Well, we're actually looking at quite a positive set of overnight cues, both from the US as well as the European markets. Asian markets too are in the green and the GIFT Nifty is also trading in the green, indicating a positive start for our own markets today morning.

Overnight, most US markets ended in the green. Dow Jones ended over 0.6 percnet higher and US indices managed to snap a three-day losing streak.

European indices too ended with marginal gains, while crude oil prices slipped over a percent in Monday’s trading session to the $77.69 a barrel mark.

Meanwhile, the Indian markets on Monday witnessed a strong opening. They saw some further buying. However, there was a significant selling pressure in the second half and the markets managed to only end near the flatline and didn’t see significant gains. Advanced decline ratio, as far as the broader markets were concerned, were something that were skewed towards the decline or towards the laggard. This ensured that the broader markets underperformed the benchmark index.

Reliance Industries was one of the top Nifty gainers. It aided the market’s up move, given its high weightage in the Nifty index. Reliance’s outperformance actually marked the underperformance of quite a few stocks within the Nifty from other stocks as well.

Yesterday, the metal pack too witnessed a lot of buying interest. It will be interesting to see if that interest can sustain today.

The record date for the mega impending merger of HDFC Limited and HDFC Bank has been to set to July 13. HDFC Limited, which is a part of many key indices such as the Nifty, Sensex as well as passive indices such as the MSCI, etc, will be deleted from these indices. According to the merger ratio, HDFC Limited shares would now be transferred to HDFC Bank shares. So you will see changes coming in tomorrow in Nifty, Sensex, etc.

Two names to watch out for – LTIMindtree which come in place of HDFC Limited in the Nifty and JSW Steel will be replacing it in Sensex.

Tune in to Marketbuzz Podcast for more cues and news to track ahead of today’s session