Indian Markets Start Flat On Weak Global Cues

In line with global cues and weak Asian markets, Indian indices started on a weak note. At around 9:16 am, Sensex was weak by 54 points, while Nifty was down by 15 points below 15800. Broader markets traded higher with gains of 0.25% on Nifty Midcap 100.

In the US, indices recorded a fall on the indices after inflation came in higher than expected at surprisingly 13-years high. Benchmark bond yields also recorded a jump there. Meanwhile other triggers that shall be watched include quarterly earnings and WPI inflation among others.

Among sectoral indices, all of the indices, barring financials, bank and pharma traded higher.

Infosys Q1FY22 results are due today and ahead of that the stock is trading marginally higher. Analyst expect Infosys to report PAT higher by 27-30% YoY and also see the IT major to up guidance for FY22.

Zomato's Rs. 9375 crore IPO shall kick off today. The price band has been fixed between Rs. 72-72.

Adani Enterprises subsidiary firm Adani Airport Holdings has acquired Mumbai International Airport (MIAL) from the GVK Group.

Shares of battery manufacturers Amara Raja will be in focus after the Maharashtra government announced on Tuesday that EVs in the state will attract financial incentives ranging from Rs 10,000 to Rs 20 lakh. Also, real estate societies will be offered rebates in prperty tax for setting up charging stations.

Meanwhile, Asian markets are trading week with a drag of up to 0.86% on Shanghai Composite index