Strong global markets, 3 Nifty Q1 results, including Bajaj Auto—TRIGGERS for INVESTORS to watch out today

Ahead of the market open today, what investors should be focused on, as global markets report strong performance, while Nifty heavyweight Bajaj Finance posts weak first-quarter results.

US markets strike back with 800 points rally in the last two days as Dow Jones reclaims 34800-mark, while Nasdaq surged over 200 points on Wednesday.

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Similarly, a key indicator to Nifty50, SGX Nifty trading above 15,700 levels, while Dow Futures trading marginally higher at around 7:30 AM on Wednesday. Japan’s Nikkei to be closed today.

In the commodities section, Brent crude surges beyond over $72 per barrel, Gold above $1800 and Silver was trading flat at $25.

In terms of Q1 results, Bajaj Finserve’s profit declined by 31.5 per cent amid the second wave of coronavirus, while mid-cap companies such as Havells and Jubilant Foods reported strong numbers.

Three Nifty50 companies — UltraTech Cement, Bajaj Auto, HUL — are scheduled to release their first-quarter results of the financial year 2021-2022. While the other mid and small companies such as Biocon, Mphasis and ICICI Lombard will also come out with their Q1 numbers today.

In an attempt to meet its divestment target, the central government mulling to offload its 7.93 per cent stake in ITC Ltd through the Special Undertaking of the Unit Trust of India (SUUTI).

Meanwhile, the Reserve Bank of India has allowed IDFC to exit as the promoter of IDFC FIRST Bank after the expiry of the lock-in period of five years. IDFC holds 36.56 per cent in IDFC First Bank.

A specialty chemical making company Tatva Chintan Pharma Chem’s initial public offering closed on Tuesday. The company garnered 180 times subscription with bids for 588 million shares as against 3.26 million shares offered.

In a weather update, the Indian Meteorological Department has issued a Red Alert for Mumbai, it expects heavy showers in Mumbai metropolitan region today and tomorrow.