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MARKET LIVE: SGX Nifty suggests a weak start; Wipro's Q1 results eyed
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Topics
MARKET LIVE | Markets | Wipro
SI Reporter |
Last Updated at July 14, 2020 07:59 IST
EVENT HIGHLIGHTS
(Photo credit: Kamlesh Pednekar)
The Indian markets are likely to open lower on Tuesday, following weak cues from global markets. In today's session, investors will track and react to macro numbers and June quarter results as well as the trend in Covid-19 cases.
HDFC has said it is plans to raise up to Rs 45,000 crore by issuing debt securities, and will seek approval of shareholders in its upcoming AGM on July 30th. Meanwhile, HDFC Bank has conducted a probe into allegations of improper lending practices and conflicts of interests in its vehicle-financing operation involving the unit’s former head, sources have told Business Standard.
A total of 35 companies, including Wipro and Mindtree, are scheduled to announce their quarterly results today. Wipro, like its peers, is expected to post a weak set of numbers for the June quarter. Investors are likely to watch out for the company's strategy under the new CEO, updates on client interactions, and assessment of the impact on IT spend due to Covid-19 pandemic, among other things. READ MORE
Global cues
On the Wall Street, the S&P 500 dropped 0.94 per cent after touching its highest level since February 24 intra-day. The Nasdaq closed 2.1 per cent lower although Dow Jones rose 0.04 per cent. Asian shares also dipped in Tuesdays early deals. Both Australian ASX 200 and Japan's Nikkei slipped 0.6 per cent in early trading while Korea's Kospi lost 0.3 per cent.
HDFC has said it is plans to raise up to Rs 45,000 crore by issuing debt securities, and will seek approval of shareholders in its upcoming AGM on July 30th. Meanwhile, HDFC Bank has conducted a probe into allegations of improper lending practices and conflicts of interests in its vehicle-financing operation involving the unit’s former head, sources have told Business Standard.
Results today
A total of 35 companies, including Wipro and Mindtree, are scheduled to announce their quarterly results today. Wipro, like its peers, is expected to post a weak set of numbers for the June quarter. Investors are likely to watch out for the company's strategy under the new CEO, updates on client interactions, and assessment of the impact on IT spend due to Covid-19 pandemic, among other things. READ MORE
Primary Market update
The second tranche of Bharat Bond ETF will open today for subscription and will close on July 17. There will be two ETFs in this series maturing in 2025 and 2031.
On the Wall Street, the S&P 500 dropped 0.94 per cent after touching its highest level since February 24 intra-day. The Nasdaq closed 2.1 per cent lower although Dow Jones rose 0.04 per cent. Asian shares also dipped in Tuesdays early deals. Both Australian ASX 200 and Japan's Nikkei slipped 0.6 per cent in early trading while Korea's Kospi lost 0.3 per cent.
In commodities, Brent crude was last trading 2 per cent lower at $41.86 per barrel.
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