Nifty futures have been trading 17.50 points or .11 per cent up at 15,831.50 on Singaporean Exchange, suggesting a positive opening for BSE Sensex and Nifty 50 on Friday. In the preceding session, headline indices snapped their 3-day losing streak, ending more than 1 per cent larger. Asian peers have been seen trading mixed in early trade, whilst US stock indices on Wall Street eked out gains in overnight trade. Analysts say regardless of Thursday’s rally, the quick term texture of the market place is nonetheless on the downside. “Thursday’s sharp bounce back indicates the pullback rally is likely to continue if key indices succeed to trade above 20 day SMA or 15750/ 52600 level. We are of the view that 15750/ 52600 and 15700/52400 levels would act as crucial support levels for Nifty/ Sensex. Above the same, pullback rally is likely to continue up to 15880-15920/ 53200-53400 levels. On the other side, below 15700/ 52400, the uptrend texture would be vulnerable,” Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, mentioned.
Stocks to watch
Zomato: Zomato is all set to make its stock market place debut on Friday, 23 July, a lot ahead of its earlier scheduled listing on 27 July. he Rs 9,375-crore IPO was subscribed more than 38 occasions, garnering a robust response from investors. The public concern is the biggest to hit stock market place given that SBI Cards and Payment Services’ IPO last year in March, just ahead of the market place crash.
Reliance Industries Ltd: Mukesh Ambani-led RIL will release April-June quarter earnings later in the day. The index heavyweight will stay on investors radar on Friday. The business will highlight RIL’s performace across its telecom, retail, and Oil to chemical substances organizations, through the 1st quarter of FY22, when COVID-19 second wave struck India.
Ambuja Cements, JSW Steel: BSE-listed corporations such as Federal Bank, United Spirits, Ambuja Cements, Yes Bank, JSW Steel, Atul, Cigniti Technologies, Crompton Greaves Consumer Electricals, Dynamatic Technologies, Fineotex Chemical, Majesco, Nectar Lifesciences, Panacea Biotec, ABB Power Products and Systems India, SBI Cards and Payment Services, Seshasayee Paper & Boards, SKF India and Symphony, will announce 1st quarter final results of FY22 on Friday.
Bank of Maharashtra: Bank of Maharashtra on Thursday reported a 106 per cent on-year rise in net profit at Rs 208 crore in the June quarter. The bank’s net interest margin enhanced to 3.05 per cent from 2.43 per cent in the corresponding quarter last year.
Future group stocks: Amazon on Thursday accused Future Group of inducing it to invest Rs 1,431 crore in its corporations and but taking contrary positions and willfully flouting all the directions provided by the emergency arbitrator of the Singapore International Arbitration Centre.
Bharti Airtel: Bharti Airtel on Thursday made the 1st move in raising tariffs by announcing a cost hike for its postpaid subscribers. The hike is substantial, at 50 per cent, in the enterprise segment, which accounts for about 60 per cent of the company’s postpaid customers.
Hindustan Unilever Ltd: HUL’s efficiency in the June quarter was in line with the market’s estimates, with the net profit increasing 10 per cent on-year to Rs 2,061 crore. Despite the brutal second wave of Covid-19, the business was capable to clock a volume development of 9 per cent.
Wipro: Wipro launched FieldX, a cloud-based finish-to-finish digital service lifecycle automation option constructed on ServiceNow’s Now Platform.