GIFT Nifty Opening Update
GIFT Nifty opened today at 24,373.50. It is down -44.50 points (-0.18%) from yesterday’s close of 24,349.00 — so the trend is negative.
The Indian stock market experienced a significant uptick, propelled by robust purchasing in major index constituents in anticipation of the current Q1 earnings season, on Friday. The BSE Sensex experienced an increase of 964.58 points, representing a rise of 1.25%, concluding at 78,151.45. Meanwhile, the NSE Nifty 50 advanced by 261.55 points, equivalent to a gain of 1.09%, finishing at 24,334.30. However, the market is likely to open lower as trends in the Gift Nifty index signalled a negative start on Monday, 20 July. Gift Nifty was positioned around the 24,293 level, reflecting a decline of more than 29 points from the prior closing of Nifty futures.
“Indian equity markets are expected to open on a largely flat note, with GIFT Nifty trading around 24,345, marginally above Friday’s Nifty close of 24,334, indicating a subdued start to the session. Investor sentiment is likely to remain cautious as escalating geopolitical tensions in the Middle East continue to cloud the global risk environment, with market participants closely assessing the risk of a broader regional conflict and its potential impact on global energy supplies. The heightened uncertainty has prompted a more defensive stance across financial markets, limiting investors’ willingness to take aggressive directional bets,” said Ponmudi R.
As the market indicates a negative opening, certain stocks are expected to attract attention on Monday owing to their individual positive or negative catalysts.
Equities to Monitor:
- One 97 Communications Paytm, UltraTech Cement, Indian Overseas Bank shares will remain in focus as companies are set to announce their Q1 results today.
- Reliance Industries commenced FY27 with robust performance, reporting consolidated revenue of 3.09 lakh crore for the June quarter. This reflects a quarter-on-quarter increase of 5.1% and a year-on-year growth of 26.6%, propelled by significant advancements in its oil-to-chemicals, oil & gas, and digital services sectors.
- HDFC Bank reported a mixed performance for the June quarter, with net profit increasing by 5% year-on-year to Rs 19,059 crore, and net interest income rising by 6.7% to Rs 33,534 crore.
- Yes Bank reported its June quarter results, which were largely in line with expectations. The bank experienced a 33.5% year-on-year increase in net profit, amounting to 1,070 crore, while net interest income rose by 17.5% to 2,786.3 crore.
- Axis Bank reported a performance consistent with expectations for the June quarter, with net profit rising 22.5% year-on-year to Rs 7,113 crore and net interest income increasing by 8% to Rs 14,646.1 crore.
- ICICI Bank reported a 16% increase in net profit year-on-year, reaching Rs 14,804.50 crore for the June quarter, up from Rs 12,768.21 crore in the corresponding period last year.
- IDBI Bank reported a consistent performance in the June quarter, with net profit increasing by 5% year-on-year to Rs 2,115 crore, and net interest income rising by 10% to Rs 3,486 crore.
- Kotak Mahindra Bank’s outgoing CEO, Ashok Vaswani, has announced his decision to step down after more than three years at the helm, attributing his departure to personal reasons. He stated that the bank’s transformation journey has reached completion and also noted the arrival of his first grandchild as a contributing factor to his decision.
- Punjab & Sind Bank reported a robust performance for the June quarter, with net profit increasing by 23.2% year-on-year to Rs 332 crore, and net interest income rising by 15.4% to Rs 1,038.7 crore.
- RailTel Corp on Friday announced a fresh litigation matter, stating that 3i Infotech Limited has initiated arbitration proceedings against it over the Wi-Fi Monetisation Project.