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MARKET LIVE: Indices in the green, Sensex rises 200 pts; IT stocks in focus
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MARKET LIVE | Markets | Bharti Airtel
SI Reporter |
Last Updated at July 30, 2020 12:22 IST
EVENT HIGHLIGHTS
Indian equity markets were trading half a per cent higher on Thursday ahead of the monthly Futures and Options (F&O) contracts' expiry.
The S&P BSE Sensex added 250 points to hover around 38,320 levels and the Nifty50 index was trading around 11,280 levels. IT stocks -- HCL Tech, TCS, and Infosys -- rose over 1 per cent. Bharti Airtel gained 2 per cent after posting 15 per cent growth in Q1 revenue. while InterGlobe Aviation slipped 4 per cent before recouping losses after posting its biggest-ever quarterly loss. Reliance Industries was trading over 1 per cent higher ahead of its Q1 results announcement.
The Nifty sectoral indices were trading in the green, led by Nifty IT index, up 1 per cent.
The S&P BSE Sensex added 250 points to hover around 38,320 levels and the Nifty50 index was trading around 11,280 levels. IT stocks -- HCL Tech, TCS, and Infosys -- rose over 1 per cent. Bharti Airtel gained 2 per cent after posting 15 per cent growth in Q1 revenue. while InterGlobe Aviation slipped 4 per cent before recouping losses after posting its biggest-ever quarterly loss. Reliance Industries was trading over 1 per cent higher ahead of its Q1 results announcement.
The Nifty sectoral indices were trading in the green, led by Nifty IT index, up 1 per cent.
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
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