Markets to track Monsoon Session, GST bill today; RIL in focus

The domestic equity markets are likely to open in the green on Monday morning after closing last week, over 100 points down. Steady cues from Asian markets and buying at lower levels is likely boost sentiment in the market today. 

However, in the day, investors will be keenly eyeing the Parliamentary monsoon session that is slated to kick off on Monday. Alongwith the much-awaited developments on the Goods and Services Bill, there are several other bills pending in the Upper and the Lower House that will pave the way for the markets in the day. 

"This week, all eyes will be on the GST Bill in Parliament, next batch of Q1 earnings and progress of the monsoon. The start of the monsoon session of Parliament from Monday will add to anxiety as hopes are high over the passage of the Goods and Services Tax (GST) Bill in coming weeks," said Vijay Singhania, Founder-Director, Trade Smart Online, said in a PTI report.

Reliance Industries will be in focus in early trade after the oil and gas major reported a bigger-than-expected 18% jump in June quarter net profit after market hours on Friday. In the April-June quarter, RIL reported a net profit of Rs 7,113 crore or Rs 24.1 per share, higher than the Rs 6,024 crore net profit posted in the same period last year. 

This week, Wipro, HDFC Bank, Hindustan Unilever, UltraTech Cement, Axis Bank, Cairn India are expected to announce their first quarter results. 

Markets will also track the progress of the rains in the country.