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!