The market indices opened in green on Tuesday (July 27). The benchmark Sensex was up 153 points, or 0.29 per cent, to trade at 53,006 levels. The Nifty50 was up 36 points at 15,861.
Tata Steel was the top gainer in the Sensex pack, rising more than 1 per cent, followed by ICICI Bank, HDFC Bank, IndusInd Bank, Maruti, Titan and SBI. On the other hand, Axis Bank, L&T, HCL Tech, Nestle India and HDFC were among the laggards.
At 9.25 AM, the Nifty Metal index was up 1 percent boosted by Hindalco, NALCO and Tata Steel stocks.
In the previous session, Sensex ended 123.53 points or 0.23 per cent lower at 52,852.27, and Nifty slipped 31.60 points or 0.20 per cent to 15,824.45.
Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 2,376.79 crore on Monday, as per provisional exchange data.
Domestic markets look to be modestly good as of now. Notably, 1QFY22 corporate earnings have been strong so far and commentary of most management also have been encouraging, said Binod Modi Head-Strategy at Reliance Securities.
"While asset quality worry for banks and NBFCs post 1QFY22 earnings cards of HDFC Banks and ICICI Banks weighed on investor sentiment, it is likely to improve with the reopening of the complete economy and faster job creation," he stated, PTI said.
While concerns over global growth due to the recent rise in delta variant coronavirus cases in different parts of the world continue to persist, we believe that the underlying strength of the domestic market remains intact, Modi added.
Asian markets edge higher
Shares in Asia-Pacific edged higher in Tuesday morning trade after touching year to date lows the day before, with traders keeping at least half an eye on the United States where major companies report earnings and the Federal Reserve meets on policy this week.
Profits at China’s industrial firms rose 20 percent in June from a year earlier to 791.8 billion yuan ($122.27 billion), official data showed on Tuesday. Profit growth slowed from the 36.4 percent increase seen in May, according to the National Bureau of Statistics.
Over 60 companies, including IndiGo, IndusInd Bank, DRL will be releasing their results today: Dr Reddy's Laboratories, IndusInd Bank, InterGlobe Aviation, Canara Bank, Aarti Drugs, Ansal Housing, The Anup Engineering, Apar Industries, Arihant Capital Markets, Bhageria Industries, BLS Internatioanl Services, Confidence Petroleum India, Dalmia Bharat, Dixon Technologies, EIH Associated Hotels, Elantas Beck India, Filatex India, GM Breweries, Godawari Power & Ispat, Granules india, Greenlam Industries, Hindustan Fluorocarbons, IIFL Finance, Karnataka Bank, Lux Industries, Mahindra Logistics, Mirza International, Ramco Cements, Sanofi India, Sharda Cropchem, Shemaroo Entertainment, Snowman Logistics, Torrent Pharmaceuticals, TTK Prestige, UCO Bank and VST Industries will release quarterly earnings today.
Fuel prices remain unchanged
Petrol and diesel prices remained unchanged for the tenth consecutive day across the four metros on Tuesday. With no change in prices on Tuesday, petrol continues to be sold in the national capital for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre.
In Mumbai, where petrol prices crossed Rs 100-mark for the first time ever on May 29, the fuel price is at Rs 107.83 per litre. Diesel price in the city is also at Rs 97.45, the highest among metros.
In Chennai, petrol is priced at Rs 102.49 per litre while the price of diesel is Rs 94.39 per litre. The price of petrol in Kolkata is Rs 102.08 per litre while diesel is sold at Rs 93.02 per litre.
Petrol and diesel prices have been static since July 18. It last increased on July 17 with petrol being revised upwards by 30 paisa per litre, while diesel prices remained unchanged.
International oil benchmark Brent crude advanced 0.41 per cent to $74 per barrel
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