Indian equity markets are expected to open on a positive note on Tuesday, supported by improved global sentiment following reports that US President Donald Trump has halted attacks on Iran and renewed talks. Early market indicators also pointed to gains, with GIFT Nifty signalling a firm opening for domestic equities.
According to early indications, GIFT Nifty was trading around 23,930, up about 102 points or 0.43% on Monday. The improvement in global market sentiment amid easing tensions between the United States and Iran was reflected in India's pre-open market indicators.
Despite the positive opening signals, technical indicators suggest that the Nifty 50 remains below the 24,000 level. According to market experts, the index's short-term trend continues to remain weak below 24,000, with key support levels seen around 23,600 and 23,500. As a result, investors are expected to closely monitor market direction while remaining focused on quarterly earnings and corporate developments.
Several major companies are scheduled to announce their first-quarter results today, including Coal India, Bharat Electronics (BEL), Tata Power, Tata Chemicals, Indus Towers, Canara Bank, Coforge, Balaji Amines, Capri Global Capital, MK Global Financial Services, Godfrey Phillips India, Gravita India, Happiest Minds Technologies, Home First Finance Company India, PNG Jewellers and RR Kabel.
Following the earnings announcements, the shares of these companies may witness significant intraday volatility. Investors are expected to track profit, revenue, margins, debt levels and forward business guidance.
NTPC reported a profit of ₹5,342.4 crore, up 11.9% from ₹4,774.7 crore in the corresponding period last year. The company's revenue increased by about 3% to ₹43,831.9 crore.
Tata Consumer Products reported a 27.8% increase in profit to ₹427 crore, while revenue rose 11.9% to ₹5,348.9 crore. The company's branded business in India recorded volume growth of 13%.
Jindal Steel reported a 43.6% decline in profit to ₹843.9 crore, although revenue increased 25.9% to ₹15,482.1 crore.
REC reported a 6.1% decline in profit to ₹4,192.8 crore. The company's net interest income also declined 3.6% to ₹5,453 crore.
Banking stocks are also expected to remain in focus following recent earnings announcements. SBI Cards reported a 19.5% increase in profit to ₹664.4 crore, while net interest income marginally declined to ₹1,676.1 crore.
Bank of Baroda reported a 71.9% decline in profit to ₹1,278.4 crore, while net interest income increased 9.5% to ₹12,525.1 crore.
Bank of India posted a 36.2% increase in profit to ₹3,067.9 crore, with net interest income rising 12.6% to ₹6,832.5 crore.
IDFC First Bank reported a 132.4% increase in profit to ₹1,075 crore, while net interest income rose 21.1% to ₹5,972.4 crore.
AU Small Finance Bank reported a 37% increase in profit to ₹796 crore, while net interest income increased 31.8% to ₹2,695.5 crore.
Waaree Renewable Technologies received two Letters of Award for EPC work related to two ground-mounted solar PV projects with a combined capacity of 800 MWac/1,082 MWp.
NBCC (India) received two work orders worth ₹20.42 crore and ₹88.43 crore from the National Horticulture Board and the Directorate of Technical Education and Training, Odisha, respectively.
The board of Sarda Metals & Alloys, a wholly owned subsidiary of Sarda Energy and Minerals, approved capital expenditure of ₹300 crore as part of the company's green initiative.
Indian equity markets are expected to remain influenced by global cues, the Nifty's technical position around the 24,000 level and the day's corporate earnings announcements.
