Page 1557 - Markets News
Biggest market jump in a month adds Rs 3.4 trillion to investor wealth
1.4% jump comes on the back of easing recession fears, China policy support
 "Biggest market jump in a month adds Rs 3.4 trillion to investor wealth")
Rupee closes just 2 paise shy of 80 against US dollar as oil prices rise
Crude oil prices jumped on Monday as US President Joe Biden's talks with West Asian countries failed to culminate in an agreement to increase output
 "Rupee closes just 2 paise shy of 80 against US dollar as oil prices rise")
Valuations not comfortable in context of interest rates: Janakiraman R
Valuations have definitely come off over the past three quarters, said Janakiraman
 "Valuations not comfortable in context of interest rates: Janakiraman R")
From RIL to Maruti Suzuki, big mutual fund buys in June see turbulence
On July 1, shares of RIL crashed over 7 per cent, following the government imposing windfall taxes on domestic crude oil production and fuel exports
 "From RIL to Maruti Suzuki, big mutual fund buys in June see turbulence")
HDFC Bk: Merger with HDFC, NIM compression near-term concerns, say analysts
HDFC Bank Q1 review: Issues with management's bandwidth in managing the balance sheet post merger remains key risks for upside, said Nomura
 "HDFC Bk: Merger with HDFC, NIM compression near-term concerns, say analysts")
EPFO likely to enhance investment limit in equities to 20%: Report
The proposal is expected to be considered and approved during the EPFO trustees' meeting scheduled to be held on July 29 and 30, according to a source
 "EPFO likely to enhance investment limit in equities to 20%: Report")
Markets should be able to withstand inflation up to 8%: Credit Suisse
The key risks to India's economy, and thus the markets, stem from crude oil prices and a worsening balance-of payment situation, Credit Suisse analysts said
 "Markets should be able to withstand inflation up to 8%: Credit Suisse")
Equity investors richer by over Rs 4.73 trn in two days of rally
The recent sell-off had made some stocks attractive, hence traders bought IT, metals and telecom stocks, says an analyst
 "Equity investors richer by over Rs 4.73 trn in two days of rally")
Sensex zooms 760 pts, Nifty tops 16,250; IT index up 3%, HDFC Bank dips 1%
CLOSING BELL: The frontline indices climbed on the back of gains in Infosys, ICICI Bank, Kotak Bank, TCS, Axis Bank, L&T, SBI, and Reliance Industries
 "Sensex zooms 760 pts, Nifty tops 16,250; IT index up 3%, HDFC Bank dips 1%")
Wipro Q1FY23 net profit likely to drop 8.1% YoY, say analysts
At the bourses, shares of Wipro have tumbled over 43 per cent so far in calendar year 2022. In comparison, Nifty50 and the S&P BSE Sensex have tanked 8 per cent each.
 "Wipro Q1FY23 net profit likely to drop 8.1% YoY, say analysts")
Textile shares rally; VTL, Himatsingka, Nitin Spinners surge up to 19%
According to media reports, cotton price is expected to dip to Rs 60,000 per candy by December 2022 because of the slump in demand and the wait-and-watch strategy of the market players
 "Textile shares rally; VTL, Himatsingka, Nitin Spinners surge up to 19%")
HUL Q1 results preview: Muted volume growth likely due to demand slowdown
HUL Q1 results: Analysts say that the FMCG company's profit margins will continue to bear the brunt of high commodity prices, which were at peak highs for the most part of the quarter.
 "HUL Q1 results preview: Muted volume growth likely due to demand slowdown")
L&T gains 3% as realty arm signs 3 projects worth $1 billion in MMR
L&T Realty has entered into a binding agreement to jointly develop projects in South Mumbai, Western Suburbs and Thane worth Rs 8,000 crore, with development potential of 4.4 million square feet.
 "L&T gains 3% as realty arm signs 3 projects worth $1 billion in MMR")
Q1 impact: Mindtree eyeing 23% upside; HDFC Bank faces hurdle, charts show
Shares of Mindtree seem fairly placed and can rally up to 23 per cent, while ACC, HDFC Bank and ICICI Prudential Life need to conquer key levels for a fresh rally to emerge.
 "Q1 impact: Mindtree eyeing 23% upside; HDFC Bank faces hurdle, charts show")
Quick Heal zooms 20% as board to consider share buyback on July 21
In 2019 and 2021, Quick Heal had bought back 6.33 million equity shares each via tender offer.
 "Quick Heal zooms 20% as board to consider share buyback on July 21")
Luggage stocks in focus: Safari, VIP Inds surge up to 7% on demand revival
Analysts expect that the travel sector is poised for a resurgence on the back of demand revival and increase in consumers confidence.
 "Luggage stocks in focus: Safari, VIP Inds surge up to 7% on demand revival")
Bharat Electronics rallies 5% post Q1 results, strong order book position
With the healthy order book at Rs 55,333 crore, strong pipeline of orders and better margin profile, BEL is well placed to grow its earnings in double digits in the next couple of years, analyst say.
 "Bharat Electronics rallies 5% post Q1 results, strong order book position")
Stocks to Watch Today: HDFC Bank, ICICI Pru, Jindal Steel, Spandana, LTTS
Stocks to Watch Today: Alok Textiles, Ganesh Corporation, Hiedelbergcement, Bank of Maharashtra and Nelco to announce Q1 results on Monday.
 "Stocks to Watch Today: HDFC Bank, ICICI Pru, Jindal Steel, Spandana, LTTS")
Will Nifty50 reclaim 17,000 this week?
Equity markets wilted under selling pressure during four out of five trading sessions last week, amid fears of steeper interest rate hikes. Let's delve into the likely triggers for markets this week
 "Will Nifty50 reclaim 17,000 this week?")
Sebi clears appointment of BSE's Ashish Kumar Chauhan as NSE chief
The NSE will now have to obtain shareholders' nod before Chauhan can take charge
 "Sebi clears appointment of BSE's Ashish Kumar Chauhan as NSE chief")