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Stock Market Highlights on August 6: On the BSE, 17 out of 30 listed stocks of the Sensex ended in the red, with State Bank of India, Mahindra & Mahindra, and Bharti Airtel being the top drags

Image: Bloomberg

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		<b>Stock Market Highlights on Tuesday, August 6, 2024:</b>&nbsp;Equity benchmark indices, the BSE Sensex and the NSE Nifty50, pared early gains to settle in the red on Tuesday. The BSE Sensex ended at 78,593, down 166 points or 0.21 per cent. The index had jumped 1.38 per cent to hit the day&#39;s high of 79,852.08 during the intraday trade.&nbsp;</div>
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		The NSE Nifty50, on the other hand, ended 63 points or 0.26 per cent down at 23,992. It had climbed 1.35 per cent to the day&#39;s high of 24,382.6 during intraday trade.<br />
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			29 out of the 50 constituents of the NSE Nifty50 ended lower, with HDFC Life Insurance Company and SBI Life Insurance Company being the top laggards, falling up to 4.28 per cent. BPCL, Shriram Finance, and Mahindra & Mahindra were the other leading losers on the Nifty50 index.</div>
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			On the BSE, 17 out of 30 listed stocks of the Sensex ended in the red, with State Bank of India, Mahindra & Mahindra, and Bharti Airtel being the top drags.</div>
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			The fear index, India VIX, ended at 18.74 points, down 7.97 per cent, on Tuesday.</div>
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			The broader indices settled in the red, with the Nifty Next 50 index being the top laggard, falling 0.92 per cent. Nifty Midcap 100 and Smallcap 100 indices also ended lower, down 061 per cent and 0.39 per cent, respectively.</div>
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			Among the sectoral indices, Financial Services, Banking, and Oil & Gas ended lower with a fall of up to 1.42 per cent. Meanwhile, IT, Metal, Realty, Media and FMCG managed to settle with gains of up to 0.84 per cent.</div>
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Stock Market Highlights, Aug 6: Sensex drops 1,259 pts from high, ends 166 pts down; Nifty below 24k

Business Standard

Stock Market Highlights, Aug 6: Sensex drops 1,259 pts from high, ends 166 pts down; Nifty below 24k | News on Markets - Business Standard

Nikkei up 11%, GIFT Nifty at 24,300, 6 new listings; Trade setup for Aug 6

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	Trading guide for Tuesday August 6, 2024:Equity benchmark indices are likely to witness a relief rally in opening trades on Tuesday in sync with a sharp recovery seen in Asian peers.</div>
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	At 07:00 AM, GIFT Nifty futures quoted around 24,300 levels &ndash; hinting at an over 200 points opening gap on the Nifty 50 index.<br />
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	On Monday, the Nifty 50 index had tumbled below the 24,000-mark and the Sensex gave-up the 79,000-level amid heavy sell-off in the global markets as investors panicked on likely impact of Japanese Yen carry trade unwinding. <a href="https://www.business-standard.com/markets/news/nikkei-up-11-gift-nifty-at-24-300-6-new-listings-trade-setup-for-aug-6-124080600069_1.html" target="_blank"><strong>Read more</strong></a><br />
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Good morning readers! Catch all the market live updates here

Rupee at record low :: Rupee closes a fresh record low, nears 84/$-mark

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Broader markets :: MidCap index underperforms peers

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Sectoral trends :: Indices end mixed, PSU Bank slips over 1%

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Sensex Heatmap :: SBI, M&M, Airtel settle as top laggards, fall up to 1.8%

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Stock Market Closing Bell :: Sensex slips 166 pts

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Stock Market Closing Bell :: Nifty ends below 24,000

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Crypto markets rebound on Tuesday amid global equity market recovery

The trading range for BNB for the last 24 hours is $409.82 - $492.90. While BNB has fallen 3.51 per cent in the last month, the cryptocurrency has rallied 57.38 per cent year-to-date. <a href="https://www.business-standard.com/markets/news/crypto-markets-rebound-on-tuesday-amid-global-equity-market-recovery-124080600777_1.html?1722937919" target="_blank"><strong>READ MORE</strong></a>

Stock Market Check :: Nifty slips below 24,000

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This smallcap stock has surged 100% from June low; zoomed 3694% in 4 years

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	Shares of Gravita India hit a new high of Rs 1,838.40, as they surged 14 per cent on the BSE in Tuesday&rsquo;s intra-day trade on heavy volumes. The stock of industrial minerals company surpassed its previous high of Rs 1,765.95 touched on July 25. <a href="https://www.business-standard.com/markets/news/this-smallcap-stock-has-surged-100-from-june-low-zoomed-3694-in-4-years-124080600667_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Don't buy textile stocks on Bangladesh crisis, wait for dips: Analysts

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	Leveraging the crisis in Bangladesh, textile and garment-related stocks surged up to 11 per cent on the National Stock Exchange (NSE) on Tuesday. Analysts, however, caution against chasing the rally as the move may provide only a &quot;temporary window&quot; for gains. <a href="https://www.business-standard.com/markets/news/crisis-in-bangladesh-textile-stocks-zoom-gokaldas-kitex-rally-up-to-11-124080600244_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="textile" class="imgCont" height="400" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-11/02/full/1698947093-6455.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="textile" width="600" /></div>
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Govt to not give any relaxation in its Rs 32,000 cr GST demand on Infosys

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	The Indian government is not considering any relaxation in the tax demand it sent to Infosys last month, according to a government source. <a href="https://www.business-standard.com/companies/news/govt-to-not-give-any-relaxation-in-its-rs-32-000-cr-gst-demand-on-infosys-124080600440_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Graphite India stock jumps 8% after reporting Rs 237 cr net profit in Q1

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	The stock price of Graphite India surged up to 8.38 per cent to Rs 46.62 per share on the BSE in Tuesday&rsquo;s intraday deals. This came after the company reported a net profit of Rs 237 crore in the first quarter of financial year 2024-24 (Q1FY25). <a href="https://www.business-standard.com/markets/news/graphite-india-stock-jumps-8-after-reporting-rs-236-cr-net-profit-in-q1-124080600627_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Symphony shares hit 20% upper circuit on strong Q1 results, buyback plan

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	Electronics company Symphony shares were locked in the 20 per cent upper circuit at Rs 1.474.90 -- also its record high -- on Tuesday, August 6, 2024. <a href="https://www.business-standard.com/markets/news/symphony-shares-hit-20-upper-circuit-on-strong-q1-results-buyback-plan-124080600634_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="Cooling is hot business for Symphony" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2015-11/02/full/1446479425-803.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Cooling is hot business for Symphony" width="600" /></div>
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Tata Motors, Tata Power partner to boost EVs, solar power adoption

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	Tata Passenger Electric Mobility (TPEML) and Tata Power Renewable Energy (TPREL) have announced a strategic partnership to accelerate the adoption of electric vehicles (EVs) and solar power in India. This collaboration aims to create synergy between EVs and solar rooftop systems, offering customers a pathway to near-zero running costs and a reduced carbon footprint. <a href="https://www.business-standard.com/companies/news/tata-motors-tata-power-partner-to-boost-evs-solar-power-adoption-124080600617_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="tata motors" class="imgCont" height="400" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-07/02/full/1719859757-6589.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="tata motors" width="600" /></div>
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Agrochemicals shares rally up to 12% on healthy outlook; Rallis at new high

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	Shares of pesticides &amp; agrochemicals including fertilizers were in demand and rallied up to 12 per cent on the BSE in Tuesday&rsquo;s intra-day trade backed by heavy volumes. The buying at these counter has been attributed to healthy business outlook as the sentiment for the domestic market remain positie owing to the pick-up in monsoon activity. <a href="https://www.business-standard.com/markets/news/agrochemicals-shares-rally-up-to-12-on-healthy-outlook-rallis-at-new-high-124080600537_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Yen carry trade, US recession threat: How brokerages interpret developments

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	Global financial markets have been on a rollercoaster ride in the last few days, driven by fears of a recession in the US and worries that the US Federal Reserve may be too late in cutting rates to salvage the situation. That apart, the hike in rates by the Bank of Japan (BoJ) also rattled investors amid reports of unwinding of the Yen carry trade. Rising geopolitical tensions are also a spot of bother for the global financial markets. <a href="https://www.business-standard.com/markets/news/yen-carry-trade-us-recession-threat-how-brokerages-interpret-developments-124080600497_1.html?1722930953" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="Yen" class="imgCont" height="400" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-05/31/full/1717176931-0863.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Yen" width="600" /></div>
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IOC cancels green hydrogen tender again after bidders' disinterest

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	State-run Indian Oil Corporation Ltd (IOCL) has withdrawn a tender for constructing India&#39;s first green hydrogen plant at its Panipat refinery in Haryana for the second time, the Economic Times is reporting. <a href="https://www.business-standard.com/industry/news/ioc-cancels-green-hydrogen-tender-again-after-bidders-disinterest-124080600520_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="green hydrogen" class="imgCont" height="400" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-12/06/full/1701871437-4883.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="green hydrogen" width="600" /></div>
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Patanjali stock hits new high, up 7% on hopes of higher rural demand

In the June 2024 quarter (Q1FY25), fast-moving consumer goods (FMCG) company, Patanjali Foods, reported a 200 per cent increase in net profit to Rs 262.9 crore, against Rs 87.8 crore in the year ago period. The profitability was driven by reduced volatility in edible oil prices along with stable performance in the food and FMCG portfolio. <a href="https://www.business-standard.com/markets/news/patanjali-stock-hits-new-high-up-7-on-hopes-of-higher-rural-demand-124080600447_1.html?1722929537" target="_blank"><strong>READ MORE</strong></a>

HCC's stock price tanks 5% after reporting a net loss of Rs 2.5 cr in Q1

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	The stock price of Hindustan Construction Company (HCC) fell up to 4.81 per cent to Rs 46.62 per share on the BSE in Tuesday&rsquo;s intraday deals. This came after the company reported a net loss of Rs 2.5 crore in the first quarter of financial year 2024-24 (Q1FY25). <a href="https://www.business-standard.com/markets/news/hcc-s-stock-price-tanks-5-after-reporting-a-net-loss-of-rs-2-5-cr-in-q1-124080600489_1.html?1722929046" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="Construction" class="imgCont" height="400" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-04/15/full/1713204637-4364.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Construction" width="600" /></div>
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Brigade Ent climbs 11% on healthy Q1FY25 results; profit more than doubles

Shares of Brigade Enterprises rallied as much as 10.88 per cent to hit an intraday high of 1,246.80 per share on Tuesday, August 6, 2024. <a href="https://business-standard.com/markets/news/brigade-ent-climbs-11-on-healthy-q1fy25-results-profit-more-than-doubles-124080600472_1.html?1722928387" target="_blank"><strong>READ MORE</strong></a><br />
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Unicommerce eSolutions IPO opens today: GMP up 23%; Should you subscribe?

<div>
	Unicommerce eSolutions IPO opened for the public subscription today. The company seeks to raise Rs 276.57 crore from the public issue. The unlisted shares of Unicommerce eSolutions are trading at a premium of Rs 25 or 23.15 per cent in the grey market on the first day of its opening. This GMP indicates strong demand for the Unicommerce eSolutions IPO. <a href="https://www.business-standard.com/markets/news/unicommerce-esolutions-ipo-opens-today-gmp-up-23-should-you-subscribe-124080600415_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Angel One stock up 3% on strong July biz update; client base surges 65% YoY

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	Shares of Angel One jumped as much as 2.72 per cent to hit an intraday high of Rs 2,178.95 per share on Tuesday, August 06, 2024. <a href="https://www.business-standard.com/markets/news/angel-one-stock-up-3-on-strong-july-biz-update-client-base-surges-65-yoy-124080600418_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="Angel One" class="imgCont" height="400" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-10/13/full/1697189114-5702.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Angel One" width="600" /></div>
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Technical Outlook: 'Resistance is anticipated in the range of 24,500 to 24,600'

<div>
	- Today, Indian equity benchmark indices surged in early trading after a significant decline the previous day. For Nifty, the index is currently in a weak position, with the next support level expected to be between 23,700 and 23,800. On the upside, resistance is anticipated in the range of 24,500 to 24,600.</div>
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	&nbsp;</div>
<div>
	- In Bank Nifty, significant call writing activity is observed between the 51,500 and 52,000 levels, suggesting robust resistance. Meanwhile, the put base is firmly positioned at the 49,000 and 50,000 strikes, highlighting crucial support zones.</div>
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	&nbsp;</div>
<div>
	- As we look ahead, ongoing volatility is expected due to the forthcoming RBI policy announcement and a range of global uncertainties, including the unwinding of Yen carry trades, recession fears in the US, and escalating tensions in the Middle East.&nbsp;</div>
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	&nbsp;</div>
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	- In light of these factors, adopting a cautious, wait-and-watch approach may be advisable before committing to new positions.</div>
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	&nbsp;</div>
<div>
	Views By: Shrey Jain, Founder and CEO, SAS Online</div>

V-Mart Retail hits life high on reporting turnaround Q1 performance

V-Mart Retail surged 11.32 per cent to Rs 3,616.65 after the company reported a net profit of Rs 12.14 crore in Q1 FY25 as against net loss of Rs 21.94 crore posted in Q1 FY24. Revenue from operations jumped 15.85 per cent year on year (YoY) to Rs 786.08 crore in the quarter ended June 30, 2024. <a href="https://www.business-standard.com/markets/capital-market-news/v-mart-retail-hits-life-high-on-reporting-turnaround-q1-performance-124080600340_1.html" target="_blank">READ MORE</a>

Market update :: Sensex trades up nearly 600 pts

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Motherson Sumi Wiring deserves rich valuations, say analysts post Q1 show

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	Shares of Motherson Sumi Wiring India soared up to 4.69 to Rs 70.03 per share on the BSE in Tuesday&rsquo;s intraday deals. This came after the company reported a 21 per cent rise in profit after tax (PAT) on a year-on-year (YoY) basis for the first quarter of financial year 2024-24 (Q1FY25). Analysts believe that Motherson Wiring&rsquo;s Q1 show was muted due to start-up costs of two new plants, resulting in lower-than-estimated growth in profits and operating margins. <a href="https://www.business-standard.com/markets/news/motherson-sumi-wiring-deserves-rich-valuations-say-analysts-post-q1-show-124080600366_1.html?1722924121" target="_blank">READ MORE</a><br />
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FirstCry IPO opens today: 7 things to know before you bid for the issue

The initial public offering (IPO) of Brainbees Solutions, the parent company of the kidswear brand FirstCry, opens for public subscription today. The company aims to raise Rs 4,193.73 crore from the public issue. Established in 2010 by Supam Maheshwari and Amitava Saha, FirstCry is one of India&#39;s leading e-commerce companies in the kids and babies shopping sector, with its headquarters in Pune. <a href="https://www.business-standard.com/markets/news/firstcry-ipo-opens-today-7-things-to-know-before-you-bid-for-the-issue-124080600314_1.html?1722922659" target="_blank">READ MORE</a><br />
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	<img align="" alt="IPO" class="imgCont" height="400" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-11/30/full/1701357200-6702.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="IPO" width="600" /></div>
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More regulation needed to curb retail speculation in F&O: Amisha Vora

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	Volatility has gripped Indian stock markets at a time when the market regulator Securities and Exchange Board of India (Sebi) has introduced various measures to curb speculative bets in the futures &amp; otpions (F&amp;O) segment. AMISHA VORA, chairperson &amp; managing director, PL Capital - Prabhudas Lilladher, tells Nikita Vashisht in an email interview that despite global uncertainties, India&#39;s strong fundamentals provide a solid foundation for sustained market growth, mitigating concerns of a bubble. <a href="https://www.business-standard.com/markets/news/more-regulation-needed-to-curb-retail-speculation-in-f-o-amisha-vora-124080600271_1.html?1722921302" target="_blank"><strong>READ MORE</strong></a><br />
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		<img align="" alt="Amisha Vora" class="imgCont" height="400" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-11/16/full/1668601960-4003.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Amisha Vora" width="600" /></div>
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Patel Engineering stock price zooms 7% as JV bags project worth Rs 318 cr

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	Shares of Patel Engineering surged as much as 6.98 per cent to hit an intraday high of Rs 57.25 per share on Tuesday, August 6, 2024.&nbsp; However, at 10:26 AM, shares of the company were trading 2.13 per cent higher at Rs 54.65 per share. In comparison, BSE Sensex was trading 0.84 per cent higher at 79,419.59 levels. <a href="https://www.business-standard.com/markets/news/patel-engineering-stock-price-zooms-7-as-jv-bags-project-worth-rs-318-cr-124080600286_1.html?1722920677" target="_blank"><strong>READ MORE</strong></a><br />
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Nomura eyes three US Fed rate cuts in 2024; RBI likely to go its own way

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	The Japanese brokerage firm Nomura has predicted a total 75 basis points (bp) in rate cuts this year after the significant dovish surprise in the July employment report. The brokerage firm in a recent report said that the US Federal Reserve may begin rate cuts as early as next month with a 25 bp cut in September, with following rate cuts in November and December of 25 basis points each against an earlier expectation of two rate cuts in&nbsp; September and December of 25 bp.&nbsp; <a href="https://www.business-standard.com/markets/news/nomura-eyes-three-us-fed-rate-cuts-in-2024-rbi-likely-to-go-its-own-way-124080600266_1.html?1722919895" target="_blank"><strong>READ MORE</strong></a></div>
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Akums Drugs IPO listing: Shares make muted debut on BSE, NSE; Book profit?

Shares of Akums Drugs and Pharmaceuticals made a positive debut on the stock exchanges on Tuesday. Akums Drugs&#39; shares were listed at a 6.77 per cent premium at Rs 725 on the BSE, compared to the issue price of Rs 679. On the NSE, the company&#39;s shares also listed at Rs 725, offering investors a return of Rs 46, or nearly 7 per cent, per share after listing. <a href="https://www.business-standard.com/markets/news/akums-drugs-ipo-listing-shares-make-muted-debut-on-bse-nse-book-profit-124080600265_1.html?1722919803" target="_blank"><strong>READ MORE</strong></a><br />
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Coforge, Tech Mahindra and HCL Tech lift Nifty IT index over 2%

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Broader markets :: SmallCap index outperforms

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Sectoral trends :: Banking, Auto, IT, and Metal indices lead gains up to over 2%

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Sensex Heatmap :: All the 30 index stocks trade in green; Tata Motors up 4%

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Stock Market Opening Bell :: Nifty climbs over 1% in early trade

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Stock Market Opening Bell :: Sensex jumps over 1% in early deals

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Stock market pre-open session :: Nifty advances 134 pts

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Stock market pre-open session :: Sensex adds over 220 pts

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Currency Check :: Rupee opens nearly flat

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US Fed's high rates spur slowdown fear, heightens chances of recession

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	The turmoil shaking global financial markets reflects a sudden fear that the Federal Reserve may have held its key interest rate too high for too long, heightening the risk of a US recession.</div>
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	Economists and Wall Street traders now expect the Fed to cut its benchmark rate, which influences borrowing costs for consumers and businesses, much faster than they thought just a week ago. Chair Jerome Powell has often stressed that the Fed could quickly lower rates if it decides that it&#39;s needed to bolster the economy. <a href="https://www.business-standard.com/world-news/us-fed-s-high-rates-spur-slowdown-fear-heightens-chances-of-recession-124080600017_1.html" target="_blank"><strong>Read more</strong></a><br />
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Gold price slips Rs 10 to Rs 70,570, silver climbs Rs 100 to Rs 85,800

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	<strong>Gold Price Today: </strong>The price of 24-carat gold fell Rs 10 in early trade on Tuesday, with ten grams of the precious metal trading at Rs 70,570, according to the <em>GoodReturns</em> website.<br />
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	The price of silver climbed Rs 100, with one kilogram of the precious metal selling at Rs 85,800. The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 64,690. <a href="https://www.business-standard.com/markets/commodities/gold-silver-price-today-gold-price-slips-rs-10-to-rs-70-570-silver-climbs-rs-100-to-rs-85-800-124080600086_1.html" target="_blank"><strong>Read more</strong></a></div>
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Nikkei zooms 11%; why are the Asian markets rallying on Tuesday?

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	After Monday&#39;s mayhem, global markets mainly Asian were seen quoting with astounding gains in early deals, with Japan&#39;s Nikkei up nearly 11 per cent at the highest point of the day.</div>
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	As of 07:45 AM, Nikkei had pared some gains, but still was up strongly by 8.5 per cent at 34,112. Among other beaten down markets, Kospi rallied nearly 5 per cent and Taiwan 3 per cent in intra-day deals. Hang Seng and Shanghai Composite were trading with gains of 1 per cent each. <a href="https://www.business-standard.com/markets/news/nikkei-zooms-11-why-are-the-asian-markets-rallying-on-tuesday-124080600098_1.html" target="_blank"><strong>Read more</strong></a><br />
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Brokerage call: Nomura says three rate cuts lined up by US Fed this year

The Japanese brokerage firm Nomura has predicted a total&nbsp;75 basis points (bp) in rate cuts this year after the significant dovish surprise in the July employment report.<br />
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&gt;&gt;Consecutive 25 bp cuts in September, November and December (previously: two 25bp cuts in September and December).<br />
&gt;&gt; Deterioration in the labour market is the start of a worsening trend, but the balance of risks is now skewed to the downside.<br />
&gt;&gt;If job losses continue to trend higher or financial conditions tighten significantly, it would raise the likelihood of 50 bp cuts.<br />
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Charts suggest downside for Nifty PSU Bank, Fin Svcs; here's how to trade

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	<strong>Nifty Financial Services Index</strong></div>
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	The Nifty Financial Services Index is currently experiencing a downward trend in the near term. Despite this decline, the overall trend remains bullish, suggesting that the current downtrend should be seen as a temporary pullback within a larger uptrend. This perspective is critical for traders and investors to maintain a strategic approach. <a href="https://www.business-standard.com/markets/news/charts-suggest-downside-for-nifty-psu-bank-fin-svcs-here-s-how-to-trade-124080600057_1.html" target="_blank"><strong>Read more</strong></a><br />
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		<img align="" alt="Commercial banks mobilised ~1.45 trillion through certificates of deposit (CDs) in June to strengthen their balance sheets ahead of the quarter-end, according to data from the Clearing Corporation of India." class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-07/01/full/1719857760-052.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="Commercial banks mobilised ~1.45 trillion through certificates of deposit (CDs) in June to strengthen their balance sheets ahead of the quarter-end, according to data from the Clearing Corporation of India." /></div>
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Bajaj Housing Finance, four others get Sebi's approval to go public

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	The market regulator Securities and Exchange Board of India (Sebi) has given the nod to the Rs 7,000 crore initial public offer (IPO) of Bajaj Housing Finance. The housing finance firm, which is a wholly-owned subsidiary of Bajaj Finance, is eyeing to raise Rs 4,000 crore through fresh issuance while the public offer will also have an offer for sale.</div>
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	The firm had filed its documents with the regulator on June 10 and received the approval on Monday. <a href="https://www.business-standard.com/markets/ipo/sebi-gives-approval-to-bajaj-housing-finance-ipo-and-four-others-124080501134_1.html"><strong>Read more</strong></a><br />
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India Inc gives weakest performance on profit front in seven quarters

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	India Inc has reported a muted start to the financial year 2024-25, with a decline in net earnings and a modest single-digit uptick in revenues.</div>
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	An analysis of 488 companies that have released their results for the June 2024 quarter reveals a 1.6 per cent year-on-year (Y-o-Y) drop in combined net profit -- the weakest performance in the past seven quarters. <a href="https://www.business-standard.com/industry/news/india-inc-gives-weakest-performance-on-profit-front-in-seven-quarters-124080501386_1.html" target="_blank"><strong>Read more</strong></a><br />
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Federal Reserve's policymakers signal rate cuts ahead, but not recession

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	US central bank policymakers pushed back on Monday against the notion that weaker-than-expected July jobs data means the economy is in recessionary freefall, but also warned that the Federal Reserve will need to cut rates to avoid such an outcome.</div>
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	Many of the latest job report&#39;s details leave &quot;a little more room for confidence that we&#39;re slowing but not falling off a cliff,&quot; San Francisco Fed President Mary Daly said at an event in Hawaii. <a href="https://www.business-standard.com/world-news/federal-reserve-s-policymakers-signal-rate-cuts-ahead-but-not-recession-124080600067_1.html" target="_blank"><strong>Read more</strong></a></div>
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Stocks to watch on August 6: RIL, Bharti Airtel, Lupin, TVS Motor, ONGC

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	<strong>Bharti Airtel:</strong>Telecom giant Bharti Airtel reported a sharp 158 per cent year-on-year (Y-o-Y) jump in net profit in the June quarter (Q1FY25). This comes amid greater focus on cost efficiencies, rising number of 4G and 5G users, and continued growth in the Wi-Fi category. Beating industry estimates, the telco&rsquo;s net profit for Q1FY25 reached Rs 4,159 crore, up from Rs 1,612 crore in the year-ago period. Sequentially, the profit more than doubled. It was Rs 2,071 crore in the previous quarter.&nbsp;&nbsp;</div>
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	<strong>Triveni Turbine: </strong>Triveni Turbine reported a 31.9 per cent increase in profit to Rs 80.41 crore and a 23 per cent rise in revenue to Rs 463.3 crore.&nbsp;</div>
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	<strong>Brigade Ent: </strong>Brigade Enterprises saw a whopping 268 per cent increase in profit to Rs 80.5 crore and a 64.8 per cent rise in revenue to Rs 1,077.7 crore.&nbsp;</div>
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	<strong>RIL:</strong> Reliance Industries is set to hold its fourty-seventh Annual General Meeting on August 29. <a href="https://www.business-standard.com/markets/news/stocks-to-watch-on-august-6-ril-bharti-airtel-lupin-tvs-motor-ongc-124080600064_1.html" target="_blank"><strong>Read more</strong></a><br />
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Stock Market Highlights, Aug 6: Sensex drops 1,259 pts from high, ends 166 pts down; Nifty below 24k

Stock Market Highlights on August 6: On the BSE, 17 out of 30 listed stocks of the Sensex ended in the red, with State Bank of India, Mahindra & Mahindra, and Bharti Airtel being the top drags

Nikkei up 11%, GIFT Nifty at 24,300, 6 new listings; Trade setup for Aug 6

Asian markets bounce back

US markets settle lower overnight

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