Indian Indices giving traders the weekend vibes. Can traders expect a sideways market today?

Indian Indices giving traders the weekend vibes. Can traders expect a sideways market today?

The market seems to be in a calm state just like traders are on the weekends!!

It’s Friday and the last session of the Indian indices has calmed down after witnessing a highly volatile session. 

However, what’s the whole story?

Without further adieu, let’s get into it and analyze the data. 

Nifty witnesses high volatility and anticipates sideways moves. Can traders expect a calm session?

Sell Around – 19520 | Stop Loss – 19620 | Target – 19420 |

It’s the final day of the market and our analysts have been on the scene. Nifty’s last session opened the gap up and witnessed a highly volatile session. 

Ensuing this it has formed a narrow range bearish candlestick pattern. Traders can expect sideways to downward movements as well. 

Bank Nifty follows suit and gives traders a different perspective. What’s next for the market?

Sell Below – 44600 | Stop Loss – 45300 | Target – 43100 |

The last session of Bank Nifty opened the gap down and saw a highly volatile session. it has formed a bearish candlestick pattern. 

Traders can expect sideways to downward movements moving forward.

Exciting Results:

It’s Friday and several companies will be declaring their quarterly earnings today. Let’s dive in and see which companies are making the rounds today. 

Oil and Natural Gas Corporation, ABB India, Nykaa, Apollo Hospitals Enterprise, Spicejet, Cochin Shipyard, City Union Bank, Hindustan Aeronautics, Indian Railway Finance Corporation, Jindal Steel and Power, Muthoot Finance, Info Edge India, Power Finance Corporation, Raymond, Sun TV Network, Volats, etc. are some of the companies in focus releasing their quarterly earnings today. 

Trending Equity News:

Hero MotoCorp:

The biggest two-wheeler manufacturer in the nation reported a standalone profit of Rs 824.72 crore for the quarter ended June FY24, up 32% from the same quarter a year earlier despite VRS charges of Rs 160 crore. This increase was fueled by strong other income and improved operating figures. Sales volume fell by 2.6% to 13.53 lakh units over this time period, despite revenue increasing by 4.5% to Rs 8,767.3 crore.

Life Insurance Corporation of India:

For the quarter that concluded in June of FY24, the world’s largest life insurance company reported a staggering profit of Rs 9,543.7 crore, of which Rs 7,491.53 crore was related to the accrual of the available solvency margin and moved from non-par fund to shareholders account.

Apollo Tyres:

The tyre manufacturer reported a consolidated profit of Rs 396.9 crore for the quarter ended June FY24, a remarkable increase of 124% over the corresponding quarter in the prior year due to higher operating performance and lower input costs. 

Steel Authority of India:

The state-owned steel company has recorded consolidated profit at Rs 212.5 crore for the quarter ended June FY24, falling 73.6% compared to the year-ago period, impacted by tepid topline growth. Higher other income decreased input costs, and reduced tax payments all contributed to the profit.

Kirloskar Oil Engines:

The Pune-based engines, agricultural equipment, and generator sets manufacturer has recorded a profit of Rs 126 crore for the June FY24 quarter, rising 53% over a year-ago period, driven by healthy topline and operating performance.

Piramal Pharma:

BNP Paribas Arbitrage has bought 8.39 lakh shares in the pharma company via open market transactions at an average price of Rs 16.09 per share. Nevertheless, at an average price of Rs 15.65 a share, Life Insurance Corporation of India sold 16.57 lakh shares.


For the three months that concluded in June of FY24, the biopharmaceutical business reported a profit of Rs 101.4 crore, a 30% decrease from the corresponding period in FY23. However, over the same period, revenue increased by 60% to Rs 3,422.6 crore, driven by Biocon Biologics, a subsidiary, which increased by 106% to Rs 2,015 crore YoY on the acquisition of Viatris biosimilars business and expansion in market shares for products in the US and Europe. For the quarter, licensing fees totalled Rs 167.4 crore in revenue.

That’s all for today folks. We’ll be back with more exciting info soon. 

Until then, Happy Trading!!

Commodity Samachar

Learn and Trade with Ease