Indian equity benchmarks closed almost flat with positive bias
after a volatile trading session on Tuesday led by gains in IndusInd Bank, Asian
Paints shares amid weak global trends. After making a negative start, markets
erased all their losses and traded near neutral lines with positive bias in
late afternoon session, taking support from finance minister Nirmala
Sitharaman’s statement that India’s macroeconomic fundamentals are intact and
there is no risk of the economy entering into recession or stagflation.

Also Read | Why RBI would be pushed to hike interest rates

The Nifty50 has formed a small positive candle on the daily chart
with upper and lower shadows, and one may expect some correction in the short
term, according to Nagaraj Shetti, Technical Research Analyst at HDFC
Securities. “Technically, this pattern indicates the formation of a high
wave type pattern at the hurdle of 17,400,” he said.

Also Read | RBI expected to hike interest rate by 35-50 bps

Indian Indices

The Sensex rose 20.86 points, 0.04%, to 58,136.36 while the
Nifty was up by 5.40 points, 0.03%, to 17,344.45 at close of trading on Tuesday.
The Sensex moved in a high and low band of 58,328.41 and 57,744.70. There were 16
stocks advancing against 14 declining stocks on the index. The Nifty traded in
a range of 17,390.15 and 17,215.85. There were 24 stocks advancing against 26
stocks declining on the index.

Also Read | SpiceJet clears all outstanding principal dues of AAI

Broader Indices

The broader indices ended in green with the BSE mid-cap
index increasing 0.50%, while small-cap index was up by 0.34%. On the sectoral
front, Power was up by 2.00%, Utilities up by 1.81%, PSU up by 1.03%, Consumer
Discretionary up by 0.81% and FMCG up by 0.65%, while Realty down by 1.74%,
TECK down by 0.54%, IT down by 0.52%, Capital Goods down by 0.39% and Metal
down by 0.37% were the top losing indices on BSE.

Also Read | ITC shares surge 3%, hits 52-week high on 33% rise in Q1 net profit

India VIX Index

Nifty or India VIX, a gauge of the market’s expectation of
volatility over the near term, rose 5.98% to 18.53 on Tuesday.

SGX Nifty

The trends on SGX Nifty indicate a positive opening for the
index in India with a 34 points gain. The
Nifty futures were trading at 17,360.50 on the
Singaporean Exchange around 07:00 hours IST.

Also Read | All you need to know about Reliance Jio

Support and Resistance levels

The key support level for the Nifty is placed at 17,244,
followed by 17,143. If the index moves up, the key resistance levels to watch
out for are 17,418 and 17,492, according to pivot charts.

US Markets

The S&P 500 fell 27.44 points, or 0.7%, to 4,091.19.

The Dow Jones Industrial Average fell 402.23 points, or 1.2%, to 32,396.17.

The Nasdaq fell 20.22 points, or 0.2%, to 12,348.76.

The Russell 2000 index of smaller companies fell 0.86 points, or less than 0.1%, to 1,882.45.

Also Read | 5G spectrum auction concludes, Reliance Jio biggest acquirer

Asian Markets

Asian markets ended mostly lower on Tuesday. The Shanghai
Composite fell 2.26%, Nikkei 225 fell 1.42%, the Hang Seng fell 2.36% and the
KOSPI Composite fell 0.52%.

European Markets

European markets ended mostly down on Tuesday. France’s CAC
40 was down by 0.42%, Germany’s DAX was down by 0.23% and London’s FTSE 100 was
down by 0.058%.

Also Read | Week ahead: RBI MPC meet, quarterly results to weigh on Sensex, Nifty

Major News Headlines

Adani Green Energy Q1 Results: Net profit falls
2% to Rs 214 crore

The Adani Group-owned firm reported a 2.3% year-on-year
decline in consolidated profit at Rs 214 crore for the quarter ended June 2022,
impacted by lower other income and forex loss. Revenue jumped by 58%
year-on-year to Rs 1,701 crore during the reported quarter. Strong growth in
revenue and EBITDA from the power supply is backed by capacity addition,
improved solar and wind CUF, and high hybrid CUF. The consistent EBITDA margin
(flat at 92% year-on-year), is backed by the high solar, wind, and hybrid CUF
and cost efficiencies brought in through real-time centralized monitoring
through the energy network operation center.

Also Read | Week in review: Sensex, Nifty rise on FPI buying, easing commodity prices

Aurobindo Pharma’s Andhra unit get Form 483
with 3 USFDA observations

The pharma major’s API non-antibiotic manufacturing
facility in Andhra Pradesh has received a ‘Form 483’ with 3 observations, but
none of these observations is related to data integrity. The USFDA inspected
the company’s Unit XI, an API non-antibiotic facility from July 25 to August 2.
Earlier, the same Unit was classified as OAI on May 17, 2019, and subsequently
issued a warning letter dated June 20, 2019.

Also Read | Why Battlegrounds Mobile India has been taken down from Google, Apple app stores?

Voltas Q1 Results: Net profit fall 10% to Rs
109 crore, revenue up 50%

The Tata Group subsidiary reported a 10% year-on-year
decline in profit at Rs 110 crore for the quarter ended June 2022 impacted by
other income. Revenue from operations increased by 50% year-on-year to Rs 2,795
crore during the first quarter, largely driven by the unitary cooling products
segment that grew 125% year-on-year.

Paradeep Phosphates Q1 Results: Net profit grew
4.7% to Rs 62 crore

The company posted a 4.7% year-on-year increase in
consolidated net profit at Rs 62.77 crore for the quarter ended June 2022,
impacted by higher finance costs, and input costs but supported by the top
line. Revenue from operations surged 85% year-on-year to Rs 2,434.66 crore
during the reported quarter.

Also Read | HDFC Q1 results: Net profit rose 22% to Rs 3,669 crore

Bulk Deal data

Santa Ghosh bought 2,20,000 shares in Agni Green Power Limited at
Rs 26.42 per share on the Nse.

Ved Prakash Agarwal sold 1,76,270 shares in DCM Limited at Rs 51.64
per share on the Nse.

Preeti Bhauka sold 33,00,100 shares in Integra Essentia Limited at
Rs 6.06 per share on the Nse.

Nomura Singapore Limited bought 11,50,000 shares in Easy Trip
Planners Limited at Rs 399.00 per share on the Nse.

Also Read | To fight inflation, Asian economies must raise rates rapidly: IMF

Ramesh Bhandappa Munnoli bought 52,500 shares in Globe Intl
Carriers Limited at Rs 74.99 per share on the Nse.

Sunrise Infinlease Pvt Ltd sold 1,11,100 shares in Hardwyn India
Limited at Rs 197.98 per share on the Nse.

Sunflower Broking Pvt Ltd sold 89,200 shares in Kotyark Industries
Limited at Rs 243.49 per share on the Nse.

Team India Managers Ltd bought 93,927 shares in Libas Consu
Products Limited at Rs 26.49 per share on the Nse.

Arbina Maqbool Dhoki sold 5,91,549 shares in Moksh Ornaments
Limited at Rs 17.58 per share on the Nse.

Ankita Vishal Shah bought 57,82,665 shares in Vikas EcoTech Limited
at Rs 3.79 per share on the Nse.

Also Read | Recession fear grips the US after economy shrinks for 2nd quarter

DII and FII data

Foreign institutional investors (FIIs) bought
shares worth a net Rs 825.18 crore, while domestic institutional investors (DIIs) purchased shares worth a net Rs 117.79 crore on August 2, as per provisional data
available on the NSE.

NSE F&O Ban

Escorts has been placed under the F&O ban for August 3.
Securities in the ban period under the F&O segment include companies in
which the security has crossed 95% of the market-wide position limit.