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Indian shares are likely to open higher on Tuesday as investors react to a slew of earnings results announced after market hours Monday. <\/p>\n
Axis Bank’s Q1 profit jumped 94 percent on lower provisions and higher fee income, beating estimates, while growth in net interest income came in below expectations. <\/p>\n
Tata Motors’ consolidated net losses for the June quarter narrowed year-on-year as well as quarter-on- quarter, but lagged Street estimates.<\/p>\n
Larsen & Toubro’s net profit and operating income missed consensus estimates, while revenue matched expectations. <\/p>\n
Benchmark indexes Sensex and the Nifty fell modestly on Monday to snap a two-day winning streak while the rupee slipped by 2 paise to close at 74.42 against the greenback, snapping its three-day gaining streak.<\/p>\n
Asian markets<\/span> were mixed in cautious trade, with Chinese and Hong Kong shares stabilizing after steep losses the previous day on concerns over Beijing’s sweeping regulatory overhaul. <\/p>\n Treasuries were steady while the dollar dipped as investors looked ahead to this week’s Federal Reserve policy meeting, where officials are expected to discuss tapering plans. <\/p>\n Oil prices rose slightly in Asian trade amid bets that tight supply and rising vaccination rates will help offset any negative impact on demand due to surging COVID-19 cases worldwide.<\/p>\n Bitcoin pared gains to hold above $37,000 after briefly topping $40,000 on speculation that Amazon may soon start accepting payments in cryptocurrencies. <\/p>\n U.S. stocks hit fresh record closing highs overnight, as upbeat earnings news along with continued optimism about the economy<\/span> offset lingering concerns about the spread of new coronavirus variants.<\/p>\n The Dow and the S&P 500 edged up around 0.2 percent each, while the tech-heavy Nasdaq Composite index inched up marginally. <\/p>\n European stocks ended mostly lower on Monday after a government crackdown pushed China stocks to their worst day in a year and a survey showed German business<\/span> confidence weakened unexpectedly in July.<\/p>\n The pan European Stoxx 600 closed flat with a negative bias. The German DAX dropped 0.3 percent and the U.K.’s FTSE 100 finished marginally lower while France’s CAC 40 index edged up 0.2 percent. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n