Lowe's Financial News

Cholamandalam Investment & Finance Company Ltd. fell 1.15 per cent to Rs 1043.9 in Thursday's session as of 12:18PM (IST) even as the equity benchmark Sensex traded 288.4 points lower at 65707.41. Earlier in the day, the stock witnessed a gap down start to the session.

SRF Ltd. traded 0.28 per cent higher in Thursday's session at 12:08PM (IST).

DLF Ltd. traded 0.07 per cent higher in Thursday's session at 11:37AM (IST).

Avenue Supermarts Ltd. gained 0.08 per cent to Rs 3629.65 in Thursday's trade as of 11:27AM (IST).

Ashok Leyland Ltd. gained 0.14 per cent to Rs 187.75 in Thursday's trade as of 11:17AM (IST). It hit a high of Rs 189.25 and low of Rs 187.1 during the session.

While interest rate-sensitive segments of affordable and low-income housing have started witnessing some impact of the rate hikes implemented earlier, any further increase may have resulted in hitting the demand in this segment. The central bank, through six successive increases since May 2022, had raised policy rates by a cumulative 250 basis points, taking the repo rate to 6.5% before hitting the pause in April. “The RBI's pause in rate hikes over the past few quarters will certainly pedal up the real estate growth pace.

Domestic benchmark index NSE Nifty fell 89.65 points to 19542.9, while the BSE Sensex traded 332.62 points down at 65663.19. On the other hand, Gandhi Special, Niraj Cement, Hindustan Comp, Antarctica Ltd and Prakash Pipes stocks hit their fresh 52-week highs today.

LTIMindtree Ltd. gained 0.69 per cent to Rs 5138.15 in Thursday's session as of 11:22AM (IST) even as the equity benchmark Sensex traded 341.41 points lower at 65654.4. Earlier in the day, the stock witnessed a gap down start to the session.

Brigade Enterprises(up 1.29 per cent), Phoenix Mills(up 1.27 per cent), SOBHA(up 0.72 per cent), Mahindra Lifespace Developers(up 0.61 per cent) and Indiabulls Real Estate(up 0.07 per cent) were among the top gainers. Prestige Estates Projects(down 3.2 per cent), Macrotech Developers(down 0.84 per cent) and Oberoi Realty(down 0.56 per cent) were the top losers on the index.

MphasiS Ltd. slipped 0.23 per cent to Rs 2357.2 in Thursday's trade as of 10:56AM (IST). The stock hit a high price of Rs 2376.4 and low of Rs 2338.9 during the session.

Suzlon Energy and Patanjali Foods during the June quarter, India's HNI (high net-worth individuals) investors bought the dip in Adani Transmission shares but found peace in the safety net of bluechips like HDFC Bank and Reliance Industries. An analysis of the June quarter shareholding pattern shows that HDFC Bank saw one of the highest increases in HNI ownership, followed by Jhunjhunwala-owned Star Health and Radhakishan Damani's Avenue Supermarts. HNI buying was also seen in Reliance Industries, Suzlon Energy, Patanjali Foods and Adani Transmission.

Godrej Consumer Products Ltd. rose 0.53 per cent to Rs 1024.25 in Thursday's trade. It hit an intraday high of Rs 1026.15 and low of Rs 1018.9, respectively, during the day.

Coforge(up 1.47 per cent), LTIMindtree Ltd(up 0.68 per cent), Wipro(up 0.45 per cent), L&T Technology(up 0.42 per cent) and Persistent Systems(up 0.19 per cent) were among the top gainers. HCL Technologies(down 0.8 per cent), Tata Consultancy(down 0.66 per cent), MPhasis(down 0.57 per cent) and Infosys(down 0.14 per cent) were the top losers on the index.

RBI) gain kept the policy rates unchanged at 6.5%. The repo rate is the rate of interest at which RBI lends to other banks."Our economy has continued to grow at a reasonable pace becoming the 5th largest economy in the world, contributing around 15% to global growth," said RBI Governor Shaktikanta Das. Talking about inflation, Das said headline inflation after reaching a low of 4.3% in May, rose in June, and will surge in July and August, said.

RBI MPC meeting: The Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday decided to keep policy rate unchanged for third time in a row during the bi-monthly monetary policy meeting. The RBI Governor said that the cumulative rate hike of 250 bps from FY23 is working its way through the economy. The repo rate increase cycle was paused in April this year after six consecutive rate hikes aggregating to 250 basis points since May 2022.

Tube Investments of India Ltd. gained 0.74 per cent to Rs 2954.4 in Thursday's trade as of 10:15AM (IST). It hit a high of Rs 2964.0 and low of Rs 2915.9 during the session.

The Reserve Bank of India has raised inflation aim to 5.4% from 5.1% forecast in June policy. The central bank today also held the benchmark rate steady for a third straight time at 6.5% and also retained stance by five-to-one vote to focus on withdrawal of accommodation. El Nino weather conditions and global food prices need to be watched closely and these developments warrant a heighetned vigil, RBI Governor and MPC Chair Shaktikanta Das said while announcing the policy decisions.

It was a day of strong consolidation for the markets. They opened lower but showed a remarkable recovery towards the end while closing on a modestly positive note.

Zomato post its Q1 results and CLSA has a buy view on Oil India. Goldman Sachs remains neutral on ZEEL while recommending a sell on Avenue Supermarts. Morgan Stanley has an equal-weight stance on Trent.

FOR THE past two years, policymakers in most of the world’s biggest economies have faced an excruciating stagflationary dilemma. They have wrestled simultaneously with high inflation, which demands steep interest rates, and fears of a recession, which would normally call for policy easing. The exception is China.

«I think China is headed to a serious problem of deflation and we saw that with the numbers today and that means that they are going to have to do a lot to prop up economic activity,» says Peter Cardillo, Spartan Capital Securities.In light of the current deflation that is getting reported in China, how do you think the government is going to react? Are you expecting stimulus measures? Are you expecting tax cuts? What exactly do you expect the government to do? Do you think there is going to be higher spending by the government?I think China is headed to a serious problem of deflation and we saw that with the numbers today and that means that they are going to have to do a lot to prop up economic activity. Probably incentives on taxes and if need be, continue with relaxed monetary policy and government intervention.