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Market Opening - An Overview
Nifty futures on Singapore Exchange traded 0.12% lower at 15,722, signaling that Dalal Street was headed for a negative start on Tuesday.
Asian stocks slipped early Tuesday on growing concerns over the spreading Delta variant of the coronavirus and after Wall Street shares fell as much as 2% on Monday.
Nifty came under heavy pressure on Monday, dragged by financial heavyweight such as HDFC Bank and HDFC. On Monday, the Nifty opened gap down at 15,754.50 and closed 1.07% lower at 15752.40. The technical chart on a daily frame showed Nifty forming a doji pattern. India VIX moved up by 8.33% to 12.68 levels.
Upcoming Earnings
Asian Paints, Bajaj Finance, CRISIL, ICICI Prudential, ICICI Securities, Shyam Metalics and TV18 Broadcast results are expected to report quarterly results today.
FII/DII activity on 19-07-2021 (Monday)
Category | Buy Value | Sell Value | Net Value |
FII/FPI | 6366.78 | 8565.49 | -2198.71 |
DII | 5913.3 | 4865.64 | 1047.66 |
* All numbers are in INR crore
Stocks To Watch
After markets closed on Monday, IT major HCL Tech reported a rise in its consolidated revenue from operation for the Apr-Jun quarter at Rs. 20,068, up 2.2% from the previous quarter ended in March. Its net profit rose to Rs. 3213 crore in the quarter, from Rs. 2935 crore in the year-ago period. The company has planned to pay an interim dividend of Rs. 6 per equity share for FY22.
Cement maker ACC reported an increase in its net profit to Rs. 569.45 crore for the quarter ended June, from Rs. 271 crore in the year-ago period. Net sales stood at Rs. 3810 crore in Apr-Jun quarter, an increase of 51.1% from the same quarter in 2020.
Public sector lender Indian Bank posted a jump in its net income to Rs. 1182 crore in Q1 of FY22, from Rs. 369 crore in the corresponding quarter of FY21. The Bank’s Net Interest Income (NII) grew by 3% to Rs. 3994 crore in Q1 of FY22, from Rs. 3874 crore in Q1 of FY21. Net Interest Margin (Domestic) improved by 51 basis points on quarter-on-quarter sequential basis. It stood at 2.85% for Q1 of FY22 as against 2.83% for Q1 of FY21. The bank’s asset quality improved slightly as its gross NPA fell to 9.69 in the quarter, from 10.91% in the year-ago period. The lenders net NPA ratio declined to 3.47% in the quarter, from 3.76% in the corresponding quarter of FY21. It stood at 3.37% at the end of FY21.