Maruti Suzuki, Vodafone Idea, HDFC Bank, ONGC, Oil India, stocks in focus today

Analysts expect high volatility in stock markets on the back of weekly options expiry day. Image: Reuters

Nifty futures turned positive in early trade, rising 18 points to 15,765 on Singaporean Exchange. Trends on SGX Nifty indicate a positive opening for BSE Sensex and Nifty 50 on Thursday. Analysts expect high volatility in stock markets on the back of weekly options expiry day. Investors will react to core sector output data for May 2021, announced post-market hours on Wednesday. They will also keep tabs on manufacturing PMI data for June, scheduled to be released later in the day, along with oil price movement, the Rupee’s trajectory, and foreign fund flow.

Stocks in focus

Automobile companies will start reporting June sales number from today. Analysts expect improvement in sales numbers on the back of ease in lockdowns, phased reopening of economy and fall in daily COVID-19 cases.

Vodafone Idea on Wednesday once again posted a big loss of Rs 7,023 crore during the January-March quarter, wider than the Bloomberg consensus estimate of Rs 6,241.07 crore. The loss has widened significantly compared with the previous quarter of Rs 4,540 crore.

HDFC Bank expects to regain the lost market share and make a strong comeback once the regulator lifts the embargo on issuing new credit cards, Parag Rao- head of consumer finance, digital banking and information technology said on Wednesday.

Indian Oil: IOCL said on Wednesday that the company’s board has sanctioned the initial approval to set up India’s first styrene monomer project at an estimated cost of Rs 4,495 crore. The project, with a capacity of 387 thousand metric tonne per annum (TMTPA) will be located in the company’s Panipat refinery and petrochemical complex.