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MARKET LIVE: SGX Nifty suggests a flat start; Mindspace REIT to list today
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Topics
MARKET LIVE | Markets | Vodafone Idea
SI Reporter |
Last Updated at August 7, 2020 07:57 IST
EVENT HIGHLIGHTS
The SGX Nifty is indicating a flat start at around 11,200 levels for the Indian indices today amid mixed global cues. Besides global cues, investors will today focus on corporate results, and other stock-specific action. Midcaps are likely to be the flavour of the day as the circuit filters of more than 600 companies including the likes of Avenue Supermarts, PNB Housing Finance, SpiceJet, and Nelco have been revised upwards.
Vodafone Idea yesterday reported a sharp rise in its losses to Rs 25,460 crore for the June quarter of FY21 due to high provisioning for statutory dues. HPCL, on the other hand, reported a 157 per cent jump in its June quarter net profit on the back of inventory gains and better than industry performance.
Results today
A total of 96 companies, including Mahindra & Mahindra, Cipla, Abbott India, and Cipla, are scheduled to report their quarterly earnings today.
New listing
Mindspace Business Parks REIT is all set to debut on the bourses today. The Rs 4,500-crore IPO was subscribed 13 times during July 27-29.
Global cues
Shares on Wall Street shrugged off a sluggish start and closed higher overnight as investors hoped for a new fiscal stimulus package. Overall, both the Dow Jones and the S&P500 gained 0.6 per cent each while the Nasdaq added 1 per cent. Asia shares were mixed in Friday's early deals. Hong Kong slipped 0.45 per cent, Nikkei was down 0.3 per cent while Kospi gained 0.33 per cent.
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