Trade Financial News

Wall Street rallied following encouraging reports on inflation and on profits at 3M and other big U.S. companies

Two U.S. senators are calling on the Federal Trade Commission to investigate automakers selling customers’ driving data to brokers who package it and then sell it to insurance companies

Chinese President Xi Jinping called for further cooperation with Italy on Monday at a meeting with Italian Prime Minister Giorgia Meloni, saying the two countries were the ends of the historical Silk Road trade route

rupee declined to a record low of 83.7275/$1 on Monday due to month-end dollar demands by corporates, but further weakening of the currency was capped because of likely intervention by the Reserve Bank Of India. The local currency ended at 83.7275 against the US dollar on Monday, unchanged from its previous record low close on Friday, LSEG data showed. The currency hit its record intra day low of 83.74/$1 during Monday's trading session.

U.S. stock indexes are drifting in mixed trading ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates

Domestic benchmark index NSE Nifty ended 1.25 points up at 24836.1, while the BSE Sensex closed 23.12 points up at 81355.84.

Investors begin the week desperate for answers to questions about the near-term path of global monetary policy after conflicting signals from key economies upended markets.

McDonald's reported a surprise drop in quarterly global comparable sales on Monday, as the burger giant struggled to hold back budget-strapped customers from opting for cheaper meals at home.

Shares of Persistent Systems Ltd.(up 0.12 per cent) ended the day as top gainers in the pack.

Benchmark NSE Nifty closed 1.25 points up at 24836.1 amid buying in frontline bluechip counters.

Shares of Divi's Laboratories Ltd.(up 2.79 per cent), Zydus Lifesciences Ltd.(up 2.48 per cent), J B Chemicals & Pharmaceuticals Ltd.(up 1.45 per cent), Aurobindo Pharma Ltd.(up 1.36 per cent) and Lupin Ltd.(up 1.12 per cent) ended the day as top gainers in the pack.

Shares of Ashok Leyland Ltd.(up 4.05 per cent), Bharat Forge Ltd.(up 3.1 per cent), Mahindra & Mahindra Ltd.(up 1.57 per cent), Balkrishna Industries Ltd.(up 0.77 per cent) and Maruti Suzuki India Ltd.(up 0.7 per cent) ended the day as top gainers in the pack.

Adani Total Gas Ltd (ATGL), the city gas distribution arm of the Adani Group reported a 14% increase in consolidated net profit for the quarter ended 30 June 2024, helped by improved overall performance. Net profit came in at Rs 172 crore against Rs 150 crore in the June quarter of last fiscal.

SBI Cards and Payment Services Ltd. slipped 1.62 per cent to Rs 708.8 in Monday's trade. It hit a high of Rs 721.35 and low of Rs 703.0 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 735.13, while the 50-DMA was at Rs 719.79. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Cholamandalam Investment & Finance Company Ltd. gained 2.2 per cent to Rs 1442.1 in Monday's session as of 02:00PM (IST) even as the equity benchmark Sensex traded 23.59 points lower at 81309.13. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 1476.9 and a 52-week low of Rs 997.4 on NSE. Around 122066 shares changed hands on the counter till 02:00PM (IST).

Jubilant Foodworks Ltd. rose 1.47 per cent to Rs 590.0 in Monday's trade as of 01:29PM (IST) even as the benchmark Nifty ruled at 24852.9, up 18.06 points. The scrip had closed at Rs 581.45 in the previous session. The stock quoted a 52-week low of Rs 420.85 and a high of Rs 597.45. The company quoted a market-cap of Rs 38851.69 crore on the BSE.

Info Edge (India) Ltd. traded at Rs 7124.9 on BSE at 01:34PM (IST) on Monday, down 0.92 per cent from previous close. The scrip quoted a 52-week low price of Rs 3973.15 and a high of Rs 7261.55.

InterGlobe Aviation Ltd. traded 1.85 per cent down at Rs 4407.75 at 01:55PM (IST) on Monday, even as BSE benchmark Sensex gained 31.92 points to 81364.64. The stock had closed at Rs 4491.25 in the previous session. The stock quoted a 52-week high price of Rs 4610.0 and 52-week low of Rs 2334.95, respectively. As per BSE data, total traded volume on the counter till 01:55PM (IST) stood at 16378 shares with a turnover of Rs 7.18 crore.

Colgate-Palmolive (India) Ltd. traded 1.22 per cent up at Rs 3202.4 at 11:52AM (IST) on Monday, even as BSE benchmark Sensex gained 544.92 points to 81877.64. The stock had settled at Rs 3163.8 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 3260.3 and Rs 1891.7, respectively.

GAIL (India) Ltd. gained 1.04 per cent to Rs 233.0 in Monday's session as of 11:47AM (IST) even as the equity benchmark Sensex traded 565.39 points higher at 81898.11. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 239.2 and a 52-week low of Rs 111.5 on NSE. Around 222593 shares changed hands on the counter till 11:47AM (IST).

Nifty Bank, which has been underperforming in the last few weeks, looks ready for a smart recovery in the short term. «Going forward, a move above 51,500 might induce a decent rally towards 52,500. On the lower end, support is placed at 51,000,» says Rupak De, Senior Technical Analyst, LKP Securities. Edited excerpts: How would you read Friday's rally? It appeared as if traders were waiting for the July series to get over before buying again in the August series. Nifty had a decent rally on Friday following a period of downward consolidation in the previous few sessions. The index sustained above the 21 EMA at closing, setting the stage for solid gains in the near term. Banks, which had not been supportive in the last few sessions, came in with their full support. The sentiment looks apt for a strong rally in the market. Technically, Nifty has made a decisive move above 24,600, which acted as a strong resistance level in the recent past. Going forward, the trend is likely to remain strong as long as it stays above 24,500.