Things to know before the stock market opens today

Indian indices closed lower on Friday with Sensex ending the session at 52,586.8, down 66.23 points or 0.13%, and Nifty at 15,763.05, down. Autos and pharma were top gainers, whereas metals and banks were top drags. This week domestic equity markets would be driven by macroeconomic data, quarterly earnings, and RBI interest rate decisions. Besides, global trends and the pace of vaccination would also guide the local equities.

5 things to know before market opens:

Wall Street: Major US indices, Dow, Nasdaq and S&P 500 indexes fell on Friday following a glum quarterly earnings report from Amazon, whereas data showing a strong rise in June consumer spending reinforced optimism about a steady economic rebound.

Asian markets: Asian stocks and U.S. equity futures rose early Monday as some of the concerns over Covid-19 reopening disruption and China’s regulatory crackdown eased, reported Bloomberg. Japan, South Korea and Australia stocks surged in early deals. Futures on the S&P 500 and Nasdaq 100 climbed, with a $550 billion infrastructure package getting closer to passage in the Senate this week.

SGX Nifty: SGX Nifty indicates a flat opening for the Indian stock markets today. Singapore Nifty (SGX Nifty) is the Indian Nifty that is traded in Singapore Stock Exchange and is considered to be the first indication of the Indian markets opening.

Earnings today: HDFC, Punjab National Bank (PNB), RBL Bank, Emami are among of the companies scheduled to announce their quarterly earnings today.

Events this week: This week domestic equity markets would be driven by macroeconomic data, quarterly earnings, and RBI interest rate decisions. Amid fears of a third wave of coronavirus pandemic and hardening of retail inflation, the Reserve Bank is likely to maintain status quo on interest rate and watch the developing macroeconomic situation for some more time before taking any decisive action on monetary policy.

(With inputs from agencies)

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