Nifty hovers at 15,850 level; breadth negative

Benchmark indices traded sideways with small gains in early afternoon trade. At 12:26 IST, the barometer index, the S&P BSE Sensex, was up 110.9 points or 0.21% at 52,948.76. The Nifty 50 index was up 26.30 points or 0.17% at 15,850.45.

In broader market, the S&P BSE Mid-Cap index was up 0.03% while the S&P BSE Small-Cap index gained 0.12%.

The market breadth was negative. On the BSE, 1504 shares rose and 1594 shares fell. A total of 126 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 192,531,709 with 4,135,259 global deaths.

India reported 405,513 active cases of COVID-19 infection and 419,470 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, declined 1.91% to 11.6575. The Nifty 29 July 2021 futures were trading at 15,835.55, at a discount of 17.15 points as compared with the spot at 15,852.7.

The Nifty option chain for 29 July 2021 expiry showed maximum Call OI of 56.8 lakh contracts at the 16,000 strike price. Maximum Put OI of 54.7 lakh contracts was seen at 15,800 strike price.

Earnings Impact:

Persistent Systems jumped 4.78% to Rs 2,964.30 after the IT firm reported a 9.79% jump in consolidated net profit to Rs 151.24 crore in Q1 June 2021 (Q1 FY22) over Rs 137.75 crore in Q4 March 2021 (Q4 FY21). Consolidated revenue from operations grew 10.47% to Rs 1,229.92 crore in Q1 June 2021 from Rs 1,113.35 crore in Q4 March 2021. Profit before tax climbed 9.83% to Rs 203.05 crore in Q1 FY22 as against Rs 184.87 crore in Q4 FY21. The Q1 result was declared post market hours yesterday, 22 July 2021. Consolidated EBITDA soared 7% Q-o-Q (quarter-on-quarter) and 37.6% Y-o-Y (year-on-year) to Rs 201.52 crore, with margins at 16.4% during the quarter. The order booking for the quarter ended on 30 June 2021 stood at $244.8 million in Total Contract Value (TCV) and at $188.83 million in Annual Contract Value (ACV).

Can Fin Homes fell 1.29%. The housing finance company posted a 16.84% jump in standalone net profit to Rs 108.84 crore on a 13.71% rise in total income from operations to Rs 450.84 crore in Q1 FY22 over Q1 FY21 Standalone profit before tax climbed 15.83% to Rs 146 crore in Q1 FY22 as against Rs 126.04 crore in Q1 FY21. New Approvals surged 214.01% to Rs 829 crore in Q1 FY22 as against Rs 264 crore in Q1 FY21. Disbursements soared 122.94% to Rs 894 crore in Q1 FY22 as against Rs 401 crore in Q1 FY21. Outstanding loan book rose 6.61% to Rs 22,221 crore in Q1 FY22 as against Rs 20,843 crore in Q1 FY21.

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