Nifty’s heavyweight Bajaj Finance is performing poorly in the first quarter, while the global market is reporting good performance, so what should investors look for ahead of the market opening today?
As the Dow Jones regained the 34800 mark, the US market counterattacked with a 800-point rise over the past two days, and the Nasdaq surged more than 200 points on Wednesday.
Similarly, SGX Nifty, a key indicator of the Nifty 50, is trading above the 15,700 level, while Dow Futures is trading slightly higher around 7:30 am on Wednesday. Nikkei in Japan will be closed today.
In the commodities sector, Brent crude oil was trading above $ 72 a barrel, gold was above $ 1800 and silver was trading flat at $ 25.
In the first quarter results, Bajaj Finserve’s profits fell by 31.5% during the second wave of coronavirus, but mid-sized companies such as Havels and Jubilanto Foods reported strong numbers.
Three Nifty50 companies, UltraTech Cement, Bajaj Auto and HUL, will announce their first quarter results for the 2021-2022 fiscal year. Other small businesses such as Biocon, Mphasis and ICICI Lombard are also releasing their first quarter figures today.
The central government is considering offloading a 7.93% stake in ITC Ltd through a special business of India’s Unit Trust (SUUTI) to reach its sale target.
Meanwhile, the Reserve Bank of India has allowed IDFC to withdraw as a promoter of IDFC FIRST Bank after the expiration of the five-year lock-in period. IDFC owns 36.56% of IDFC First Bank.
The initial public offering of Tatva Chintan Pharma Chem, a specialty chemicals manufacturer, ended Tuesday. The company won 180 subscriptions with a bid of 588 million shares for the 3.26 million shares offered.
With the latest weather information, the Indian Meteorological Department has issued a red alert to Mumbai. We expect heavy showers today and tomorrow in the Mumbai metropolitan area.
Three nifty first-quarter results, including strong global market, Bajaj Auto — Triggers for Investors to Watch Today
Source link Three nifty first-quarter results, including strong global market, Bajaj Auto — Triggers for Investors to Watch Today