Indian markets will wait for cues from US inflation data

Indian markets will wait for cues from US inflation data
  • Indian markets might open on a tepid note as SGX Nifty, an early indicator of the market, was down 0.14%.
  • Asian and the US market traded in the red as ahead of US inflation data.
  • Bharti Airtel, JSW Steel, HDFC and Delhivery among stocks to watch out for on August 10.
Indian benchmark indices are expected to open on a tepid note following its peers ahead of the US inflation data — that will determine the future course of action by the US Fed.

In the meanwhile, China’s consumer inflation has reached the highest level in two years. The US markets also ended lower with tech stocks pushing the indices lower after a dismal forecast from US data storage company, Micron.

The prices of crude oil slightly went up with Brent Crude hovering around $96 per barrel.

On Tuesday, Sensex closed 465 points higher at 58,853 and Nifty50 ended 127 points up at 17,525.

Here are the stocks that would remain in focus.
Bharti Airtel
The telecom operator’s consolidated net profit jumped over 5 times on year to ₹1,607 crore in June quarter led by strong revenue growth and customer addition.

The mortgage lender hiked its benchmark lending rate by 25 basis points, with effect from August 9.

JSW Steel
The company will invest over ₹48,000 crore in the next three years as part of its capex plan.

The tyre maker’s net profit slipped 29% to ₹119 crore in June quarter.

The company will seek shareholders' approval to raise up to ₹12,000 crore through the issuance of non-convertible debentures.

Power Grid Corporation of India
The state-owned company reported a 36% on year fall in consolidated net profit at ₹3,801.2 crore for June quarter while total revenue stood at ₹10,905 crore during the period.

The logistics startup’s net loss widened to ₹399 crore for June quarter as compared to ₹129 crore last year.

Earnings today
Coal India, Eicher Motors, Tata Consumer Products, Pidilite Industries, Hindalco Industries, Indiabulls Housing Finance, IPCA Laboratories, IRCTC, Metropolis Healthcare, Steel Authority of India among others will report their results.

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