Sensex Today: Stock Market Live Updates: Sensex eyes 58,000, Nifty above 17,200; Metallic, Auto, Pharma Shine; FMCG, Realty, IT Drag; Nazara rallies 11%, Paytm up 5%

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Economic Times | August 01, 2022 | 11:11 AM IST

Sensex Today Live: After seeing their best month since November 2020 in the previous session, Indian stocks closed August trading on a positive note on Monday, with Yes Bank up over 5% after its decision last week The jump raised a fund of $1.1 billion.

The lender said it will sell up to 10% stake in Yes Bank Ltd shares to US private-equity firms Carlyle Group Inc and Advent International late on Friday.

The Nifty Auto sub-index, which marked its fourth monthly gain in July, rose 2% later in the day, buoyed by sales data from domestic automakers.

Agrochemicals maker UPL Ltd, a Nifty 50 constituent, on Monday climbed 0.9% on its quarterly earnings results.

Oil prices fell as weak July manufacturing data from China and Japan weighed on demand outlook, while investors prepared for this week’s meeting of officials from OPEC and other top producers on supply adjustments.

In broader Asia, equity markets opened on a sluggish start as disappointing Chinese economic data raised doubts that last week’s rally on Wall Street could be sustained on the back of policy tightening set by global central banks.

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Real estate firm Godrej Properties on Monday said it has acquired 0.5 acres of land in Mumbai to develop a luxury housing project with an estimated sale price of Rs 1,200 crore. In a regulatory filing, the company informed that it has purchased a land parcel to develop a luxury project near Carmichael Road in Mumbai. The land parcel spread over 0.5 acres was purchased from Karam Chand Thapar (KCT) Group.

Price As on August 01, 2022 11:11 AM, click on the company name for their live prices.

ATF prices are down more than 10% from peaks due to softening international oil prices. Relief for airlines?

Price August 01, 2022 At 11:01 AM, click on company name for their live prices.

ICICI Bank has increased its marginal cost-based lending rate (MCLR) by 15 basis points for all tenors. One basis point is equal to 0.01 percent. The higher interest rates will be effective from August 1, 2022. Overnight, the one-month MCLR rate has been increased from 7.50% to 7.65%. The three-month, six-month MCLR in ICICI Bank has been increased to 7.70% and 7.85% respectively. One year MCLR has been increased from 7.75% to 7.90%.

Price as on August 01, 2022 at 11:00 AM, click on company name for their live prices.

Block Deal: IDFC First Bank; 10.8 lakh shares changed hands

Prices As of Aug 01, 2022 10:53 AM Click on company name for their live prices.

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R Madhavan, Chairman and Managing Director, has ceased to be the Chairman and Managing Director of the Company on his retirement on July 31, 2022. CB Ananthakrishnan, Director (Finance) of the company has assumed the additional charge of the post of Chairman and Managing Director. Director of the Company for a period of three months with effect from 1st August, 2022 or till the post of Chairman and Managing Director of the Company becomes vacant, whichever is earlier.

Price Aug 01, 2022 at 10:47 AM, Click on company name for their live prices.

Top Gainer by Media & Multiplex Index

Price As on August 01, 2022 10:44 AM, click on the company name for their live prices.

S&P Global India builds PMI in July at 56.4, highest since Nov 21

> It was 53.9 in June

Mortgage lender HDFC increased its benchmark lending rate by 25 basis points, a move that will make loans costlier for both existing and new borrowers. The rate hike comes ahead of the RBI’s Monetary Policy Committee (MPC) meeting next week. It is widely expected that the MPC will increase interest rates to overcome high inflation.

Price Aug 01, 2022 At 10:28 AM, click on company name for their live prices.

Infosys, IRCTC among 6 stocks that could deliver strong near-term gains Days later, its flight operations remained normal and on time. Eight weeks, citing security flaws.

Price As on August 01, 2022 10:18 AM, click on the company name for their live prices.

Rupee firm at 3-week high; yield changed slightly

The Indian rupee on Monday rose to a more than three-week high as the greenback on bets the US Federal Reserve will curtail the pace of rate hikes as the world’s largest economy looks towards a possible slowdown. The partially convertible rupee was trading around 79.15 per dollar in morning trade, its strongest since July 7, as against 79.25 on Friday.

Prashant Kumar of @YesBank on a grant of Rs.8900 cr

#StocksToWatch | @YesBank’s Prashant Kumar on Rs 8900 cr fundraising – turning point for the bank – it’s ‘confid… https://t.co/NyzNAiJCPl

— ET Now (@ETNOWlive) 1659324877000The 9% rally in the Nifty in July is in sync with the 9% rally in the S&P 500. The pull back in the US and other developed markets was facilitated by strong job numbers and the resiliency of the US economy, raising hopes that the US could succeed. To avoid a downturn, or if a recession occurs, it will be light. The big positive for the Indian market is that after 9 months of continuous selling, FPIs are turning into buyers in July. A sharp decline in the dollar index from above 109 to below 106 now indicates that the dollar’s flight to safety is over. Nifty valuation is again going higher at 17150. Therefore, investors at higher levels have to be careful. After the expected uptick in the financial sector, now capital goods, auto especially PV & CV segment and select pharmaceuticals look interesting. High quality financial position will remain flexible.

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

Bajaj Auto’s overall sales stand at 3.54 lakh units vs 3.69 lakh units in the ET Now poll. The company’s total sales in June stood at 3.47 lakh units.

Price Aug 01, 2022 At 09:57 AM, click on company name for their live prices.

Stock Market Live Updates: TCS, Infosys, Mindtree Down; Wipro, Zensar up in IT index

Prices As on August 01, 2022 09:52 AM, click on company names for their live prices.

The rupee rose 13 paise to 79.1 against the US dollar in early trade on Monday, buoyed by fresh foreign fund inflows in capital markets and a firm trend in domestic equities, Rakesh Jhunjhunwala hit a new record high after the company closed on Monday. Metro Brands endorsed. A stellar performance and returned to the black in the quarter ended June 30, 2022. The multi-brand footwear retail chain reported a consolidated net profit after tax of Rs 105.78 crore for the quarter ended June. The company had reported a net loss after tax of Rs 12.13 crore during the January-March quarter last year.

Price Aug 01, 2022 At 09:44 AM, click on company name for their live prices.

Buy or Sell: Stock views by experts for August 01, 2022 Realty major DLF reported a 39 per cent rise in its consolidated net profit at Rs 469.56 crore for the quarter ended June on better selling. Its net profit stood at Rs 337.16 crore in the same period a year ago. The realty major’s net debt declined 16 per cent to Rs 2,259 crore during the April-June period from the previous quarter.

Price As on Aug 01, 2022 09:39 AM Click on company name for their live prices.

Mahindra & Mahindra has claimed that it has received over 1 lakh bookings for its new Scorpio-N SUV within half an hour of bookings that started on Saturday. M&M launched the vehicle on June 27; Stocks hit new highs

Price As on Aug 01, 2022 09:33 AM Click on company name for their live prices.

Analysts stay on Sun Pharma, raise targets Stocks in focus: ITC, Star Health and more Yes Bank, Tata Steel, IDFC among most active stocks on NSE

Price As on August 01, 2022 09:24 AM Click on company name for their live prices.

Opening Bell: Sensex rises 250 points, Nifty above 17,200; Nazara rallies 11%, Paytm loses 5% Asian stocks sluggish start, China data soft

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Asian stock markets got off to a slow start on Monday, as disappointing Chinese economic data raised doubts that last week’s rally on Wall Street could be sustained due to policy tightening set by global central banks.

Today’s Quarterly Earnings

ITC, Varun Beverages, UPL, Zomato, Max Financial Services, Escorts Kubota, Kansai Nerolac Paints, Castrol India and The Ramco Cements are among the companies that will announce their quarterly earnings today.

SGX Nifty signs a positive start

Nifty futures were trading 31 points or 0.18 per cent higher at 17,262.50 on the Singapore Exchange, indicating that Dalal Street was headed for a positive start on Monday.

Tech View: Bullish Engulfing Candle on Monthly Chart Shows Better Sentiment

Nifty 50 climbed for the third consecutive day on Friday and reached the level of 17,100 on a closed basis. During the day, the index resumed its 200-day simple moving average with a gap in the day before and showed strength.

Oil prices fall ahead of OPEC+ meeting

Oil prices fell early Monday as investors braced for this week’s meeting of officials from OPEC and other top producers on supply adjustments. Brent crude futures fell 63 cents, or 0.6%, to $103.34 a barrel by 0000 GMT. US West Texas Intermediate crude was down at $97.87 a barrel, down 75 cents, or 0.7%, when trading in Asia began to hit a session low of $97.55.

Tokyo shares open slightly higher

Tokyo shares rose in early trade on Monday, extending rallies on Wall Street as traders kept an eye on upcoming corporate earnings. The benchmark Nikkei 225 index rose 0.05 per cent or 14.52 points to 27,816.16, while the broader Topix index rose 0.14 per cent, or 2.63 points, to 1,942.94.

US stocks rise again, close best month since November 2020

US stocks posted further gains on Friday as Wall Street closed its best month since November 2020, a welcome respite for investors after a punishing year for the market.

Rupee rises 45 paise to close at 3-week high on forex inflows

The rupee on Friday closed at a three-week high of 79.24 against the US dollar, its biggest one-day gain in nine months, on fresh capital inflows and a weak green in global markets.

Sensex, Nifty on Friday

Led by the metal pack, the 30-share Sensex closed 712 points or 1.25 per cent higher at 57,570.25. Its broader counterpart, the Nifty 50, also edged higher by 229 points or 1.35 per cent, at a 3-month high and closed above the 17,100 mark.

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