MARKET OVERVIEW :
Stock Market Updates on August 06, 2024
| Nifty 50 hovers around 24,250, Nifty Bank back above 50,100
Oil down, Gold down , Rupee Weak.
Indian benchmark indices Nifty 50 and Sensex opened today’s trade session in the green and conud to trade with gains.
Thank you for reading this post, don't forget to subscribe!Financials fall most, Nifty Bank gives up 50,000
Nifty 50 ended the previous trade session 1,022.7 points away from its last week’s record high of 25,078.30.
Overnight, US markets too extended their losses. Dow Jones fell more than 1,000 points while the S&P was down over 3%, recording their worst day since September 2022.
However, post-trade, US futures are see a bit of a bounce, and on cue Japanese stocks are also witnessing gains.
Today, stocks such as ONGC, Bharti Airtel, Deepak Nitrite, Bharti Hexacom, BEML, Brigade Enterprises, BLS International will react to their quarterly earnings.
Meanwhile, Gujarat Gas, Tata Power, Cummins India, Gland Pharma, PI Industries, JM Financia, TVS Motor, Lupin, IIFL Finance will report their quarterly earnings today.
Stock Market LIVE Updates | Explained — The 13% Surge In Shares Of Gokaldas Exports
Shares of Gokaldas Exports surged as much as 14% on Tuesday to a record high of ₹1,049.7 on Tuesday. The stock has snapped a five-day losing streak in today’s trading session.
Gokaldas exports shares have surged on Tuesday as the company could end up being a potential beneficiary as a result of the political crisis in Bangladesh that led to the ouster of now former Prime Minister Sheikh Hasina.
Stock Market LIVE Updates | LIC Housing Finance Extends Losses
LIC Housing Finance shares are trading lower for the sixth day today.The stock is down 2.03% at the moment.It has fallen 14.03% in the past month, but has gained 19.41% this year, so fast.Financials fall most, Nifty Bank gives up 50,000
Rupee Hits Fresh Record Low
Ruppe hit a fresh record low of 83.875 VS USD
Nifty Falls Over 200 Points From Day’s Highs, But Remains In The Green.Nifty Bank has slipped below 50,000 Banking heavyweights such as ICICI Bank, HDFC Bank, Kotak Mahindra Bank drag the market lower
Bharti Airtel Shares In The Red Following Q1 Results Bharti Airtel shares are trading 0.5% lower at the moment.Net profit at ₹4,159.9 crore, higher than CNBC-TV18 poll of ₹3,620 crore. Revenue of ₹38,506 crore, in-line with estimates. EBITDA at ₹19,944 crore, marginally lower than poll of ₹20,096 crore. EBITDA margin of 51.8%, also slightly lower than estimates of 52.2%. India business revenue up 10.1% from last year. Mobile Average Revenue Per User at ₹211 from ₹200 last year. Net Debt-to-EBITDA currently at 2.54x. Prepaid ₹7,904 crore in June 2024 for all deferred liabilities pertaining to spectrum acquired in 2012 and 2015, which were at the highest interest cost.The stock has gained 43.92% this year, so far.
Bank of Japan Under Fire For Rate-Hike Timing After Market Meltdown.The Bank of Japan’s monetary policy tightening last week has triggered a wave of criticism after it helped set off a historic plunge in Japanese stocks and contributed to global market turmoil — likely putting any plans for further interest-rate hikes on ice.
Akums Drugs IPO Shares List At 7% Prmium over Akums Drugs and Pharmaceuticals Ltd. made a decent stock market debut on Tuesday, August 6. The shares listed at a premium of 6.77%, at ₹725 on the NSE. Similarly, it listed at ₹725 on the BSE.
Axiscades Q1 Net Profit At Rs 17 Crore. Net Profit At Rs 17 Cr Vs Rs 6 Cr (YoY) –Revenue Up 4.4% At Rs 223.4 Cr Vs Rs 214 Cr (YoY) –EBITDA Down 6% At Rs 31.3 Cr Vs Rs 33.2 Cr (YoY) –Margin At 14% Vs 15.5% (YoY)
Real Estate Relief Likely? Realty Inex Jumps Over 3%; Brigade, Godrej Properties Shares Rally The Nifty Realty index has snapped a four-day losing streak and is trading with gains of over 3% on Tuesday. Eight out of the 10 index components are also trading with gains, recovering some of the losses made over the last four sessions.