, while S&P 500 rose 1.85%. The tech-heavy Nasdaq rose 2.25%.
Asian markets were largely positive, led by Shanghai Composite which was up 1.69%, while KOSPI gained 0.9% and Hang Seng rose 0.83%. Taiwan Weighted gained 0.61%, but Nikkei 225 was down 0.65%.
Stocks to watch
Adani group: Adani Transmission and Adani Total Gas’ free-float will be lowered to 10% and 14%, respectively from 25% in the MSCI May index review.
One97 Communications (Paytm): The payments company reported a 52% YoY rise in revenue to ₹2,335 crore in the March quarter, while its net loss narrowed to ₹168 crore from ₹761 crore a year ago.
Britannia Industries: The FMCG player has reported a 47% jump in March quarter net profit to ₹557 crore while revenue from operations grew 13% to ₹4,023 crore.
Marico: Parachute and Saffola oil marker has reported 20% on year net profit growth at ₹302 crore for March quarter while revenue rose 4% to ₹2,240 crore. The FMCG player reported 5% volume growth in its India business for the quarter.
Union Bank of India: The lender has reported 93% jump in net profit at ₹2,782 crore while net interest income was up 21% at
Earnings today: UPL, Canara Bank, VIP Industries, Birlasoft, Balkrishna Industries, Exide Industries, Pidilite, Aarti Industries, APollo Pipes among companies to report their quarterly earnings on Monday.
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