Daily Market Update- Equity 7 July 2022 | Globe Capital Market LTD.
Daily Market Update- Equity 7 July 2022

Nifty index settled at the day’s high, tad below 16000 levels after gaining 178 points.

Overview and Outlook

Global Market update

  • US equity markets ended on flat to positive note
  • European equity markets were up in range 1.17 to over 2%
  • Majority of Asian equity markets are trading in green
  • SGX Nifty is up 125 points (as on 8:24 AM)


News Highlights from across the globe

  • Asian equities rose on Thursday amid fall in oil prices below $100 per barrel even as the minutes from the latest FOMC meeting highlighted the possibility of a ‘more restrictive’ monetary policy.
  • Wall Street ticked upwards on Wednesday as investors juggled concerns over inflation versus a recession after Federal Reserve minutes showed officials rallied around a large rate hike at their June meeting.
  • All three major indices ended higher after the release of the Fed minutes, which showed officials agreeing that the inflation outlook had deteriorated and expressing concern over lost faith in the Fed’s ability to stem it. The Fed at that meeting hiked rates by 0.75 percent for the first time since 1994.


Important news & Earnings Updates from the domestic front

  • Titan: The first quarter of FY23 was a near normal first quarter after a gap of 2 years. Sales grew 205% year-on-year on a low base and clocked 3-year CAGR of 20.5% over Q1FY20, the only non-disrupted first quarter in the last 3 years.
  • NTPC/Gujarat Alkalies and Chemicals: The companies signed a Memorandum of Understanding to collaborate in the field of Renewable Energy, Green Methanol & Green Ammonia and mutually explore the opportunities for the supply of 100 MW power. This would be the first commercial scale green Ammonia and Green Methanol project in the country.
  • Sobha: The company’s sales volume rose 51.7% yoy to 13.6 lakh sq. ft. Total sales value rose 67.7% yoy to Rs 1,145 crore. Average price realization increased to Rs 8,431 in quarter ended June as compared to Rs 7,626 a year ago.
  • Raymond: The company has signed a joint development agreement for a premium residential project in Bandra, Mumbai. Its revenue potential is estimated at Rs 2,000 crore.
  • Equitas Small Finance Bank: The bank’s advances grew 22% YoY to 21,699 crore in the quarter from April to June. Deposits grew 19% to 20,386 crore in Q1 of FY23. CASA ratio stood at 51.74% on June 30.
  • City Union Bank: The bank will raise Rs 500 crore through the QIP route
  • PVR: To open 4-screen multiplex at Odeon Mall, Ghatkopar, Mumbai.


Nifty Outlook

Nifty index settled at the day’s high, tad below 16000 levels after gaining 178 points.

Mid cap index outperformed benchmark as it gained over 2% while Small cap index could gain just about 0.49% against 1.13% rise in Nifty index. Market breadth favored the bulls by huge margin as 1252 advances were recorded against 867 declines at NSE.

Barring Oil & Gas index all sector gauges tracked at NSE settled in green, Auto & FMCG index gained maximum, up 2.6% each, closely followed by Realty index that that was up 2.27%.

Nifty index has crossed trading range 15600-900 from the higher side and settled above the same by huge margin. Going ahead, sustenance above 16000-mark is the key for sustainable up move towards 16150/200 levels.


Derivatives overview and outlook

Nifty July futures ended at 16,018.45, a premium of 28.65 points. Nifty July futures rose 1.07% and 2,648 shares in Open Interest.

Nifty Bank July futures ended at 34,431.70, a premium of 107.45 points. Nifty Bank July futures rose 17.11%, 15,193 shares in Open Interest.

FII & DII Trading Activity

Foreign institutional investors (FIIs) were net sellers, offloading shares worth Rs 330.13 crore, whereas domestic institutional investors (DIIs) were net buyers worth Rs 1,464.33 crore on July 6, as per provisional data available on the NSE.


Nifty Futures & Bank Nifty Futures Key Levels

Nifty Futures – Resistances 16100-16200; Supports 15900-15800

Banknifty Futures – Resistances 34800-35160; Supports 33150-33700


AGM today: Tata Power Balkrishna Industries


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