Share Market News Live: Sensex rises 100 points\, Nifty at 11\,145; SBI\, ICICI Bank\, Infosys top gainers

Share Market News Live: Sensex rises 100 points, Nifty at 11,145; SBI, ICICI Bank, Infosys top gainers

India Stock Market News Updates Today: State Bank of India, Tata Motors, Sun Pharmaceutical Industries, Indian Oil Corporation, UPL are among the top companies that will be reporting their April-June quarterly earnings.

Share Market LIVE News: Here's a look at the updates of the market action on BSE and NSE today

Sensex, Nifty LIVE Updates on July 31: Sensex and Nifty opened on a bullish note on Friday amid weak global equities. Sensex traded 95 points higher at 38,847b and Nifty gained 37 points to 11,139. Meanwhile, April-June quarterly earnings announcements by Reliance Industries, HDFC, Lakshmi Vilas Bank and Torrent Pharma will also set the tone for the stock market today. Yesterday, Sensex ended 335.06 points or 0.88 per cent lower at 37,736.07 and NSE Nifty tumbled 100.70 points or 0.90 per cent to end at 11,102.15.

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

9. 45 AM: Bharti Airtel Q1 update

Commenting on 1QFY21 results of Bharti Airtel, Keshav Lahoti, Associate Equity Analyst, Angel Broking said," Company reported  loss of Rs 15,933 crore including Rs 11,746 crore exceptional loss mainly due to AGR provision. Overall, Company reported better numbers than street expectations.

We are bullish on Bharti Airtel considering that it is almost immune to covid-19, industry dynamics are looking favorable and it is gaining revenue market share. Negative outcome for Vodafone-Idea in AGR matter can lead to increase in subscribers at rapid pace for the Company and increase in chances of next round of tariff hike by the industry.

9. 36 PM: HDFC 1QFY21 update

Commenting on 1QFY21 results of HDFC, Jaikishan Parmar, Sr. Equity Research Analyst, Angel Broking said, "For Q1FY21, HDFC Ltd reported a mixed set of numbers. NII grew by 10% YoY however, adjusting higher liquidity equity investment made in recent years NII grew 17% YoY. AUM grew at 12% YoY and 3% Sequentially, The individual book grew 11% and non-individual grew at 15% YoY. Other income increased owing to stake sale. PAT declined 5% YoY largely impacted due to higher provision cost.

The moratorium for individual loans reduced 600bps to 16.6% and non-individual declined to 460bps. HDFC Ltd has taken a total Rs954cr worth of COVID provision, which we believe is a bit lower. However, HDFC has an additional provision of 1.47% of AUM, this is well above the regulatory requirement. It has a very strong CET of 16.2%. Additional provision, strong CET, and healthy pre-provision profit provide comfort on balance sheet quality.

9. 19 AM: Nifty technical indicators

In the last expiry, NSE-NIFTY continued its prior rising trend and reported rise of 7.9%. Since 21st July, 2020 the index tried to hold higher levels with a narrow range consolidation (i.e. between 11,055 and 11,340 levels). As mentioned earlier, our bullish view will remain intact provided the index stays firm above its psychological support point-11,000 mark. In case of breakdown, the index will find next support around its 200-day SMA, which is now placed at around 10,860 level. On the higher side, the index will face hurdles around 11,400 and 11,500 levels.

As for the day, support is placed at around 11,025 and then at 10,947 levels, while resistance is observed at 11,240 and then at 11,377 levels.

9.10 AM: Market at open

Sensex and Nifty opened on a bullish note on Friday amid weak global equities. Sensex traded 95 points higher at 38,847b and Nifty gained 37 points to 11,139.

9.00 AM: Market outlook

"The short term trend of Nifty seems to have turned down and a move below 11,000 levels could confirm short term trend reversal in the market. A decisive move below 10,900 is expected to drag Nifty to further lows up to 10,700-10,650. On the way up, 11,300 is going to be a strong overhead resistance," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

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8. 50 AM: Global bourses

Bourses in Shanghai, Hong Kong and Tokyo were trading in the red, while Seoul closed on a positive note. Stock exchanges in Europe ended with losses yesterday.

8. 40 AM: Earnings Today

State Bank of India, Tata Motors, Sun Pharmaceutical Industries, Indian Oil Corporation, UPL, 63 moons technologies, Future Lifestyle Fashions, Future Supply Chain Solutions, Aarey Drugs, BF Utilities, Deepak Fertilisers, Godrej Agrovet, JSW Energy, Just Dial, Dr Lal PathLabs, McLeod Russel, MEP Infrastructure Developers, Mahindra Holidays & Resorts, Motilal Oswal Financial Services, Nelco, NIIT, Reliance Communications, Reliance Capital, Reliance Home Finance, Tata Chemicals, Tata Metaliks, Thyrocare Technologies, UCO Bank, Ujjivan Small Finance Bank, Vakrangee, among otherswill report Q1 FY 21 earnings today.

8. 30 AM: Closing

Sensex and Nifty fell for the second straight session on Thursday in line with global markets, as a dovish stance by the US Federal Reserve warned the coronavirus pandemic might threaten the modest economic recovery. While Sensex ended 335.06 points or 0.88 per cent lower at 37,736.07, NSE Nifty tumbled 100.70 points or 0.90 per cent to end at 11,102.15.

Sensex ends 335 points lower, Nifty holds 11,100 as stalled US stimulus roils global markets