Market Ahead Podcast, April 13: Top factors that could guide markets today

After a strong thrashing by the bears on Monday, Indian markets eyed a flat start to today's session amid a mixed set of global cues and concerns over rising coronavirus cases in the country. Besdies, investors would react to the TCS result along the with the IIP and inflation data. At 7.30 am, SGX Nifty was ruling 0.09 per cent higher at 14,371.

India for the third consecutive day posted fresh Covid cases upward of 1.5 lakh and surpassed Brazil in terms of total number of cases. 

Meanwhile, the IIP data for February contracted by 3.6 per cent, its sharpest contraction in 6 months. This could have a dampening impact on overall economic growth in the fourth quarter of 2020-21. At the same time, the March inflation rose to a four-month high of 5.52 per cent.

The markets will remain shut for trading on Wednesday for Dr Baba Saheb Ambedkar Jayanti.

On the global market front, Wall Street indices ended lower in overnight session as investors awaited cues from the upcoming corporate earnings season and a key inflation report later this week. The Dow Jones Industrial Average fell 0.16%, the S&P 500 lost 0.02% and the Nasdaq Composite dropped 0.36%.

Defying weak cues from US stocks, most Asian markets traded on a firm note. Japan’s Topix Index rose 0.5%,

Hang Seng Index was up 0.6% and Australia’s S&P/ASX 200 Index was 0.2% higher.

In the oil markets, prices edged higher on tensions in the Middle East after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites and on an expected drawdown in crude oil inventory in the United States. 

Brent crude oil futures was up 9 cents, or 0.1%, at $63.37 a barrel by 0055 GMT while U.S. crude oil futures gained 11 cents, or 0.2%, to $59.81 a barrel.

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

TCS’ net profit for the March quarter rose 14.9% YoY and 6.2% QoQ to Rs 9,246 crore. Meanwhile, the revenue for the quarter stood at Rs 43,705 crore, up 5.9 per cent YoY and 4.2 per cent QoQ. The biggest takeaway from the Q4 numbers was the order book at $9.2 billion, the highest ever reported by TCS in a quarter since the company started reporting this metric.

Sebi imposed a penalty of Rs 25 crore on Yes Bank in the matter of misselling the lender's AT-1 bonds few years ago. Besides, the watchdog has imposed a fine of Rs 1 crore on Vivek Kanwar, who was the Managing Director of Yes Bank, Rs 50 lakh each on Ashish Nasa and Jasjit Singh Banga, who were part of the bank's private wealth management team at the time of violation.

Bandhan Bank's advances rose 21% YoY and 8% QoQ to Rs 87,054 crore during Q4 while its total deposits grew 37% YoY and 10% QoQ to Rs 77,972 crore for the same period. 

Muthoot Finance board has approved payment of an interim dividend of Rs 20 per equity share. 

Hindustan Copper closed its QIP and approved the issue price of Rs 119.60 per equity share for the issue.