Indian markets are likely to start Thursday, May 14, on a positive note as global cues remained supportive and GIFT Nifty indicated a strong gap-up opening. Investors will closely track corporate earnings, FII-DII activity, crude oil prices and key macro data scheduled during the day.
Stocks results today
Several major companies are scheduled to announce their results today, including JSW Steel, HAL, Muthoot Finance, IRFC, HUDCO, Apollo Tyres and Oil India. Around 148 companies are expected to declare their earnings during the day, keeping stock-specific action in focus.
Large-cap names such as HDFC Bank, ICICI Bank, Reliance, Infosys, TCS, SBI and Airtel may also remain in focus during the session.
FII and DII data
Foreign institutional investors remained sellers, with FIIs selling shares worth Rs 4,703 crore. Domestic institutional investors supported the market with buying worth Rs 5,869 crore.
FIIs also sold Bank Nifty futures, indicating mixed positioning ahead of expiry. Traders may watch for sharp moves during the session due to expiry-related volatility.
Global market update
Global cues remained positive ahead of the opening bell. GIFT Nifty was indicating a strong gap-up opening of around 150 points, while Dow Futures were trading around 100 points higher.
The Nasdaq closed around 300 points higher, while Japan’s Nikkei was trading nearly 400 points higher. Crude oil continued to trade elevated near $107 per barrel, which may keep crude-sensitive sectors in focus.
Economic calendar today
On the macro front, investors will track WPI inflation data, which is scheduled around 12 noon. The previous WPI inflation reading stood at 3.88%.
The U.S. Retail Sales data will also be released later in the day around 6 PM, which could influence global market sentiment.
Indian ADR update
Among Indian ADRs, Dr Reddy’s ADR closed around 4.25% higher, while Axis Bank ADR also ended on the positive side.
However, Infosys ADR, HDFC Bank ADR and ICICI Bank ADR closed in the red zone, which may keep these stocks under watch in early trade.
Overall, Thursday’s session is expected to remain stock-specific, with results from major companies, expiry positioning, institutional flows, WPI inflation and global cues likely to guide market direction.
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