Top 15 things to know before the market opens on August 1, 2022
Indian equity benchmarks extended their gains for the third day after buying in majors Tata Steel, Sun Pharma and Bajaj Finserv ended Friday with gains of over one per cent.
According to Nagraj Shetty, Technical Research Analyst, HDFC Securities, Nifty 50 has formed a long bull candle on the daily chart with a gap-up opening, after clearing the crucial resistance at 16,800. He believes that the underlying trend in the 50-point index is bullishly positive.
Read also | Why has Battlegrounds Mobile India been removed from Google, Apple App Stores?
At the close of trading on Friday, the Sensex was up 712.46 points 1.25% at 57,570.25 while the Nifty was up 228.65 points 1.35 per cent at 17,158.25. The Sensex moved into the high and low bands of 57,619.27 and 57,104.81. In the index, 25 stocks were leading against 5 declining stocks. Nifty traded in the range of 17,172.80 and 17,018.15. 43 stocks were up against 7 stocks falling in the index.
Read also| How post-pandemic markets have historically behaved
The broader indices ended in the green with the BSE mid-cap index rising 1.01%, while the small-cap index was up 1.38%. On the sectoral front, Metals rose 4.59%, Energy 2.41%, Basic Materials 2.30%, Oil & Gas 2.21% and IT 1.71%, while there was no sectoral index on the BSE. ,
Read also| How Paul Volcker Overcame Inflation With Two Recessions in the 1980s
India VIX Index
The Nifty or India VIX, a gauge of market’s expectation of near-term volatility, fell 2.72% to 16.55 on Friday.
Trends on SGX Nifty indicate a positive start for the index in India with a gain of 48 points. Nifty Futures was trading at 17,280.00 hrs IST at around 06:40 hrs IST on Singapore Exchange.
Read also| The 2008 Market Crash: Inside the Doomsday Machine and a Brief History
support and resistance levels
The key support level for Nifty is placed at 17,060, followed by 16,962. If the index moves up, the key resistance levels to watch for as per the pivot chart are 17,215 and 17,271.
The S&P 500 rose 57.86 points, or 1.4%, to 4,130.29.
The Dow Jones Industrial Average rose 315.50 points, or 1%, to 32,845.13.
The Nasdaq closed 228.09 points, or 1.9%, up at 12,390.69.
The Russell 2000 Index of Small Companies rose 12.20, or 0.7%, to 1,885.23.
Read also| The Great Depression for COVID: Top 5 Market Crashes in US History
Asian markets mostly closed lower on Friday. The Shanghai Composite fell 0.89%, the Nikkei 225 fell 0.05%, the Hang Seng fell 2.26% while the Kospi Composite fell 0.67%.
European markets closed mostly higher on Friday. France’s CAC 40 was up 1.72%, Germany’s DAX 1.52% and London’s FTSE 100 was up 1.06%.
Read also| How to survive a market crash
major news headlines
Carlyle, Advent to invest $1.1 billion in Yes Bank for 10% stake each
The bank announced the raising of equity capital of $1.1 billion (Rs 8,898.47 crore) through affiliated funds from global private equity investors Carlyle and Advent International. Each investor will potentially acquire up to 10% stake, Yes Bank said in a BSE filing. The Board of Directors has approved the allotment of 369.61 crore equity shares through preferential allotment on private placement basis at Rs 13.78 per share and 256.75 crore warrant equity shares, exchangeable at Rs 14.82 per share, subject to for the approval of the shareholders and RBI. The Carlyle Group and Verventa Holdings (affiliated with Advent) will each infuse money into the bank against 184.8 equity shares and 128.37 crore warrants.
Read also| Why the global economy is not in recession yet
Zee-Sony merger gets BSE, NSE nod after signing of agreement last December
The company has obtained NOCs from BSE and National Stock Exchange of India for the proposed composite scheme between Zee Entertainment, Bangla Entertainment and Culver Max Entertainment (formerly Sony Pictures Networks India). These observation letters allow the company to file a comprehensive plan of arrangement with the National Company Law Tribunal, Mumbai. Last December, the companies signed definitive agreements to merge Zee with Sony and combine their linear TV network, digital assets, production operations and program libraries.
Read also| US inflation rate at 40-year high | A Timeline: 1930-2022
Bank of Baroda Q1 result: Net profit up 79% at Rs 2,168 cr, NII up 12%
The public sector bank reported a 79.4% year-on-year growth in standalone profit to Rs 2,168 crore for the quarter ended June 2022, despite a fall in other income and pre-provision operating profit. A significant fall in bad loan provisions supported the lower levels. Net interest income (NII) for the April-June quarter grew 12% year-on-year to Rs 8,838.4 crore, with credit growth of 18% and global deposits up 10.9% year-on-year.
Read also | HDFC Q1 results: Net profit up 22% to Rs 3,669 crore
Cipla Q1 result: Net profit down 4% at Rs 686 cr, revenue down 2%
The pharma major reported a 4% year-on-year decline in consolidated net profit at Rs 686 crore for the quarter ended June 2022 as EBITDA fell 15% year-on-year to Rs 1,143 crore. Revenue declined 2.3% to Rs 5,375 crore in the reported quarter. India’s business declined 8.4% to Rs 2,483 crore and North America business grew 15.5% to Rs 1,199 crore in the April-June quarter of FY2023.
Read also | Asian economies need to raise rates faster to fight inflation: IMF
bulk deal data
Infront Enterprises Private Limited has 2,91,000 shares in Autoline Industries Limited at a price of Rs 75.93 per share on NSE.
Aditya Achanta sold 1,67,252 shares in Coastal Corporation Limited at Rs 287.71 per share on NSE.
Neeraj Rajinikanth Shah bought 75,000 shares of Hilton Metal Forgings Limited on NSE at Rs 47.10 per share.
Dhoot Ramniwas Ramdayal sold 56,305 shares of IMP Powers Limited at Rs 9.50 per share on NSE.
Aditya Kumar Halvasia bought 2,51,400 shares in Specialty Rest Limited at Rs 177.27 per share on NSE.
Read also | Apple privacy measures cause meta crisis as TikTok moves forward
DII and FII data
According to provisional data available on NSE, foreign institutional investors (FIIs) have bought net shares worth Rs 1,046.32 crore, while domestic institutional investors (DIIs) have sold shares worth Rs 0.91 crore as on July 29.
NSE F&O Banu
Nil stocks/securities have been placed under F&O restrictions as on August 01. Securities in the embargo period under the F&O clause include companies whose security’s market-wide position has exceeded 95% of the limit.