Global Markets Trade Higher; Hindustan Copper, Indraprastha Gas to Report Results Today

Posted Date: June 25 2021
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At 8:15 am IST, SGX Nifty Futures was trading at 15,837, compared with Nifty’s close of 15,791 yesterday.
 

Market Pulse: Confirmed Uptrend

Distribution Day Count: Three

Global stock markets: Dow30, +1%; S&P 500, +0.6%; Nasdaq, +0.7%; Kospi, +0.7%; Nikkei, +0.7%; Shanghai Composite, +0.5%

Yesterday, Nifty gapped up by almost 60 points. It crawled higher and moved above 15,800. However, the range was narrow. Gains were mostly from IT stocks. TCS and Infosys were the top gainers on the index. Nifty Auto, Financial Services, Bank, and Metal closed 0.2–0.8% higher. Nifty Realty, Pharma, and PSU Bank closed 0.5–1.2% lower. A few pockets in the broader market faced selling pressure. Midcap and Smallcap underperformed the benchmark indices.

The distribution day count currently stands at three. If the index falls further, adds a distribution day, and breaches its key moving averages, we may change the market status to an Uptrend Under Pressure. Focus on quality ideas emerging out of sound bases with RS line at or near new highs while reducing exposure to stocks breaking below key support levels.

Results Today: Hindustan Copper (Nse)Indraprastha GasFinolex Industries (Nse), among others

Key News:

Oil & Natural Gas posted Q4 FY21 results. It reported PAT of Rs 10,946.2 crore as against a loss of Rs 6,725.3 crore for Q4 FY20. Revenue was up to Rs 1,18,206 crore from Rs 1,08,004 crore  in Q4 FY20.

Ashok Leyland posted Q4 FY21 results. It reported PAT of Rs 377.1 crore compared with a profit of Rs 57.8 crore for Q4 FY20. Revenue advanced to Rs 8,176.3 crore from Rs 5,127.1 crore in Q4 FY20.

State Bank Of India launched a business loan product to provide loans of up to Rs 100 crore to hospitals, nursing homes, diagnostic centers, pathology labs, and other manufacturing and supply-related businesses engaged in critical health care services.

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Disclaimer: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.For more information, see our Legal disclosures here.
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