Share Market Highlights: Sensex\, Nifty likely to open higher; SGX Nifty up 110 points

Share Market Highlights: Sensex, Nifty likely to open higher; SGX Nifty up 110 points

Stock Market LIVE Updates on July 21: Axis Bank, Hindustan Unilever, Bajaj Finance and Bajaj Finserv are among the top companies that will be reporting their April-June quarterly earnings

Here's a look at the updates of the market action on BSE and NSE today

Sensex, Nifty Updates: Sensex and Nifty are likely to open on a bullish note on Tuesday, amid bouyed global equities. SGX Nifty was rising 100 points higher at 10,690, indicating positive trend in domestic grounds today. Yesterday, Sensex rose 398 points to 37,418 and Nifty ended 120 points higher to 11,022. Global equities were buoyed today amid hopes of economic stimulus from global central banks that boosted investor sentiment. Meanwhile, Axis Bank, Hindustan Unilever, Bajaj Finance and Bajaj Finserv are among the top companies that will be reporting their April-June quarterly earnings.

Here's a look at the updates of the market action on BSE and NSE today

8. 55 AM: Nifty outlook

"The short term trend of Nifty continues to be positive. One may ride the uptrend and continue long trading positions with the stop loss of 10900 levels. The next crucial resistance to be watched is around 11250 this week. Key support is placed around 10900-10850 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Share market expectations: 5 things to know before tomorrow's opening bell

8. 50 AM: Earnings

So far, the companies, especially the IT firms have posted better than expected results. The investors would be keenly awaiting earnings releases from firms such as Axis Bank, Bajaj Finance, Bajaj Finserv, HDFC Life Insurance, ICICI Prudential SBI Life, among others.

8. 45 AM: Market outlook

Ajit Mishra, VP - Research, Religare Broking said,"Markets are largely focusing on the earnings and the recent announcements from the index majors have positively surprised the market, which in turn fueling the recovery. Besides, the global markets are also not showing any signs of slowing down, helping the index to maintain the prevailing momentum. However, the rising COVID-19 cases and talks of community transmission could dent the pace ahead".

8. 40 AM: Rupee closing

On the currency front, Indian Rupee ended higher at 74.92 per dollar as against the last closing of 75.02 per dollar.

Rising rupee had a rub-off effect on investor sentiment, analysts said. The domestic currency is at near the strongest level recorded during the session.

8. 35 AM: Global cues

Global equities were buoyed today amid hopes of economic stimulus from global central banks that boosted investor sentiment. SGX Nifty was rising 100 points higher at 10,690, indicating positive trend in domestic grounds today.

8. 30 AM: Closing

Sensex and Nifty closed higher on Monday amid heavy buying in IT and banking stocks led by better-than-expected earnings in Q1. Extending last week's gains, Sensex rose 398 points to 37,418 and Nifty ended 120 points higher to 11,022.

Sensex ends 398 points higher, Nifty at 11,022; IT, banking stocks lead gains