Auto stocks will remain in focus monthly sales data will be released today. Auto sales for the month of June are likely to be higher than previous month but may not reach normal levels due to staggered unlocking across states during the month
Markets are likely to remain in consolidation phase on Thursday while trends in SGX Nifty suggest a negative opening of Indian benchmark indices. On Wednesday, the BSE Sensex ended at 52,482.71, down 66.95 points or 0.13% and the Nifty closed at 15,721.50, down 26.95 points or 0.17%.
Asian stocks slipped Thursday amid a firmer dollar as traders weighed signs that covid-19 flare ups are hampering some of the region’s manufacturing and looked ahead to a US payrolls report.
Japan and China were among the major equity markets posting modest losses. Purchasing managers’ indexes suggested curbs imposed to fight the virus had sapped output in parts of Asia.
US equity contracts rose after the S&P 500 completed one of the best first halves since 1998 for US shares. The recent spread of the delta virus variant is tempering the optimism around the global recovery. The dollar advanced after its best month since March 2020 and Treasuries were steady.
Elsewhere, oil retained a climb ahead of a meeting between Opec+ producers on output policy and as a stalemate in Iranian nuclear talks drags on.
Markets start the second half facing challenges from covid-19 variants and the prospect of diminishing monetary policy support amid inflation pressures. That’s leading to predictions of a pickup in volatility and stirring questions about whether bets tied to economic reopening—such as on cyclical stocks and higher longer-term treasury yields—will prosper.
Auto stocks will remain in focus monthly sales data will be released today. Auto sales for the month of June are likely to be higher than previous month but may not reach normal levels due to staggered unlocking across states during the month. Emkay Global expects volumes to recover from second quarter of FY22 due to easing of lockdowns, pent-up demand and improving macros.
A consortium consisting of Kalrock Capital and UAE-based entrepreneur Murarilal Jalan, the new promoters of Jet Airways (India) Ltd whose insolvency plan was approved by the National Company Law Tribunal (NCLT) last week, cannot claim historicity to obtain airport slots belonging to the airline as it didn't have any operating slots on the day of the commencement of the insolvency process, the bankruptcy court said in the order that was released on Wednesday.
SpiceJet Ltd approved raising up to ?2,500 crore as the loss-making airline seeks to bolster its financial health. The Gurugram-based carrier, which recorded a net loss for the fifth straight quarter, has also decided to hive off its growing cargo operations into a separate entity.
Debt-ridden telecom operator Vodafone Idea on Wednesday reported narrowing of its consolidated loss to ?7,022.8 crore for the quarter ended March 31, 2021.The company had posted a loss of ?11,643.5 crore in the same period a year ago.
Get watch our process Click here Ideal Stock Investment , daliy call profit, Market News, Fill Our ask an Expert form
For Ask An Expert Advice Give A Missed Call On - 0731-4994956
