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Nifty Set to Open Flat to Lower; TCS to Announce Q1 Results Today – India

By Aditya Raghunath — Indian markets look set for a gap-down opening today on the back of muted sentiments. in Singapore are trading lower 0.43% as of this report, indicating a flat to lower opening for and the .

All eyes today will be on India’s largest IT services company Tata Consultancy Services Ltd. (NS:), which is scheduled to release its Q1 FY22 numbers and net sales are expected to grow by 5% to Rs 45,580 crore compared to Q4 FY21. Net profit is expected to clock in at Rs 9,370 crore, up around 1% sequentially.

Foreign institutional investors (FIIs) were net buyers for the first time in July yesterday, and net bought Indian equities worth Rs 532.94 crore.

Asia is trading down today with , and the trading down 0.55%, 0.67% and 0.45% at the time of this report.

The US Federal Reserve released the minutes of its meeting on Wednesday and there has been no change in the status quo. All US futures are trading down with down 0.27%, down 0.23% and down 0.17%

prices have fallen sharply in the last week, from over $75 on July 2 to $71 today. Investors are keeping an eye on the ongoing production dispute between Saudi Arabia and the United Arab Emirates (UAE) that affects global fuel supply.