Dalal Street is poised for a flat-to-positive open on Friday, with GIFT Nifty futures trading 24 points higher at 25,199 around 7:00 AM, suggesting a cautious yet optimistic tone as investors weigh a mix of domestic and global triggers.
Key Drivers for Today’s Trade
1. Q1 Earnings in Focus:
The market will react to earnings from major firms like Wipro, Axis Bank, Jio Financial, CEAT, LTIMindtree, and Tata Communications. Results are also due today from Reliance Industries, JSW Steel, Hindustan Zinc, and several others across sectors.
2. Institutional Flows:
FIIs net sold Rs 3,670.86 crore worth of equities on July 17, while DIIs absorbed some pressure with net purchases worth ₹2,717.50 crore.
3. Global Cues & US Data:
Asian markets traded mixed-to-positive, buoyed by Wall Street gains after strong US economic data. US retail sales rose 0.6 per cent in June, beating expectations. Weekly jobless claims fell unexpectedly, signalling labour market strength. Japan’s core inflation cooled to 3.3 per cent, matching estimates.
4. India-US Trade Developments:
Progress is expected on a 10–15 per cent tariff deal, which could impact sentiment across trade-exposed sectors.
5. Commodity Check:
Gold slipped 0.3 per cent to $3,337.43/oz amid a stronger dollar.
Crude oil prices firmed up, with Brent rising 1.23 per cent to $69.36/barrel on tighter supply and geopolitical risks.
6. IPO Watch:
Monika Alcobev IPO (SME) enters Day 3 of subscription.
Stocks to Watch Today:
Wipro, Axis Bank, RIL, JSW Steel, Hindustan Zinc, Jio Financial, LTIMindtree, CEAT, Tata Communications (Q1 earnings)
Reliance Power, India Cements, Mastek, Bandhan Bank, Atul, Indiamart, Aarti Drugs
Monika Alcobev IPO, tracking SME IPO sentiment
