Market Highlights, July 24: Post Budget jitters, Bajaj twins drag Sensex 280 pts, Nifty below 24,450

Stock Market Highlights on Wednesday, July 24: Selling in Bajaj Finance, Axis Bank, Bajaj Finserv, HUL, Nestle India, Adani Ports, SBI, Kotak Bank, and IndusInd Bank weighed on the frontline indices

11:21 AM

India's economic activity expands in July, services PMI rises to 61.1

India’s economic activity expanded in July, fueled by a jump in services and a pickup in manufacturing, a flash survey by HSBC Holdings Plc showed. READ MORE

11:16 AM

HUL sees profit booking after Q1FY25 results beat estimates; down 3%

Shares of Hindustan Unilever, India’s largest fast-moving consumer goods (FMCG) company, witnessed profit booking on Thursday, following June quarter (Q1FY25) results, which surpassed street estimates. READ MORE

11:05 AM

Nvidia clears Samsung's HBM3 chips for use in processors for 1st time

Samsung Electronics' fourth-generation high bandwidth memory or HBM3 chips have been cleared by Nvidia for use in its processors for the first time, three people briefed on the matter said. READ MORE

10:48 AM

Cipla Q1 Preview: Restructure in biz may dent sales; profits to rise 7%

Cipla, the Indian pharmaceutical giant, is set to release its quarterly earnings for the first quarter of financial year 2024-25 (Q1FY25) on Friday, July 26, 2024. READ MORE

10:35 AM

Nestle Q1 Preview: Analysts eye strong revenue growth, margin expansion

Fast moving consumer goods (FMCG) player Nestle India will release its June quarter of financial year 2025 (Q1FY25) results on Thursday, July 25, 2024. READ MORE

10:21 AM

Union Budget 2024-25: Propelling India's evolution into 'Viksit Bharat'

With the Indian economy on a "strong wicket and stable footing" as described in the economic survey, Finance Minister Nirmala Sitharaman presented a transformative Union Budget 2024. Amidst the objective of fiscal consolidation, the Government of India has unveiled a suite of initiatives focusing on digital innovation, infrastructure development, trade expansion and social reforms geared towards fostering inclusive and sustainable development. READ MORE

 

10:10 AM

ITC @ Rs 500: Jefferies upgrades to 'Buy' on no tobacco tax rejig in Budget

ITC share price hit a record high of Rs 510.60 as it rallied nearly 4 per cent on the BSE in Wednesday's intraday trade. ITC stock has gained 10 per cent in two days in an otherwise subdued market. READ MORE

 

9:51 AM

Asian stocks subdued after lacklustre earnings from US tech; yen firms

Asian stocks were subdued on Wednesday after lacklustre earnings from US tech behemoths Tesla and Alphabet dented sentiment, while the yen hit a six-week high ahead of a central bank meeting next week where a rate hike remains on the table. READ MORE

9:44 AM

Budget 2024 took away property indexation: Gainers, losers, tax calculation

Budget 2024 presented by Nirmala Sitharaman on July 23 took away indexation on sale of property, while cutting the long-term capital gain (LTCG) on such a sale from 20 per cent to 12.5 per cent. The new norms are applicable with immediate effect, which is from July 23, 2024 onwards. Analysts at CLSA believe the development is unlikely to impact end-users who sell their existing house and reinvest the proceeds in a new house. READ MORE

9:40 AM

RIL gets US nod to resume crude imports from Venezuela despite sanctions

Reliance Industries Ltd. has secured US approval to resume importing oil from Venezuela despite White House sanctions on the country, according to people familiar with the development. READ MORE

9:30 AM

Union Budget 2024: Beginning of remarkable direct tax reforms by Modi 3.0

Post the recent elections, wherein the Modi government was re-elected to power, Finance Minister Nirmala Sitharaman unveiled her seventh Union Budget on July 23. It showcased a financial blueprint that signifies Prime Minister Narendra Modi's steadfast commitment to India's economic transformation. This budget, following the interim budget earlier this year, heralds a new chapter of fiscal prudence and visionary investments aimed at fortifying India's economic resilience. READ MORE

9:23 AM

Sector Update: Nifty Consumer Durables top gainer, up 0.9%

9:22 AM

Broader markets trade higher

9:20 AM

Index heatmap check: ITC is the top gainer, followed by Titan

9:18 AM

Opening bell: Sensex drops over 100 pts