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MARKET LIVE: Indices likely to open flat; all eyes on RIL, HDFC Q1 results
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Topics
MARKET LIVE | Markets | Bharti Airtel
SI Reporter |
Last Updated at July 30, 2020 08:02 IST
EVENT HIGHLIGHTS
Investors will today react to a string of global and domestic developments, coupled with result reactions and monthly Futures and Options (F&O) contracts' expiry.
While the market participants will await the results of HDFC and Reliance Industries today, they will also react to the ones announced post market hours yesterday. Bharti Airtel reported widening of losses to Rs 15,933 crore for the June quarter and IndiGo posted its largest ever quarterly loss of Rs 2,844.3 crore for Q1.
While the market participants will await the results of HDFC and Reliance Industries today, they will also react to the ones announced post market hours yesterday. Bharti Airtel reported widening of losses to Rs 15,933 crore for the June quarter and IndiGo posted its largest ever quarterly loss of Rs 2,844.3 crore for Q1.
Apart from that, market participants will also track Prime Minister Narendra Modi's meeting today with the chiefs of all financial sector regulators including RBI and Sebi.
The Centre's guidelines on 'Unlock 3.0', announced yesterday, might also affect investor sentiment.
The Centre's guidelines on 'Unlock 3.0', announced yesterday, might also affect investor sentiment.
Results today
Today, a total of 403 companies, including Reliance Industries, HDFC, and Dabur India, are slated to report their quarterly earnings.
Reliance Industries’ retail and energy verticals expect a dent in earnings in the June quarter, because of the pandemic. However, higher earnings in the telecom business may partly cushion the hit. READ PREVIEW HERE
Analysts expect HDFC to report tepid loan disbursal, elevated provisioning, and contraction in net interest margin for Q1FY21 as credit demand remained weak amid the ongoing Covid-19 pandemic. READ PREVIEW HERE
Global cues
Global cues
US stocks closed higher overnight after the Federal Reserve kept interest rates at ultra-low levels and repeated a pledge to use its “full range of tools” to support the economy. Although, the Fed cautioned, that the outlook “will depend significantly on the course of the virus.” The Dow Jones rose 0.6 per cent, the S&P 500 gained 1.2 per cent, and the Nasdaq added 1.35 per cent.
In Asia, Australian ASX 200 was up 0.6 per cent and Japan's Nikkei gained 0.2 per cent. Hong Kong's Hang Seng index rose 0.4 per cent.
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