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Jul 23, 2021 4:36 PM

Here are the highlights of market performance this week

- Sensex Slips 0.3%, Nifty 0.4%, Nifty Bank 2% & Midcap Index 1% This Week

- Nifty IT Is The Top Gaining Index, With A Move Of Nearly 2%

- Auto & PSU Bank Amongst Top Losing Indices This Week

- Bajaj Finserv, Wipro, Asian Paints, BPCL & Nestle Top Nifty Gainers

- IndusInd, HDFC Bank, Tata Motors, HDFC Life & Hindalco Top Nifty Losers

Jul 23, 2021 4:36 PM

Joseph Thomas, Head of Research, Emkay Wealth Management

The markets today witnessed a bumper listing of one of the most awaited IPOs in recent history, Zomato. The exuberance though was not broad-based, the market breadth remained negative for the day. The weekly trend too remained marginally negative as all the major market cap based broader indices closed marginally in the negative for the week. The strong show of IT stocks continued whereas slippages in reported asset quality and expectations of rising NPA risks dragged down the banking stocks. The expected rise in NPAs may have broader market implications as it exposes the pandemic-caused vulnerability of both households as well as corporate balance sheets. Over the coming week, the focus would continue to be on the corporate earnings, as the market participants try to gauge the sustainability of the earnings upgrades seen during the last couple of earning seasons. Another factor to watch is the rise in the delta variant cases in the US as also in certain parts of Europe.

Jul 23, 2021 4:30 PM

Ajit Mishra, VP - Research, Religare Broking

Markets traded volatile and ended marginally in the green amid mixed global cues. In the first half, the benchmark hovered in a range however healthy buying in banking, FMCG and realty aided markets to inch gradually higher as the session progressed. Markets will first react to results of two index majors viz. Reliance Industries and ICICI Bank on Monday i.e. 26th July. Besides, participants will be closely eyeing the global markets for cues. As we’re again trading closer to the upper band of the prevailing consolidation range i.e. 15,900 zone, we reiterate our view to limit naked leveraged positions and wait for a decisive signal from the index.

Jul 23, 2021 4:29 PM

Here are key stocks that moved the most on July 23

For the week, Sensex fell 0.3 percent, while the Nifty declined 0.4 percent. The banking index, Nifty Bank fell 2 percent and the Nifty Midcap Index by 1 percent.

Jul 23, 2021 4:28 PM

Nagaraj Shetti, Technical Research Analyst, HDFC Securities

The short term uptrend of the Nifty remains intact. There is a possibility of further consolidation or minor downward correction from the highs in early next week. A sustainable move above 15,900 could open the next upside towards 16,100 levels in the short term. Any weakness could find support at 15,750 levels.

Jul 23, 2021 4:26 PM

Markets This Week | Bajaj Finserv, Wipro, Asian Paints, BPCL & Nestle top Nifty gainers.

Jul 23, 2021 4:26 PM

Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities

After two weeks of low volatility, USDINR saw some decent two-way moves. Prices oscillated between 74.35 and 75.10 levels. However, the month-old range between 74.20 to 75.10 remains intact. The reason being RBI remains a major buyer of US Dollars at lower levels and corporate $ flows and FDI inflows are capping the upside. The end result is a range of 1%. Next week prices may continue in the current range as long as RBI remains a major buyer of US Dollars. US central bank meeting on Wednesday is not expected to deliver any new information and hence would keep USDINR within 74.20 and 75.00 range. IPO-related FPI flows may pick up over the next week.

Jul 23, 2021 4:18 PM

Manish Shah, Founder, Niftytriggers.com

Nifty remains in a range between 15,600 on the lower side to 15,950 on the higher side. The volatility contraction is taking longer than normal. The contraction in volatility cannot be a permanent feature. Sooner or later market should show a directional movement. The pattern for the week is a normal ranged candle. With a longish lower shadow. The tilt is definitely on the bullish side. With international markets supporting the move we could see Nifty showing some positive moves on a break above 15,950. Nifty has tested the resistance At 15,950-15,900 thrice. The general rule is that price should see a breach the fourth time. On the daily Nifty has taken a pause at gap resistance at 15,880-15,840. A close above 15,880 will be the first sign that the gap area is closed and the markets could move higher. Next week is the last week of July expiry. Traders could consider betting that Nifty would trade beyond 16,200-16,300 going into the August expiry.

Jul 23, 2021 4:18 PM

Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services

The event risk to the fx market is next week’s FOMC policy. So the USDINR spot will remain a little directionless until then as with the rising covid cases in the US, the Fed may communicate a dovish stance. However, any hawkish commentary or hints at tapering the asset purchase program will surge the USDINR spot above the 75 zone. Thus, for next week, we expect the trend to be sideways in between 74-75.25.

Jul 23, 2021 4:06 PM

Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market witnessed a swift recovery after the initial fall, 15,800 will be an important support level in the short-term perspective. If the market breaches the level of 15,900 and is able to sustain above this level, the market expects to gain momentum, leading to an upside projection of 16,200 levels. the momentum indicators like RSI and MACD to stay positive and market breadth to improve, further strengthening a short-term bullish outlook.

Jul 23, 2021 4:05 PM

Markets At Close | Midcap index rises 47 points to 27,585; market breadth favours declines

Jul 23, 2021 3:56 PM

Rupee At Close | The Indian rupee ended higher at 74.40 per dollar amid buying in the domestic equity market. The local unit opened 7 paise lower at 74.53 per dollar against the previous close of 74.46 and traded in the range of 74.37-74.57.

Jul 23, 2021 3:54 PM

Jul 23, 2021 3:47 PM

Market At Close | Here are the highlights of today’s trading session

- Financials Help Market Close In The Green, Led By ICICI Bank

- Nifty Rises 32 Points To 15,856 & Sensex 139 Points To 52,976

- Nifty Bank Rises 357 Points To 35,034 with ICICI Bank Contributing 279 Points

- Midcap Index Rises 47 Points To 27,585; Market Breadth Favours Declines

- ICICI Bank & ITC Top Nifty Gainers Ahead Of Q1 Earnings; Both Stock Up 3% Each

- IT Stocks Continue The Gaining Momentum; Wipro & HCL Tech Top Gainers

- Mphasis Moves 5% Higher After A Strong Set Of Earnings For Q1

- Jubilant Food Extends Thursday’s Gains; Stock Up Nearly 15% This Week

- Vodafone Idea Slips While Bharti Airtel Rises After SC Dismisses Plea On AGR Recomputation

- Zomato Makes A Strong Debut, Closes With premium Of 66% To The Issue Price Of Rs 76/Sh

- Zomato’s Market Cap At Rs 1 Lakh Cr, Higher Than 12 Nifty Companies

- Zomato’s Mkt Cap Surges Ahead Of Tata Motors, Tata Cons, Britannia & IndusInd Bank

Jul 23, 2021 3:40 PM

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