MARKET LIVE: SGX Nifty trends suggest a negative start for Indian indices

Indian equity indices will today track global cues, trend in coronavirus cases, and corporate results for stock-specific moves.

Moreover, investors will await the second batch of economic stimulus package and relief measures which if announced will lift investor sentiment at least in the short term.

The Street will first react to HDFC Bank's Q4 numbers. The private sector lender reported a 2.5 per cent growth in its pre-tax profit at Rs 9,174.3 crore in the March quarter as it doubled its provisioning and contingencies in light of the Covid-19 crisis. 

RESULT TODAY

Infosys is scheduled to come out with its Q4 numbers and analysts are penciling in a 1 per cent QoQ hit in its revenue growth in constant currency terms for the quarter due to disruptions caused by the Covid-19 lockdown. 

GLOBAL CUES

Investors turned cautious in Asia in Monday's early trade. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 per cent. Japan's Nikkei fell 1.3 per cent and South Korea was down 0.1 per cent.

In commodities, the oil market continues to remain under pressure as the global lockdown saw fuel demand evaporate. On Sunday evening, US May futures contract fell 7 per cent to $16.96 a barrel, a level not seen since November 2001. Brent crude futures was off 32 cents at $27.75 a barrel.

Courtesy : Business Line