Markets are expected to open marginally higher, indicates a trend from SGX Nifty, Singapore. However, most global markets are ruling in the flat-to-negative territory, signalling volatility.

According to market experts, after two consecutive days of fall, markets will try to regain some strength. Besides, today being the last date of the first quarter (June), markets generally remain resilient due to fund managers’ portfolio churning activity. However, the key concern is the rise of new Covid variant, said analysts.

Also read: Day Trading Guide for June 30, 2021

Currently, SGX Nifty is ruling at 15,827, a 40-point gap-up opening for Nifty futures, which on Tuesday closed at 15,785. The spot Nifty closed at 15,748.45.

US stocks overnight ended on a flat note with the Dow and S&P 500 edging up just 0.03 per cent each, while tech-heavy Nasdaq ended up 0.19 per cent. In morning trade, but for Japan and the Philippines, most Asia-Pacific stocks are up with marginal gains.

The rise in cases of a new Covid variant has started weighing on the sentiment globally and it may cascade to our markets too, said Ajit Mishra, VP - Research, Religare Broking.

“Having said that, the bias is still positive. However, participation is now restricted to a handful of the index majors. We thus suggest limiting naked leveraged positions in the current scenario and waiting for further clarity,” he added.

Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, said: “The Nifty/Sensex failed at 15,900/52,900 level, which is an upward boundary for the market, and weakness from the same could result in gradual weakness towards 15,670/52,300 that is the lower boundary of the trading range, and coincidently 20 days EMA is also placed at the same levels that should act as a reversal point for the market.”

Stocks to watch

AstraZeneca Pharma India Limited has received a notice of demand on June 25, 2021 from the National Pharmaceutical Pricing Authority (NPPA) under the provisions of Drugs (Price Control) Order, 2013 (DPCO, 2013) in respect of Tagrisso tablets containing Osimertinib 80 mg formulation.

Reliance Industries and ADNOC have signed a strategic partnership for world-scale chemical projects at Ta’ziz in Ruwais, Abu Dhabi. This will be a new chlor-alkali, ethylene dichloride and polyvinyl chloride production facility. The project will be constructed in the Ta’ziz Industrial Chemicals Zone, which is a joint venture between ADNOC and ADQ. Under the terms of the agreement, this integrated plant will have a capacity to produce 940 thousand tonnes of chlor-alkali, 1.1 million tonnes of ethylene dichloride and 360 thousand tonnes of PVC annually.

This will be a new chlor-alkali, ethylene dichloride and polyvinyl chloride production facility. The project will be constructed in the TA’ZIZ Industrial Chemicals Zone, which is a joint venture between ADNOC and ADQ. Under the terms of the agreement, this integrated plant will have a capacity to produce 940 thousand tons of chlor-alkali, 1.1 million tons of ethylene dichloride and 360 thousand tons of PVC annually.

NBCC (India) Limited has been awarded work order for engagement as Project Management Consultant (PMC) for undertaking various civil works of Odisha Hydro Power Corporation Ltd. (OHPC). NBCC is the project Management Consultant for this project of value ₹206 crore (approx.).

Results calendar

More than 900 companies will release their quarterly earnings on June 30 including Alankit, Anant Raj, Archies, BF Utilities, BGR Energy Systems, Binani Industries, Brooks Labs, Century Extrusions, Coffee Day, DB Realty, Dish TV India, Emami Realty, Fiem Industries, GM Polyplast, Gujarat State Financial, Hindustan Motors, Indowind Energy, IRCON International, IVRCL, Liberty Shoes, Majestic Auto, McNally Bharat Engineering, MEP Infrastructure Developers, Ortel Communications, Raj TV, Sadbhav Engineering, Sanwaria Consumer, Sequent Scientific, Simbhaoli Sugars, Simplex Infrastructures, SREI Infrastructure Finance, SpiceJet, Ucal Fuel Systems, Vodafone Idea, Vikas EcoTech, VIP Clothing, Zenith Exports, and Zodiac Clothing.

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