Which major companies are scheduled to announce their quarterly results in the coming days?

Reliance Industries, HDFC Bank, ICICI Bank, Infosys, Dr Reddy's Laboratories, Bajaj Finance, Nestle India, and Cipla are among the key companies set to announce their earnings in the coming days.

How have the broader markets performed compared to the Nifty?

The broader markets, including the Nifty Midcap 100 and Nifty Smallcap 100, have mirrored the benchmark's weakness, with both indices declining in the past week.

Home / Business and Economy / Nifty Slides Below 24,900, Analysts Warn of Further Weakness

Nifty Slides Below 24,900, Analysts Warn of Further Weakness

20 Jul

•

Summary

Nifty closed 0.57% lower on Friday, marking its third consecutive weekly decline
Analysts say a slide below 24,900 could lead to further weakness towards 24,500
Upcoming earnings from major companies like Reliance, HDFC Bank, and ICICI Bank will be closely watched

Nifty Slides Below 24,900, Analysts Warn of Further Weakness

In the past week, the Nifty index has faced consistent selling pressure, marking its third consecutive weekly decline. On Friday, the index closed 0.57% lower at 24,968, slipping towards the 24,900 level where it found initial support.

According to analysts, the underlying trend of the Nifty remains weak, and a slide below 24,900 could open the door to further weakness towards 24,500 in the coming week. Any pullback rally from current levels is likely to face strong resistance near 25,250.

The broader markets mirrored the benchmark's weakness, with the Nifty Midcap 100 and Nifty Smallcap 100 also declining. Among sectoral indices, Media, Metal, and IT managed to end in the green, while Private Banks, Consumer Durables, and Financial Services saw steep declines.

Investors are now eagerly awaiting the upcoming earnings season, with a flurry of major results lined up. The market is set to react to earnings from Reliance Industries, HDFC Bank, and ICICI Bank in early trade on Monday. In the sessions that follow, several other key companies, including Infosys, Dr Reddy's Laboratories, Bajaj Finance, Nestle India, and Cipla, are scheduled to announce their quarterly results.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.