Share Market Today: Nifty 50, Sensex likely to make a negative start to week; GIFT Nifty futures down nearly 50 pts

Share Market Today: Domestic equity benchmarks Nifty 50 and Sensex are set to open in negative territory in Monday, August 12. GIFT Nifty futures - an early indicator of the headline Nifty 50 index - were down 47 points, or 0.2 per cent, at 24,354.5 at the last count early on Monday, suggesting a lower opening ahead on Dalal Street,

Analysts await the last leg of the quarterly earnings season, with more than 500 companies slated to report their financial results on Monday including Hindustan Copper, Balrampur Chinni Mills, Vodafone Idea, Nalco, NMDC, Voltas, IRFC and Voltas. 

On Friday, both main indices finished a strong session with gains of 1.0 per cent each amid broad-based buying led by energy, IT, financial and auto shares. The Sensex added 819.7 points to end at 79,705.9 while the Nifty50 settled at 24,367.5, up 250.5 points from its previous close.

Meanwhile, the rupee ended mildly stronger at a provisional 83.95 against the US dollar that day after gyrating in a range of 83.88-83.96 in intraday trade.

Most other major Asian markets were in the green on Monday following a positive handover from Wall Street last week, with MSCI's broadest index of Asia Pacific shares outside Japan last trading 2.7 points - or 0.5 per cent - higher at 555.8.   

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