Stock LIVE Updates: Sensex loses 500 points, Nifty below 16,600; RIL tanks 4%; Zomato hits new 52-… – Economic Times | Region & Cash

Indian stocks slipped on Monday from their longest winning streak since last October as Reliance Industries slipped after a weaker-than-expected earnings report, although a strong performance from private lender ICICI Bank limited losses. Over the past week, indices have each risen more than 4% on their best performances since February 2021.

India’s most valuable company Reliance fell 3.4%, posting its largest one-day percentage decline in more than three weeks after its first-quarter profit missed estimates of a cost increase.

Zomato’s shares plunged 11.5% to a record low as a year-long lockup ended after the food supplier went public in 2021.

“Market moves this week will be in response to results released after the market close last Friday and in anticipation of key results expected this week. While RIL’s results are impressive in the telecoms and retail sectors, they fell slightly short of expectations in the refining sector. ICICI Bank’s results are the best in the banking segment. Steller’s first-quarter results, rising credit growth and improving asset quality bode well for ICICI Bank stock. Infosys’ numbers reflect industry concerns about pressure on margins, but Infy’s higher revenue growth forecast of 14-16 percent shows management’s confidence in the business prospects,” said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The Fed’s July 27 rate announcement is unlikely to affect the market much as a 75 basis point rate hike is already known and priced in by the market, he said, adding that the market will be watching the Fed’s comment closely for short-term triggers.

Nifty 50 components Tata Steel, Tech Mahindra and Axis Bank will report their results later in the day.

!1 New updateClick here for the latest updates

RESULT Q1: Jyothi Labs

Sensex lost 500 points

Global brokerage mixed on Infosys after subdued Q1 performance

  • Morgan Stanley remains overweight shares with a price target of Rs 1,535, the lowest of the three included in this report. “Infosys’ growth performance was solid, but margin was lower,” it said.

  • Another brokerage firm, BofA Securities, kept its ‘neutral’ rating on the stock with a price target of Rs 1,600 as it raised its FY23 revenue outlook but steered the EBIT percentage to a low end.

  • On the other hand, CLSA has kept a Buy rating with a target price of Rs 1,750 on the counter amid healthy demand dynamics and cost challenges appear temporary.
Global brokerage mixed on Infosys after subdued Q1 performance

Market LIVE Updates: Metals Stocks Gain in a Soft Market; Check out the top winners

Price from 07/25/2022 10:58 a.mClick on company names for their live prices.

The GoM meeting on the new GST structure for online games and casinos remains without result

How have analysts changed their stance on RIL stocks after missing O2C segment’s Q1FY23 numbers?

Intellect Global Consumer Banking (iGCB), the consumer banking arm of Intellect Design Arena, announced that Mineral Development Bank has selected iGCB’s Intellect Digital Core to transform its banking solutions.

Price from 07/25/2022 10:22 a.mClick on company names for their live prices.

Droupadi Murmu takes oath as 15th President of India

The rupee is up 9 paise to 79.81 against the US dollar in early trade

The rupee appreciated 9 paise to 79.81 against the US dollar in early trade Monday, helped by the decline in crude oil prices. On the interbank foreign exchange exchange, the rupee opened at 79.86 against the US dollar. In initial trading, the local currency saw a high of 79.81 and a low of 79.87 against the US dollar. In the previous session, the rupee had closed at 79.90 against the US currency. Meanwhile, the dollar index, which measures the dollar’s strength against a basket of six currencies, fell 0.10 percent to 106.62.

Earnings Impact: Anupam Rasayan up 3% as companies report strong Q1 contributions

Earnings Impact: Anupam Rasayan up 3% as companies report strong Q1 contributions

Q1 RESULT: Anupam Rasayan

  • PAT: Rs 39.7 crore vs. Rs 32.1 crore YoY
  • Revenue: Rs 307 crore vs Rs 234 crore YoY

Sensex LIVE updates: Index extends losses and falls 250 points

Sensex LIVE updates: Index extends losses and falls 250 points

NATCO announces the approval of its ANDA for the intravenous solution of Cabazitaxel (generic for the Jevtana kit).

Price from 07/25/2022 9:36 a.mClick on company names for their live prices.

Market assessment: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Market moves this week will be in response to results released after the market close last Friday and in anticipation of the key results expected this week. While RIL’s results are impressive in the telecoms and retail sectors, they fell slightly short of expectations in the refining sector. ICICI Bank’s results are the best in the banking segment. Steller Q1 numbers, rising credit growth and improving asset quality bode well for ICICI Bank stock. Infosys’ numbers reflect industry concerns about pressure on margins, but Infy’s guidance for higher revenue growth of 14 to 16 percent shows management’s confidence in the business’ prospects.

The Fed rate announcement on July 27 is unlikely to affect the market much as a 75 basis point rate hike is already known and priced in by the market. The market will be watching Fed comment closely for short-term triggers.

FII selling, which has weighed heavily on the market since October 2021, is unlikely to affect the market in the short-term as FIIs have recently turned into buyers. As expected, financial stocks have benefited from the recent change in FII investment strategy.

YES Bank, Voda Idea, ICICI Bank are among the most active stocks on the NSE

Price from 07/25/2022 09:26 amClick on company names for their live prices.

BUZZING SHARES: Zomato falls 11% to hit a fresh 52-week low as lockdown on pre-IPO stake ends

BUZZING SHARES: Zomato falls 11% to hit a fresh 52-week low as lockdown on pre-IPO stake ends

OPENING BELL: Sensex down 100 points, Nifty down 16,700; RIL, Oil India down 2% each

OPENING BELL: Sensex down 100 points, Nifty down 16,700;  RIL, Oil India down 2% each

The rupee opens at $79.85 versus Friday’s close of $79.86

Multiple block deals in Nifty shares in pre-opening trading

Oil falls on concerns that the Fed’s rate hike will impact fuel demand

Oil fell on Monday, reversing earlier gains but continuing a recent losing streak amid fears that an expected rate hike in the US, the world’s biggest oil consumer, could limit fuel demand growth. Brent crude futures for September settlement were down 48 cents, or 0.5%, to $102.72 a barrel by 0205 GMT, down for a fourth day.

Asian equities slide as growth risks undermine confidence

Asian stocks lost ground on Monday, falling from more than 3-week highs as worries of a global economic slowdown dampened investor risk appetite. MSCI’s broadest index of Asia-Pacific equities fell 0.62% to 158.68 after hitting 160.03 on Friday, the highest since June 29.

SGX Nifty signals a negative start

Nifty futures on the Singapore Stock Exchange traded 81.5 points, or 0.49 percent, lower at 16,643.50, suggesting Dalal Street was heading for a negative start on Monday.

quarterly results today

Axis Bank, Tata Steel, Tech Mahindra, Canara Bank, Macrotech Developers, Glaxosmithkline Pharmaceuticals, Central Bank Of India, Solar Industries India, Supreme Industries and Indian Energy Exchange will announce their quarterly results today.

Tech View: Nifty50 extends winning streak, strong resistance likely at 16,800

Nifty50 rose for the sixth consecutive day on Friday, surpassing 16,700 on a closing basis. The index formed a bullish candle on the daily chart and a solid bullish candle on the weekly chart. Analysts see broad resistance for the index at 16,800-850. You see strong support for the index at 16,500.

Tokyo stocks open lower

Tokyo stocks opened lower on Monday, trailing losses on Wall Street, with investors daunted by a key monthly survey of economic activity that fueled concerns of a global slowdown. The benchmark Nikkei 225 index slipped 0.62 percent, or 173.32 points, to 27,741.34 in early trade, while the broader Topix index fell 0.42 percent, or 8.29 points, to 1,947.68.

Wall Street closes lower as ad tech and social media stocks fall

U.S. stocks closed lower on Friday as disappointing earnings from Snap spooked investors and shares in social media and ad-tech companies fell, erasing gains from card issuer American Express after an upbeat forecast.

The rupee falls 5 paise to end at 79.90 against the dollar

The rupee fell 5 paise to close at 79.90 against the US dollar on Friday as a stronger US currency and elevated crude oil prices weighed on investor sentiment. However, a firm trend in domestic stocks limited the rupee’s decline, forex traders said.

Sensex, Nifty on Friday

The 30-share Sensex package rose 390 points to close at 56,072. Its broader competitor, Nifty50, rose 114.20 points to close above the 16,700 mark. For the week, the benchmarks are up over 4 percent.

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

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

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