Stock Market LIVE: GIFT Nifty suggests subdued start for Sensex, Nifty; US markets end in red | News on Markets



Stock Market Live on Wednesday, July 24, 2024: The benchmarks Sensex, Nifty may see a negative to flat start on Wednesday as the post Budget surprises settle in among the investors. 

The GIFT Nifty futures also suggest subdued open, as they quoted 46 points lower to Nifty50 futures at 24,416 levels. 

On Wednesday, markets across the Asia-Pacific region gave out mixed signals with Japan’s key benchmark, the Nikkei 225 trading flat, down marginally by 0.08 per cent and the broader based Topix index falling by 0.26 per cent. 

South Korea’s Kospi index was down by 0.12 per cent, while the Kosdaq, which focuses on small-cap stocks, edged up by 0.86 per cent. 

Australia’s S&P/ASX 200 was listless, slipping slightly by 0.09 per cent. Hong Kong’s Hang Seng index, too, traded in green and was up by 0.12 per cent. 

In the US overnight, all three major indices fell as tech shares as investors assessed earnings of tech companies. The S&P 500 fell by 0.16 per cent, while the Nasdaq Composite gained 0.6 per cent. Meanwhile, the Dow Jones Industrial Average also increased by 0.14 per cent.

Stocks to watch

Bajaj Finance: It reported a net profit of Rs 3,912 crore, in line with the poll of Rs 3,973.7 crore. Net Interest Income (NII) stood at Rs 8,365 crore, also in line with expectations of Rs 8,445.1 crore. Year-on-year, profit and NII increased by 13.8 per cent and 24.5 per cent respectively. Gross Non-Performing Assets (NPA) rose to 0.86 per cent from 0.85 per cent quarter-on-quarter, while Net NPA increased to 0.38 per cent from 0.37 per cent in the previous quarter.

Hindustan Unilever: It posted revenue of Rs 15,339 crore, surpassing the expected Rs 15,100 crore. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) were Rs 3,606 crore, higher than the anticipated Rs 3,540 crore. Home care revenue grew by 4.6 per cent, exceeding the projected growth range of 2 to 3 per cent.

Tata Consumer Products: The company announced details of its rights issue to raise up to Rs 3,000 crore. The rights issue price was set at Rs 818 per share. Shareholders will receive one rights share for every 26 shares held as of the record date, July 27, 2024. The rights issue will open on August 5 and close on August 19, 2024.

United Spirits: The company reported a 1.7 per cent year-on-year increase in net profit to Rs 485 crore. Revenue rose by 3.5 per cent to Rs 2,761 crore. Ebitda remained unchanged at Rs 713 crore, with Ebitda margin at 25.8 per cent compared to 26.7 per cent last year.



Source link

(Visited 1 times, 1 visits today)

About The Author

You Might Be Interested In

Leave a Reply