Indian markets are likely to open higher on Tuesday as SGX Nifty the early indicator for the Nifty 50 index made the day’s high of 9,975 on the Singapore Stock Exchange. As all the market participants are anticipating the broader Nifty 50 to hit the five-digit magical figure today, here are the stocks which will be in focus today:
Blue-chip stocks which will be in focus ahead of their first quarter earnings are Asian Paints, Axis Bank, Bharti Airtel, Hero Moto, Vedanta. All these five stocks are also the constituent of Nifty 50. Other companies which are scheduled to present their earnings report card for the April-June quarter are Elantas Beck, FAG Bearings, Glaxo Pharma, Indiabulls Ventures, ICICI Pru, International Paper, KPR Mills, KSB Pumps, L&T Technology, Mahindra Life, Navin Flourine, Pidilite, Raymond, Tata Metaliks, Websol.
Major earnings on Monday: Shares of Indiabulls Housing Finance, Ambuja Cements, Zee Entertainment and Bharti Infratel will be in focus today as the earnings of these companies came out later in evening after the market closing
Indiabulls Housing Finance Ltd: The second largest mortgage lender Indiabulls Housing Finance yesterday reported a 25 per cent jump in the June quarter net at Rs 788.2 crore, helped by higher loan growth, reduction in the cost of funds and the cost-to-income ratio. Ambuja Cements: Ambuja Cements yesterday reported an 11.85 per cent growth in consolidated net profit at Rs 718.24 crore for the second quarter ended June 30, 2017, on account of higher sales.
Zee Entertainment Enterprises Ltd: Media firm Zee Entertainment Enterprises Ltd (ZEEL) yesterday reported a 15.84 per cent rise in its consolidated net profit at Rs 251.44 crore for the quarter ended June 30. Bharti Infratel: Mobile tower company Bharti Infratel yesterday reported 12 per cent decline in consolidated net profit to Rs 664 crore for the June quarter of the current fiscal.
Asian markets on Tuesday:
The dollar crept up from a 13-month low on Tuesday after stronger-than-expected readings on U.S. factory and services activity ahead of the start of a Federal Reserve meeting later in the day, but Asian stocks were subdued. Japan’s Nikkei rose 0.3 percent and Australian stocks jumped 0.35 percent, making up some of Monday’s 0.6 percent slide. South Korea’s KOSPI was little changed.
Markets on Monday:
NSE Nifty failed to breach the historic milestone of 10,000 points yesterday, even as a late afternoon spurt gave the traders a fresh hope, after making sequential record intra-day highs as the markets waited with baited breath for it to hit the mark. However, both Nifty and Sensex ended Monday’s trading at new closing highs, with Nifty making an intra-day high of 9,182.05 points, and Sensex hitting 32,320.86 during the day as index heavyweight Reliance Industries, ITC and TCS registered strong gains.
Oil and gas, IT and FMCG stocks also threw their weight behind the rally. There was cheer on the growth front as the International Monetary Fund (IMF), in its World Economic Outlook Update, retained India GDP forecast at 7.2% for the current fiscal, saying the country will pip China in growth sweepstakes in 2017 and 2018 as well.
Indian Rupee on Monday:
The rupee closed with a marginal loss of two paise at 64.34 against the US dollar on Monday despite a record-setting spree on domestic bourses. However, robust capital flows into domestic equities and subdued dollar overseas largely cushioned the rupee fall. Moreover, unwinding of long-dollar position by participants ahead of the Federal Reserve’s next monetary
policy also backed the rupee sentiment.
The home currency remained under immense dollar pressure and swung between 64.31 and 64.46 most part of the day, though managed to pull back some lost ground towards the fag-end trade to settle at 64.34, revealing a nominal loss of 2 paise, or 0.03 per cent.
US Markets on Monday:
The Nasdaq hit a record high on Monday ahead of a big week of technology earnings reports, while the S&P 500 and the Dow industrials lagged behind as losses in healthcare heavyweight Johnson & Johnson took a toll. The major U.S. indexes are trading around record-high levels with a huge batch of second-quarter corporate reports due this week.
The Dow Jones Industrial Average fell 66.9 points, or 0.31 percent, to 21,513.17 points, the S&P 500 lost 2.63 points, or 0.11 percent, to 2,469.91 points and the Nasdaq Composite added 23.05 points, or 0.36 percent, to 6,410.81 points. Johnson & Johnson shares ended down 1.7 percent, the biggest weight on the S&P 500 and the Dow. J&J faces discounted competition to its big-selling rheumatoid arthritis drug.
After the market closed, shares of Google parent Alphabet, one of the high-flying “FANG” stocks, traded down 2.2 percent following the company’s quarterly report and dragged on Nasdaq 100 futures. Alphabet, the owner of Google and YouTube, said it made $3.5 billion in net income on sales of $26 billion. The profit would have been much larger but for a record $2.7 billion European Union antitrust fine.