ECONOMY

Share Market Live: SGX Nifty Signals Tepid Start; Asian Paints, Bajaj Finance, HCL Tech In Focus

A retreat in global stocks moderated Tuesday and U.S. futures climbed as investors assessed the threat posed to the economic recovery from the spread of the delta coronavirus variant.

Equities fell modestly in Japan and China — where banks kept the benchmark loan rate steady — and were little changed in Hong Kong. India’s SGX Nifty 50 Index futures for July delivery fell 0.1% to 15,722.50, while MSCI Asia Pacific Index dipped 0.6%. The NSE Nifty 50 Index fell 1.1% Monday to 15,752.40.

U.S. contracts advanced after the S&P 500 fell the most in two months on a reversal of the reopening trade as cyclicals like energy and financial shares slid.

Oil climbed after sinking on an OPEC+ deal to boost supply into 2022. Bitcoin traded just above the closely watched $30,000 level.

Geopolitical jitters also resurfaced on Monday after the U.S., the U.K. and their allies said the Chinese government has been the mastermind behind a series of malicious ransomware, data theft and cyber-espionage attacks against public and private entities — including the sprawling Microsoft Exchange hack earlier this year.

Back home, HCL Tech, ACC, Nippon Life may react as the companies reported quarterly results after the market closed Monday. Asian Paints, Bajaj Finance, ICICI Prudential, TV18, Network 18 are among the companies scheduled to report earnings Tuesday. HDFC, Bajaj Finance, Bank of India among companies holding their annual shareholders’ meeting. Foreign investors sold net Rs 424 crore of stocks on July 16, according to NSDL website.

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