Important Information For July 11 Stock Trading Strategy

The Indian equity benchmarks are set to open lower on Monday as indicated by the Nifty Futures traded on the Singapore Exchange. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures fell 108 points or 0.66 per cent to 16,120.

The Indian equity benchmarks logged in third straight weekly gain for the week ended June 8 as easing commodity and crude oil prices ignited hopes that inflation will cool down going ahead and central banks across the world will hold back interest rate hikes, analysts said. 

For the week, Sensex advanced 1,574 points or 2.97 per cent to close at 54,482 and Nifty gained 468 points or 2.97 per cent to settle at 16,221.

Here are key things to know before market opens on Monday:

Asia Markets

Most of the Asian markets were trading lower as investors braced for a U.S. inflation report that could force another super-sized hike in interest rates, and the start of an earnings season in which profits could be under pressure.

An upbeat U.S. June payrolls report already has the market wagering heavily on a rise of 75 basis points from the Federal Reserve, sending bond yields and the dollar higher.

Japan's Nikkei rose 0.9 per cent, Hong Kong's Hang Seng fell 2.25 per cent, South Korea's KOSPI advanced 0.1 per cent and Taiwan Weighted fell 0.6 per cent.

US Markets

Wall Street capped a winning week with a sputtering finish Friday, as stocks waffled following a stronger-than-expected report on the U.S. jobs market.

The S&P 500 slipped 0.1 per cent after earlier flipping between a loss of 0.9 per cent and a gain of 0.4 per cent. Despite its weak finish, the benchmark index delivered just its third winning week in the last 14.

The surprisingly strong jobs report showed that employers are continuing to hire despite worries about a possible recession. However, the hotter the economy remains, the more likely the Federal Reserve is to continue raising interest rates sharply in its fight against inflation.

Crude Oil and Gold Price Check

Benchmark U.S. crude oil for August delivery rose $2.06 to $104.79 a barrel Friday. Brent crude for September delivery rose $2.37 to $107.02 a barrel.

Gold for August delivery rose $2.60 to $1,742.30 an ounce. Silver for September delivery rose 5 cents to $19.24 an ounce and September copper fell 5 cents to $3.52 a pound.

Foreign Flows

Foreign institutional investors on Friday sold shares worth Rs 109 crore while domestic institutional investors bought shares worth Rs 35 crore. 

Rupee Check

The rupee declined by 10 paise to close at 79.23 (provisional) against the US dollar on Friday, tracking the strength of the American currency in the overseas market.

At the interbank foreign exchange market, the local currency opened at 79.20 and finally ended at 79.23, down 10 paise over its previous close of 79.13.

Stocks In Focus

Tata Consultancy Services: The country's largest IT company on Friday reported a 5.2 per cent year-on-year rise in consolidated net profit to Rs 9,478 crore for the first quarter ended June 30. 

The consolidated revenue from operations increased 16.2 per cent year-on-year to Rs 52,758 crore in the first quarter of FY23.

Avenue Supermarts: Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, on Saturday reported over six-fold jump in its consolidated net profit to Rs 642.89 crore for the quarter ended on June 30, 2022, helped by a "very good recovery" in overall sales and a comparative low YoY base.

The company had posted a net profit of Rs 95.36 crore in the April-June quarter a year ago, said Avenue Supermarts in a BSE filing.

Its revenue from operations was up 93.66 per cent to Rs 10,038.07 crore during the quarter under review against Rs 5,183.12 crore in the corresponding quarter last fiscal.

Tata Motors: Tata Motors on Saturday said it has increased prices of its passenger vehicle range with immediate effect to partially offset the impact of rising input costs.

A weighted average increase in price of 0.55 per cent will come into effect starting Saturday across the range, depending upon the variant and model, the homegrown auto major said in a statement.

The company has taken extensive measures to absorb a significant portion of the increased input costs, it said.

Adani Group Shares: Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said.