Top 10 things to know before the market opens

The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with a 95 points loss.

The BSE Sensex rose 138.59 points to 52,975.80, while the Nifty50 gained 32 points to close at 15,856 and formed Doji Cross kind of pattern on the daily charts as the closing was near its opening levels. During the week, the index fell 0.4 percent but formed bullish candle on the weekly scale as the closing was higher than opening levels.

According to pivot charts, the key support levels for the Nifty are placed at 15,783, followed by 15,710. If the index moves up, the key resistance levels to watch out for are 15,914.4 and 15,972.8.

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

Stocks rallied to records on Wall Street Friday, and the Dow Jones Industrial Average closed above the 35,000 level for the first time, as the market continued to roar back from its short-lived swoon at the start of the week. The S&P 500 index climbed 44.31, or 1%, to 4,411.79 to top its prior all-time high, set early last week. The Dow rose 238.20, or 0.7%, to 35,061.55, and the Nasdaq composite gained 152.39, or 1%, to 14,836.99.

Asian Markets

Asian shares struggled to rally on Monday as super-strong US corporate earnings sucked funds out of emerging markets and into Wall Street, where records were falling almost daily.

Japan’s Nikkei bounced 1.6% in early trade, but that was off a seven-month low. South Korea has fared somewhat better thanks to demand for tech stocks but was little changed on Monday.

SGX Nifty

Trends on SGX Nifty indicate a negative opening for the index in India with a 95 points loss. The Nifty futures were trading at 15,759 on the Singaporean Exchange around 07:30 hours IST.

SEBI gives more time to top 100 listed companies to hold AGM

Easing compliance norms for firms amid ongoing coronavirus pandemic, market regulator SEBI on Friday said the top 100 companies by market capitalisation can delay their annual general meetings (AGM) by a month. Such listed entities will hold their AGM within six months from the date of closing of the financial year for 2020-21, the Securities and Exchange Board of India (SEBI) said in a circular.

Under the rules, the top 100 listed entities by market capitalisation are required to hold their AGM within five months from the date of closing of the financial year.

Reliance Industries Q1 PAT jumps 67% YoY to Rs 13,806 crore

India's largest company by market capitalisation, Reliance Industries (RIL) on July 23 reported June quarter profit at Rs 13,806 crore, up 66.7 percent year-on-year (YoY), with normalised tax provision. The revenue of the oil-to-telecom conglomerate stood at Rs 1.44 lakh crore. However, the numbers on sequential basis were impacted due to weakness in retail, RIL said.

The company posted record consolidated EBITDA for the quarter under review at Rs 27,550 crore, up 27.6 percent YoY and 3.6 percent QoQ on strong oil-to-chemical (O2C) and digital services performance. Consolidated EBITDA margin grew 190 bps QoQ to 17.3 percent.

"I am happy that our company has delivered robust growth despite facing a highly challenging operating environment caused by the second wave of the COVID pandemic. The results of the first quarter of FY22 clearly demonstrate the resilience of Reliance’s diversified portfolio of businesses that cater to large parts of the consumption basket," said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

Investors opening new trading, demat account from October to get choice of providing nomination: SEBI

Markets regulator SEBI on Friday said investors who are opening new trading and demat account from October 1 will have the choice of providing nomination or opting out nomination. Also, the regulator has issued a format for nomination form and opting out of nomination through a 'declaration form' in this regard, according to a circular.

Further, all existing eligible trading and demat accountholders will have to provide choice of nomination by March 31, 2022, failing which the trading and demat accounts will be frozen, SEBI said. Under the new framework, trading members and depository participants will activate new trading and demat accounts from October 1, 2021, only upon receipt of such forms.

Eurozone economy booms at fastest rate in 21 years

Business activity in the eurozone shot ahead at its fastest rate in 21 years in July, a closely watched survey said on Friday, as the economy went into full throttle with loosened COVID-19 restrictions. But the survey showed that the spread of the Delta variant was beginning to chip away at business confidence, with concern that new measures could again sow chaos in the economy.

The PMI composite index from economic data group IHS Markit said activity rose from 59.5 in June to a strong 60.6 in July, well above the 50-point level that indicates growth. With the summer in full swing, Chris Williamson, chief economist at IHS Markit, said that tourism and hospitality sectors were especially responsible for pushing the economy to historic growth levels.

Results on July 26

Axis Bank, Kotak Mahindra Bank, Larsen & Toubro, Tata Motors, SBI Life Insurance Company, Vedanta, Alembic Pharmaceuticals, Apollo Pipes, Coromandel International, DLF, Glaxosmithkline Pharmaceuticals, Garden Reach Shipbuilders & Engineers, Jindal Stainless, KPIT Technologies, M&M Financial Services, Navin Fluorine International, Phillips Carbon Black, Ramkrishna Forgings, Sun Pharma Advanced Research Company, Vakrangee, and Zensar Technologies will release quarterly earnings on July 26.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 163.31 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 2,187.80 crore in the Indian equity market on July 23, as per provisional data available on the NSE.

Stocks under F&O ban on NSE

Five stocks - Cadila Healthcare, Canara Bank, Vodafone Idea, NALCO, and Sun TV Network - are under the F&O ban for July 26. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

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