MARKET LIVE: SGX Nifty gains 60 pts; RIL Q1 numbers in focus today

The June quarter results by Reliance Industries will be a major focus in the markets today. Besides, investors will also react to global cues, Covid-19 trends and other corporate results.

Reliance Industries reported about 31 per cent rise in Q1 net profit at Rs 13,233 crore, aided by an exceptional gain of Rs 4,966 crore arising out of the sale of partial stake in the fuel retail business to BP Global Investments, as well as rise in other income. READ MORE

Results today
 

Today, a total of 576 companies including State Bank of India, Tata Motors, Sun Pharmaceutical Industries, Indian Oil Corporation are scheduled to announce their quarterly results.

For SBI, stake sale gain from SBI Life during the June quarter may be the only saving grace as analysts see the bank's business growth to be modest in Q1 amid declining interest income and lower net profit sequentially. READ MORE

Global cues
 

US equities dipped overnight after US economy recorded a worst quarterly plunge ever of 33 per cent annualized rate in the June quarter, which is when the viral outbreak shut down businesses. However, the quarterly earnings report by the big tech quartet of Apple, Amazon, Facebook, and Alphabet, helped soften the blow. Overall, the Dow Jones fell 0.85 per cent, the S&P 500 lost 0.38 per cent, and the Nasdaq added 0.43 per cent.

Asian equities slid in Friday's early deals. Hong Kong's Hang Seng index rose 0.3 per cent. Australian ASX 200 index lost 1.4 per cent, while Japan's Nikkei also slipped 1.4 per cent.

In commodity markets, Brent crude was trading at $43.34 a barrel.