Sensex Today: Stock Market LIVE Updates: Sensex reverses losses, rises over 50 points; Nifty tests 15,750; metal index bleeds 2% – JulieSimba
Sensex Today: Stock Market LIVE Updates: Sensex reverses losses, rises over 50 points;  Nifty tests 15,750;  metal index bleeds 2%

Sensex Today: Stock Market LIVE Updates: Sensex reverses losses, rises over 50 points; Nifty tests 15,750; metal index bleeds 2%

Sensex Today Live: Indian shares began the week on a tipid note on Monday, dragged by metal stocks due to demand worries and weaker sentiment in global markets. The Nifty metals index fell 1.2% as iron ore and steel prices tumbled on fears of a slump in demand for commodities. Meanwhile, Asian share markets started cautiously on Monday as a run of soft US data suggested downside risks for this week’s June payrolls report, while the hubbub over possible recession was still driving a relief rally in government bonds.

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Bajaj Auto begins Rs 2,500 cr share buyback

Bajaj Auto on Monday said it has commenced its Rs 2,500 share buyback programme. In a regulatory filing, the Pune-based company said the buyback initiative has begun with effect from July 4. The company’s board, at its meeting held on June 27, had approved the proposal for buyback of the fully paid-up equity shares of the company with a face value of Rs 10 each from existing shareholders, except promoters and promoter group, from the open market.

Energy shares boost European equities ahead of inflation data

  • European shares rose on Monday, led by shares of oil and gas companies, with investors awaiting eurozone inflation data after a red-hot consumer price report last week cemented the case for rate hike by the European Central Bank (ECB).

  • The continent-wide STOXX 600 index was up 0.8% by 0716 GMT, after falling last week on worries about a potential global economic slowdown.

  • A gauge of eurozone lenders fell 0.4% after a media report said the ECB would discuss blocking banks from multibillion-euro windfall profits as interest rates rise. UK energy giant BP Plc jumped 3.6% to lead gains among European oil and gas companies. They were followed by a 1.3% rise in travel and leisure companies.

Top losers on Monday

Price as on 04 Jul, 2022 01:12 PMClick on company names for their live prices.

Market LIVE Updates: Nifty FMCG index rallies; here are the top gainers from the pack

Market LIVE Updates: Nifty FMCG index rallies;  here are the top gainers from the pack

DMart rises 3% post Q1 business update; here’s what analysts say

  • Radhakishan Damani, who owns and operates retail chain DMart, saw his fortunes rising nearly Rs 4,400 crore notionally in Monday’s trade as shares of Avenue Supermarts (DMart) climbed over 3 per cent, following its June quarter business update.

  • Damani owned roughly 65.2 per cent stake in DMart as of March 31, as per Trendlyne, which was valued at Rs 1.47 lakh crore as of Monday’s intraday price compared with Rs 1.43 lakh crore as of Friday, up Rs 4,373 crore.

  • During the session, the scrip rose 3.13 per cent to Rs 3,493 on BSE. This is even as the brokerages were mixed on the business update.

Market LIVE Updates: Top 5 gainers at this hour

Price as on 04 Jul, 2022 12:28 PMClick on company names for their live prices.

Several banks have announced their provisional numbers for loan growth and deposit growth. Take a look

IndusInd Bank shares rally over 3% on strong Q1 business update

IndusInd Bank shares rose by over 3 per cent in Monday’s trading session after the bank reported strong business performance for the first quarter of the financial year 2021-2022. In this year’s initial quarter, IndusInd Bank’s total deposits jumped by 13 per cent to Rs 3,03,094 crore, as against Rs 2,67,630 crore from the previous year. The company’s net advances rose by 18 per cent to Rs 2,49,541 crore from Rs 2,10,727 crore in the previous year.

Ultratech Cement offered redemption of preference shares allotted to Jaiprakash Associates (JAL), after adjustment of costs to be borne by JAL, in compliance with the transaction arrangements. The Company is expecting JAL to honor its obligations and execute necessary documentation for the redemption.

Price as on 04 Jul, 2022 11:38 AMClick on company names for their live prices.

State-run power giant NTPC Ltd on Monday said it has registered a 21.7 per cent growth in electricity generation at 104.4 billion units (BU) in the April-June quarter of this financial year.

Price as on 04 Jul, 2022 11:08 AMClick on company names for their live prices.

Adani Enterprises has emerged as the lowest bidder in Coal India’s first coal import tender floated on behalf of power generation companies, people aware of the details said.

Price as on 04 Jul, 2022 10:59 AMClick on company names for their live prices.

India to drop windfall tax if oil prices fall $40 a barrel

India will only withdraw its windfall tax introduced last week for oil producers and refiners if global prices of crude fall as much as $40 a barrel from present levels, Revenue Secretary Tarun Bajaj told Reuters on Monday. The tax on firms that have increased product exports to gain from higher overseas margins took effect on July 1, as the government moves to boost domestic supply and revenue.

Market LIVE Updates: Metal stocks fall up to 6%

Price as on 04 Jul, 2022 10:35 AMClick on company names for their live prices.

Technology Preview: Q1 dragged by margin and cross currency headwinds, says MOSL

  • Our IT Services coverage universe should witness modest median USD revenue growth in 1QFY23E (up 3.3% CC QoQ and 14.3% YoY). EBIT/PAT growth (-1.0%/ -2.8% QoQ) should see further pressure due to wage hikes and continued supply side pressure despite depreciation in INR against USD.

  • We would be watchful for any moderation in demand commentary. We expect initial signs of impact in sectors like Retail and Manufacturing in Q1. Reported USD growth will be hit by 1-2% due to the significant appreciation in EUR/GPB against USD during Q1.

  • While the long term demand environment remains unaltered, we anticipate impact in H2FY23 and FY24 due to elevated inflation and slowdown in macro- economic growth in both US and Europe and are trimming our FY23/24 INR EPS numbers by 2-5% despite 300 400bps positive impact from lower INR (79/USD).

STOCK IN FOCUS: ADANI PORTS

STOCK IN FOCUS: ADANI PORTS

HDFC Bank Q1 update

  • Advances rise 21% YoY to Rs 13.95 lakh crore
  • Deposits rise 19% YoY to Rs 16.05 lakh crore

Market movements this month are likely to be significantly influenced by the Q1 results starting with TCS’s results on 8th July. More than the actual numbers, the market will be focused on the guidance. Similarly, in financials particularly banking, the market will be keen to know the trends in credit growth rather than the decline in treasury income, which is already known. The buoyancy in GST collections and June auto numbers indicate that economic recovery is gaining momentum, in spite of many headwinds, and this bodes well for the market’s performance in H2 FY23.In the present context of high near-term uncertainty, the best strategy for Investors would be to buy high-quality large-caps in a calibrated manner and wait with patience.

– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

ONGC, IDFC First, Voda Idea among most active stocks on NSE

Price as on 04 Jul, 2022 09:24 AMClick on company names for their live prices.

OPENING BELL: Sensex gains 100 points, Nifty nears 15,800; DMart jumps 4%, ONGC drops 3%

OPENING BELL: Sensex gains 100 points, Nifty nears 15,800;  DMart jumps 4%, ONGC drops 3%

Tokyo stocks open higher extending US gains

Tokyo stocks opened higher on Monday as investors took heart from gains on Wall Street while staying cautious over the economic benchmarks of inflation. The Nikkei 225 index was up 0.71 percent, or 184.45 points, at 26,120.07 in early trade, while the broader Topix index was up 0.97 percent, or 17.92 points, at 1,862.96.

Asian shares cautious as Wall Street futures slip

Asian share markets started cautiously on Monday as a run of soft US data suggested downside risks for this week’s June payrolls report, while the hubbub over possible recession was still driving a relief rally in government bonds. The search for safety kept the US dollar near 20-year highs, though early action was light with US markets on holiday.

SGX Nifty signals a muted start

Nifty futures on the Singapore Exchange traded 28 points, or 0.18 per cent, lower at 15,716.50, signaling that Dalal Street was headed for a muted start on Monday.

Q4 results today

Marshall Machines, Trade-Wings, Aroma Enterprises, Mewat Zinc and Eastern Sugar & Industries are among companies which will announce their quarterly earnings today.

Tech View: Nifty50 stays in consolidation range; 15,900 a hurdle

Nifty50 on Friday formed a Hammer-like candle on the daily chart. On the weekly scale, it made a bearish candle with a long lower wick. Analysts said the index is in a consolidation range, wherein it has strong support in the 15,500-15,600 range and hurdle in the 15,900-950 range. A decisive breach on either side can set the market trend going ahead, they said.

Oil prices slip as recession fears rumble on

Oil prices fell in early Asian trade on Monday, paring gains from the previous session as fears of global recession weighed on the market even as supply remains tight amid lower OPEC output, unrest in Libya and sanctions on Russia. Brent crude futures slipped 35 cents, or 0.3%, to $111.28 a barrel at 0016 GMT, having jumped 2.4% on Friday.

Wall Street ends first day of third quarter with solid rebound

Wall Street bounced back to a sharply higher close in light trading on Friday as investors embarked on the second half of the year ahead of the long holiday weekend.

Rupee rebounds from all-time low, rises 12 paise to 78.94/USD

Snapping its five-session losing streak, the rupee rebounded from its lifetime low to close 12 paise higher at 78.94 against the US dollar on Friday amid efforts by the government to curb gold imports and check the current account deficit.

Sensex, Nifty on Friday

After plumping nearly 900 points during the day on the back of a sharp fall in heavyweight Reliance Industries, the indices managed to trim losses, with Sensex falling 111 points or 0.21 per cent to 52,907.93. The Nifty fell 28.20 points but closed above the 15,700 mark.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader!  Here's something to kickstart your trading day

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