Market Ahead Podcast, July 30: Top factors that could guide markets today

Selling resumed in Asian markets after a one-day hiatus as risks of China crackdown still loomed. Meanwhile, US futures also declined as traders weighed a possible slowdown for large tech companies after Amazon missed estimates in June quarter.

Japan's Topix index shed 1 per cent, Hong Kong Hang Seng tanked 1.4 per cent and China's Shanghai Composite index lost 0.8 per cent. At the same time Nasdaq and S&P futures were down 1.3 per cent and 0.8 per cent, respectively.

In overnight session, US stocks, however, had ended higher, boosted by robust earnings and GDP data. The Dow Jones rose 0.44 per cent, the S&P 500 gained 0.42 per cent and the Nasdaq Composite added 0.11 per cent.

Amid this backdrop, Indian markets eyed a gap-down start to the day, with SGX Nifty ruling 100 points lower at 15,739 around 7.30 am. Apart from global cues, the Street would react to the Q1 earnings and some interest is likely in the primary markets as Rolex Rings IPO closes today. The IPO has been subscribed 9.2 times so far.

Now, a look at the stock-specific triggers that are likely to guide the market today.

Over 100 companies including Bandhan Bank, Britannia, Sun Pharmaceutical Industries, UPL, Indian Oil Corporation, Macrotech Developers, Marico, Nazara Technologies and Blue Dart Express are slated to post their quarterly numbers today. Furthermore, NTPC and IDFC First are among firms that will post their Q1 numbers on Saturday.

Tech Mahindra’s Q1 FY22 net profit came in at Rs 1,353 crore, up 39.2 per cenr year-on-year (YoY) 25 per cent sequentially. Broad-based growth across segments and verticals allowed the company to deliver strong numbers.  Revenue for the quarter grew 12 per cent YoY at Rs 10,198 crore. It was up 4.8 per cent sequentially.

TVS Motor Company reported a consolidated net loss of Rs 15 crore for the first quarter ended June 30. The company had reported a net loss of Rs 183 crore in the April-June quarter of the 2020-21 financial year.

State-owned Container Corporation of India (Concor) reported a 409.67 per cent YoY surge in consolidated net profit to Rs 251.22 crore for the first quarter ended June 30. The company had clocked a net profit of Rs 49.29 crore in the year-ago period.

Ashish Kacholia increased stake in polyester films exporter Garware Hi-Tech Films, buying 1,41,871 equity shares at Rs 1,005 per share on the BSE, as per the latest bulk deals data. Kacholia held a 2.58 percent equity stake in the company as of June 2021.