Lowe's Financial News

ideaForge Technology, Olectra Greentech, Orient Abrasive, Talbros Auto and Repro India, hit their fresh 52-week highs during Friday's trade on NSE. Benchmark NSE Nifty closed 165.5 points down at 19331.8 amid selling in frontline bluechip counters.

Shares of Punjab National Bank(up 2.37 per cent), Bank of Baroda(up 1.73 per cent) and State Bank of India(up 0.19 per cent) ended the day as top gainers in the pack. On the other hand, AU Small Finance Bank(down 3.57 per cent), IndusInd Bank(down 2.38 per cent), ICICI Bank(down 1.36 per cent), Kotak Mahindra Bank(down 1.27 per cent) and IDFCBANK(down 0.99 per cent) finished as the top losers of the day.

The price of Zuck Coin (ZUCK) has risen by more than 130% in the past 24 hours, with the new meme token enjoying a 30,000% gain since it first listed on Uniswap a few days ago.

da Vinci achieved this ambiguous effect with the use of sfumato, where he blurred the lines around Mona Lisa’s face. No matter how many times you look, you are unsure quite what is happening. The post-pandemic economy is like the Mona Lisa.

₹1,250 crore while Dhoni's net worth is believed to be around ₹1,040 crore. However, they stand no way close to the richest cricketer in the world. He is an Indian ‘Maharaja’.

inflation: that it is driven by fast-growing wages. Central bankers live in fear of wage-price spirals. Last year Andrew Bailey, governor of the Bank of England, asked workers to “think and reflect" before asking for pay rises.

equity market suffered strong losses on Friday (July 7) as investors jumped to take some money off the table amid weak global cues as concerns over rate hikes grew stronger amid strong US macro data. While there has been a long-running concern that the US economy was slipping into a recession, economic data have been showing that the world's largest economy remains strong despite a series of rate hikes by the US Fed.

US Federal Reserve would be more aggressive than expected in increasing interest rates this year. The local currency fell to the levels of 82.66 to a dollar, its lowest since May 30. It has weakened by nearly 0.84% against the American currency so far this week.

PI Industries Ltd. fell 2.42 per cent to Rs 3760.4 in Friday's session as of 02:04PM (IST) even as the equity benchmark Sensex traded 457.54 points lower at 65328.1. Earlier in the day, the stock witnessed a gap down start to the session.

Crompton Greaves Consumer Electricals Ltd. traded 0.9 per cent lower in Friday's session at 01:33PM (IST).

United Spirits Ltd. fell 2.74 per cent to Rs 917.85 in Friday's session as of 01:18PM (IST) even as the equity benchmark Sensex traded 433.97 points lower at 65351.67. Earlier in the day, the stock witnessed a gap down start to the session.

Domestic firms continued to lead the absorption in April-June’2023 and H1 2023, accounting for a share of 43% and 46%, respectively, mainly led by flexible space operators, technology corporates and BFSI firms according to a report by CBRE. The report points out that office leasing increased by 12% Q-o-Q and touched 13.9 mn. sq. ft. during the April-June’23 period. Bangalore, Chennai, and Pune led the absorption in Q2 2023, accounting for about 59% of the transaction activity. During the quarter (April-June’23), technology companies witnessed an uptick in activity, accounting for 29% of the leasing, followed by flexible space operators (18%), engineering & manufacturing firms (17%) and BFSI corporates (17%). “India is expected to be amongst the world’s fastest-growing economies amidst a likely weakening of global macroeconomic conditions. We believe that the share of domestic firms in leasing would also remain strong during the year; at the same time, their greater emphasis on return to offices (RTO) is also expected to boost their operations,” said Anshuman Magazine, Chairman & CEO — India, South-East Asia, Middle East & Africa, CBRE. Leasing in the BFSI sector was driven by deal closures by global capability centres of BFSI corporates, Indian banks, and insurance firms. Most of these corporate are focusing on expanding their footprint.

Colgate-Palmolive (India) Ltd. fell 0.22 per cent to Rs 1776.4 in Friday's trade as of 01:08PM (IST) even as the benchmark Nifty ruled at 19363.6, down 133.7 points. The scrip had closed at Rs 1780.35 in the previous session.

Dabur India Ltd fell over 2% in morning trade on the National Stock Exchange on Friday, despite a promising June quarter update. The firm highlighted signs of economic recovery in both urban and rural India, thanks to reduced inflation. However, the demand environment is yet to achieve a complete recovery even as it improved slightly sequentially, according to Dabur’s management.

FSN E-Commerce Ventures, which runs retail stores under the name Nykaa, expects its consolidated revenue for the first quarter of fiscal 2024 to grow in the mid-twenties on a year-on-year (YoY) basis. In its business update for Q1FY24, the online clothing and cosmetics retailer said that the consumption in the Beauty and Personal Care (BPC) categories continued to remain strong, in line with longer term trajectory, despite overall discretionary spend slowdown.  “Nykaa was witness to this with the success of this quarter flagship sale event ‘Pink Summer Sale’ during the quarter. Our BPC business NSV (net sales value) for the quarter is expected to grow in the early twenties YoY.

Avenue Supermarts Ltd. traded 0.21 per cent up in Friday's trade at 11:36AM (IST). Around 9,610 shares changed hands on the counter.

Tata Consultancy(up 0.08 per cent) were among the top gainers. HCL Technologies(down 1.07 per cent), L&T Technology(down 0.96 per cent), Persistent Systems(down 0.95 per cent), Tech Mahindra(down 0.91 per cent) and Infosys(down 0.81 per cent) were the top losers on the index.

Viji Finance, Rachana Infrastructu, Bohra Industries, Goldstar Power and Kshitij Polyline and others were among the stocks that touched their 52-week lows as of 10:35AM(IST)in Friday's session. Domestic benchmark index NSE Nifty fell 26.15 points to 19471.15, while the BSE Sensex traded 78.46 points down at 65707.18.

Vedanta Ltd. traded 0.61 per cent up in Friday's trade at 10:40AM (IST). Around 182,152 shares changed hands on the counter.

On the BSE, Dhyaani Tile and Mar(down 20.00 per cent), Aditya Ispat(down 12.64 per cent), PM Telelinks(down 12.40 per cent), Nila Spaces L(down 10.00 per cent) and Econo Trade(I)(down 8.66 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 11 stocks traded in the green, while 39 stocks traded in the red.

ideaForge Technology, Orient Abrasive, Windlas Biotech, Kalyan Jewellers Ind and Avalon Technologies, hit their fresh 52-week highs at 10:40AM(IST)on NSE. Benchmark NSE Nifty index fell 30.4 points to 19466.9 amid selling in frontline bluechip stocks.