The shares of Reliance Industries will be on the lamp light in its annual general meeting on Wednesday. Also, Wipro will be announcing its March quarter results today. As Analysts will watch out for its new management’s strategy where margin commentary will also be in crucial focus.
Today, in line with the global trends, there is a rumor of Indian equities being under pressure. Suggesting a gap down opening for the Indian benchmark indices, SGX Nifty futures were down 0.6% in early deals.
Monday, the BSE Sensex had settled at 36,693.69, up 99.36 points or 0.27% while the Nifty had
closed at 10,815.20 up 47.15 points or 0.44%. Following a volatile session on the Wall Street overnight, Asian shares traded on a mixed note on Tuesday. This has been the directly impacted by the sere number of increased coronavirus cases across the world.
If we look at the current figures, Japan's Nikkei 225 futures added 0.22% in early days, Australian S&P/ASX 200 futures lost 0.76%, while the Kospil fell 0.5 percent.
Also shutting bars and banning indoor restaurant dining in response to the current pandemic, US equities slumped after a strong start in its early days. Moreover, the growing tension between the US and China has been the bitter factor for underlying pressure of US equities.
Biocon Biologics India Ltd also received approval from the Drug Controller General of India (DCGI) last week and will ramp up its capacity to produce itolizumab to avoid any shortage of the drug. Biocon chairperson Kiran Mazumdar-Shaw had said on Monday that it will be used to treat critical covid-19 symptom called cytokine storm.
As temporary supply constraints due to the nationwide lockdown eased with Food price inflation in June slipped to a nine-month low at 7.87 percent. But however, headline retail inflation at 6.09% released after a gap of two months came surprisingly higher than the pre-coronavirus print of 5.84% in March.