Indian indices ended the day in red after reaching all time high for 5th day.

Midcap supported the market.

Bank and Auto sectors dragged the market.

• Nifty Midcap and Smallcap were up by 0.29% and 0.26% respectively.
• 574 shares were up against 1213 shares.
• Rupee at 74. 24 per USD down by 0.14%.

Markets are closed tomorrow on account of Muharram.

Indian indices closed flat as we mentioned in the morning report.

Index was supported by Metals, Energy and Commodities.

Banking stocks were negative.

• Gold stabilizes after 3 days fall.
• 576 shares went up while 1222 shareswn.
• Rupee at 74.43 per USD up by 0.02%.

Sensex – 54525.93(-28.73)

Nifty – 16282.25(+2.15)

Indian Market

Indian indices has opened red and trading around 54300. The sell off continues in the market. There are chances for positive close today.

world MARKET

Asian shares are trading lower today with Straits Times, Hang Seng and Taiwan Weighted down 0.5 percent each, while Nikkei index is up 0.5 percent.

Stocks in News

Zomato – Net loss rose to 356 Cr at the end of June quarter. Total income was 916 Cr during the quarter.

Reliance Infra – Quoted Net loss of 95.15 Cr, revenue increased to Rs. 4336 Cr.

Pricol – Reported Consolidated profit of 5.94 Cr with a revenue of 319.91 Cr.

Results

Cadila Healthcare, Bajaj Electricals, Bata India and Birla Cable.

Happy Investing!

–Thirumalai Raj M.

Indian Market:

Indian Market opened negative today following yesterday’s downtrend. The market might end the week last day negative.

World Market:

Stocks fell in Japan, Australia and South Korea. Chinese stocks are also nearing bear market.

Stocks in News:

TCS: TCS reported lower consolidated profit at Rs. 9008 Cr.

Tata Steel: CARE upgraded the long term rating of the company to AA+ from AA.

Sangam Renewables: Divested its entire stake in its subsidiary Waacox Energy to ADitya Birla Renewables.

Results:

Delta Corp, Excel Realty N Infra, Integrated Capital Services and K&R Rail Engineering.

Happy Investing!

Indian Market:

Indian markets are about to open flat to negative as the SGX Nifty is in loss.

World Market:

Asian stocks opened steady Thursday, following gains for U.S. shares and Treasuries as the Federal Reserve minutes showed policy makers still awaiting more evidence of a robust economic recovery to set a timeline for trimming bond purchases.

Stocks in News:

• Adani group stocks: Gautam Adani is seeking a loan of about Rs 7,500 crore ($1 billion) to refinance existing debt of Mumbai International Airport Ltd, according to a Bloomberg report. Barclays Plc and JPMorgan Chase & Co. are among banks in discussions to provide the funds to Adani Airport Holdings Ltd. Deutsche Bank AG is also in talks to help with the financing. MIAL has a debt of about Rs 8,00

• Bajaj Healthcare: Received a licence from Defence Research and Development Organisation to manufacture and market 2-Deoxy-D-Glucose, used in treatment of Covid-19, in the domestic market.

• Kalyan Jewellers: Overall revenue for the June quarter was 55% of Q1FY20, the company said. A significant portion of the revenue for Q1FY22 was booked during the month of April. It also opened 9 showrooms in India in April, taking the total number of showrooms in India to 116. As of June 30, 92% of the company’s showrooms in India were operational.

Results:

TCS, Gammon Infrastructure Projects and Shyam Metallics & Energy.

Happy Investing!

Thirumalai Raj M.

Indian Market:

Indian Markets are about to open negative today. As the Singapore-traded SGX Nifty, an early indicator of India’s Nifty 50 Index’s performance, fell 0.36% to 15,783.50 as of 7 a.m.

World Market:

U.S. shares snapped a winning streak and Treasury yields retreated on concerns about the economic outlook and risks from Covid-19 variants. Due to this most Asian stocks fell.

Stocks in News:

• Titan Company: June quarter revenue grew by 117%. Jewellery unit sales grew by 107% on year primarily due to zero sales in April of last year.

• Mahindra & Mahindra: To acquire up to 31.2% in ReNew Sunlight Energy Pvt Ltd. The company plans to acquire up to 1.61 crore shares in RSEPL, in one or more tranches, for Rs 16.07 crore.

• HDFC: The National Housing Bank has imposed a monetary penalty on Housing Development Finance Corporation Ltd of Rs 4.75 lakh for non-compliance with certain provisions.

Happy Investing!

-Thirumalai Raj M

Indian Indices snapped a two day winning streak after hitting levels. The market got dragged by Auto and IT stocks for the day.

• Tata Motors hit a 10% lower circuit after JLR announced production cut due to shortage of chip next quarter.
• 20 out of 30 Sensex stocks closed red.
• Rupee at $74.55.
• Mid and Small ended green.
• Nifty Bank was up 0.9%.

SENSEX – 52861.18(-16.10) -0.04%

NIFTY – 15818.25(-18.82)-0.10%

Happy Investing!