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Indices soar, Sensex ends above 58,000, Nifty tops 17,300; Autos, Banks lead

Stock Market Today: Indices may continue to rally (Abhijit Bhatlekar/Mint)Premium
Stock Market Today: Indices may continue to rally (Abhijit Bhatlekar/Mint)

  • Share Market Close: Indices continued their rally on Monday and gained 1% in today's session. Sensex was up 545 points and Nifty 181 points. M&M and Tata Motors gained more than 6%, whereas Sun Pharma lost 2.5%.

Indian and other Asian indices ended in the green zone today. Chinese and Hong Kong opened in red but picked up in the latter half, whereas Nikkei closed at a 2-week high. European stocks also started the morning in green.

01 Aug 2022, 03:45:41 PM IST

Indices continued their rally on Monday. Sensex gained more than 500 points, whereas Nifty was up 180 points.

Indian benchmark indices continued their rally on Monday with a jump of around a per cent. Sensex crossed the 58,000 mark and closed at 58,115, which is a gain of 545 points. Nifty meanwhile soared by 181 points to finish the day at 17,340 points.

Auto, Banks, and Media stocks led the rally but Pharma and FMCG stocks were under pressure. Tata Motors and Mahindra and Mahindra had a shining day with a gain of 6%, whereas Sun pharma lost 2.5% in today's session.

Asian stocks ended in green extending the Friday rally on Wall Street as traders eyed corporate earnings reports. Tokyo stocks closed higher on Monday with Nikkei 225 index gaining 0.69%.

Hang Seng and Shanghai Composite indices started the day in red but ended high with a gain of 0.04% and 0.2%, respectively. Hong Kong’s economy contracted for a second consecutive quarter and declined 1.4%.

European stocks ticked higher in the morning session. Europe and Wall Street will be assessing the remarks from central bankers that higher interest rates are needed to bring inflation under control.

Sensex Close
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Sensex Close
01 Aug 2022, 03:30:02 PM IST

Barbeque-Nation Hospitality Q1 profit at ₹16.02 cr

Barbeque-Nation Hospitality Ltd, which operates one of the leading casual dining chains, on Monday reported a net profit of 16.02 crore for the first quarter ended June 30, 2022. The company had clocked a net loss 43.85 crore in the April-June period a year ago, Barbeque-Nation Hospitality said in a regulatory filing. Its revenue from operations was up three-fold to 314.86 crore during the quarter under review as against a low base of the corresponding quarter, when sales were impacted. In the April-June quarter of the last fiscal, Barbeque-Nation Hospitality's revenue from operations was at 101.97 crore.

01 Aug 2022, 03:21:34 PM IST

India exported ₹1,387 cr worth of defence items in Apr-Jun quarter

India exported around 1,387 crore worth of defence-related exports during the first quarter of the financial year 2022-23 (April-June), data showed. This exports-related information was given by Minister of State for Defence Ajay Bhatt in a written reply in Rajya Sabha on Monday. "However, names of countries cannot be divulged due to strategic reasons," the minister said. The value of defence exports during the financial year 2021-22 was at 12,815 crore.

01 Aug 2022, 03:17:29 PM IST

V Guard shares fall 6% in a year. Why brokerages have turned bullish on the stock?

Shares of V-Guard Industries have declined about 6% in a year's period, underperforming the benchmark BSE Sensex that is up more than 9% during the said period. However, brokerages are bullish on the stock after its better-than-expected Q1 FY23 results. (Full Report)

01 Aug 2022, 03:06:14 PM IST

Ashok Leyland's sales jump 58% in July

Commercial vehicle maker Ashok Leyland on Monday said its total vehicle sales, including exports, jumped 58% year-on-year to 13,625 units in July.

The company had sold a total of 8,650 vehicles in the same month last year, Ashok Leyland said in a statement.

Sales of Medium & Heavy Commercial Vehicles (M&HCV), which include trucks and buses, rose 113% to 8,148 units last month compared to 3,822 units sold in July 2021.

The Light Commercial Vehicle (LCV) segment sales also increased 13% to 5,477 units last month in comparison to July 2021 sales of 4,828 vehicles, Ashok Leyland said.

01 Aug 2022, 02:58:11 PM IST

Varun Beverages posts two-fold jump in June qtr PAT at ₹802 cr

Varun Beverages, PepsiCo's largest franchise bottler, on Monday reported a two-fold rise in consolidated profit after tax at 802.01 crore for June quarter on growth in revenue from operations and improvement in margins.

The company, which follows January-December financial year, had posted a PAT of 318.80 crore in April-June 2021.

Varun Beverages Ltd's (VBL) revenue from operations in the quarter stood at 5,017.57 crore, up two-fold as compared to 2,483.04 crore in the year-ago period, when sales channels were disrupted.

01 Aug 2022, 02:32:20 PM IST

Zomato to move to multiple CEO structure under larger organisation Eternal

Online food delivery aggregator Zomato is moving to a multiple CEO structure for its businesses that will be housed under a larger organisation called Eternal.

Zomato currently has four companies - Zomato, Blinkit, Hyperpure, and Feeding India. (Full Report)

01 Aug 2022, 02:26:44 PM IST

TERI, REMC to collaborate for developing Indian Railways' green projects

The Energy and Resources Institute (TERI) will collaborate with REMC on the development of green projects of the Indian Railways.

REMC is a joint venture of the Ministry of Railways and RITES Ltd.

Under the Memorandum of Understanding (MoU) signed between the two organisations on Monday, they aim to collaborate on areas related to green building, performance audits, energy efficiency projects, and research work related to net-zero targets of the railways.

01 Aug 2022, 02:25:41 PM IST

5G spectrum auction ends; provisional sale amount at ₹1.5 lakh crore

India's biggest ever auction of airwaves ended on Monday, with spectrum worth 1,50,173 crore being sold, sources said.

The auction that stretched into seven days ended this afternoon, the sources with direct knowledge of the matter said.

The provisional figure for the sale proceeds is 1,50,173 crore and the final numbers are being tallied, they added.

01 Aug 2022, 02:01:59 PM IST

Prabhudas Lilladher Pvt Ltd recommendations IOCL, Torrent, Cipla, Shriram Finance, M&M, Sun Pharma, and DCB Bank

Indian Oil: Rating: HOLD | CMP: Rs73 | TP: Rs81

Torrent Pharma: Rating: BUY | CMP: Rs1,529 | TP: Rs1,750

Cipla: Rating: BUY | CMP: Rs977 | TP: Rs1,110

Shriram Transport Finance: Rating: BUY | CMP: Rs1,380 | TP: Rs1,522

M&M: Rating: BUY | CMP: Rs1,164 | TP: Rs1,400

Sun Pharma: Rating: BUY | CMP: Rs943 | TP: Rs1,070

DCB Bank: Rating: BUY | CMP: Rs89 | TP: Rs120 

01 Aug 2022, 01:58:56 PM IST

Most Euro-Zone consumers didn’t actually save more in pandemic

Only a fifth of euro-zone households hoarded savings in the pandemic, suggesting most don’t have an extra buffer against inflation, European Central Bank analysis shows.

The study -- a pre release of the ECB’s economic bulletin published Monday -- is based on a survey in six of the largest economies of the region during 2020 and 2021. It found that 20% increased savings and 16% shrank them during that time.

“The distribution of savings accumulated during the Covid-19 pandemic may thus limit the extent to which these savings can shield the ongoing recovery of consumption from the adverse impact of the recent surge in energy prices," economists Maarten Dossche, Dimitris Georgarakos, Aleksandra Kolndrekaj and Francisco Tavares wrote in an article for the ECB’s monthly bulletin.

01 Aug 2022, 01:57:58 PM IST

Bharti Airtel shares rise ahead of record date for payment of final dividend

Shares of Bharti Airtel rose nearly 2% higher on the BSE in Monday's trading session as the stock started trading ex-dividend, a day ahead of the record date for its final dividend for the financial year ended March 31, 2022.

01 Aug 2022, 01:22:34 PM IST

European stocks rise as bank earnings show upside

European stocks ticked higher as corporate earnings continued to deliver upside surprises while investors assessed remarks from central bankers that higher interest rates are needed to bring inflation under control.

The Stoxx 600 Index rose 0.2%, led by banks, as HSBC Holdings Plc delivered better-than-estimated profits. S&P 500 contracts slipped following the best month for US stocks since November 2020, paring the annual loss in the underlying gauge to 13%.

01 Aug 2022, 01:21:00 PM IST

IT-BPM industry to add 3 lakh jobs by March 2023: Report

With rapid adoption of emerging technologies, the Information Technology and Business Process Management (IT-BPM) industry is expected to generate about 3 lakh jobs this fiscal year, according to a report.

The IT-BPM workforce is on the trajectory to grow 7 per cent in FY23, with the overall headcount increasing from 5.1 million to 5.45 million (close to 3 lakh jobs being created), the report by TeamLease Digital, the specialised staffing division of TeamLease Services said.

The 'Digital Employment Outlook Report for H1-2023' highlighted that the demand for digital skills will grow 8.4 per cent by the end of this fiscal year.

01 Aug 2022, 01:01:46 PM IST

Media index rallying, up 2%. Nazara leading the rally with 16% jump.

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01 Aug 2022, 12:44:54 PM IST

Bajaj Auto 2-wheeler sales drop by 5% to 3,15,054 units in July

Bajaj Auto on Monday reported a 5% drop in its total two-wheeler sales at 3,15,054 units in July 2022.

The Pune-based automaker had sold a total of 3,30,569 two-wheelers in July last year.

Domestic two-wheelers sales increased by 5% to 1,64,384 units in July 2022 against 1,56,232 units in the year-ago period while exports dropped 14 per cent to 1,50,670 units as compared to 1,74,337 units in the same month of last year, the company said in a regulatory filing.

01 Aug 2022, 12:28:40 PM IST

5G arrival may revive subdued smartphone market

The ongoing 5G auctions, which have garnered bids of nearly 1.5 trillion from Reliance Jio, Bharti Airtel, Vodafone Idea and new entrant Adani Group, could help revive India’s smartphone market, which is enduring an unprecedented slump. (Full Story)

01 Aug 2022, 12:26:57 PM IST

Japanese shares jump most in nearly two weeks on positive earnings

Japanese shares notched their best day in about two weeks on Monday, helped by some positive earnings, while uncertainty about the global growth outlook kept a lid on further gains.

The Nikkei share average rose 0.7% to close at 27,993 and the broader Topix climbed 1% to 1,960, their biggest gains since July 20.

01 Aug 2022, 12:13:26 PM IST

Rakesh Jhunjhunwala-backed stock jumps 16% after Q1 results

After hitting fresh 52-week low of 475.05 on NSE in July 2022, online gaming stock Nazara Technologies shares have rebounded strongly from its lows. After announcement of strong Q1 results on Friday last week, Nazara Technologies share price today opened with a big upside gap and went on to climb to its intraday high of 625.50 apiece levels, logging more than 16 per cent jump from its Friday close price of 530.10 per share. (Full Story)

01 Aug 2022, 12:03:15 PM IST

Noon Update: Indices are in green, up 0.6%. Sensex gains around 350 points and Nifty 100. Auto index driving the rally.

Mahindra and Mahindra had a healthy session today in which it went up 6% followed by Reliance. Sun Pharma tumbled by 3%

Sensex Noon 
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01 Aug 2022, 11:57:08 AM IST

Toyota Kirloskar reports highest monthly wholesales in July at 19,693 units

Toyota Kirloskar Motor (TKM) on Monday reported its highest-ever dispatches in a month at 19,693 units in July.

The company's wholesales were 50 per cent more than 13,105 units it sold in July 2021.

"The month of July has been phenomenal for the company. Both in terms of sales as well as our endeavour towards 'mass electrification' in India, as we unveiled the first self-charging strong hybrid electric vehicle in the high volume B SUV segment- the Urban Cruiser Hyryder," TKM Associate Vice-President (Sales, and Strategic Marketing) Atul Sood said in a statement.

01 Aug 2022, 11:49:12 AM IST

GST revenue collection for July second highest ever at ₹1.49 lakh crore

GST collections for July remained above 1.4 lakh crore for the fifth straight month. Gross GST revenue collected in the month of July 2022 at 1,48,995 crore, which was the second highest collection ever & 28% higher than the revenues in the same month last year, as per the data by the government released on Monday.

01 Aug 2022, 11:37:27 AM IST

MG Motor India posts 5% decline in retail sales in July

MG Motor India on Monday reported a 5% decline in retail sales at 4,013 units in July as production impacted by supply chain constraints.

The company had registered retail sales of 4,225 units in the same month last year.

In a statement, MG Motor India said it continues to work towards augmenting supplies and meeting customer demand persistently although production continues to be affected by the challenges of supply-chain constraints.

01 Aug 2022, 11:23:21 AM IST

Auto stocks rally. Index up 2.5%.

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01 Aug 2022, 11:19:47 AM IST

For DLF stock, positives are largely priced-in

Real estate developer DLF Ltd saw sales bookings of 2,040 crore in Q1FY23, down 25% sequentially. The June quarter is seasonally weak for the company, even so, pre-sales during the quarter were in-line with the quarterly run-rate indicated by the management, said analysts. (Full Report)

01 Aug 2022, 11:05:31 AM IST

Sun Pharma sheds 3% in today's session.

Sun Pharma
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Sun Pharma
01 Aug 2022, 10:50:40 AM IST

Axis Securities - Weekly Technical Picks

. Nifty started the week on a flat note and observed profit booking in the initial half however buying support at lower levels pulled index higher to close on a strong note. Nifty closed at 17158 with a gain of 439 points on a weekly basis

· Bank Bank Nifty started the week on a flat note and observed profit booking in the initial half however buying support at lower levels pulled the index higher to close on a strong note . Bank Nifty closed at 37491 with a gain of 752 points on a weekly basis.

· Container Corporation of India Limited has a buy at range 705 - 690. Holding period is 3 to 4 weeks.

· Gujarat Narmada Valley Fertilizers and Chemicals Limited has a buy at range 710 - 695. Holding period is 3 to 4 weeks.

· Bata India Limited has a buy at range 1945 - 1905. Holding period is 3 to 4 weeks.

· Coal India Limited has a buy at range 210-205. Holding period is 3 to 4 weeks.

01 Aug 2022, 10:38:15 AM IST

SpiceJet says all flight operations normal

Indian low-cost carrier SpiceJet said on Monday its flight operations remained normal and on schedule, days after the aviation regulator ordered the airline to slash its approved fleet to 50% this summer for eight weeks citing safety snags.

Load factor, a measure of how much of an airline's passenger carrying capacity has been used, was over 80% on Saturday and Sunday, the airline said in a statement.

01 Aug 2022, 10:37:28 AM IST

India's factory growth hits 8-month high as easing price pressures lift demand

India's factory activity expanded at its quickest pace in eight months in July, driven by solid growth in new orders and output as demand continued to improve on the back of easing price pressures, a private survey showed.

The survey results suggested the Indian economy has remained resilient, at least for now, despite concerns over faster interest rate hikes, massive capital outflows, a weakening rupee and a rapidly slowing global economy.

The Manufacturing Purchasing Managers' Index, compiled by S&P Global, jumped to 56.4 in July from June's 53.9, remaining above the 50-level separating growth from contraction for a thirteenth month.

01 Aug 2022, 10:21:34 AM IST

Yes Securities says BUY for IOCL, DLF, Equitas Bank, HDFC,  Emami, Aavas Financiers, Exide, Torrent Pharma

Zydus: ADD

DCB Bank: NEUTRAL

01 Aug 2022, 10:15:25 AM IST

Mahindra and Mahindra gains 6% in today's morning session.

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Mahindra & Mahindra
01 Aug 2022, 10:13:29 AM IST

Indian rupee firms to over 3-wk high; yields little changed

The Indian rupee firmed to a more than three-week high on Monday as the greenback languished on bets the U.S. Federal Reserve would scale back its pace of rate hikes as the world's biggest economy stares at a possible recession.

The partially convertible rupee was trading around 79.15 per dollar in early morning trade, its strongest since July 7, compared to a close of 79.25 on Friday.

India's 10-year government bond yields were little changed at 7.2983% after dropping by 9 basis points last week to 7.3196%.

01 Aug 2022, 10:07:56 AM IST

India records 16,464 new infections today

The data shows that a total of 16,112 people recovered from the coronavirus infection in the last 24 hours, taking the country's cumulative recoveries to 4,33,65,890. The recovery rate remains consistent at 98.48%.

In India, the daily positivity rate is 6.01%, while the weekly positivity rate is 4.80%. The country has conducted over 87.54 crore covid tests till date whereas 2,73,888 tests were conducted in the last 24 hours.

01 Aug 2022, 09:50:13 AM IST

IDFC First Bank shares rally after highest-ever profit in Q1. Should you buy?

Shares of IDFC First Bank rallied more than 3% to 39 apiece on the BSE in Monday's opening deals after the bank reported its highest ever net profit of 474 crore for the quarter ended June 2022, mainly driven by lower provisioning and higher income, up 38% from the previous quarter of March 2022. The private sector lender had posted a net loss of 630 crore in the year-ago quarter. (Full Report)

01 Aug 2022, 09:37:59 AM IST

Bitcoin slips after best month of 2022 as traders weigh recovery

Bitcoin declines after reaching the highest levels since mid-June on Saturday amid optimism that the market may have recovered from its worst levels.

The largest cryptocurrency dropped as much as 2.4% to $23,247 on Monday after hitting $24,658 on Saturday, its highest since June 13. Its 27% gain in July made for the best month since October. Ether slid as well after posting a 70% jump last month, its best since January 2021.

01 Aug 2022, 09:26:18 AM IST

Auto index jumps 2% at open. PSU Banks and Realty shed

Broad Indices
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01 Aug 2022, 09:24:11 AM IST

Sensex and Nifty opened flat on Monday. M&M gained around 5% at open, whereas Sun Pharma was down 2%.

Sensex Open
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01 Aug 2022, 09:08:16 AM IST

Commercial LPG cylinder prices slashed by ₹36, domestic unchanged

The cost of commercial liquid petroleum gas cylinders weighing 19 kilograms will be cheaper from Monday as their prices have been slashed by 36 per unit.

In the national capital Delhi, per unit of the commercial cylinder will now cost 1,976.5.

On July 6 too, rates for the 19-kilogram commercial cylinder were cut by 8.5 per unit.

01 Aug 2022, 09:07:29 AM IST

Stocks to Watch: Indian Oil, Bank of Baroda, Indian Bank, Zee Entertainment

ITC, Castrol India, Max Financial Services, Bajaj Consumer Care, and Zomato will be in focus as they declare their June quarter earnings today. (Full Report)

01 Aug 2022, 09:04:41 AM IST

Sensex in flat-to-green zone at preopen

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01 Aug 2022, 09:00:34 AM IST

Indian aviation sector 'absolutely safe'; foreign carriers that came to India reported 15 tech snags in last 16 days: DGCA chief

The country's civil aviation space is "absolutely safe" and all the protocols laid down by the International Civil Aviation Organisation (ICAO) are followed, he said.

Against the backdrop of a spate of technical snags suffered by Indian airlines in recent weeks and DGCA curtailing operations of SpiceJet, Kumar stressed that there is no need to panic as none of the events that have been reported/discussed had the potential to cause havoc.

"All the snags experienced are routine and happen with all airlines and all types of fleet. In the last 16 days, even for the foreign operators who come to India, we have seen 15 technical snags, which have been attended and rectified," Kumar told PTI in an interview.

01 Aug 2022, 08:47:55 AM IST

Multibagger stock of 2022: HFC jumps 85% in YTD after 900% rally in 7 years

Despite heavy sell-off on Dalal Street after outbreak of the Russia-Ukraine war, Indian stock market has managed to produce a good number of multibagger stocks and some stocks are in the cue to enter the big boys' club. BSE listed Star Housing Finance shares are one of them. In year to date (YTD) time, shares of this housing finance company (HFC) have surged from around 87 to 160 apiece levels, recording around 85 per cent rise in 2022. (Full Report)

01 Aug 2022, 08:36:09 AM IST

RBI likely to raise key policy rate by 25-35 bps to check inflation: Experts

Days after the US Fed raised the interest rate, the RBI may go in for its third consecutive policy rate hike by 25-35 basis points to check high retail inflation, experts said.

The central bank has already announced to gradually withdraw its accommodative monetary policy stance.

The Reserve Bank's rate-setting panel -- Monetary Policy Committee -- will meet on August 3 for three days to deliberate on the prevailing economic situation and announce its bi-monthly review on Friday.

01 Aug 2022, 08:35:16 AM IST

Reliance Securities Stock in Focus: Ultratech Cement

STOCK IN FOCUS

Ultratech Cement (CMP Rs.6,545)

We have a BUY rating on the stock with a target price of 7,675.

Intraday Picks

AMARAJABAT (PREVIOUS CLOSE: 492) BUY

For today’s trade, long position can be initiated in the range of Rs492- 489 for the target of Rs504 with a strict stop loss of Rs484.

TORNTPOWER (PREVIOUS CLOSE: 525) BUY

For today’s trade, long position can be initiated in the range of Rs521- 517 for the target of Rs534 with a strict stop loss of Rs509.

GRANULES (PREVIOUS CLOSE: 300) SELL

For today’s trade, short position can be initiated in the range of Rs306- 309 for the target of Rs293 with a strict stop loss of Rs314.

01 Aug 2022, 08:31:20 AM IST

Pet care industry grows after pandemic; attracts FMCG companies

The pet food market is currently around 4,000 crore and expected to grow significantly over the next five years. Mars Petcare and Himalaya Wellness Company, among others, are the two major companies operating in the segment.

Mars Petcare is a division of global confectionary major Mars Inc.

Last week, Nestle India entered into the segment by acquiring the pet foods business from its fellow subsidiary Purina Petcare India for 123.5 crore, providing the FMCG major direct access to this fast-growing business in the country.

Earlier this month, another FMCG company Emami announced to invest in a pet-care startup Cannis Lupus Services India, offering Ayurvedic remedies for pets under the brand "Fur Ball Story".

01 Aug 2022, 08:26:40 AM IST

5G spectrum auction: Bids cross ₹1.50 lakh crore mark; UP East sees renewed interest on Sunday

The auction of 5G spectrum capable of offering ultra-high-speed internet received bids worth 1,50,130 crore until Sunday amid a pick-up in demand for radiowaves in the UP East circle, pushing the bidding to theseventh day on Monday.

Seven new rounds of bidding held on the sixth day of auction on Sunday 'dialled in' an incremental 163 crore, propelling the cumulative spectrum sale beyond the 1.50 lakh crore mark.

The auction has fetched provisional bids worth 1,50,130 crore in the first six days, according to data released by the telecom department.

01 Aug 2022, 08:14:02 AM IST

Changes to speed up CCI decision making

The Competition Commission of India (CCI) is set to be more agile in deciding cases of anti-competitive behaviour by businesses, with the government planning to give more leeway to the watchdog in the efficient distribution of work as part of proposed amendments to the two-decade-old law.

The Competition (Amendment) Bill, 2022, cleared by the Union cabinet and scheduled to be introduced in Parliament in the monsoon session, proposes to let single members of the watchdog decide on cases rather than a group of three members jointly taking the call, a person familiar with the discussions said. (Full Report)

01 Aug 2022, 08:05:49 AM IST

Gold steadies in Asia after biggest weekly gain since March

Gold steadied in Asia after its biggest weekly gain since March as the market waited for fresh indicators on the state of the global economy and the pace of US interest-rate hikes.

Bullion rose 2.2% last week on speculation that the Federal Reserve will reduce the pace of rate increases as the US economy slows. Still, it ended July down for a fourth consecutive month as it continued to lose out to the dollar as a safe-haven option.

01 Aug 2022, 07:52:43 AM IST

Asia Factory Activity Tumbles on Supply Snarls and Weaker Demand

Purchasing managers’ indexes for South Korea and Taiwan took the biggest hit, according to S&P Global.

South Korea’s July PMI slumped to 49.8 from 51.3 in June, its lowest reading since September 2020. New orders contracted and weakened the most in nearly two years while output volumes slid at the fastest pace for nine months due to shortages of materials and rising costs.

Taiwan’s PMI reading fell to 44.6 from 49.8 while output fell to 40.2 from 45.9 in June. The PMI, output and new orders were at their weakest since May 2020.

01 Aug 2022, 07:49:47 AM IST

PM may open carbon trade platform on 15 August

Prime Minister Narendra Modi may launch a national carbon trading platform on 15 August as India presses ahead with its climate commitments, two people aware of the development said. The government may also come up with guidelines where carbon trading would be obligatory for some sectors.

There are generally two types of carbon market—compliance and voluntary. The Centre’s move would make it a compliance market for some sectors, the people cited above said on the condition of anonymity. (Full Report)

01 Aug 2022, 07:44:51 AM IST

RIL’s retail arm on a hiring overdrive

Reliance Industries Ltd’s retail arm is scouting for as many as 200 senior executives, vice-president level and above, with annual salaries of 1 crore or more and thousands of other junior and mid-level executives, recruiters said. Reliance Retail added over 17,000 jobs in the quarter for a total of 379,000, according to its latest earnings announcement

01 Aug 2022, 07:31:46 AM IST

Tokyo shares open slightly higher; China, Hong Kong index in red.

Tokyo stocks edged up in early trade on Monday, extending rallies on Wall Street as traders eyed upcoming corporate earnings. The benchmark Nikkei 225 index gained 0.05%, or 14.52 points, to 27,816.16 at the open, while the broader Topix index added 0.14%, or 2.63 points, to 1,942.94.

Shanghai Composite and Hang Seng index opened in red and were down 0.2% and 1%, respectively.

01 Aug 2022, 07:30:14 AM IST

Big tech, oil extend Wall Street's mid-summer rebound

U.S. stocks extended their mid-summer rebound on Friday, with the dollar and some longer-term Treasury yields dipping, as Wall Street cheered positive corporate news in spite of increased labour costs and other indicators of continued inflation.

The Dow Jones Industrial Average (.DJI) rose around 1%, the S&P 500 (.SPX) gained about 1.4% and the Nasdaq Composite (.IXIC) added nearly 2%. The S&P 500 and Nasdaq have now posted their biggest monthly percentage gains since 2020.

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