Stock Market Highlights, August 1: Sensex rises 126 pts, Nifty holds 25,000; PSU stocks shine

Stock Market Highlights on Thursday, August 1, 2024: The day ended in favour of the bulls, with 28 out of the 50 listed companies on the Nifty50 ending higher, led by Power Grid Corporation of India

2:34 PM

Ashok Leyland falls 4% after July sales disappoint

The fall in the share price came after the automotive manufacturer reported disappointing July 2024 sales numbers. READ MORE

2:24 PM

India to record above-normal rainfall in August, September, predicts IMD

IMD said that rainfall over India in August and September would be 106 per cent of the long-period average of 422.8 mm. READ MORE

2:13 PM

This Mukul Agrawal-owned broking stock has zoomed 46% in 7 days

Nuvama Wealth Management hit a new high of Rs 6,712, surging 6% on the BSE in Thursday's intra-day. The stock has more-than-doubled in just six months. READ MORE

2:04 PM

COMMENT:: Rate cut hopes, corporate earnings lift Nifty to 25,000-mark

Fed Chair Jerome Powell in the post FOMC meeting conference gave a clear indication about a likely possibility of a rate cut in its September meeting though the decision to cut will be data dependent and not data-point dependent. 

 

Following this, the US-10 year bond yields have fallen by close to 4.03% vs 4.14% earlier and this has resulted to be positive for metal stocks back home as falling bond yields are positive for them. 

 

The event thus had a positive impact on global markets including the Indian market, which touched the psychological 25,000 mark on the Nifty which is also backed by good quarterly earnings, falling fiscal deficit and cooler inflation.

 

- Raj Vyas, Vice President - Research, Teji Mandi

 

1:56 PM

Tata Motors stock snaps 6-day winning streak on weak July 2024 sales

Tata Motors’ total sales (domestic & international markets) for July 2024 fell 10.7 per cent on a year-on-year (Y-o-Y) basis to 71,996 units, from 80,633 units in the same month last year (July 2023). READ MORE

1:46 PM

Hero FinCorp files papers with Sebi to raise Rs 3,668 crore via IPO

Hero FinCorp, the financial services division of two-wheeler manufacturer, Hero MotoCorp, has filed preliminary papers with capital markets regulator Sebi to raise Rs 3,668 crore through an Initial Public Offering (IPO). READ MORE

1:38 PM

Adani Energy stock zooms 18% in 3 days on buzz of strong demand for its QIP

According to media reports, AESL's $1-billion QIP got strong response and was subscribed over 6 times. READ MORE

1:26 PM

ALERT:: Adani Ports Q1 net jumps 47%; stock up 1%

Adani Ports in an exchange filing today reported 47 per cent growth in Q1 net profit at Rs 3,107 crore for Q1FY25 as against Rs 2,119 crore in Q1FY24. Total income rose by 21 per cent YoY to Rs 7,560 crore from Rs 6,248 crore.

1:17 PM

ALERT:: GHCL Q1 net plunges 65%; stock up 1%

GHCL in an exchange filing today reported 64.7 per cent drop in Q1 net to Rs 150.55 crore for Q1FY25 when compared with Rs 426.25 crore in Q1FY24. Total income declined by 17.5 per cent YoY to Rs 848.66 crore from Rs 1,029.14 crore.

1:05 PM

Crude Oil outlook: Global conflicts, rate cut optimism up bullish bets

The geo-political risk and expectation of three rate cuts from US fed has triggered rally in oil prices, says Mohammed Imran of Sharekhan by BNP Paribas. READ MORE

12:55 PM

Trading tips: What should you do with Bank of Baroda stock after Q1 result?

On July 31, Bank of Baroda reported a standalone net profit of Rs 4,458 crore for Q1FY25, rising 9.5 per cent over the previous year profit. READ MORE

12:43 PM

ALERT:: Sensex slips into red; down 400 points from record high

12:32 PM

Firstsource Solutions surges 13% on heavy volumes; zooms 75% from June lows

At 11:04 AM, FSL was trading 10 per cent higher at Rs 300.70 as compared to 0.15 per cent gain in the BSE Sensex. The average trading volume on the counter jumped nearly five-fold. A combined 33.14 million shares, representing 4.75 per cent of total equity of FSL, changed hands on the NSE and BSE today. READ MORE

12:20 PM

LIC, HDFC Life: Insurers stocks log up to 20% gain in July; what next?

HDFC Life Insurance Company

Upside Potential: 12%

 

HDFC Life stock ended July 2024, with a strong gain of 20.2 per cent - its biggest-ever single month gain till date. The formation of a long-bodied bullish candle implies a bullish bias for the stock in the medium-term. READ MORE

12:09 PM

ALERT :: Navneet Education to buyback 5 mn shares at Rs 200 per share

>> Board has approved the Buyback of up to 50,00,000 fully paid-up equity shares, representing up to 2.21  per cent of the total paid up equity shares, at a price of Rs. 200

>> This will be payable in cash for an aggregate amount of up to Rs 100 crore.

>> Buyback has been approved via tender offer.