Pre Market Analysis 26-07-2021

Market Opening - An Overview

SGX Nifty futures were trading 0.64% lower at 15752, signalling Dalal Street was headed for a negative start on Monday. 

Nifty formed a Doji pattern with a longer lower wick on the daily timeframe of technical chart on Friday indicating indecisiveness. Nifty has been in rangebound since the week ended on June 7.

Asian markets were mixed, with Chinese stocks falling on early trade, while Japanese indices opened higher tracking Wall Street indices, which closed up on Friday.

The Indian Rupee gained 6 paise against the US Dollar on Friday.


Upcoming Earnings

Tata Motors, Axis Bank, DLF, GlaxoSmithkline, Larsen & Toubro, Kotak Mahindra Bank and SBI Life Insurance

Stocks in News Today

Reliance Industries: The conglomerate’s consolidated net profit declined 7.3% to Rs 12,273 crore for the quarter ended June of FY22, from Rs 13,233 crore in the year-ago period. The company’s operating revenue rose 58.2% to Rs 1.44 lakh crore in the quarter, from Rs 91,238 crore in the year-ago period. Its oil and chemicals business clocked maximum revenue at Rs 1.03 lakh crore. 

ITC: The FMCG major posted strong results, with its first-quarter standalone net profit climbing 28.6% to Rs 3031.49 crore, from Rs 2342.76 crore in the year-ago period. Sales rose to Rs 12884.45 crore in the quarter, from Rs 9435.71 crore in same period last year. Cigarettes dominated the revenue segment with sales at Rs 5122.19 crore, followed by Agri business and other FMCG products. Its hotels business continued to be in red. 

ICICI Bank: The private sector banks net profit surged 78% to Rs 4616 crore in the Apr-Jun quarter, from Rs 2599 crore in the corresponding year of FY21. The robust result was due to rise in interest margin, fee income and lower provisioning for NPAs. The bank’s net interest income (NII) rose 18% to Rs 10,936 crore in the quarter, from Rs 9,280 crore in the year-ago period. Gross NPA stood at 5.15% at the end of the quarter. 

Yes Bank: The lenders net profit rose to Rs 206.84 crore in the Apr-Jun quarter of FY22, from Rs 45.44 crore in the year-ago period. Net interest income fell 26.5% to Rs 1402 crore, while non-interest income rose to Rs 1056 crore, up 70.2% year-on-year. Gross NPA stood at 15.6% in Q1 of FY22.