Stock Market recovered its losses registered on Tuesday with Nifty gaining 192 points or 1.2% for the day. Gains were largely led by Infosys, ICICI Bank and Reliance Industries. The Nifty Metal index gained 3% and was the top sectoral gainer. For today’s trade, Q1FY22 results of Reliance Industries will be in focus. In addition, Zomato will list its shares on exchanges today after its initial public offering (IPO) received a robust 38.25 times subscription. The SGX Nifty is indicating a flat to positive opening of 10 points.
U.S. stocks gained for the third day in a row, as investors focus on earnings as lacklustre economic data and mixed corporate earnings prompted a pivot back to growth stocks. Tech shares led U.S. stocks higher Thursday, despite an unexpected jump in jobless claims that resurfaced some concerns about the economy and sent bond yields lower. The Dow Jones rose 25.35 points, or 0.07%, to close at 34,823.35, the S&P 500 gained 8.79 points, or 0.20%, to end the day at 4,367.48 and the Nasdaq Composite added 52.64 points, or 0.36%, to close at 14,684.60. Meanwhile, shares in Asia-Pacific were lower in Friday morning trade as investors monitor Chinese tech stocks in Hong Kong after regulatory concerns resurfaced. Oil prices slipped in Asia trade after gaining as much as 2% overnight.
Stocks in focus
Telecom companies in focus– SC to pronounce judgement on Airtel, Voda-Idea plea seeking re-computation of AGR dues today.
Biocon reports below estimates Q1FY22 results. Revenue declined led by generics, down 22% YoY, Biologics business up 10% YoY and 14% QoQ.
Wipro launched FieldX, a cloud-based end-to-end digital service lifecycle automation solution built on ServiceNow’s Now Platform.
Hero MotoCorp launched an updated version of its Maestro Edge 125 scooter model with prices starting from Rs 72,250.
Mahindra Lifespace Developers board will consider the proposal for the issuance of bonus equity shares, subject to requisite approvals.
India Energy Exchange– The company’s Q1FY22 consolidated net profit rose 49.2% to Rs 62.8 crore from Rs 42.1 crore, while revenue increased 34.1% to Rs 91 crore from Rs 67.9 crore, YoY.
Earnings Today– Reliance Industries, Ambuja Cements, JSW Steel, Federal Bank, United Spirits, Yes Bank, SBI Cards
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