Markets likely to have a cautious start

Monsoon session of the Parliament and the results of Infy and HDFC Bank, among others, would dictate the sentiment

Markets are expected to open flat with positive bias tracking mixed cues from the Asian peers. The monsoon session of Parliament that begins today as well as the earnings of index heavyweight companies such as HDFC Bank and Infosys would dictate the sentiment on Dalal Street in today’s session.

On Monday, the 30-share Sensex had ended down 43 points at 28,420 and the 50-share Nifty had ended down 6 points at 8,603.

In today’s corporate results calendar, a deluge of companies will announce their April-June quarter results, including Infosys, Hindustan Unilever, Cairn India, HDFC Bank among others.

The monsoon session of Parliament will be crucial as the NDA government would look to pass the controversial Land Bill and GST bill along with other pending and new bills.

GLOBAL MARKETS

Asian shares got off to a wobbly start on Tuesday, while gold prices steadied after plunging more than 4% to five-year lows in the previous session.

MSCI's broadest index of Asia-Pacific shares outside Japan opened flat, and was struggling in early trades.

Japan's Nikkei rose 0.5% as markets reopened after a public holiday on Monday.

At 8:25 AM, the SGX Nifty was trading flat with marginal losses at 0.03%.

STOCKS ON RADAR

Infosys, HDFC Bank, Hindustan Unilever, Cairn India, Asian Paints, Eicher Motors, Idea Cellular, Indiabulls Housing, SKF India, and Whirpool India are expected to announce their Q1 results for FY16.

Reliance Infrastructure Ltd: Reliance Infrastructure-led Mumbai Metro One said it will seek metro operational subsidy from the state government to keep the fares lower.

Bharti Airtel:  India’s largest telecom operator has entered into exclusive talks with France's Orange to sell its subsidiaries in Africa.

SpiceJet: At least more than one-fifth of SpiceJet shares have been pledged, with promoter Ajay Singh pledging nearly 34% of his stake in the low-cost carrier.

Sun TV: Media baron Kalanithi Maran’s Sun TV moved the high court against the Centre’s decision denying it permission to participate in phase-III of FM auctions. Sun TV’s Red FM sought a stay on the e-auction process.

With Reuters input