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Informist, Friday, Jul. 31, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Indices seen higher for third day; Q1 results in focus

 

MUMBAI--0840 IST--Headline equity indices are expected to open higher Friday, extending gains for a third straight session, tracking early gains in most Asian equity indices. Brent crude oil prices also eased slightly to the low of $88 a barrel. Shares of Sun Pharmaceutical Industries, Bajaj Finserv, ITC, and Maruti Suzuki will be tracked as these Nifty 50 companies are scheduled to announce their June quarter earnings later in the day.

 

At 0842 IST, the August futures contract of GIFT Nifty was at 24419.50, marginally higher from Thursday's close. This was over 100 points higher than the Nifty 50's previous close of 24317.15, which suggested a higher opening for the market Friday. Nirav Harish Chheda of Nirmal Bang expects the market to remain positive in the near term, with 24500–24800 likely to come. He expects the Nifty 50 to find support at 24000 level. "Going ahead, a decisive close above 24400 could lead it towards 24600 spot levels, which is also the upper band resistance of the past one-and-a-half-month-long consolidation range," Vipin Kumar, assistant vice president of research at Globe Capital Market, said. "Conversely, sustained trading below 24100 spot levels could drag it back to 23800 and lower levels in the near term."

 

Shares of Tata Steel will be in focus as the company reported its June quarter earnings Thursday post-market hours. The steel company posted a 12% on-year rise in its consolidated net profit at INR 23.18 billion. However, this would mean a decline of almost 21% sequentially. Its revenue from operations grew over 14% on year, but declined nearly 4% sequentially to INR 607.94 billion.

 

Sun Pharmaceutical Industries is expected to post a consolidated net profit of INR 29.8 billion for the reporting quarter, down nearly 4% from a year ago. Its revenue is estimated at over INR 155.3 billion, up 12% on year. Maruti Suzuki India is likely to report net profit of INR 32.2 billion, down 13% on year. The automobile major's revenue from operations is expected at INR 525.2 billion, up 37% on year. ITC is expected to report net profit of INR 45 billion, which would mean a decline of 9% on year and a 13% on quarter, for the June quarter. Its revenue is expected to fall over 5% on year, but rise 16% sequentially to nearly INR 187 billion.

 

South Korea's KOSPI gained significantly during early trade, up over 13%. The Nikkei 225 Day was up over 4%. All three major US indices closed higher Thursday with gains in semiconductor stocks due to a 15% jump in Microsoft, coupled with double-digit gains in other technology stocks.  (Arundathi A R)

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Equity Alert: Asian markets open higher, boosted by a 23% jump in SK Hynix

 

MUMBAI--0800 IST--Indices in Asia opened higher Friday led by gains in technology stocks which took cues from the gains in US technology stocks. South Korea's Samsung Electronics jumped more than 19% and SK Hynix rose nearly 23%. This took the region's benchmark Kospi up more than 13%. Japan's Advantest soared more than 17% and Tokyo Electron jumped 7%. The SoftBank Group rose more than 15%. This took the Nikkei 225 nearly 5% higher. The broad market Topix rose around 2%. 

 

This follows the rise in US technology stocks. Microsoft and Amazon posted large gains Thursday after reporting better-than-expected earnings. "Both the earnings as well as the sentiment are kind of coming back a bit after the really overexaggerated move in the earlier part of the week," Reuters quoted Fabien Yip, a market analyst at IG as saying. "The AI demand story didn't really decelerate, it seems like it's still sustainable. So the selloff that we saw... is maybe the market overreacting to some of those concerns around (capex spending)."

 

Other technology stocks in the region which posted gains were Disco, Lasertec, and Renesas Electronics. Semiconductor manufacturers Disco and Lasertec rose nearly 13?ch. Renesas Electronics rose more than 7%.

 

The Bank of Japan is likely to keep interest rates steady at its meeting. The BoJ is expected to keep short-term interest rates steady at 1?ter it raised rates in June, Reuters reported. The BoJ is also expected to keep the borrowing costs higher after it conducted a yen-buying and dollar-selling session in New York Thursday to push the yen away from its four-decade low.

 

Following are the levels of key indices in the region at 0758 IST:

 

Index	Level	Change in %
Nikkei 225 Day	64916.99	4.9
TOPIX FIRST SECTION	4026.29	1.9
S&P/ASX 200 Index	8980.80	0.2
KOSPI Index	6353.16	13.6
Hang Seng Index	25733.25	(-)0.5
CSI 300 Index	4624.26	1.6
FTSE Singapore Strait Times	5612.60	(-)1.1

 

(Deesha Jadhav)

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Equity Alert: US markets close higher, Microsoft leads tech stock gains

 

MUMBAI--0715 IST--Major US indices ended higher Thursday led by gains in semiconductor stocks fuelled by a 15% jump in Microsoft accompanied by double-digit gains in other technology stocks such as Advanced Micro Devices, Sandisk, and Micron Technology. These gains outpaced the fall in Meta, Qualcomm, and Apple. Meta fell nearly 8?ter it reported a 91?ll in free cash flow in the June quarter.

 

Microsoft rose sharply after its forecast for quarterly sales came in above expectations and it reported lower than estimated capital expenditure. The technology-heavy Nasdaq Composite closed nearly 3% higher. The Dow Jones Industrial Average closed more than 1% higher and the S&P 500 closed nearly 2% higher.

 

"These are true battleground stocks. Investors can't make up their minds whether the ROI on the massive capex spending is going to be worthwhile or not," Reuters quoted Jed Ellerbroek, portfolio manager at Argent Capital Management as saying. "Microsoft delivered yesterday, and maybe Microsoft is going to be able to move itself from the 'battleground' camp to be a 'trusted AI winner' stock."

 

US GDP growth slowed to 1.5% in the June quarter from 2.1% a quarter ago and was below economists' expectations. US bond yields rose, but traders are now expecting only a 59% chance that the US Federal Reserve will raise rates in September, down from 82% a week ago, Reuters reported.

 

Following are the levels of major US indices Thursday:

 

Index	Level	Change in %
Dow Jones Industrial Average	52208.06	1.2
NASDAQ Composite	25122.18	2.8
S&P 500	7437.63	1.7

 

(Deesha Jadhav)

 

US$1 = INR 95.68

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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