SGX Nifty jumps 140 pts, Sensex, Nifty may open in green; Q1 results, global cues among key factors

Analysts say that the Q1 result season has so far been in-line to better than expectations, leading to sector /stocks specific action, which is likely to continue in the near-term as well.

Nifty futures surged higher in early trade, rising 140 points or 0.9 per cent to 15,750 on Singaporean Exchange on weekly F&O expiry day. Analysts expect high volatility on weekly options expiry day. Market particpants will take cues from rising delta COVID-19 variant, vaccination drive, ocrude oil prices, rupee movement against US dollar and other global cues. Besides, investors will closely track April-June quarter results. Aanlysts say that the Q1 result season has so far been in-line to better than expectations, leading to sector /stocks specific action, which is likely to continue in the near-term as well. “Also it may provide investors with some insights into the scale of economic recovery through the management commentaries. Market has seen some sell off from its recent life highs on the back of weak global cues,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

Q1 results today: BSE-listed companies such as Hindustan Unilever Ltd, Ultratech Cement, Bajaj Auto, Hindustan Zinc, ICICI Lombard Genenral Insurance Company, Biocon, Mphasis, Bajaj Holdings, Persistent Systems, IndiaMART InterMESH, Bank of Maharashtra, and IEX will announce their April-June quarter earnings on 22 July.

Global watch: Asian stock markets were trading higher in early trade on Wednesday, with Japan’s stock markets closed for a holiday. Hong Kong’s Hang Seng index was up 1.19 per cent in early trade. The Taiex in Taiwan also gained 1.01 per cent. In overnight trade on Wall Street, US stocks posted their second straight daily gain on Wednesday. The Dow Jones Industrial Average rose 286.01 points, or 0.83 per cent, the S&P 500 gained 35.63 points, or 0.82 per cent, and the Nasdaq Composite added 133.08 points, or 0.92 per cent.

FIIs turn net sellers: On Tuesday, foreign institutional investors (FIIs) sold shares worth Rs 2,834.96 crore, while domestic institutional investors (DIIs) purchased shares worth Rs 873.14 crore on a net basis in the Indian stock market.

Call, PUT OI: The maximum Call OI is at 15,800 strike with 78,095 contracts, followed by 15,700 strike price. While maximum Put OI is at 15,500, followed by 15,600.

Crude import bill nearly triples: The country’s crude oil import bill has increased 190.6% year-on-year to $24.7 billion in Q1FY22 with rising prices of the commodity in the international market and higher procurement volumes with demand for auto fuels returning.

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