Global market continue to fall! Turbulence ahead!

Good morning everyone, It's time to trade cautiously as we are now entering a rough patch and we can get really good turbulence now, you will know why as you read below.

Global Markets:

US markets had one of their major falls since mid-May and similar actions were seen in the European markets as well due to the rise in the number of delta variants of the Corona in the UK & US. Investors fear another shutdown and feel that the growth of the economy can be hampered. The Dow Jones Industrial Average fell 725.81 points, or 2.09%, to 33,962.04, the S&P 500 lost 68.67 points, or 1.59%, to 4,258.49 and the Nasdaq Composite dropped 152.25 points, or 1.06%, to 14,274.98.

In Japan, the Nikkei 225 slipped 0.63% while the Topix index fell 0.79%. South Korea’s Kospi declined 0.31%.

Indian Market:

Trends on the SGX nifty indicate a muted fall in Nifty by about 25 points and may open at about 15720-15740. We need to watch out if the market falls below the 700 levels, we will continue to see the fall till about 15600 to 15550 levels.

We are in a mixed position right now and may not fall as much as the US market because Nifty did not move up as much as the continuous record highs created in the US market in the last few weeks. Moreover, This is the season of quarterly results, that can help support the market.

One major result that can influence the Nifty now is the Reliance result on Friday after market hours, the effect of which will be seen only next Monday.

However, since we see that DIIs are still positive about Nifty as we could see them buying huge even yesterday can give us confidence that markets may not fall too much. However, we need to wait and watch.

Results Today

Bajaj Finance, Asian Paints, Arihant Superstructures, CRISIL, DCM Shriram, ICICI Prudential Life Insurance Company, ICICI Securities, India Tourism Development Corporation, JSW Ispat Special Products, Jubilant Ingrevia, Kohinoor Foods, Mangalam Organics, Moschip Technologies, Newgen Software Technologies, Reliance Industrial Infrastructure, Rane (Madras), Shyam Metalics and Energy, and Syngene International will release quarterly earnings on July 20.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 2,198.71 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,047.66 crore in the Indian equity market on July 19

Stock Specific News:

HCL Technologies | The company’s Q1FY22 consolidated net profit rose to Rs 3,214 crore from Rs 2,962 crore and revenue increased to Rs 20,068 crore from Rs 19,642 crore, QoQ. The company maintained FY22 constant currency revenue growth guidance of double digits and EBIT margin guidance of 19-21 percent.

ACC | The company reported a sharply higher profit at Rs 533.8 crore in Q2CY21 against Rs 268 crore in Q2CY20. Revenue jumped 49.4 percent to Rs 3,884.8 crore from Rs 2,600.8 crore YoY.

Adani Group Stocks | The company has clarified saying it has not received any communication or information requests recently from the Securities and Exchange Board of India (SEBI) and the Directorate of Revenue Intelligence (DRI) show-cause notice was issued five years back.

LIC Housing Finance | The company has approached the Securities Appellate Tribunal (SAT) with regard to its proposal of allotting over 4.5 crore preferential shares to the parent company LIC.

Jindal Stainless | Tata Steel Mining and Jindal Stainless signed MoU for a unique partnership for mining of common boundary in Sukinda, Odisha.

Zen Technologies | The company secured an export order of Rs 120 crore.

Zuari Agro Chemicals | The company's NPK B plant in Goa has resumed its operations.

Mastek | The company’s Q1FY22 net profit fell to Rs 15.49 crore from Rs 36.81 crore, while revenue jumped to Rs 516.47 crore from Rs 386.06 crore, YoY.

CreditAccess Grameen | The company has raised $25 million (about Rs 187 crore) debt from Swedfund International, the Swedish development finance institution, through the external commercial borrowing route.

Reliance Infrastructure | The company has raised Rs 550.56 crore through the issuance of securities on a preferential basis to promoter group and Varde Investment Partners, LP. Post allotment, the holding of the promoter group in Reliance Infra would increase to 22.06 percent upon full conversion of warrants.

Nippon Life India Asset Management | The company’s Q1FY22 consolidated profit rose to Rs 181.54 crore from Rs 156.30 crore and revenue jumped to Rs 302.27 crore from Rs 233.12 crore, YoY.

Dhanlaxmi Bank | The bank announced a strategic alliance with SMC Global Securities for offering online trading services to customers.