An investor monitors stock prices at a securities exchange firm on 2010’s last day of trading, in Shanghai, China. (Photographer: Qilai Shen/Bloomberg)
Live: Nifty Futures Suggests Positive Start; Avenue Supermarts, DHFL, Emami, Infosys In Focus
Nifty Futures Suggests Positive Start; Asia Stocks Slip
Good Morning!
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fluctuated between gains and losses to trade 0.18 percent higher at 11,567 as of 7:55 a.m.
Asian stocks began the week with a cautious tone as investors digested data showing Chinese economic growth slowed in the second quarter amid expectations for further policy support.
Shares in Hong Kong and Shanghai pared declines as activity data in retail and industrial production topped estimates, though indexes across the region remained lower. Futures on the S&P 500 Index were flat.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
Stocks To Watch: BHEL, Emami, Future Enterprises, IndusInd Bank, InterGlobe Aviation
Tata Steel Q1FY20 Updates
- Market spreads for steel producers globally have been affected due to fall in steel prices and rise in iron ore prices.
- In Europe, steel industry is facing significant headwinds in terms of lower economic growth and trade flow uncertainty that is impacting steel consuming products.
- Tata Steel Europe production was impacted by planned shutdowns and unplanned outages during the quarter, while sales were affected due to sluggish demand.
- Resumption of trade talks between U.S. and China and the recent Union Budget announcements in India is expected to translate into a stronger business performance in the second half of the current financial year.
Key Events To Watch This Week
- India June Wholesale Prices Inflation data.
- India June trade balance data.
- U.S. June retail sales, due Tuesday, are expected to rise 0.2% from the prior month, which would be the slowest pace since February.
- Monetary policy decisions are due in Indonesia, South Korea and South Africa on Thursday.
Data Recap
- India June CPI rose 3.18 percent versus 3.05 percent in May.
- India May IIP rose 3.1 percent YoY; Estimated 2.9 percent.
Commodity Cues: Brent Crude Declines
- Brent crude resumed gains after a one-day blip, closed 0.3 percent higher at $66.72 a barrel Friday. The Asian crude benchmark fell 0.2 percent today.
- West Texas Intermediate crude fell 0.1 percent to $60.16 a barrel.
- Gold gained less than 0.1 percent to $1,416.26 an ounce.
London metal Exchange
- Copper ended a two-day gains, closed 0.34 percent lower.
- Lead ended higher for the fifth consecutive trading session, ended 0.18 percent higher.
- Tin resumed declines after a one-day breather, closed 0.79 percent higher.
- Zinc ended higher for the third consecutive trading session, closed 0.4 percent higher.
- Aluminium ended lower for the second day, ended 0.33 percent lower.
- Nickel ended higher for the third consecutive trading session, closed 2.59 percent higher.