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Informist, Thursday, Jul. 31, 2025

 

By Gopika Balasubramanium

 

MUMBAI – Technical analysts expect the benchmark indices to rise slightly on Friday as they have been in the negative territory for the past few weeks. Analysts are confident the Indian stock market has discounted all the weakness related to US tariffs and are hopeful of a trade deal. Some analysts are concerned that India will lose its competitive edge in exports to other Asian countries because of higher US tariffs. 

 

On Wednesday, US President Donald Trump said the US will impose 25% tariffs on Indian imports, along with an additional penalty for importing Russian oil and military equipment. The tariffs will come into effect from Friday.

 

"Market is already in an over-sold zone and a positive trend will be seen in the next one or two weeks," Brijesh Ail, senior technical research analyst at IDBI Capital Market and Securities, said. "As of now, Nifty should take out (cross) 25200 points." Ail sees the Nifty 50 move between 24500 and 25500 points during the next two weeks.

 

On Thursday, the Nifty 50 closed at 24768.35 points, down 86.70 points or 0.4%. The BSE Sensex closed at 81185.58 points, down 296.28 points or 0.4%. The indices would have closed higher if not for the intense selling in the last half hour of trade. Technical analysts expect the 50-stock index to find support at 24600 points and face resistance at 25000 points.

 

On the earnings front, Friday is rather a light day compared to Thursday which saw six large-cap companies declaring results. ITC is the only Nifty 50 stock that will announce its June quarter results Friday. Eicher Motors and Coal India will also be in focus as they announced results post market hours Thursday.

 

Continued stress in ITC's paper and paperboards business due to dumping of imported goods combined with moderate growth in cigarette volume and muted revenue growth in its non-consumer products operations is expected to keep its profit growth rather muted in Apr-Jun. Rise in prices of key commodities is also likely put a strain on margins. The stock is expected to move between INR 405 and INR 416.

 

Eicher Motors reported a robust growth for the June quarter on a year-on-year basis, driven by growth in sales of motorcycles and commercial vehicles. The net profit of INR 12.05 billion was higher than the analysts' estimates of INR 11.37 billion. The stock is expected to trade in a range of INR 5,360-INR 5,560.

 

An on-year decline in sales volumes and moderating realisations from the e-auctions weighed down sharply on Coal India's consolidated net profit for the June quarter. However, the profit declined to INR 87.4 billion but beat the Street's estimate of INR 85.6 billion. The stock is expected to move between INR 370 and INR 380. 

 

Adani Power, Tata Power Co., Godrej Properties, LIC Housing Finance, Tube Investments of India, and UPL will also declare their June quarter results. Alivus Life Sciences, Capri Global Capital, Delhivery, GlaxoSmithKline Pharmaceuticals, Graphite India, Honeywell Automation India, and Kirloskar Brothers are some other companies that will detail earnings Friday.  End

 

Edited by Ashish Shirke

 

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