Today the move of stock market will depend on many important factors. Prominent among them are – the results of the first quarter of the companies, the July manufacturing PMI flash data of India, F&O expiry of the Nifty, positive signs from global markets, purchase -selling by institutional investors and IPO market activities.
Gift Nifty Futures were seen trading at 25,290 at 6:32 am. This indicates that the market may start with mild positive speed.
Global signal
Signs from global markets are good. The Asia-Pacific markets saw a fast trend today. Investors’ trends have been strengthened by the consent on trade agreement between the US and Japan and positive signals in negotiations with the European Union. Japan’s topics index rose 1.2% to record high, while Nikkei stood at 1.09%. Korea’s Kospi index rose 1.6% and Australia’s ASX 200 remained stable.
The US markets also saw tremendous boom. S&P 500 closed at a record high and reached 6,358.91 for the third consecutive day. Dow Jones jumped 507.85 points to close at 45,010.29. Nasdaq also crossed the 21,000 level for the first time to close at 21,020.02.
Investors will also look at ECB’s interest rate decision, US unemployment data and July manufacturing and service PMI (UK, Japan and Euro sector) globally.
Look at the results of the first quarter
On the domestic front, today will react to companies such as market Infosys, Dr. Reddy’s, Tata Consumer Products, Bajaj Housing Finance and Persistent Systems the results of the first quarter results. Apart from this, Bajaj Finance, Nestle India, SBI Life, CG Power, REC, Adani Energy, Canara Bank, Indian Bank, Coromandel International, Motilal Oswal, Supreme Industries, Emphassis, Phoenix Mills, APL Apollo, ACC, Aditya Birla AMC, Caffin Tech, UTI AMC, ELT Foods, Companies such as Trident, Sent, Ujjivan SFB, Tanla platforms, Emudra, V-Mart and Johnson Controls-Hitachi are also included. Their results are coming today.
On July 23, foreign institutional investors (FIIs) sold ₹ 2,422.40 crore, while domestic institutional investors (DIIs) purchased ₹ 2,944.90 crore.
IPO update
The IPO market is also active. The mainline IPO of Brigade Hotel Ventures will open today. Apart from this, today is the second day of Indicube Space, TSC India and SME IPO of GNG Electronics. The SME IPO of Monarch Surveyors and Engineering Consultants will enter the third day. At the same time, the allotment of SME IPO of Property Share Investment Trust REIT, Swastika Castle and Sevi Infra and Logistics is to be allocated today.
