Market Ahead Podcast, July 6: Top factors that could guide markets today

As buoyant crude oil prices fan inflation fears and threaten to weigh on India's import bill, benchmark indices look set for a weak start to the session. Elevated crude prices can also dent the domestic rupee and put the spotlight on oil marketing companies in today's trade. That said, individual stocks will also be on investor radar following specific news flows.

At 7.35 am, SGX Nifty was trading 43 points down at 15,820.

Brent rose 1.3% to above $77 a barrel on Monday after OPEC+ ended days of talks without a deal to bring back more halted output next month, depriving the market of vital barrels as the global economic recovery gathers pace. Analysts expect the market to tighten further, which could push Brent past $80 a barrel.

On the global market front, US markets were closed on Monday to mark the Independence Day holiday. Meanwhile, most Asian markets opened a fraction higher.

Japan's Nikkei was up 0.45% while the S&P ASX200 stood 0.21% higher. In South Korea, the Kospi 200 Index rose 0.5% in early trade.

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

The government will sell about 7.49 per cent stake in NMDC Ltd through an offer for sale (OFS) on Tuesday at a floor price of Rs 165 each. The OFS also includes a greenshoe option to sell an additional 3.49 per cent shareholding of the public sector undertaking.

Tata Motors said it plans to increase prices of its passenger vehicle range due to increase in input costs. The auto major did not share details on the time frame of the intended price hike but noted that would happen "shortly".

Maruti Suzuki India said its total production last month rose to 1,65,576 units as various states eased COVID related restrictions. The company had produced a total of 40,924 units in May this year.

Religare Enterprises Ltd (REL) on Monday said its shareholders have approved a proposal for raising Rs 570 crore via preferential issuance of shares to a clutch of investors, including existing shareholders.