15 Jul 2024 | 11:38:33 AM IST
Sensex Today | Stock Market LIVE Updates | The Indian blue-chip equity index Nifty50 opened at a fresh all-time high on Monday, propelled by gains in IT stocks amid optimism about demand recovery and anticipation of a U.S. interest rate cut in September.
Earnings Today
Shares of HDFC Life, Jio Financial, HDFC AMC, Angel One and SpiceJet will be in focus as the companies will announce their first quarter results today.
Market View by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
The global support for the market rally in India continues. It is important to understand that the US is leading this rally with 18.4% returns YTD in S&P 500 compared with 12.7% YTD returns in Nifty. Latest inflation data in the US indicates a rate cut by the Fed in September.
This is likely to keep the US market buoyant with positive impact in India, too. However, valuations in India are moving to elevated levels. Investors have to be cautious about the excessive valuations in the momentum stocks which are moving to frothy levels.
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Deepinder Goyal becomes India’s newest billionaire after Zomato’s multibagger rally
Zomato Co-founder and CEO Deepinder Goyal, who left an MNC job to start the food delivery platform in 2008, has now joined the growing but elite club of billionaires in India.
The surge in the entrepreneur’s net worth comes on the back of a 4.2% stake he owns in Zomato, the shares of which have grown over 300% in just 2 years.
The assassin attempt on Trump will have a near-term positive impact on safe assets like gold and dollars. For the medium term, this reinforces Trump’s chances of victory in the November elections and therefore, the ‘Trump trade’ is likely to gather momentum on expectations of rate cuts and liberalisation of the regulatory framework. However, if Trump wins the elections and imposes hefty tariffs on imports from China, it is likely to trigger a trade war with China which has the potential to impact global trade and global growth.
– Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Sensex Today | Stock Market LIVE Updates | Mishtann Foods Q1 Results: Revenue jumps 30% YoY
Sensex Today | Tyre stocks trading higher
Price as on 10.59.30 AM, Click on company names for their live prices.
Sensex Today | Ashok Leyland bags order worth Rs 981 crore from Maharashta State Transport Corp
Price as on 10.58.44 AM, Click on company names for their live prices.
Stock Market LIVE Updates | EARNINGS TODAY: HDFC Life, Jio Financial, HDFC AMC, Angel One, SpiceJet
Here’s how these stocks are faring ahead of earnings.
Price as on 10.10.22 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Nifty IT rises over 1%; check out the top gainers
Price as on 09.57.49 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Earnings impact: IREDA soars 9% post Q1 show
IREDA shares rose over 9% after the firm reported a net profit of Rs 384 crore for the quarter ended June 2024, which was a 30% uptick year-on-year.
Price as on 09.56.24 AM, Click on company names for their live prices.
Sensex Today | SECTORAL WATCH | Nifty IT hits 52-week high
Sensex Today | Stock Market LIVE Updates | Platform fee hike impact
Food delivery major Zomato reportedly increased their platform fees to Rs 6 in markets like Bengaluru and Delhi. This marks an increase of 20% from the Rs 5 that the two platforms are presently charging in these markets.
Price as on 09.26.41 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Q1 Earnings Impact
Price as on 09.25.21 AM, Click on company names for their live prices.
FOREX NEWS: Rupee falls in early trade
Rupee falls 4 paise to 83.55 against US dollar
Sensex Today | Stock Market LIVE Updates | RVNL, Ircon among most active stocks in morning trade
Price as on 09.22.09 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Opening Bell
Sensex rises 200 pts, Nifty above 24,550; IREDA rallies 7%, HCLTech 4%
Stock Market LIVE Updates | Q1 results today: Jio Financial, SpiceJet, HDFC Life among 36 companies announce earnings on Monday
This week marks the commencement of the first-quarter earnings season, with several prominent companies scheduled to announce their financial results. On Monday, HDFC Life, Jio Financial, HDFC AMC, Angel One, SpiceJet, and 31 other companies are slated to release their earnings reports.
The global support for the market rally in India continues. It is important to understand that the US is leading this rally with 18.4% returns YTD in S&P 500 compared with 12.7% YTD returns in Nifty. Latest inflation data in the US indicates a rate cut by the Fed in September. This is likely to keep the US market buoyant with positive impact in India, too. However, valuations in India are moving to elevated levels. Investors have to be cautious about the excessive valuations in the momentum stocks which are moving to frothy levels.IT results from TCS and HCL Tech indicate improving prospects which the market is discounting now. But the growth projections of IT companies remain low and, therefore, a sharp restart from the present levels is unlikely. Financials remain the fairly valued segment of the market. Decline in US 10-year bond yield is positive for FII inflows.
– V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Sensex Today | Stock Market LIVE Updates: Sensex jumps 100 points; Nifty above 24,550 in pre-open trade
Stock Market LIVE Updates | Stocks in news: HCL Tech, DMart, Jio Financial, HDFC Life, Kotak Bank
Domestic markets witnessed one of the strongest performances of 2024, with the Nifty and Sensex achieving record highs by the end of last week. In today’s trading session, attention will be on stocks such as HCL Tech, DMart, Jio Financial, HDFC Life, and Kotak Bank, driven by recent news developments and the release of first-quarter results.
Nomura on HCL Tech: Buy | Target price: Rs 1,720
Nomura has maintained a buy call on HCL Tech and hiked the target price to Rs 1,720 from Rs 1,700.Q1FY25 was a slight beat to estimates. GenAl impact is likely to vary across service lines and the company is on track to achieve FY25F revenue growth guidance.
Sensex Today | Stock Market LIVE Updates | JPMorgan on Avenue Supermarts: Overweight | Target price: Rs 5,400
The global brokerage has maintained an overweight call on Avenue Supermarts with a target price of Rs 5,400.The company delivered a robust revenue growth delivery with an encouraging mix bodes well for gross margin trajectory. Best growth engine amongst discretionary names, which should support premium valuations.
Stock Market LIVE Updates | BofA on Avenue Supermarts: Buy | Target price: Rs 5,465
Bank of America has maintained a buy with a target price of Rs 5,465.Q1FY25 was a stable quarter, and improving G&A contribution was positive. The business momentum is likely to remain healthy and efforts on increasing store footprint across core states of Maharashtra/Gujarat as well as other markets can be seen.
Stock Market LIVE Updates | Tech View: Nifty looks strong to move up to 24,780 and 24,965
According to analysts, the majority of technical charts indicate no signs of price or indicator divergence or reversal. This suggests that the Nifty’s gradual upward momentum is likely to continue, potentially reaching 24,780 first, followed by 24,965 in the upcoming weeks.
Stock Market LIVE Updates: Banks, financial companies among MFs’ top picks, some exit PSUs
In June, mutual fund managers increased investments in specific companies spanning sectors like banking, financial services, and insurance (BFSI), auto and auto ancillaries, as well as IT. HDFC Bank emerged as one of the favored choices among equity schemes.
Stock Market LIVE Updates: Treasuries slip, dollar firm as markets grapple with US politics
On Monday, U.S. bond futures declined and the dollar strengthened as investors speculated that the attack on U.S. presidential candidate Donald Trump increased his chances of victory, introducing heightened political uncertainty into the markets.
Stock Market LIVE Updates: Haven rush ‘Trump trades’ back on investor minds
According to market watchers, investors are expected to initially favor traditional safe-haven assets and possibly increase their investments in trades closely associated with the likelihood of former President Donald Trump winning the White House, following his survival of an assassination attempt.
Stock Market LIVE Updates: GIFT Nifty signals a positive start for D-Street. Here’s the trading setup for today’s session
Domestic markets extended their gains for the sixth consecutive week, buoyed by strong earnings reported by IT companies. Investors will closely watch first-quarter earnings this week, with several major companies such as Infosys, Reliance, and Kotak Mahindra Bank set to announce their results, which will be a focal point.
Australian shares hit record high as banks and miners gain
Australian stocks rose to an all-time high on Monday, helped by gains in index heavyweights banks and miners, while New Zealand shares inched lower ahead of second-quarter inflation data due later this week.
The S&P/ASX 200 index was up 0.9% at 8,028.1, as of 0031 GMT, after rising to a record high of 8,031.7 earlier in the session. The benchmark had closed 0.9% higher on Friday.
Stock Market LIVE Updates | Stocks in news: HCL Tech, DMart, Jio Financial, HDFC Life, Kotak Bank
Domestic markets experienced one of the best weeks in 2024 with Nifty and Sensex extending closing at record highs last week. In today’s trade, shares of HCL Tech, DMart, Jio Financial, HDFC Life, Kotak Bank among others will be in focus due to news developments and first quarter results.
Stock Market LIVE Updates | Treasuries slip, dollar firm as markets grapple with US politics
U.S. bond futures slipped and the dollar firmed on Monday as investors wagered the attack on U.S. presidential candidate Donald Trump made his victory more likely, while injecting a whole new level of political uncertainty into markets.
A holiday in Japan made for thin trading conditions and the early action was confined to a modest rise in the dollar while Treasury futures slipped.
Stock Market LIVE Updates | Oil extends losses as dollar strengthens following Trump attack
Oil prices fell for a second day on Monday as the dollar gained ground amid political uncertainty in the U.S. following an attack on U.S. presidential candidate Donald Trump while investors eyed the progress of talks for a Gaza ceasefire.
Brent crude futures fell 55 cents, or 0.7%, to $84.48 a barrel by 0109 GMT after settling down 37 cents on Friday.
Stock Market LIVE Updates | Dollar sees safe-haven gains; sliding yen stays on intervention watch
The dollar rose on safety bids on Monday in the wake of the attempted assassination of former U.S. President Donald Trump, which in turn left the yen struggling to stay afloat despite Tokyo’s suspected intervention efforts.
Trading was thinned in Asia with Japan out for a holiday, though news of the Trump shooting dominated the cautious market mood and had investors narrowing the odds of a Trump victory come November’s U.S. elections.
