Nifty Information technology index rose 0.7 percent led by the Coforge, Mindtree, L&T Infotech
Results on August 3:
Lupin, Adani Power, InterGlobe Aviation, Vodafone Idea, Godrej Consumer Products, Aditya Birla Capital, Adani Transmission, Adani Wilmar, BASF India, Birlasoft, Chambal Fertilisers, Devyani International, Firstsource Solutions, Gujarat Gas, Inox Leisure, KEC International, Paras Defence and Space Technologies, PI Industries, Sandhar Technologies, Satin Creditcare Network, Speciality Restaurants, Tata Coffee, and Zuari Agro Chemicals will be in focus ahead of June quarter earnings on August 3.
Moneycontrol Poll | MPC set to hike repo rate by at least 35 bps this week
Along with an increase in the repo rate, most economists polled expect the RBI to signal that price pressures in India may have peaked
Food delivery firm Zomato witnessed a series of block deals on Wednesday as part of which around 211 million shares changed hands, Bloomberg reported. Details of buyers and sellers were not available.
Shares of Zomato opened sharply lower after CNBC-TV18 said promoters of India’s largest food delivery aggregator would sell 7.8 percent stake in the company later in the day.
The stock declined over 9.6% at open after shares changed hands in over 30 trades. At 9.25 am, the scrip was trading at Rs 53.30 on BSE, down 4.1% from its previous close. Read More
Voltas shares drop 4% after Q1 net profit falls. Should you buy, sell or hold the stock?
The revenue from operations rose 55 percent to Rs 2,768 crore against Rs 1,785.20 crore, YoY
eClerx Services to consider bonus issue on August 9eClerx Services said that the board of directors will hold meeting on August 9 to consider issuance of bonus equity shares. The board will also consider un-audited financial results (consolidated and standalone) of the company for the quarter ended June 2022, on the same date.
Gainers and Losers on the BSE Sensex in the early trade:
Market Opens: Indian indices opened on positive note on August 3 with Nifty above 17350.
At 09:16 IST, the Sensex was up 155.47 points or 0.27% at 58291.83, and the Nifty was up 35 points or 0.20% at 17380.50. About 1208 shares have advanced, 731 shares declined, and 102 shares are unchanged.
Bharti Airtel, Eicher Motors, JSW Steel, Cipla and Power Grid Corp were among major gainers on the Nifty, while losers were Kotak Mahindra Bank, Coal India, Maruti Suzuki, Tata Motors and M&M.
Indian rupee opened marginally higher at 78.67 per dollar on Wednesday against Tuesday’s close of 78.71.
Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities
Strong Asian market cues are expected to help key benchmarks advance further in early trade Wednesday, despite a fall in the US markets in overnight trades. Nifty is likely to trade on the front foot amidst renewed optimism in the backdrop of the return of foreign investors in Indian equities, with FIIs buying equities to the tune of Rs 825 crore on Tuesday.
Technically, the biggest intraday make-or-break support for Nifty is seen at 17189 mark. While the gap between the 2-year and 10-year note US bond yields is the widest in over two decades, tensions between the US and China over Taiwan are the latest catalyst for stock markets across the globe.
Daily Voice | This CIO stays cautious while taking positions in IT space as risks of earnings downgrade loom
If the US inflation which is around 9 percent remains sticky even at a slightly lower level, it might be difficult for Fed not to take more rate hikes. Hence it is difficult to foresee any immediate…
Market at pre-open: Benchmark indices are trading flat in the pre-opening session.
At 09:01 IST, the Sensex was up 35.57 points or 0.06% at 58171.93, and the Nifty was down 4.70 points or 0.03% at 17340.80.