Among key companies, Sun Pharmaceuticals, Indian Oil Corporation, Britannia Industries, Marico, UPL, Bandhan Bank, PI Industries, JSW Energy, and Shriram Transport Finance Co. Ltd will release their June quarter earnings today.
MUMBAI: Indian markets are likely to be under pressure on Friday while trends in SGX Nifty suggest a weak opening of Indian benchmark indices. On Thursday, the BSE Sensex closed at 52,653.07, up 209.36 points or 0.40%. The Nifty ended at 15,778.45, up 69.05 points or 0.44%.
US equity futures slid and Asian stocks dipped Friday as traders weighed signs of a slowdown ahead for megacap technology companies and risks from China’s regulatory crackdown. Treasuries and the dollar rose.
Stocks fell in Hong Kong and China as well as Japan. Asia-Pacific stocks had jumped Thursday after Beijing tried to allay fears over regulatory curbs on private industries, but US-listed Chinese equities later resumed declines.
S&P 500 futures also fell. The gauge rose overnight on data signaling scope for the Federal Reserve to keep policy ultra-loose. US economic growth was solid while trailing estimates. Jobless claims dropped but were higher than forecast.
Among key companies, Sun Pharmaceuticals, Indian Oil Corporation, Britannia Industries, Marico, UPL, Bandhan Bank, PI Industries, JSW Energy, and Shriram Transport Finance Co.y Ltd will release their June quarter earnings today.
The Maharashtra Food and Drug Authority (FDA) on Thursday said it has issued notices to e-commerce giants Amazon and Flipkart after it allegedly found that pregnancy termination kits and pills are available for sale on these platforms without prescription.
IFC, and two investment funds managed by IFC Asset Management Company—IFC Financial Institutions Growth Fund and IFC Emerging Asia Fund—have bought a 4.99% stake in Federal Bank Ltd for ₹916 crore, the lender said on Thursday.
The dollar snapped a four-day retreat but is on course for its biggest weekly drop since May. Oil mostly held recent gains on expectations that demand from economic reopening will weather delta-strain Covid-19 flareups.
Stocks are rounding out a volatile week amid Beijing’s clampdown on private enterprise, which sparked a sharp selloff in Hong Kong and China and briefly caused widespread risk aversion. But the Fed’s expansive monetary policy continues to underpin broad market sentiment, after chair Jerome Powell signaled the central bank is moving only gradually toward tapering stimulus if the US makes sufficient economic progress.
(Bloomberg contributed to the story)
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