Markets expected to open higher after a 6-session gaining streak

• Indian markets may open slightly higher as SGX Nifty, an early indicator of the market, is up 0.25%.
• There is some rebound across global markets amid geopolitical tensions between the US and China following US House of Representatives Speaker Nancy Pelosi’s visit to Taiwan.
• L&T, Adani Power, Vodafone Idea among stocks to watch out for on August 4.

Indian markets are expected to open higher following its global peers. Asian stocks were trading higher as investors tracked a rally from the US market due to better-than-expected economic data along with strong corporate earnings, and commentary that boosted investor confidence.

Indian benchmark indices have been rising for the last six sessions. On Wednesday, Sensex closed 214 points higher and Nifty 50 gained 42 points.

However, the markets have also been in a wait and watch mode even while trading slightly higher; ahead of the central bank’s outcome on interest rates tomorrow.

Meanwhile, oil prices rose today, bouncing off multi-month lows in the previous session. There is some rebound across global markets amid geopolitical tensions between the US and China following US House of Representatives Speaker Nancy Pelosi’s visit to Taiwan.

Here are some of the stocks to watch in today’s session


Larsen & Toubro

The conglomerate has signed a memorandum of understanding with the Gujarat government to set up an IT and IT-enabled Services (ITeS) Park in Vadodara with an investment of ₹7,000 crore.

Adani Power
The company posted a manifold jump in consolidated net profit to ₹4,779 crore in June quarter due to rise in income.

Vodafone Idea
The telecom operator reported a marginal fall in consolidated loss of ₹7,296 crore in June quarter as compared to ₹7,319 crore last year.

InterGlobe Aviation
Indigo airline narrowed its net loss at ₹1,064 crore in June quarter, from ₹3,174 crore loss last year. Revenue from operations jumped four-fold to ₹12,855 crore.

INOX Leisure
Its revenue stood at ₹589 crore in the April to June quarter, representing an astronomical 22-fold jump from ₹26 crore revenue reported a year earlier. The company also managed to turn its year-ago quarter’s net loss of ₹101 crore into a profit of ₹74 crore for Q1 of FY23.

Earnings today
Britannia Industries, Dabur India, Adani Enterprises, Adani Total Gas, Balkrishna Industries, Balrampur Chini Mills, Berger Paints India, Gail (India), LIC Housing Finance among companies to report their quarterly results.

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