Several announcements made by the governnents, corporate results, and global cues will be the top triggers for investors today.
Aviation stocks will be in focus today after the government announced that domestic airline operations would resume on May 25, more than two months after all flights were halted. Moreover, the government clarified that it would use RBI money to support struggling NBFCs for only three months, as against industry expectations of 2-3 years
The Union Cabinet also approved additional funding of up to Rs 3 trillion at a concessional rate of 9.25 per cent for the MSME sector hit hard by the coronavirus crisis. Besides, the new auction methodology for commercial mining and sale of coal by private companies was also approved by the Cabinet yesterday.
A total of 13 companies including Bajaj Finserv, Colgate Palmolive, and Hindustan Zinc are scheduled to announce their March quarter results later in the day.
The three major averages on Wall St. notched their fourth gain in five sessions on Wednesday. The Dow Jones rose 1.5 per cent, the S&P 500 gained 1.7 per cent, and the Nasdaq Composite added 2 per cent.
Asian shares were mixed. Japan's Nikkei rose 0.2 per cent while Australia's ASX200 was flat in early deals. SGX Nifty edged lower, indicating a slightly lower negative start for the Indian indices today.