The market opened flat on July 23, 2020, overall volumes in futures & options currently stand at 3,23,91,894 crore contracts with a turnover of Rs. 19,98,781.81 crore.

On the liquidity front, the company’s working capital cycle has also been affected by rising inventory days from 79 in FY17 to 85 in FY18 and 91 in FY19. The company’s liquidity has been harshly affected due to lockdown measures. It has applied to the lenders for a moratorium as per the RBI package as well as to the bankers for enhancement in working capital limits.

The bulls on Dalal Street seem exhausted in the last trading session and as result Indian markets halted its five-day bull run.  As bulls managed to recoup some of the losses in the last leg of trade, the correction was not too acute. But the signs of exhaustion were clearly visible. The Nifty faced its real resistance around 11,200-11,230 levels.

The level of 11,050 is likely to act as an immediate support level. Any move below this level would open gates for further correction of a minimum 70-100 point. On the way down, the level of 10,863, which is 200-DMA, would act as major support. Stocks in news: Wipro, Future Consumer, Glenmark.

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The board of directors of CRISIL has approved the payment of the second interim dividend for the financial year ending December 31, 2020, of Rs 6 per equity share of the face value of Re 1 each.

The consolidated net sales reported in Q1FY21 came in at Rs 21,259.97 crore, which declined by -28.26 per cent YoY from Rs 29,635.95 crore in Q1FY20. 

The consolidated net sales reported in Q1FY21 came in at Rs 662.7 crore, which increased by 6.33 per cent YoY from Rs 623.24 crore in Q1FY20.

The cable sector is expected to take cues from results as the core fundamentals may have taken hit during the lockdown. Companies such as Finolex Cables and Universal Cables have reported 20 per cent and 10 per cent decline in sales, respectively, for the fourth quarter of the previous fiscal.

The stock has also managed to close above the upper Bollinger band and started the band walk, which is a very bullish sign. Interestingly, the daily RSI has given downward sloping trendline breakout, which is also bullish.