MARKETS LIVE: June qtr earnings, economic data, rupee in focus this week

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SI Reporter | New Delhi Last Updated at July 9, 2018 08:59 IST

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After months of hefty pullout, FPIs infuse Rs 30 bn in just five days Foreign investors have pumped in over Rs 30 billion in the Indian capital markets in the last five trading sessions after pulling out hefty funds during April-June. The recent infusion comes following a net outflow of more than Rs 610 billion in the last three months. Prior to that, they had poured in Rs 26.62 billion in March. READ MORE Short-term outlook for the market remains positive: Devang Shah The short-term outlook for the market remains positive till Nifty trades above 10,417 levels and expecting targets in the range of 10,900-11,000 levels in short-term. Medium term outlook for the market remains positive till Nifty trades above 8,968 levels and expecting targets in the range of 12,000-12,200 levels in the medium term. READ MORE Commodity picks: July 9, 2018 Chana Chana is trading at Rs 3,750 per quintal at the Bikaner spot market. In the coming days, prices are expected to head towards Rs 3,800-3,850 per quintal. Low availability in the free market amid robust demand from millers for upcoming festivals would keep prices firm in the near term. READ MORE Nifty outlook and top trading ideas from Prabhudas Lilladher for today Nifty has its daily & weekly trend turned up, however, needs to cross now the crucial hurdle of 10,830-10,850. Bank Nifty continues with its weekly trend down. The support for the week is seen at 10,580 while resistance is seen at 10,900. Auto sector and FMCG continue to be in positive while other sectors, for now, show exhaustion. READ MORE Markets on Friday S&P BSE Sensex 35,657.86 0.23% Nifty 50 10,772.65 0.21% S&P BSE 200 4,629.45 0.27% Nifty 500 9,194.50 0.30% S&P BSE Mid-Cap 15,391.62 0.56% S&P BSE Small-Cap 16,059.94 0.46% SGX Nifty The SGX Nifty was at 10,834, up 0.63 per cent from the previous close.

The upcoming June quarterly results season, along with macroeconomic data on industrial output and inflation, is likely to determine the markets during the week.

That apart, the movement of the rupee against the US dollar and global crude oil prices are also likely to set the course for the benchmark indices.

The June quarter earnings season will kick off this week and IT major Tata Consultancy Services (TCS) is likely to be the first bluechip company to come out with its June quarter result on Tuesday, July 10, 2018. Other major companies like Infosys, IndusInd Bank and Bajaj Corp are also expected to announce their June quarter results this week.

Among key economic data, India's Consumer Price Index (CPI), Index of Industrial Production (IIP) and trade data are likely to be released on Thursday, July 12, 2018.

In the global markets, Asian shares edged higher on Monday, taking cues from Wall Street's advance following the release of strong employment data for the month of June. Meanwhile, trade remained a closely watched area for investors after the US and China exchanged tariffs last week.

Japan's Nikkei 225 rose 1.01 per cent, buoyed by the move higher in construction names and miners, while the pharmaceutical sector led gains in early trade. South Korea's Kospi saw slimmer gains, rising by 0.16 per cent in the morning as tech stocks climbed while manufacturers declined.

(with wire inputs)

First Published: Mon, July 09 2018. 08:15 IST