INSUBCONTINENT EXCLUSIVE:
At 7:30 am, the Nifty futures were trading higher by 0.2 per cent on Singapore Stock Exchange.The domestic markets are likely to open in the
green, despite rising Covid-19 cases and strained US-China relations
Trends on SGX Nifty indicate a positive opening for the index in India with a 27 points gain
At 7:30 am, the Nifty futures were trading at 11,203, higher by 27 points or 0.2 per cent, on the Singapore Stock Exchange.Asian shares came
under pressure in early Monday trade as tit-for-tat consulate closures in China and the United States fanned worries about worsening
diplomatic ties between the world's two largest economies
Japan's Nikkei fell 1.3 per cent, re-opening after a long weekend
MSCI's broadest index of Asia-Pacific shares outside Japan was flat.Wall Street retreated on Friday, heading into the weekend with a broad
sell-off due to weak earnings, surging coronavirus cases and geopolitical uncertainties.The Dow Jones fell 0.68 per cent, the S-P 500 lost
0.62 per cent and Nasdaq Composite dropped 0.94 per cent.The markets had ended flat, with a negative bias, on Friday; the Sensex had shed 12
points, or 0.03 per cent lower at 38,128.90 and Nifty had closed 21 points, or 0.19 per cent down at 11,194.15.Meanwhile, oil prices edged
lower on Monday as rising coronavirus cases and tensions between the United States and China pushed investors toward safe-haven assets
Brent crude dipped 10 cents, or 0.2 per cent, to $43.24 a barrel by 0041 GMT while U.S
West Texas Intermediate (WTI) crude was at $41.24 a barrel, down 5 cents.On the corporate front, India's second largest private sector
lender ICICI Bank on July 25 reported profit of Rs 2,599.1 crore in the first quarter, a growth of 36.2 percent year-on-year backed by some
stake sale in general and life insurance subsidiaries
But the additional COVID-19 related provisions of Rs 5,550 crore restricted the profit growth.Kotak Mahindra Bank, Tech Mahindra and Marico
are among the major companies to declare their first quarterly results during the day.
