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MARKET LIVE: Indices seen opening flat; Nifty may retest 11,500 levels

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Markets | MARKET LIVE | Axis Bank

SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

Markets, Investors, Indices, Stocks
Traders can expect a flat-to-positive start to the domestic indices today, as indicated by the SGX Nifty which hovered around 11,500 levels, on the back of a firm trend in global indices. Besides, investors will focus on stock-specific developments even as they keep a keen eye on Covid-19 and vaccine related newsflow.

Meanwhile, the Supreme Court yesterday reserved its judgment on the AGR case after several rounds of hearing. The court observed that if telecom companies are unwilling to pay their dues, it would direct the Union government to cancel their spectrum allocation and licence.

Future Retail has averted a default by paying Rs 100 crore of interest on its foreign bonds. The interest was paid on the last day of the 30-day grace period granted by the bondholders of the $500-million senior secured notes. READ MORE

Axis Bank said it has reduced the size of the stake that it plans to buy in Max Life Insurance to 17 per cent from 29 per cent. It had initially planned to raise its stake in the insurer to 30 per cent. READ MORE

Results today

A total of 76 companies including Can Fin Homes, Atul Auto are scheduled to announce their June quarter results today.

Global cues
 
The S&P 500 and the Nasdaq reached new record closing highs in overnight trade. Overall, the Dow Jones rose 1.3 per cent, the S&P 500 gained 1 per cent, and the Nasdaq added 0.6 per cent.

Asia’s stock markets also started strong on Tuesday. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent to its highest since early January. Japan’s Nikkei was ruling 1.5 per cent higher. Hong Kong's Hang Seng gained 0.3 per cent and Australia's ASX200 was up 0.7 per cent.

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