← Go back Jul 07, 2023
India's benchmark stock indices swung between gains and losses and were little changed through midday on Tuesday. Metal and auto sectors advanced, while fast moving consumer goods and PSU banks were under pressure. Chinese shares rallied on optimism that more economic support will come from Beijing, while traders also geared up for a number of key central bank rate decisions later this week. Technology shares in Hong Kong jumped 5% while a China property stock gauge on course to post the biggest gain since December as the nation’s top leaders used a crucial Politburo meeting to flag more aid. Other Asian markets were narrowly mixed, with the benchmark index in Australia marginally higher and Japanese equities swinging between gains and losses. Futures for European stocks slipped and contracts for the S&P 500 and the Nasdaq 100 were little changed. On Monday, the Dow Jones Industrial Average rose for an 11th straight day — its longest winning run since 2017. The S&P 500 traded near 4,550, while the Nasdaq 100 underperformed after a “special rebalance” that took effect Monday. As of 11:58 a.m., the S&P BSE Sensex Index was down 23 points or 0.04% at 66,360.07 while the NSE Nifty 50 Index was 2 points or 0.01% higher at 19,673.80. HDFC Bank Ltd., Reliance Industries Ltd., Tata Steel Ltd., UltraTech Cement Ltd., and NTPC Ltd. were the positively adding to the change in the Nifty 50 Index. Whereas, ITC Ltd., L&T Ltd., State Bank of India, Axis Bank Ltd., and Asian Paints Ltd. were negatively contributing to the change. The broader market indices were trading higher; the S&P BSE MidCap Index was up 0.08%, whereas S&P BSE SmallCap Index was 0.36% higher. Thirteen out of the 19 sectors compiled by BSE advanced while six sectors declined. S&P BSE Metal and S&P BSE Utilities rose the most. The market breadth was skewed in the favour of buyers. About 1,770 stocks rose, 1,604 declined, while 146 remained unchanged on the BSE. SpiceJet taken off DGCA’s enhanced surveillance regime. SpiceJet did suitable fleet maintenance to address DGCA finding. Source: Bloomberg SEBI clears IPO plans of TVS Supply Chain, Pyramid Technoplast. Source: Bloomberg Revenue up 18.6% at Rs 687.1 cr vs Rs 579.2 cr (Bloomberg est Rs 647.7 crore) Net profit up 101.7% at Rs 96.25 cr vs Rs 47.73 cr (Bloomberg est Rs 70.5 crore) EBITDA up 96.14% at Rs 117.37 cr vs Rs 59.84 cr (Bloomberg est Rs 93.7 crore) Margins at 17.08% vs 10.02% (Bloomberg est 14.5%) Source: Exchange Filing Shares of Jyothy Labs Ltd. rose as much as 10.31% intraday to hit a record high at Rs 267.45 apiece. Wins order worth Rs 80 crore from South Eastern Railway. South Eastern Railway order for civil, electrical and mechanical works. Source: Exchange Filing
Read more: bloombergquint
