News Shots

  • US Markets moved up as JP Morgan’s result beats street estimates. 
  • Google is in advanced talks to invest $4 billion in Jio Platforms.
  • Reliance Industries will hold its annual general meeting today. Investors await clarity on deal with Saudi Aramco, clarification on media reports on stake buy in Future Group, and path ahead for retail business and Jio.
  • Bharti Airtel has partnered with Verizon to launch BlueJeans video-conferencing service in India. BlueJeans will go up against other video conferencing platforms like Zoom, Google Meet, JioMeet etc
  • Wipro consolidated net profit flat, beats street estimates. Net profit for the June quarter was flat at ₹2,390 crore as against ₹2,388 crore in the year-ago period.
  • Yes Bank FPO to open today and will remain open till July 17 (Will try to do a video tomorrow)
  • Lupin has shut one of its manufacturing plants in Gujarat after at least 17 employees at the site tested positive for COVID-19
  • Infosys to announce Q1 result today. 5-6% dip in profit is expected.

What to expect today?

  • Yesterday, the market fell heavily and NIFTY closed just above 10,600. Such a huge movement was seen in the market after many trading sessions. The bad-news-ridden HDFC Bank led banking sector fell the most. All the major banks are significantly down. Bank Nifty fell nearly 650 points.
  • Global markets mostly closed positively, after volatile sessions. SGX NIFTY is currently trading higher at 10,682, indicating a gap up opening in the Indian Market. 
  • NIFTY is likely to trade between 10,560 and 10,750 today. There is support at 10,560 and 10,500, and resistance at 10,630, 10,700 and 10,750
  • Highest Call Open Interest at 11,000, followed by 10,800. Highest Put Open Interest at 10,500, followed by 10,200. 
  • Foreign institutional investors (FIIs) and domestic institutional investors (DIIs) sold shares worth Rs 1,565.62 crore and Rs 649.7 crore, respectively.
  • Reliance AGM to end by 2 pm, and need to be watched. Infosys results will be announced after market hours. The banking sector also demands constant attention.