Stock Market Live: Nifty Futures Point To A Weak Start Ahead Of Weekly Expiry

Good Morning!

Indian stock benchmarks lost some steam after posting losses for two sessions in a row.

The S&P BSE Sensex ended 20 points lower at 51,309 on Wednesday, while the NSE Nifty 50 ended flat at 15,106.

Futures are again indicating a weak start to Thursday’s session. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, is little changed at 15,069 as of 8 a.m.

Aurobindo Pharma, Indraprastha Gas, Metropolis Healthcare, Bata India, among others, may react to their quarterly results reported after market hours on Wednesday.

Three Nifty 50 companies — Coal India, ITC and Power Grid — will announce their earnings on Thursday, along with broader market stocks such as Ashok Leyland, ACC, Natco Pharma, Allcargo Logistics, Piramal Enterprises.

Meanwhile, the U.S. equity futures edged down this morning as investors assessed the implications of weaker-than-expected American inflation data for the so-called reflation trade that bets on a recovery from the pandemic.

A gauge of Asian stocks was steady, with volumes low as markets in China and South Korea were closed. The dollar held losses in the wake of the inflation report. Crude oil dropped after a spell of gains.

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