20th July, 2020 Morning Brief

Market will open with a gap up in continuation with Friday's last hour rally ignoring increasing count of Covid-19.

Stock markets across Asia have begun the new trading week on a mixed note as earnings season continues to gather steam.

The S&P 500 ended higher on Friday as investors weighed the prospects of more fiscal stimulus against fears of further business disruptions due to a record rise in COVID-19 cases.

The Dow Jones Industrial Average fell 0.23% to end at 26,672.36 points, while the S&P 500 gained 0.29% to 3,224.75. The Nasdaq Composite climbed 0.28% to 10,503.19.

The second tranche of Bharat Bond ETF was over-subscribed more than 3 times, collecting around Rs 10,000 crore.

🎯 News & Impact 🎯 

Major Results Today : ACC, SBI Cards

🎯 HDFCBANK : Q1 profits jumped by 19.6%. Rs 6,658.62 crore vs Rs 5,568.16 crore. YoY. Net interest income up by 17.8 % year-on-year to Rs 15,665.42. Positive for the stock. 👍

🎯 ICICI Lombard General Insurance Company Q1 : Profit stood at Rs 398.10 cr versus Rs 309.81 cr in the year-ago, revenue at Rs 2,729.67 cr versus Rs 2,664.15 cr. Positive for the stock. 👍 

🎯 Glenmark Pharma : DCGI issued notices to Glenmark seeking clarification from the company regarding false claim that its antiviral drug Fabiflu, is effective on COVID-19 patients with co-morbodities. Negative for the stock. 👍 

🎯 Vodafone Idea : Company paid additional Rs 1,000 crore gross revenue due to DoT. 

🎯 JSW Steel : Promoter Glebe Trading released a pledge on 5 lakh shares and another promoter Danta Enterprises also released pledge on 12.54 lakh shares. Positive for the stock. 

🎯 Dishtv : Pledge invoked on 1.08 crore shares. Positive for the stock. 👍 

🎯 Prakash Industries : Promoter GMK Builders created a pledge on additional 1.18 lakh shares. Negative for the stock.

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Edited by Sharp.