Indian markets are expected to trade in a small range today and we could also see small decline during the opening session. Markets have been trading strong over the last few sessions with major indices hovering around their yearly highs. Many market analysts believe that there isn’t much steam left in the market rally till the time we get any major trigger.

Many companies will be announcing their first quarter results today. Bata, BEML, Amara Raja Batteries, Abbott India, Balrampur Chini, Finolex Industries, Kajaria Ceramics, JSW Holding, Ramco Cement, REC, SCI, Monte Carlo and Mangalam Cement will be announcing their quarterly results today. The first quarter results are important as there was lockdown in majority of the cities across India during March – June 2020.

Nischal Maheshwari from Centrum Broking has suggested two stocks for the day. According to him, most FMCG stocks have been doing well, and on any correction, these stocks should be bought. Maheshwari has suggested BUY call for oil marketing companies HPCL and BPCL. Maheshwari said, "It was interesting to see the gross refining margins (GRMs) doing pretty well for them. We are going to revise our earnings for the stock. We continue to believe that this is a good place to be in. We prefer BPCL over HPCL."