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 23 points gain.
Sensex closed 639 points, or 1.22 percent, higher at 52,837.21 while the Nifty settled at 15,824.05, up 192 points or 1.23 percent.
According to pivot charts, the key support levels for the Nifty are placed at 15,755.33, followed by 15,686.67. If the index moves up, the key resistance levels to watch out for are 15,863.73 and 15,903.47.
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 markets closed higher after a mixed trading session as investors digested negative economic data reflecting the country's struggle to move past the COVID-19 pandemic, while yields on safe-haven assets such as US Treasuries slipped.
The Dow Jones Industrial Average rose 25.35 points, or 0.07%, to close at 34,823.35, the S&P 500 gained 8.79 points, or 0.20%, to end the day at 4,367.48 and the Nasdaq Composite added 52.64 points, or 0.36%, to close at 14,684.60.
Asian Markets
Shares in Asia-Pacific were lower in Friday morning trade as investors monitor Chinese tech stocks in Hong Kong after regulatory concerns resurfaced. South Korea’s Kospi sat below the flatline in early trade. In Australia, the S&P/ASX 200 shed 0.18%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.07% lower.
SGX Nifty
Trends on SGX Nifty indicate a positive opening for the index in India with a 23 points gain. The Nifty futures were trading at 15,837 on the Singaporean Exchange around 07:00 hours IST.
Retail investors' interest in the Indian securities market has sharply increased to an average of 2.45 million Demat accounts opened per month during April-June, Sebi chief Ajay Tyagi said on Thursday.
The prevailing low-interest rates and ample liquidity availability are the major factors for the increased investors' interest in the securities market in India, he added.
REITs, InvITs to disclose investors' complaints on websites, stock exchanges filings
Markets regulator Sebi on Thursday said all complaints received by emerging investment instruments REITs and InvITs will have to be disclosed on their websites and to stock exchanges in a prescribed format.
In separate circulars, Sebi said all complaints including SCORES received by InvIT and REITs will have to be disclosed in the format on their respective websites and also filed with the stock exchange(s) where their units are listed within 21 days from the end of financial year or end of quarter, as the case may be.
ECB pledges to keep rates low until inflation hits new 2% target
The European Central Bank on Thursday said interest rates would stay at their current record low levels until it sees inflation "durably" reaching the bank's new target of two percent.
The 25-member governing council "expects the key ECB interest rates to remain at their present or lower levels until it sees inflation reaching two per cent well ahead of the end of its projection horizon and durably for the rest of the projection horizon," the bank said in a statement, adding that "this may also imply a transitory period in which inflation is moderately above target".
Results on July 23
Reliance Industries, Ambuja Cements, JSW Steel, Federal Bank, United Spirits, Yes Bank, Artson Engineering, Atul, Aurionpro Solutions, Cigniti Technologies, Crompton Greaves Consumer Electricals, Dynamatic Technologies, Fineotex Chemical, Majesco, Nectar Lifesciences, Panacea Biotec, ABB Power Products and Systems India, SBI Cards and Payment Services, Seshasayee Paper & Boards, SKF India and Symphony.
Zomato to list on exchanges today
Zomato, one of the leading food services platforms in India in terms of value of food sold, will list on the bourses on July 23. Experts suggest the stock could list at a price of more than Rs 100 per share, i.e. more than 30 percent premium over final offer price of Rs 76.
Despite the higher valuation, analysts expect a strong listing on the back of significant jump in grey market premium in last few days, positive market sentiment, earnings surprise by Jubilant Foodworks in Q1FY22, and the first mover advantage in the food delivery segment along with expected financial improvement.
Zomato shares traded at a premium of Rs 20-22 in the grey market, the unofficial platform for trading in IPO shares, the data available on IPO Watch and IPO Central showed. The grey market premium opens at the time of price band announcement, till the listing of shares on the bourses.
This resulted into a trading price of Rs 96-98 in the grey market, a 26-29 percent premium over issue price of Rs 76 per share.
US jobless claims rise to 419,000 from a pandemic low
The number of Americans seeking unemployment benefits rose last week from the lowest point of the pandemic, even as the job market appears to be rebounding on the strength of a reopened economy.
The Labor Department said Thursday that jobless claims increased last week to 419,000 from 368,000 the previous week. The weekly number of first-time applications for benefits, which generally tracks layoffs, has fallen steadily since topping 900,000 in early January.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 247.59 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 942.55 crore in the Indian equity market on July 22, as per provisional data available on the NSE.
Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
With inputs from Reuters & other agencies
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