The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 27 points gain.
The BSE Sensex climbed 254.80 points to 53,158.85, while the Nifty50 jumped 70.20 points to 15,924.20 and formed bullish candle on the daily charts.
According to pivot charts, the key support levels for the Nifty are placed at 15,868.7, followed by 15,813.2. If the index moves up, the key resistance levels to watch out for are 15,966 and 16,007.8.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
US Markets
US stock indexes fell on Thursday as a rally in growth stocks ran out of steam, while economically-sensitive cyclicals gained as a fall in weekly jobless claims last week strengthened views about a recovery in the labor market.
The Dow Jones Industrial Average was up 7.35 points, or 0.02%, at 34,940.58 and the S&P 500 was down 14.09 points, or 0.32%, at 4,360.21. The Nasdaq Composite dropped 102.25 points, or 0.70%, at 14,542.70.
Asian Markets
Shares in Asia-Pacific mostly fell in Friday morning trade as investors await the Bank of Japan’s monetary policy statement. The Nikkei 225 in Japan fell 0.84% in morning trade while the Topix index slipped fractionally. South Korea’s Kospi declined 0.52%.
SGX Nifty
Trends on SGX Nifty indicate a positive opening for the index in India with a 27 points gain. The Nifty futures were trading at 15,948 on the Singaporean Exchange around 07:30 hours IST.
RBI announces second purchase of G-SAP 2.0 on July 22 for Rs 20,000 crore
The Reserve Bank of India (RBI) on July 15 announced the second purchase of government bonds under the government securities acquisition programme 2.0 (G-SAP 2.0). This will be conducted for Rs 20,000 crore on July 22.
Further, the RBI said it reserves the right to decide on the quantum of purchase of individual securities, accept bids for less than the aggregate amount, purchase marginally higher/lower than the aggregate amount due to rounding off and accept or reject any or all the bids either wholly or partially without assigning any reasons.
Sebi exempts family trust linked to Capri Global Capital's promoters from open offer obligations
Markets regulator Sebi on Thursday exempted J J R Family Trust from making open offer following its proposed acquisition of shares in Capri Global Capital Ltd. The order comes after Sebi received application from the trustee of J J R Family Trust seeking exemption from the applicability of SAST (Substantial Acquisition of Shares and Takeovers) Regulations in the matter of proposed acquisition of shares in Capri Global Capital.
The proposed acquisition involves direct and indirect acquisition of shares of Capri Global Capital (target company) by the Trust from promoter and members of promoter group of the company, Sebi said in an order.
OPEC sees world oil demand reaching pre-pandemic level in 2022
OPEC stuck to its forecast for a strong recovery in world oil demand in the rest of 2021 and predicted oil use would rise further in 2022 similar to pre-pandemic rates, led by growth in China and India.
The Organization of the Petroleum Exporting Countries said in its monthly report on Thursday that demand next year would rise by 3.4% to 99.86 million barrels per day (bpd), averaging more than 100 million bpd in the second half of 2022.
"In 2022, healthy expectations for global economic growth in addition to improved containment of COVID-19 through the acceleration of vaccination programmes, effective treatment and natural immunisation, particularly in emerging and developing countries, along with frequent testing procedures, are assumed to spur consumption of oil next year to comparable pre-pandemic levels," OPEC said in the report.
US unemployment claims fall to 360,000, a new pandemic low
The number of Americans applying for unemployment benefits has reached its lowest level since the pandemic struck last year, further evidence that the U.S. economy and job market are quickly rebounding from the pandemic recession.
Thursday’s report from the Labor Department showed that jobless claims fell by 26,000 last week to 360,000. The weekly tally, a proxy for layoffs, has fallen more or less steadily since topping 900,000 in early January.
Wipro's Q1 profit jumps 36% YoY to Rs 3,242.6 crore, revenue rises 22%
IT services firm Wipro on July 15 reported consolidated net profit of Rs 3,242.6 crore for the Q1FY22, up 35.7 percent year-on-year (YoY) and 9 percent quarter-on-quarter (QoQ). The company had reported a net profit of Rs 2,390.4 crore in Q1FY21 and Rs 2,972.3 crore in Q4FY21. Revenue for the quarter under review came in at Rs 18,252.4 crore, up 22 percent against Rs 14,913.1 crore in the year-ago period.
IT services segment revenue stood at $2,414.5 million, up 12.2 percent quarter-on-quarter (QoQ) and 25.7 percent year-on-year (YoY). IT services operating margin for the quarter was at 18.8 percent, a decrease of 29 bps YoY while net income for the quarter was Rs 3,230 crore, an increase of 35.2 percent YoY.
Results on July 16
HDFC Asset Management Company, Den Networks, GNA Axles, Just Dial, L&T Finance Holdings, Maximaa Systems, Starlog Enterprises, and Visagar Polytex will release quarterly earnings on July 16.FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 264.77 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 439.41 crore in the Indian equity market on July 15, as per provisional data available on the NSE.
With inputs from Reuters & other agencies