Sensex Today: Stock Market LIVE Updates: Sensex rises 200 points, Nifty nears 17,500; defensives bleed; SBI falls 3%, Nykaa rises 3% post Q1 show – The Economic Times
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“The price of crude staying below 95 and foreign investors buying Indian shares last week are mainly the two factors that are keeping us positive,” said Neeraj Dewan, director at Quantum Securities.
Foreign investors have poured $1.79 billion into Indian equities so far this month, according to Refinitiv data.
Meanwhile, oil prices hovered near multi-month lows on Monday, as data pointed to a slow recovery in China’s crude imports in July.
India, the world’s third largest importer of oil, benefits from fall in crude prices as it brings down imported inflation.
In Mumbai trading, Nifty’s auto index advanced more than 0.6%. Automaker Mahindra and Mahindra was the top performer on the Nifty 50, gaining as much as 2.6%.
Among individual stock moves, State Bank of India fell as much as 3.2% and was the top drag on Nifty 50 index. The bank, on Saturday, missed estimates with a 6.7% fall in first-quarter profit hit by investment losses.
FSN E-Commerce Ventures, parent of cosmetics-to-fashion retailer Nykaa, rose as much as 4.4% after it reported a rise in quarterly profit.
Indian markets will be closed on Tuesday for a holiday.
Investors are awaiting data from U.S. on consumer prices due on Wednesday which will offer more clues on the pace of rate hikes by the Federal Reserve.
A solid U.S. payrolls data, last week, pushed back against talks of recession in the world’s largest economy, but also bolstered the case for more super-sized rate hikes.
!1 New UpdateClick here for latest updates
SoftBank posts $23 billion loss in first quarter
SoftBank Group Corp on Monday posted a 3.16 trillion yen ($23.37 billion) net loss in the April-June quarter. That compared with profit of 761.5 billion yen in the same period a year earlier.
These stocks gain in line with market mood, jump up to 7%
Price as on 08 Aug, 2022 11:26 AM, Click on company names for their live prices.
STOCK IN FOCUS: NTPC
#StocksInNews | @ntpclimited exploring setting up nuclear power capacity #StockMarket #StocksToWatch #NTPC https://t.co/lZDIwYyh7H
— ET NOW (@ETNOWlive) 1659936955000
Pharma stocks weak, fall up to 4%
Price as on 08 Aug, 2022 11:08 AM, Click on company names for their live prices.
Paytm rises 6% after strong operational performance in Q1
Shares of One97 Communication, the parent company of Paytm, rallied as much as 6 per cent during the early trade on Monday after the company reported a better-than-expected performance in the June 2022 quarter. The digital financial services provider said its net loss widened year-on-year (YoY) to Rs 644.4 crore in the June quarter of the current fiscal against a loss of Rs 380.2 crore in the corresponding quarter of the last fiscal year. Paytm, however, reported an 89 per cent increase in revenue on a YoY basis to Rs 1,679.6 crore. It said the revenue growth was driven by strong monetization in payments, device subscriptions and accelerated adoption of high-margin businesses.
Tata Motors has inked a pact to acquire Ford India’s Sanand-based manufacturing plant for Rs 725.7 crore, as it aims to bolster its passenger vehicle production capacity. As part of the deal, Tata Motors will get the entire land and buildings, vehicle manufacturing plant along with machinery and equipment situated therein, the Mumbai-based auto major said in a statement.
Price as on 08 Aug, 2022 10:48 AM, Click on company names for their live prices.
Syrma SGS Tech IPO to open on Aug 12; price band fixed at Rs 209-220 apiece
After a break of nearly three months, the primary market is likely to get some mojo back as the initial public offering (IPO) of Syrma SGS Technology will open for subscription on Friday, August 12. The engineering and design company has fixed the price band at Rs 209-220 apiece for the issue. The issue will run till August 18 (Thursday). The company is aiming to raise Rs 840 crore via its primary offering, which includes a fresh issue of Rs 766 crore, whereas existing shareholders and promoters will offload 33,69,360 equity shares from their holding.
RBI may hike repo rate to 6.00%, pace may slow: Analysts
The Reserve Bank of India is likely to raise its key policy rate by upto 60 basis points by the end of 2022, before pausing, but the pace of rate hikes is likely to slow down, analysts said.”We are retaining our view of a terminal policy rate of 6%…We expect a 35 bps hike at the next meeting in September and a final 25 bps hike in December, before growth concerns and the cumulative rate hikes delivered thus far lead the MPC to shift into an extended pause,” Nomura economist Sonal Varma said in a note.
Earnings Impact
Price as on 08 Aug, 2022 10:05 AM, Click on company names for their live prices.
Rupee opens lower on aggressive Fed policy tightening expectations
The Indian rupee opened lower against the dollar on Monday, tracking broad decline in Asian peers after upbeat U.S. jobs data prompted traders to bet on an aggressive 75-basis-point rate hike from the Federal Reserve in its September meeting. The rupee was trading at 79.46 per U.S. dollar by 0333 GMT, compared with the previous close of 79.23.
Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Growth impulses in India are strong. Leading indicators like bank credit growth, capacity utilization in manufacturing, automobile demand etc suggest an economy in strong rebound.
Financials, capital goods and construction are on a strong wicket. Pharma and FMCG are stable. Robust jobs data in the US bodes well for the IT sector.
Most active stocks on NSE
Price as on 08 Aug, 2022 09:20 AM, Click on company names for their live prices.
Sensex Heatmap: Top gainers & losers at opening tick
OPENING BELL: Sensex up 30 points, Nifty holds above 17,400; SBI falls 2%, Nykaa gains 3%
Asian shares trade mixed
Asian share markets were mostly softer on Monday and the dollar held firm after a stunning U.S. payrolls report pushed back against talk of recession but also bolstered the case for more super-sized rate hikes.
Quarterly earnings today
Bharti Airtel, Adani Ports and Special Economic Zone, Power Grid Corporation Of India, Samvardhana Motherson International, Delhivery, Torrent Power, Whirlpool Of India and National Aluminium Company are among companies that will announce their quarterly earnings today.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 65 points, or 0.37 per cent, lower at 17,358.50, signaling that Dalal Street was headed for a negative start on Monday.
Tech View: Nifty50 loses momentum, may enter consolidation phase
Nifty50 on Friday ended on a flattish note for the second straight session. The index formed an indecisive candle on the daily chart. On the weekly scale, the index formed a small bullish candle. Analysts said the index might be losing momentum after recent strong gains. They see 17,500 as an immediate resistance level. The level of 17,150 may act as strong support, they said.
Oil slides amid recession fears, slow recovery in China imports
Oil prices dropped on Monday, hovering near multi-month lows, as recession fears hurt demand outlook and data pointed to a slow recovery in China’s crude imports last month.
Tokyo markets open lower after recent gains
Tokyo stocks opened lower Monday after recent gains in Japanese markets and with US tech share prices softening. The benchmark Nikkei 225 index fell 0.33 percent, or 92.54 points, to 28,083.33 in early trade, while the broader Topix index lost 0.36 percent, or 6.94 points, at 1,940.23.
S&P 500 ends down as jobs data rekindles rate hike fear
The S&P 500 ended lower on Friday, weighed down by Tesla and other technology-related stocks after a solid jobs report torpedoed recent optimism that the Federal Reserve might let up its aggressive campaign to reign in decades-high inflation.
Rupee rises 16 paise to 79.24 against US dollar
Reversing a two-session losing streak, the rupee appreciated by 16 paise to close at 79.24 against the US dollar on Friday after the Reserve Bank hiked interest rates by 50 basis points.
Sensex, Nifty on Friday
The BSE Sensex remained choppy in the last hour but settled 89 points higher at 58,388. Its NSE counterpart, Nifty50, recovered from day’s lows to add another 16 points but ended the week below 17,400.
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“The price of crude staying below 95 and foreign investors buying Indian shares last week are mainly the two factors that are keeping us positive,” said Neeraj Dewan, director at Quantum Securities.
Foreign investors have poured $1.79 billion into Indian equities so far this month, according to Refinitiv data.
Meanwhile, oil prices hovered near multi-month lows on Monday, as data pointed to a slow recovery in China’s crude imports in July.
India, the world’s third largest importer of oil, benefits from fall in crude prices as it brings down imported inflation.
In Mumbai trading, Nifty’s auto index advanced more than 0.6%. Automaker Mahindra and Mahindra was the top performer on the Nifty 50, gaining as much as 2.6%.
Among individual stock moves, State Bank of India fell as much as 3.2% and was the top drag on Nifty 50 index. The bank, on Saturday, missed estimates with a 6.7% fall in first-quarter profit hit by investment losses.
FSN E-Commerce Ventures, parent of cosmetics-to-fashion retailer Nykaa, rose as much as 4.4% after it reported a rise in quarterly profit.
Indian markets will be closed on Tuesday for a holiday.
Investors are awaiting data from U.S. on consumer prices due on Wednesday which will offer more clues on the pace of rate hikes by the Federal Reserve.
A solid U.S. payrolls data, last week, pushed back against talks of recession in the world’s largest economy, but also bolstered the case for more super-sized rate hikes.
!1 New UpdateClick here for latest updates
SoftBank posts $23 billion loss in first quarter
SoftBank Group Corp on Monday posted a 3.16 trillion yen ($23.37 billion) net loss in the April-June quarter. That compared with profit of 761.5 billion yen in the same period a year earlier.
These stocks gain in line with market mood, jump up to 7%
Price as on 08 Aug, 2022 11:26 AM, Click on company names for their live prices.
STOCK IN FOCUS: NTPC
#StocksInNews | @ntpclimited exploring setting up nuclear power capacity #StockMarket #StocksToWatch #NTPC https://t.co/lZDIwYyh7H
— ET NOW (@ETNOWlive) 1659936955000
Pharma stocks weak, fall up to 4%
Price as on 08 Aug, 2022 11:08 AM, Click on company names for their live prices.
Paytm rises 6% after strong operational performance in Q1
Shares of One97 Communication, the parent company of Paytm, rallied as much as 6 per cent during the early trade on Monday after the company reported a better-than-expected performance in the June 2022 quarter. The digital financial services provider said its net loss widened year-on-year (YoY) to Rs 644.4 crore in the June quarter of the current fiscal against a loss of Rs 380.2 crore in the corresponding quarter of the last fiscal year. Paytm, however, reported an 89 per cent increase in revenue on a YoY basis to Rs 1,679.6 crore. It said the revenue growth was driven by strong monetization in payments, device subscriptions and accelerated adoption of high-margin businesses.
Tata Motors has inked a pact to acquire Ford India’s Sanand-based manufacturing plant for Rs 725.7 crore, as it aims to bolster its passenger vehicle production capacity. As part of the deal, Tata Motors will get the entire land and buildings, vehicle manufacturing plant along with machinery and equipment situated therein, the Mumbai-based auto major said in a statement.
Price as on 08 Aug, 2022 10:48 AM, Click on company names for their live prices.
Syrma SGS Tech IPO to open on Aug 12; price band fixed at Rs 209-220 apiece
After a break of nearly three months, the primary market is likely to get some mojo back as the initial public offering (IPO) of Syrma SGS Technology will open for subscription on Friday, August 12. The engineering and design company has fixed the price band at Rs 209-220 apiece for the issue. The issue will run till August 18 (Thursday). The company is aiming to raise Rs 840 crore via its primary offering, which includes a fresh issue of Rs 766 crore, whereas existing shareholders and promoters will offload 33,69,360 equity shares from their holding.
RBI may hike repo rate to 6.00%, pace may slow: Analysts
The Reserve Bank of India is likely to raise its key policy rate by upto 60 basis points by the end of 2022, before pausing, but the pace of rate hikes is likely to slow down, analysts said.”We are retaining our view of a terminal policy rate of 6%…We expect a 35 bps hike at the next meeting in September and a final 25 bps hike in December, before growth concerns and the cumulative rate hikes delivered thus far lead the MPC to shift into an extended pause,” Nomura economist Sonal Varma said in a note.
Earnings Impact
Price as on 08 Aug, 2022 10:05 AM, Click on company names for their live prices.
Rupee opens lower on aggressive Fed policy tightening expectations
The Indian rupee opened lower against the dollar on Monday, tracking broad decline in Asian peers after upbeat U.S. jobs data prompted traders to bet on an aggressive 75-basis-point rate hike from the Federal Reserve in its September meeting. The rupee was trading at 79.46 per U.S. dollar by 0333 GMT, compared with the previous close of 79.23.
Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Growth impulses in India are strong. Leading indicators like bank credit growth, capacity utilization in manufacturing, automobile demand etc suggest an economy in strong rebound.
Financials, capital goods and construction are on a strong wicket. Pharma and FMCG are stable. Robust jobs data in the US bodes well for the IT sector.
Most active stocks on NSE
Price as on 08 Aug, 2022 09:20 AM, Click on company names for their live prices.
Sensex Heatmap: Top gainers & losers at opening tick
OPENING BELL: Sensex up 30 points, Nifty holds above 17,400; SBI falls 2%, Nykaa gains 3%
Asian shares trade mixed
Asian share markets were mostly softer on Monday and the dollar held firm after a stunning U.S. payrolls report pushed back against talk of recession but also bolstered the case for more super-sized rate hikes.
Quarterly earnings today
Bharti Airtel, Adani Ports and Special Economic Zone, Power Grid Corporation Of India, Samvardhana Motherson International, Delhivery, Torrent Power, Whirlpool Of India and National Aluminium Company are among companies that will announce their quarterly earnings today.
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 65 points, or 0.37 per cent, lower at 17,358.50, signaling that Dalal Street was headed for a negative start on Monday.
Tech View: Nifty50 loses momentum, may enter consolidation phase
Nifty50 on Friday ended on a flattish note for the second straight session. The index formed an indecisive candle on the daily chart. On the weekly scale, the index formed a small bullish candle. Analysts said the index might be losing momentum after recent strong gains. They see 17,500 as an immediate resistance level. The level of 17,150 may act as strong support, they said.
Oil slides amid recession fears, slow recovery in China imports
Oil prices dropped on Monday, hovering near multi-month lows, as recession fears hurt demand outlook and data pointed to a slow recovery in China’s crude imports last month.
Tokyo markets open lower after recent gains
Tokyo stocks opened lower Monday after recent gains in Japanese markets and with US tech share prices softening. The benchmark Nikkei 225 index fell 0.33 percent, or 92.54 points, to 28,083.33 in early trade, while the broader Topix index lost 0.36 percent, or 6.94 points, at 1,940.23.
S&P 500 ends down as jobs data rekindles rate hike fear
The S&P 500 ended lower on Friday, weighed down by Tesla and other technology-related stocks after a solid jobs report torpedoed recent optimism that the Federal Reserve might let up its aggressive campaign to reign in decades-high inflation.
Rupee rises 16 paise to 79.24 against US dollar
Reversing a two-session losing streak, the rupee appreciated by 16 paise to close at 79.24 against the US dollar on Friday after the Reserve Bank hiked interest rates by 50 basis points.
Sensex, Nifty on Friday
The BSE Sensex remained choppy in the last hour but settled 89 points higher at 58,388. Its NSE counterpart, Nifty50, recovered from day’s lows to add another 16 points but ended the week below 17,400.
Good morning, dear reader! Here’s something to kickstart your trading day
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