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

Tracking the bullish sentiment in global peers, market bulls are likely to make a strong comeback on Dalal Street, early trends suggest. However, a sequential dip in industrial production in May and high June retail inflation could cap gains.

India's industrial output grew 29.3 per cent in May on a low base, although the figure dipped 8 per cent sequentially. At the same time, retail inflation at 6.26 per cent remained above RBI's band for the second month in a row while it eased from 6.3 per cent in May.

That apart, stock-specific activity is likely to remain high amid Q1 earnings season. At 7 am, Nifty futures on SGX traded 112 points higher at 15,800.

Globally, Wall Street's main indexes closed at their highest levels overnight, lifted by Tesla and bank stocks as investors eyed the start of the second-quarter earnings season and a batch of economic data. The Dow Jones Industrial Average rose 0.36 per cent while the S&P 500 gained 0.35 per cent and the Nasdaq Composite climbed 0.21 per cent.

In Asia, stocks opened firmer on the back of strong trend in the US markets. Japan's Topix index gained 0.6 per cent, Australia’s S&P/ASX 200 Index added 0.1 per cent and Kospi index was up 0.6 per cent.

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

Mindtree, Tata Metaliks, Deccan Health Care, Shree Ganesh Remedies and WS Industries are among eight companies that will release quarterly earnings today.

Telecom stocks will be in focus after latest TRAI data showed Reliance Jio lead the market in mobile subscriber additions as it gained 4.7 million users in April even as troubled Vodafone Idea lost 1.8 million customers during the same period. Bharti Airtel added just 0.51 million mobile subscribers in April.

Sunteck Realty's pre-sales grew 74 per cent YoY in Q1FY22 to Rs 176 crore and collections grew by 165 per cent YoY to Rs 172 crore.

The market regulator Sebi has no jurisdiction to direct a listed company to adhere to its articles of association, PNB Housing Finance told the Securities Appellate Tribunal on Monday. The company said appointing a registered valuer to determine the price for its proposed preferential allotment will be in violation of company law provisions.

Lastly, as the primary market remains abuzz ahead of the Zomato IPO, more companies will try to make the most of this bullish sentiment and hit the Street for fundraising. Digital payments startup Paytm could file its DRHP this week, suggest reports while MobiKwik has already filed DRHP for Rs 1,900 crore IPO with Sebi.

That apart, the wheels have been put into motion for the launch of the most awaited IPO of the year by Life Insurance Corporation of India (LIC). The Cabinet Committee for Economic Affairs (CCEA) has approved part divestment of the government stake in LIC via an IPO. The decision on issue size would soon be taken by a committee comprising Finance Minister Nirmala Sitharaman and Minister of Road, Transport and Highways Nitin Gadkari, among others.