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Informist, Monday, Jul. 21, 2025

By Gopika Balasubramanium

MUMBAI – India's headline indices are expected to rise slightly on Tuesday, analysts said, adding that markets will likely be volatile throughout the week as majority of large-cap companies are yet to declare their earnings. However, Tuesday is rather a slow day in terms of earnings. 

"It is important for Nifty (50) to sustain 25300 points and if it were to do it, then a trend reversal could be seen," said Brijesh Ail, assistant vice president – technical and derivatives research, IDBI Capital Markets & Securities. If the 50-stock index is to break 25300 points, it can further move up to 25800 points, Ail said. On the downside, Nifty 50 can fall to 24800 points, if it does not sustain 25000 points, Ail said.  

"....difficult to say as we are in the middle of earnings, but it is critical for Nifty to sustain 25200 levels, for it to rise more," Ajit Mishra, senior vice president – technical research at Religare Broking, said. He expects volatility to continue in the indices as companies are yet to report their June quarter earnings. "Today (Monday), the rise was mainly due to banking stocks, which did well in June quarter, however, there are no major (positive) surprises from banking side and, hence, it is difficult to say how much Nifty can go up," Mishra said.  

On Monday, the Nifty 50 closed at 25090.70 points, up 122.30 points or 0.5%. The index closed above 25000 points due to strong gains in shares of select private banks such as ICICI Bank and HDFC Bank. The BSE Sensex closed at 82200.34 points, up 442.61 points or 0.5%. The indices closed higher after two consecutive sessions of losses.

During market hours Monday, UltraTech Cement and Eternal reported their June quarter earnings. UltraTech Cement's earnings for the June quarter exceeded market expectations. The company's net profit rose 49% on year and revenue increased 13%. Earlier in the day, the stock had hit its all-time high of INR 12,714, bit came off highs to close 0.6% higher at INR 12,577. Mishra of Religare Broking is positive on the stock and expects it to find support at INR 12,200-INR 11,800. Mishra sees the stock facing resistance at INR 13,500. 

Although Eternal's consolidated net profit for the June quarter fell short of estimates, its revenue from operations exceeded expectations. The company's net profit plunged 90%, mainly due to a rise in operating costs but its revenue for the June quarter increased 70% on year. The company's revenue from its core quick commerce vertical, Blinkit, more than doubled on year. Mishra expects volatility in its trade and expects it to find support at INR 250-INR 240 and face resistance at INR 300. The stock closed at INR 271.70, up 5.6%. 

On Tuesday, Indian Railway Finance Corp., Colgate Palmolive (India), Dixon Technologies (India), Mahindra & Mahindra Financial Services, One 97 Communications, CreditAccess Grameen will report their June quarter earnings. Other such as Dalmia Bharat, JSW Infrastructure, KEI Industries, United Breweries, Zee Entertainment Enterprises, and Zensar Technologies will also declare their earnings for the first quarter of 2025-26 (Apr-Mar).  End

Edited by Akul Nishant Akhoury

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