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"As of now, we expect earnings to be favourable for the auto sector, services (hospitality) and banks (as provisioning cost is lower). The metals sector which was a significant contributor to earnings last year may witness a bit of a pullback due to changing regulations in exports," Ramanathan said.

In the next few quarters, we still have to deal with the aftermath of the pandemic, the ongoing war and sanctions and the challenges there and if anything, we are in a slowing growth path in the case of Europe, a threat of recession kind of environment with still very high inflation. It may be not accelerating but is still at elevated levels. ”

The three state-owned oil marketing companies -- IOC, BPCL and HPCL -- control 90 per cent of the retail petrol and diesel sales in the country. They also own refineries that turn crude oil into fuel such as petrol and diesel. While margins on turning crude into fuel have been high, the marketing wing accrued losses from unchanged petrol and diesel rates.

Singhania added at least two new stocks, whereas he upped his stake in one of the existing counters. However, he stayed put in one stock and slashed his holdings in another one.Among the latest additions, Singhania has made entries in J Kumar Infraprojects and Paras Defence and Space Technologies during the April-June 2022 period.

Copper, used in power and construction and often seen as a gauge for the global economic health, hit its lowest level since November 2020 last week.The most-traded August copper contract on the Shanghai Futures Exchange ended daytime trading 2% lower at 58,480 yuan ($8,711.84) a tonne.

India’s June inflation data is expected to remain in line with May’s inflation rate of 7.04 per cent. Meanwhile, the US inflation data due on Wednesday is expected to show a further increase from its current peak level of 8.6 per cent during May, said Vinod Nair, Head of Research at Geojit Financial Services.

The Nifty Bank index closed 0.98 per cent up at 35469.65.

So far in 2022, Tech Mahindra has plunged 42.68 per cent while Wipro has plummeted 41.38 per cent and HCL Technologies has dropped 25.38 per cent. In the case of TCS and Infosys, the IT bellwethers, the decline has been 12.63 per cent and 19.87 per cent, respectively.

SCI has submitted a new demerger plan to the Ministry of Corporate Affairs (MCA) and has excluded some of its assets from the proposed demerged entity, ET Now reported. It said that the meeting would discuss the progress of the SCI demerger and bids plan in the current fiscal.

“I would not be too worried about the end price of the spectrum because in most bands, spectrum is available in fairly abundant quantities. It should be more than enough to accommodate three players. The worry is less on the bidding front but is more on the lines of what happens in future once the Adani entity gets spectrum and over a period of time starts looking at the consumer 5G market seriously.”