Shares

Share Market LIVE: Sensex, Nifty flat; banks, IT fall, FMCG, auto gain

Indian benchmark share indices rebounded on Friday in early trade after four days of decline but  were moving were in a range amid mixed global market trends. Share prices were mixed in Asia after China reported its economy contracted by 2.6% in the last quarter as virus shutdowns kept businesses closed and people at home.

15 Jul 2022, 12:37:58 PM IST

Ranil Wickremesinghe sworn in as Sri Lanka interim president until Rajapaksa successor elected: Reports

15 Jul 2022, 12:31:07 PM IST

G20 finance leaders in Bali to tackle Ukraine, inflation

Top financial officials from the Group of 20 leading rich and developing nations met on the Indonesian island of Bali on Friday seeking strategies to counter the economic fallout from the war in Ukraine, inflation and other global crises.

Indonesian Finance Minister Sri Mulyani Indrawati opened the two-day meeting by urging fellow finance ministers, central bank chiefs and other leaders to find ways to “build bridges, not walls.” She said the consequences of failure, especially for less wealthy nations, would be “catastrophic.”

15 Jul 2022, 12:24:21 PM IST

L&T Infotech up over 2% on robust Q1 earnings

The IT firm has reported a net profit of 634.40 crore for the first quarter of the current financial year, up 27.7% year-on-year. The company’s revenue from operation surged by 30.6% year-on-year to 4,522.8 crore in the quarter. On a quarter-on-quarter basis, the company’s revenue rose by 5.1%, while net profit fell 0.5%.

BSE

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BSE
15 Jul 2022, 12:16:02 PM IST

Passengers avoid SpiceJet after slew of safety lapses: Survey

Passengers are starting to avoid SpiceJet after a series of mid-air safety failures, according to a survey, dealing a blow to the cash-strapped airline that’s been summoned by authorities to explain the lapses.

A survey of more than 21,000 fliers conducted by LocalCircles showed 44% are currently steering clear of India’s third-biggest airline due to safety concerns versus 21% who are avoiding Air India Ltd. and IndiGo and 18% for Go First. Some 37% of respondents said they don’t avoid any particular airline.

 

15 Jul 2022, 12:07:20 PM IST

Nifty broad market indices at this hour: SmallCaps lag; India VIX down 2.5%

NSE

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NSE
15 Jul 2022, 12:03:04 PM IST

Sensex at noon: Up 100 points; Bharti Airtel, Titan up 2%; Wipro, HCL Tech main laggards

BSE

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BSE
15 Jul 2022, 11:54:11 AM IST

Earnings downgrades pour in for ACC on dismal June quarter margin performance

Pan-India focused cement manufacturer ACC Ltd. reported dismal earnings performance in the June quarter of calendar year 2022 (Q2CY22). 

Despite the challenges the cement sector is facing, the ACC stock has seen lower decline than the Nifty50, so far in this calendar year. ACC has also done better than peers Ultratech Cement, Ambuja Cements Ltd., and Shree Cement

(Full report)

15 Jul 2022, 11:46:10 AM IST

Shanghai’s economy shrinks 14% as lockdown takes toll

Shanghai’s economy shrank almost 14% in the second quarter when a two-month lockdown in the financial and trading hub shuttered factories, curbed consumer spending and disrupted operations at the world’s largest port.

Shanghai’s economy contracted 13.7% from a year ago, the biggest decline among China’s provinces and municipalities. In Jilin — which also imposed a lockdown to curb Covid infections — GDP shrank 4.5%. General public budget revenue in Shanghai slumped 12.9% in the first half of the year, compared with a 4.7% increase nationwide, showing the hit to government finances from the Covid controls. (Bloomberg)

15 Jul 2022, 11:36:32 AM IST

IndiGo’s Delhi-Vadodara flight diverted to Jaipur following engine vibrations

15 Jul 2022, 11:26:32 AM IST

Adani Ports higher after winning an Israel port for $1.2 Billion

Adani Port

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Adani Port
15 Jul 2022, 11:21:34 AM IST

Yes Bank picks JC Flowers ARC as partner for sale of ₹48,000 crore worth stressed loan portfolio

Yes Bank on Friday said its the board of directors have signed a binding term sheet with JCF ARC LLC and JC Flowers Asset Reconstruction Private Limited (JC Flowers ARC) for strategic partnership in relation to sale of identified stressed loans of the bank.

In August last year, Yes Bank invited expressions of interest to set up the ARC, in which it proposed to own a 20% stake.

15 Jul 2022, 11:11:30 AM IST

India reports over 20,000 new covid cases, 47 deaths in last 24 hours

15 Jul 2022, 11:01:53 AM IST

Saish Sandeep Sawant Dessai, Research Associate- Base Metals, Angel One on gold

After having witnessed a positive closing in the previous session, the price of gold was back again in the negative territory as it ended with a cut of 1.49 percent, ending at 1709.4$ per ounce,

After a one-day pause, gold prices resumed their downward trend. The metal is now headed for yet another weekly fall due to a persistent rise in the dollar and concerns over hasty increases in U.S. interest rates.

The dollar was hovering near 20-year highs, which restrained demand from customers holding other currencies for bullion priced in the greenback. A strong dollar sent gold down nearly 2% in the previous session.

Although the benchmark 10-year Treasury yield inched lower on Thursday, two of the Fed’s hawkish officials indicated they preferred another 75 basis-point increase in interest rates at this month’s policy meeting.

Outlook: We expect gold to trade lower towards 49790 levels, a break of which could prompt the price to move lower to 49370 levels.

15 Jul 2022, 10:54:29 AM IST

Nifty Auto gains 0.7%; all players in the green

Nifty Auto

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Nifty Auto
15 Jul 2022, 10:46:19 AM IST

Tata Steel Long Products slips around 4%; posts net loss of ₹331 crore in the June quarter

The company posted a net loss of 331.09 crore in the June quarter, mainly on account of higher expenses. Its total income, however, rose to 2,154.78 crore from 1,726.82 crore in the quarter ended June 2021. The company saw its expenses rise to 2,489.58 crore from 1,282.59 crore in the same period a year ago.

15 Jul 2022, 10:35:00 AM IST

Angel One’s Top Picks for 15 July

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15 Jul 2022, 10:18:53 AM IST

Reliance Research says ‘buy’ Bharat Electronics with target price of ₹270

Intraday Picks

BHARATFORG (PREVIOUS CLOSE: 659) BUY

For today’s trade, long position can be initiated in the range of Rs653- 648 for the target of Rs674 with a strict stop loss of Rs637.

NESTLEIND (PREVIOUS CLOSE: 18,363) BUY

For today’s trade, long position can be initiated in the range of Rs18,360-18,270 for the target of Rs18,650-18,720 with a strict stop loss of Rs18,090.

ICICIPRULI (PREVIOUS CLOSE: 513) SELL

For today’s trade, short position can be initiated in the range of Rs519- 523 for the target of Rs508 with a strict stop loss of Rs529.

15 Jul 2022, 10:08:20 AM IST

Syngene International jumps 3.5%; co signs 10-year agreement with animal health company Zoetis

The Biocon arm has signed a 10-year agreement with animal health company, Zoetis, to manufacture the drug substance for Librela which is used for treating osteoarthritis in dogs. This agreement paves the way for development and manufacturing of other molecules in the coming years and is expected to be worth up to $500 million to Syngene in over 10 years.

15 Jul 2022, 10:00:50 AM IST

Market view: Sameet Chavan, chief analyst-Technical and Derivatives, Angel One

We can see the key support zone of 15950 – 15900 getting defended successfully on a closing basis. Hence, the bias still remains positive and one should use this as a buying opportunity till the time we do not sneak below it on a sustainable basis. On the flip side, there are a lot of headwinds that are not willing markets to stay at higher levels.

For the coming session, 16040 – 16070 are to be seen as immediate resistances and only a move beyond this would trigger some broad-based buying in the market. At this juncture, it’s advisable to stay light and identify the apt themes that remain a key for momentum traders. Sectorally, banking and IT again started sulking, and hence, their participation is a must in order to lift the overall sentiments in the traders’ fraternity.

15 Jul 2022, 09:53:56 AM IST

LIC takes ₹40,000 crore hit on valuation; shares down

Life Insurance Corp. of India has suffered a 40,000 crore hit on its valuation due to the extended fall in equity markets and rising interest rates affecting yields from its debt investment, a top executive said.

“The equity market fall has impacted the valuation of equity investment holdings by LIC,” an executive director of the country’s largest life insurer said at a conference call hosted by chairman M.R. Kumar on Thursday.

BSE

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BSE
15 Jul 2022, 09:48:36 AM IST

Nifty sectoral indices: IT, metal, PSU Banks weak; FMCG tops pack

NSE

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NSE
15 Jul 2022, 09:37:59 AM IST

Nifty up 0.3%; NTPC, Hero MotoCorp gain, ICICI Bank, Eicher Motors top losers at this hour

Nifty

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Nifty
15 Jul 2022, 09:31:21 AM IST

Sensex up 223 higher in early trade;  Tata Steel, Axis Bank drop; HUL, Bharti Airtel top gains

BSE

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BSE
15 Jul 2022, 09:18:18 AM IST

Sensex opens higher; Nifty above 16,000

15 Jul 2022, 09:11:48 AM IST

Rupee opens at record low of 79.94 against US dollar

15 Jul 2022, 09:06:48 AM IST

Sensex flat in pre-opening; HCL Tech, NTPC weak

BSE

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BSE
15 Jul 2022, 09:00:14 AM IST

Gold inches higher

Gold inched higher on Friday, as the dollar rally eased, although the greenback’s remarkable performance overall and fears of aggressive U.S. interest rate hikes weighed on demand for bullion and set prices for a fifth straight weekly loss.

Spot gold was up 0.2% at $1,713.04 per ounce, but has lost 1.6% so far this week. U.S. gold futures rose 0.4% to $1,712.10. Spot silver dipped 0.1% to $18.36 per ounce, but has fallen about 4.9% in what could be its seventh straight weekly loss.

15 Jul 2022, 08:53:12 AM IST

Cryptocurrencies rise; bitcoin breaks above $20,000 again

Cryptocurrencies rose for the second day as US tech stocks also posted an advance and investors got more clarity on the bankruptcy of a major digital-assets lender.

Bitcoin, the largest digital coin by market value, rose as much as 5.6% on Thursday to once again trade above the closely watched $20,000 level. Ether, the second-biggest, surged 12% at one point to above $1,200. The rallies were broad-based, with an index of 100 of the most-tracked coins rising roughly 6%, and happened as the market digested Celsius Network Ltd.’s filing for bankruptcy, which cleared a major overhang.

15 Jul 2022, 08:44:17 AM IST

Trade gap widens to record even as exports touch $40bn

India’s trade deficit grew to a record in June, attributed to expensive imports of coal and petroleum, even as exports recorded robust growth amid global headwinds, according to official data.

Exports touched the $40 billion-mark for the third time in 2022 and the second time in the current fiscal year despite high inflation and fears of a recession in key markets including the US and the EU.

India’s merchandise exports grew 23.5% year-on-year in June to touch $40.13 billion, while imports grew 57.5% to a record $66.31 billion, leaving the highest ever monthly trade deficit of $26.18 billion.

15 Jul 2022, 08:32:36 AM IST

KKR may sell stake in Max for ₹12,000 crore

KKR & Co. Inc., the largest shareholder of Max Healthcare Institute Ltd, plans to sell its entire stake in India’s third-largest hospital chain for around 10,000-12,000 crore, two people familiar with the development said.

The New York-based private equity firm is in talks with strategic and equity investors, including private equity firms, family offices, and wealthy individuals, to sell its 27.54% stake in the hospital chain, one of the two told Mint. (Read more)

15 Jul 2022, 08:23:08 AM IST

Indian indices likely to open flat, remain under pressure

Benchmark indices Sensex and Nifty are likely to see subdued opening on Friday tracking weak global cues. SGX Nifty also indicated a flat start for domestic indices. On Thursday, markets gave up early gains to close lower for a fourth straight session with he 30-share Sensex closing 98 points lower at 53,416.15 while Nifty ending 0.18% lower at 15,938.70.

15 Jul 2022, 08:14:39 AM IST

Stocks to Watch: Adani Ports, Dabur, L&T Infotech, ACC, Tata Elxsi

Jindal Steel & Power, Federal Bank, Aditya Birla Money, Den Networks, Just Dial, L&T Technology Services, Oberoi Realty, will also be in focus as they declare their June quarter earnings today. (Read more)

15 Jul 2022, 08:06:27 AM IST

Gold set for longest run of weekly losses since 2018

Gold is heading for its fifth weekly loss, the longest streak of such declines in almost four years, with its haven credentials sidelined by investors becoming super-bullish on the US dollar.

Gold slumped below $1,700 an ounce on Thursday for the first time in almost a year, while Bloomberg’s dollar gauge climbed to a record.

15 Jul 2022, 07:57:32 AM IST

Crude oil prices climb

Oil prices rose in early Asian trading on Friday amid uncertainty around how aggressive the U.S. Federal Reserve will be in hiking interest rates to combat rampant inflation.

Brent crude futures for September delivery rose 80 cents, or 0.8%, to $99.90 a barrel, while WTI crude rose 69 cents, or 0.7%, to $96.47 a barrel.

15 Jul 2022, 07:43:22 AM IST

China’s Q2 GDP growth slows sharply to 0.4% year on year, missing forecast

China’s economic growth slowed sharply in the second quarter, expanding 0.4% year-on-year and missing expectations, official data showed on Friday, as widespread lockdowns to curb record COVID cases hit industrial activity and consumer spending.

15 Jul 2022, 07:40:04 AM IST

Asian stocks fall due to worries over US inflation

Stocks fell in Asia on Friday as the dollar held a surge that underscores concerns about a global economic slowdown as monetary policy tightens to tackle inflation.

MSCI Inc.’s Asian share gauge dropped for a second day, including a more than 1% drop in commodity-exporter Australia amid lower raw material prices.

The benchmark Nikkei 225 index was down 0.04%, at 26,632.24 in early trade, while the broader Topix index was down 0.51%

15 Jul 2022, 07:29:48 AM IST

Wall Street ends lower

Wall Street stocks finished mostly lower Thursday following another troubling inflation report as disappointing banking earnings set a downcast tone about the second-quarter earnings season.

The Dow Jones Industrial Average fell 142.62 points, or 0.46%, to 30,630.17, the S&P 500 lost 11.4 points, or 0.30%, at 3,790.38 and the Nasdaq Composite added 3.60 points, or 0.03%, at 11,251.19.


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