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

7:57 AM

Sun Pharma Q1 Preview: R&D spends to hit margins; profits may rise 10%

Brokerages expect a satisfactory quarter for the pharma giant with a steady growth in the topline as well as bottomline on a year-on-year (YoY) basis, however, sequentially the bottomline may feel pressure. READ MORE

7:51 AM

ITC Q1 Preview: Weakness in agri, paperboard sectors may dent Ebitda margin

Motilal Oswal analysts predict a 3 per cent year-on-year volume growth in the Cigarettes segment for Q1 FY25. While rural recovery is not yet evident in the first quarter, anticipated government initiatives are expected to boost consumption. READ MORE

7:50 AM

Tata Motors Q1 Preview: JLR, Indian CV sales may fuel revenue growth

Automobile major Tata Motors (TaMo) is scheduled to release its financial results for the June quarter of the fiscal year 2025 (Q1FY25) on Thursday, August 1, 2024. READ MORE

7:46 AM

Gold price climbs Rs 10 to Rs 69,830, silver rises Rs 100 to Rs 86,600

The price of 24-carat gold climbed Rs 10 in early trade on Thursday, with ten grams of the precious metal selling at Rs 69,830, according to the GoodReturns website. The price of silver rose Rs 100, with one kilogram of the precious metal selling at Rs 86,600. READ MORE

7:30 AM

GIFT Nifty, Fed meet, Gold prices; all you need to know about markets today

In the last two sessions, the Sensex and the Nifty have climbed to record high levels, with the NSE benchmark now merely 50 points shy of the 25,000 milestone. READ MORE

7:15 AM

Ajit Mishra from Religare Broking suggests buying these three stocks today

Markets remained range-bound for the third successive session, ultimately gaining nearly half a per cent. After an initial uptick, the Nifty fluctuated within a narrow range, but buying in select heavyweight stocks during the final trades helped the index close near the day’s high at 24,951.15. READ MORE

7:12 AM

US FOMC holds rates steady at 5.25% to 5.5%, signals 1st cut nearer

Federal Reserve officials held interest rates at the highest level in more than two decades but signaled they are moving closer to lowering borrowing costs amid easing inflation and a cooling labor market. READ MORE

7:10 AM

NTPC, Tata Steel among top picks by Jigar S Patel of Anand Rathi for Aug 1

Apollo Pipes has recently demonstrated a classic technical pattern known as a triple bottom around its historical support level near the Rs 600-mark. A triple bottom is a bullish reversal pattern indicating that the stock has tested the same support level three times, each time rebounding, which suggests a strong demand zone at that price level. READ MORE

7:09 AM

Nifty Auto, Energy bullish on charts; check key levels and trading strategy

The Nifty Auto Index demonstrates a bullish trend on the charts in the near term. Despite this upward movement, the index has recently closed near its resistance levels, indicating a potential pause or reversal in its current rally. For the upcoming week, resistance levels are anticipated at 26,900 and 27,250. Given the proximity to these resistance points, it is prudent for traders to consider booking profits on any further rises. This approach helps lock in gains before the index potentially encounters selling pressure at these key resistance levels. READ MORE

7:06 AM

Brent crude at $80.72 per bbl

7:02 AM

Asian markets mixed after Powell hints at September rate cut

7:01 AM

US markets settle higher after Fed hints at September rate cuts; interest rates remains unchanged

7:00 AM

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