Sensex, Nifty Updates: Sensex and Nifty opened on a bullish note on Friday, amid positive global equities. Sensex was rising 151 points higher to 36,622 and Nifty traded 27 points higher at 10,767. Concerns over surging domestic coronavirus cases that crossed the 1 million mark in domestic grounds kept gains under check. Yesterday, Sensex closed 419 points higher at 36,471 and Nifty gained 121 points to 10,739. Meanwhile, companies set to announce their earnings are Britannia, HCL Technologies, ICICI Lombard, Coffee Day Enterprises, Granules India
Here's a look at the updates of the market action on BSE and NSE today
12. 19 PM: HCL Tech rises post Q1 earnings
HCL Tech reported a better-than-expected profit for the first quarter and guided to a 1.5% to 2.5% quarter-over-quarter increase in revenue for the next three quarters.
HCL Tech share price gains over 2% post Q1 earnings
12. 03 PM: Britannia top gainer ahead of earnings
Share price of biscuit maker Britannia Industries gained as much as 2.16% ahead of its April-June quarter earnings scheduled later in the day.
11. 46 AM: Q1 Earnings
Corporate earnings for April-June quarter among blue-chip companies have been positive so far with IT majors like Infosys, Wipro and HCL Technologies beating street estimates and only Tata Consultancy Services missing performance expectations. HCL Technologies became the third IT major to report upbeat profit. Meanwhile, companies set to announce their earnings are Britannia, HCL Technologies, ICICI Lombard, Coffee Day Enterprises, Granules India.
11. 29 AM: Metal stocks top gainers today
Metal stocks led gains, with the Nifty metals index rising 2.5%. Steelmakers like Tata Steel and JSW Steel advanced about 3.5% each, trading as top hgainers on NSE today.
11. 13 AM: IT stocks lead losses
IT stocks were among top laggards sector wise, as the index slipped into the red after two days of straight gains. The Nifty IT index fell 1.2%, followed by fall of 1.8% each in Infosys and Tata Consultancy Services.
10. 50 AM: Agriculture sector update
Amit Modi, Director, ABA Corp & President (Elect), CREDAI said,"In the short term, given the Covid scare, there has been a shift in how the market behaves as people are leaving and social distancing; however, we are seeing a significant turnaround since the time lockdown has been lifted. In fact, even during the lockdown realtors have been able to sell properties across various segments. Mid segment might face a little slow movement because of job security but luxury will not face any such problem. Positivity in the market coupled with the increased need to have real estate asset will lead to more sales numbers in the months to come.
New trends and formats are also likely to enter the market that will be in line with the new normal that has kicked in post-COVID. Ongoing projects and new launches will see developers making changes in the interior to make the property more palatable for the new generation awakened to the reality of having a healthy life. People living in smaller apartments will lookout for more open space real estate assets such as larger format units, which obviously will depend on the pocket size of the buyers."
10. 30 AM: Oil prices today
International oil benchmark Brent crude futures fell 0.16 per cent to USD 43.30 per barrel.
10. 11 AM: Coronavirus Toll
Worldwide, the number of COVID-19 cases linked to the disease has crossed 1.37 crore. In India, the number of infections spiked over 10 lakh.
9. 50 AM: Top gainers and losers
Tata Steel, followed by ONGC, HCL Tech, Bajaj Finance, HUL, HDFC duo, Reliance Industries and ICICI Bank were among the top gainers. On the other hand, Infosys, TCS, M&M and Tech Mahindra were among the laggards.
9. 30 AM: Nifty outlook
"The market continues to remain cautious given flaring US-China trade relations, persistent rise in virus cases and implementation of fresh lockdowns. Though the initial success reports in Covid vaccines have brought in some cheer, the ongoing earnings season and management commentary is likely to
keep the markets volatile. We would advise traders to stay stock specific, while investors should be more defensive in their portfolio approach," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
9. 16 AM: Opening session
Sensex was rising 151 points higher to 36,622 and Nifty traded 27 points higher at 10,767
9. 11 AM: Stocks to watch today on July 17
Thomas Cook, Cyient, L&T Technology, Central Bank, Bajaj Consumer among others are the top stocks to watch out for in Friday's trading session.
Stocks in news: Thomas Cook, Cyient, L&T Technology, Central Bank, Bajaj Consumer
8. 55 AM : Market outlook
"Markets will continue to take cues from the global peers, in the absence of any major domestic trigger. While the mood in the global markets continues to remain buoyant, the rising number of cases in the US and India would remain a key cause of concern. Besides, the earnings announcements will further induce stock-specific volatility. Keeping all in mind, we reiterate our cautious stance on the markets and suggest preferring hedged trades," said Ajit Mishra, VP - Research, Religare Broking.
Share market expectations: 5 things to know before tomorrow's opening bell
8. 50 AM: Global cues
Global equities were buoyed today as positive macroeconomic data flow and hopes of a COVID-19 vaccine boosted investor sentiment. SGX Nifty was rising 60 points higher at 10,771, indicating positive trend in domestic grounds today.
8. 40 AM: Earnings today
Britannia, HCL Technologies, ICICI Lombard, Coffee Day Enterprises, Granules India are among the top companies that will be reporting their April-June quarterly earnings
8. 35 AM: Rupee Closing
On the currency front, Indian rupee ended marginally lower at 75.19, as against the last close of 75.15 per dollar.
8.30 AM: Closing
Sensex and Nifty ended higher on Thursday tracking rally in IT stocks amid Q1 earnings season. Barring weakness from Asian equities, Sensex closed 419 points higher at 36,471 and Nifty gained 121 points to 10,739.
Sensex rises 419 points, Nifty closes at 10,739; IT, banks lead rally