Nifty futures have been trading 21 points or .13 per cent up at 15,884.50 on Singaporean Exchange, indicating a gap-up get started for BSE Sensex and Nifty 50 on weekly F&O expiry day. In the preceding session, the Nifty 50 index logged gains, though the Bank Nifty remained on the back foot and lost 200 points from the highs. Analysts say on the day of the weekly expiry of index possibilities and the quarterly benefits of the index giant Infosys, markets would see the levels of 15950/53200 in the close to term in case the Nifty/Sensex survive above the levels of 15800/52700. “On the other hand, below the levels of 15800/52700, benchmark indices would find support at 15760/52550 and at 15740/52450 levels. A close below the level of 15760/ 52550 would be negative for the market,” mentioned Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities.
Stocks to watch
Wipro, LTI: BSE-listed providers such as Larsen & Toubro Infotech, Wipro, Tata Elxsi, Cyient, Angel Broking, Tata Steel, Long Products, Aditya Birla Money, Cyient, Rama Paper Mills and Rollatainers will announce quarterly earnings on 15 July 2021.
Infosys: Infosys’ April-June quarter earnings was a mixed bag with the business missing street estimates on the net profit front but raising its complete-year income guidance. The business posted almost 23 per cent rise in net profit for the June quarter at Rs 5,195 crore and raised its income development outlook for the complete fiscal to 14-16 per cent.
ITC: ITC’s hygiene brand Savlon has come to be an more than Rs 1,000 crore brand in terms of customer spends, backed by heightened demands for hygiene merchandise amid the ongoing Covid pandemic.
Titan Company: Big bull Rakesh Jhunjhunwala lowered stake in the Titan Company to 3.72 per cent in the June quarter from 3.97 % earlier.
L&T Technology Services: The IT firm business reported profit at Rs 216.2 crore in Q1FY22 against Rs 194.5 crore in Q4FY21. The income of the business rose to Rs 1,518.4 crore from Rs 1,440.5 crore in the March 2021 quarter.
Marico: Marico has entered into Share Subscription Agreement and Shareholders agreement with Apcos Naturals Private Limited, and a Share Purchase Agreement with its current
promoters and shareholders, to make a strategic investment in Apcos Naturals by acquiring/subscribing 60 % of the total paid-up share capital in the type of equity shares and Compulsorily Convertible Preference Shares (CCPS) of Apcos Naturals.