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Meanwhile, major indices closed 0.1-0.2 percent higher on Wall Street with no discernable trend on sight. The Nasdaq hit a fresh record high of the 3rd day in a row. Commodities were flat-to-weak with Gold Futures hitting a five-year low as 5 Tons of Yellow metal was offloaded in the Chinese market. Indian prices for Gold slumped to `25,000 per 10 grams. Crude Oil Futures inched lower.
The Nifty is likely to see resistance in the 8,637-8,737 zone while support is expected at 8,550 zone. The Index closed flat at 8,603 points, down 6.40 points on Monday. HDFC Bank, Hindustan Unilever and Asian Paints are the other major Nifty companies to report earnings today.
The trend was positive in the Futures and Options space with foreign funds buying a net 714 crore rupees worth of Indian stocks in the cash market. But that was more than offset with a net sale of 849 crore rupees by domestic institutions. The numbers were hugely negative in the derivatives space with Index Futures showing sales of 134 crores; Stock Futures exhibited sales of 686 crores; Index Options had a net sale of 697 crore rupees and Stock Futures were a negative 24 crore rupees.
The Parliament's Monsoon Session begins today. Its likely to be stormy with the Opposition gunning for the ruling BJP on a host of issues, including scandal-hit ministers.
STOCKS TO WATCH:
SUN PHARMA: Gave a warning on its FY16 sales and earnings as the merger with Ranbaxy requires remedial and integration measures. Sun Pharma's prices target was cut by two major brokerages.
BHARTI AIRTEL: May sell 4 of its operations in Africa to Orange, raking in $1 billion.
TATA STEEL: Seeks shareholder nod to raise `10,000 crore via sale of securities.
ULTRATECH CEMENT: Citigroup raises price target on the cement major to `3,500/share from `3,175 earlier.
CIPLA: Okays investment by FIL Cap, Mauritius into one of its subsidiary.
(Image credits: theequitymarkets)