Market Ahead Podcast, June 11: Top factors that could guide markets today.

 Market Ahead Podcast, June 11: Top factors that could guide markets today

Wall Street stocks ended higher in overnight trade, with the S&P 500 closing above its prior record high set on May 7, as economic data appeared to support the Federal Reserve's assertion that the current wave of heightened inflation will be temporary. .

The consumer price index (CPI) data came in above consensus but a closer look showed that much of the price surge was from items such as commodities and airfares, and is therefore likely to be temporary.

The Dow Jones Industrial Average rose 0.06%, the S&P 500 gained 0.47% and the Nasdaq Composite added 0.78%.

Tracking a firm finish for US stocks, Asian markets too opened higher. Japan's Nikkei was up 0.16%, Australia’s S&P/ASX 200 index rose 0.2%, South Korea’s Kospi index added 0.5% and Hong Kong’s Hang Seng index climbed 0.6%.

Boosted by a firm global setup, Indian markets eye a strong start to the day today. Furthermore, a fall in the number of Covid cases in the country is also keeping the sentiment on D-Street upbeat.

At 7.40 am, SGX Nifty was trading 36 points higher at 15,810.

On the Covid front, fresh daily cases remained below the 1 lakh mark for the fourth day straight as India reported 91,000 cases in the last 24 hours. The steady decline in cases is igniting hopes of the further reopening of the economy, providing support to market mood.

Meanwhile, on the macro front, manufacturing and Industrial production data for the month of April are set to be released today post market hours.

Now, a look at the stock-specific triggers that are likely to guide the market today

A total of 57 companies are slated to post their quarterly numbers today, including BEML, BHEL, Cochin Shipyard, DLF and Edelweiss Financial Services.

NHPC reported a nearly 80 per cent YoY jump in its consolidated net profit to Rs 464.60 crore for the March 2021 quarter. Its board approved the proposal to raise debt up to Rs 4,300 crore during the financial year 2021-22.

SAIL reported a 26.4 per cent YoY growth in net profit at Rs 3,444 crore for the March quarter of FY21 (Q4FY21). Earnings before interest, tax, depreciation, and amortisation (Ebitda) came in at Rs 6,473 crore.

Yes Bank on Thursday received board approval for raising up to Rs 10,000 crore by issuing debt securities.

National Fertilizers on Thursday reported narrowing of consolidated loss at Rs 9.53 crore for March quarter 2020-21. The company had reported a loss of Rs 248.65 crore in the year-ago period, NFL said in a BSE filing.