BSE Sensex and NSE Nifty 50 were likely to start in red on Monday, as suggested by trends on SGX Nifty.
Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 were likely to start in red on Monday, as suggested by trends on SGX Nifty. SGX Nifty 50 Index Futures for July were ruling 60 points or 0.4 per cent down at 16,665 on Singaporean Exchange. In the previous session, the BSE Sensex was up 390.28 points or 0.70% at 56,072.23, and the NSE Nifty 50 was up 114.20 points or 0.69% at 16,719.50. Analysts say that markets have recovered over 10% from the bottom in the last five weeks and now we are inching closer to the major hurdle of previous swing high i.e. 16,800 in Nifty. “A decisive break above that mark would keep the momentum going and help the index to test 17,400. In case of any consolidation, 16,250-16,500 zone would act as a support,” Ajit Mishra, VP – Research, Religare Broking, said.
Key things in focus before market opens on 25 July 2022
Global markets: Asian stock markets were trading weak in early trade on Monday. The World Health Organization declared monkeypox a global health emergency, over the weekend. All eyes would be on the Fed rate decision this week. Japan’s Nikkei 225 slipped 0.84 per cent and the Topix index lost 0.72 per cent. US stocks ended lower on Friday. The Dow Jones Industrial Average fell 137.61 points, or 0.43%, the S&P 500 lost 37.32 points, or 0.93%, and the Nasdaq Composite dropped 225.50 points, or 1.87%.
Q1 results: BSE-listed companies such as Axis Bank, Tata Steel, Tech Mahindra, Canara Bank, Macrotech Developers, KPIT Technologies, Aether Industries, Anupam Rasayan India, Aurionpro Solutions, Central Bank of India, Century Textiles & Industries, Chennai Petroleum Corporation, Craftsman Automation, Glaxosmithkline Pharmaceuticals, Indian Energy Exchange, IIFL Wealth Management, Jindal Stainless, Jyothy Labs, Lakshmi Machine Works, Orient Electric, RattanIndia Power, Sharda Cropchem, Sterlite Technologies, Tanla Platforms, Tatva Chintan Pharma Chem, and Tejas Networks will release their Apr-Jun quarter earnings.
FII and DII data: On Friday, foreign institutional investors (FIIs) sold shares worth Rs 675.45 crore while domestic institutional investors (DIIs) lapped up shares worth Rs 739.38 crore on a net basis in Indian equity market.
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