The stock markets are likely to open flat, post the 1 per cent rally witnessed in the previous session, going by global market cues. Trends on SGX Nifty indicate a muted start for the index in India. At 7:30 am, the Nifty futures were trading virtually unchanged at 14,485 on the Singapore Stock Exchange. The markets are, however, likely to remain volatilile due to the ongoing earnings season and upward trajectory in Covid-19 cases across the country.
On Monday, the S&P BSE Sensex rallied by more than 500 points to close at 48,386 and the Nifty was up 143 points to 14,485.
Tech Mahindra reported 17.4 per cent slide in consolidated profit at Rs 1,081.4 crore for the quarter ended March 2021. The profit in the previous quarter stood at Rs 1,309.8 crore.
HDFC Life Insurance Company
HDFC Life Insurance Company reported a consolidated profit of Rs 319.06 crore in the quarter ended March. Net premium income jumped to Rs 12,869.55 crore from Rs 10,475.95 crore in the year-ago.
SBI Cards and Payment Services
SBI Cards and Payment Services reported a profit of Rs 175 crore in the March quarter as against Rs 84 crore in the year-ago quarter. Revenues declined to Rs 2,308.68 crore from Rs 2,433.24 crore in the year-ago period.