LIVE stock market updates: The Indian benchmark indices may witness a flat start today, with the SGX Nifty trading with meagre gains at 15,342, at 7:30 AM. Investors will track corporate results, stock-specific developments, and foreign fund flow. Besides, Finance minister Nirmala Sitharaman will today hold the post-Budget meeting of the Reserve Bank of India’s central board where she will outline the main points of the Union Budget 2021-22 and also discuss the roadmap to fiscal consolidation.
Asian shares held firm on Tuesday. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.1 per cent while Japan’s Nikkei rose 0.4 per cent to a 30-year high. The mainland Chinese markets will remain closed for Lunar New Year through Wednesday while Wall Street was also closed on Monday. In commodities, oil prices soared to their highest in about 13 months with Brent crude rising 1.2 per cent to $63.15 a barrel.
A total of seven companies, including Nestle India, Varun Beverages, and GM Polyplast, are scheduled to announce their quarterly earnings today.
A continued increase in in-home consumption and demand for packaged food along with the festive season is likely to have driven the growth for Nestle India during the December 2020 quarter, according to analysts, who see a nearly 10-13 per cent growth in revenue on a yearly basis. READ MORE