Important factors that can drive the market
While live prices fear crude oil inflation and threaten to weigh on India’s import bill, indices look weak ahead of the session. Rising oil prices could also hit the domestic rupee and put oil marketing companies in the spotlight in the current market. That said, individual stocks will also be on investors’ radars after specific news feeds.
At 7:35 AM, SGX Nifty dropped 43 points to 15,820.
Brent rose 1.3 percent to more than $77 a barrel on Monday after OPEC+ ended its days of talks without halting production next year, leaving the market low as it recovered. The world economy is accelerating. Analysts expect the market to continue to grow, pushing Brent above $80 a barrel.
For the global market, US markets closed Monday to celebrate Independence Day. Meanwhile, most Asian markets have opened a higher fraction.
Japan’s Nikkei rose 0.45%, while the S&P ASX200 rose 0.21%. In South Korea, the Kospi 200 index gradually grew by 0.5%.
Now take a look at the stock-specific triggers that could boost the market today
On Tuesday, the government will sell about 7.49% of NMDC Ltd and buy one offer (OFS) at a reserve price of R165 each. The SFO also includes a vegetable shoe option to sell an additional 3.49% stake in the public sector.
Tata Motors said it plans to raise prices for its passenger car range due to rising input costs. The biggest issue for automation did not share details about the timing of the proposed price increase but noted that it would happen soon.
Maruti Suzuki India said total production rose to 1.65 576 units last month as several states eased restrictions on COVID. The company produced 40,924 units in May this year.
Religare Enterprises Ltd (REL) said Monday that its shareholders are adopting a proposal to raise $570 million by issuing shares to investors, including existing shareholders.
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