BENGALURU, July 31 (Reuters) – Indian shares are set to open little modified on Monday as traders consolidated their positions amid a slew of June quarter outcomes and an absence of different fast financial triggers.

India’s GIFT Nifty on the NSE International Exchange was down 0.03% at 19,782.5 as of 8:08 a.m. IST.

Asian markets edged increased on Monday after U.S. data signaled easing of core inflation on Friday, bolstering hopes that the U.S. Federal Reserve could also be on the finish of the financial coverage tightening cycle. Wall Street equities had closed increased on Friday.

The Nifty 50 lost 0.5% final week whereas Sensex shed 0.79%. Both the blue chips had risen almost 6% between June 25 and July 21, scaling contemporary all-time highs.

Despite the slide, the benchmarks are nonetheless lower than 2% shy of the report highs scaled on July 20. Analysts count on the consolidation to proceed and see promoting strain rising because of elevated valuations.

Foreign institutional traders bought 10.24 billion rupees ($124.54 million) of Indian equities on a web foundation on Friday, whereas home traders bought 16.34 billion rupees of shares, as per provisional NSE data.

STOCKS TO WATCH:

** Marico (MRCO.NS): Co posts Q1 revenue beat as decrease prices offset sluggish demand.

** Power Grid Corporation of India (PGRD.NS): Co declared as profitable bidder for 2 initiatives; to studies June quarter earnings on Monday.

** Gland Pharma (GLAD.NS): U.S. drug regulator concludes inspection at Co’s Visakhapatnam facility with zero 483 observations.

** United Breweries (UBBW.NS): Co posts 16% slide in June quarter revenue.

** Key earnings on Monday: Maruti Suzuki India, UPL, Power Grid.

($1 = 82.2250 Indian rupees)

Reporting by Bharath Rajeswaran in Bengaluru; Editing by Nivedita Bhattacharjee

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