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Markets are likely to open flat following muted cues from the global peers. Markets shrugged off the developments in Greece yesterday, and staged a recovery to end higher in yesterday’s trades.
On Monday, the 30-share Sensex ended 116 points at 28,209 and the Nifty ended up 37 points at 8,522.
Meanwhile, crude oil prices plunged 6% on Monday amid Chinese crisis and Greece debt crisis. Also, Iran and global powers would meet on July 7 deadline on Iran nuclear deal, which could add more supply of crude oil in the market if the sanctions on Iran are erased.
On the home front, the first quarter earnings season will kick off with Tata Consultancy Services announcing it April-June results on Thursday.
Also, Index of Industrial Production (IIP) data for the month of May is scheduled to be released on Friday.
GLOBAL MARKETS
Asian stocks won a reprieve on Tuesday after sharp falls the previous day but investors remained on edge amid uncertainty over Greece's position in the euro and volatility in mainland Chinese share markets.
Japan’S Nikkei 225 index rose 1.36% on Tuesday while Shanghai Composite is trading 2.88% down.
SGX Nifty is flat with a slight negative bias.
The European markets and the Wall Street fell on Monday amid the Greece crisis, however, most markets were relatively becalmed following the initial selloffs.
STOCKS IN FOCUS
Union Bank: Union Bank to open 100 digital branches this year
TCS: TCS will be announcing it April-June results on Thursday.
OMCs: Oil marketing companies would remain in focus after crude prices plunged amid the Iran nuclear deal negotiations,Greece crisis and Chinese crisis.. BPCL, HPCL, IOC likely to gain.
Maruti Suzuki: In its bid to crack the big vehicle segment, the company is establishing a new set-up of retail outlets under the Nexa brand to sell premium products starting with the coming S-Cross model.
SpiceJet: SpiceJet rolled out another limited period low fare scheme, offering starting ticket prices as low as Rs 1,899 for flights across western and southern domestic network.
Videocon Inds: Videocon Telecommunications has announced free mobile internet usage of up to 750 MB for mobile users who do not use internet currently, as part of a Digital India initiative.
With Reuters input
