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Sensex up 250 points amid volatility; Nifty closes above 16,300; realty shines

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  • Share Market Close: Indian benchmark indices picked up steam after trading flat for most of the session on Tuesday. Sensex added 200 points and Nifty ended above the 16,300 mark. Axis and IndusInd bank gained.

On a day marked by volatility, Sensex added almost 240 points and ended at 54,767 points. Nifty crossed the 16,300 mark and closed at 16,340. Japan ended the day in green, while Hang Seng is down 0.6% and Shanghai remains flat. Stocks closed lower on Wall Street Monday after an early rally.

19 Jul 2022, 03:48:32 PM IST

Indices end higher in choppy trade; realty and bank stocks rally

After trading flat for most of the day, Indian benchmark indices ended on a positive note on Tuesday. The Sensex gained almost 250 points and ended at 54,767 points. The Nifty crossed the 16,300 mark and closed at 16,340, gaining 62 points.

Bank and realty stocks led the rally; while pharma and media were the laggards in the market. Axis Bank and Mahindra & Mahindra climbed by around 2%, whereas Nestle India and HCL shed more than a per cent.

Trade was mixed in Asia on Tuesday after Apple Inc.’s plans to slow hiring due to concerns over aggressive monetary tightening to tackle inflation.

In Europe, concerns are intensifying about gas supplies from Russia amid a standoff over its invasion of Ukraine. The European Union is preparing to tell members to cut gas consumption “immediately" to preserve supplies for winter, according to a report. 

The Indian rupee rose 2 paise to close at 79.96 against the US dollar.

Sensex
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Sensex
19 Jul 2022, 03:25:17 PM IST

Russia says Apple violates antitrust laws

Russia's competition authority said on Tuesday that U.S. tech giant Apple is in violation of the country's antitrust laws due to its dominant position in the app store market. In a statement, the federal anti-monopoly service (FAS) said it would levy a turnover-based fine against Apple, the size of which would be determined during the course of an investigation.

19 Jul 2022, 03:19:09 PM IST

Farmers suffered no losses due to wheat export ban, domestic prices above MSP: Govt

Farmers have not suffered any losses due to the ban imposed on the export of wheat, Minister for Agriculture and Farmers Welfare Narendra Singh Tomar informed Lok Sabha on Tuesday. This was in reply to a question about whether the government proposes to provide any assistance or compensation for the losses suffered by farmers due to the ban on the export of wheat.

19 Jul 2022, 03:15:16 PM IST

Most broad indices have turned green towards the end of a volatile day; Media, Pharma exceptions

Nifty
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Nifty
19 Jul 2022, 03:04:02 PM IST

Iran and Russia's Gazprom sign primary deal for energy cooperation

The National Iranian Oil Company (NIOC) and Russian gas producer Gazprom signed on Tuesday a memorandum of understanding worth around $40 billion, Iran's oil ministry's news agency SHANA said. The deal was signed during an online ceremony by the CEOs of both companies on the day Russian President Vladimir Putin arrives in Tehran for a summit with his Iranian and Turkish counterparts.

19 Jul 2022, 02:53:23 PM IST

China stocks fall on COVID flare-ups, property woes

China stocks closed lower on Tuesday as rising COVID cases and fresh property woes clouded the prospect of an economic recovery. The blue-chip CSI300 index fell 0.5% to 4,269.34, while the Shanghai Composite Index was almost flat at 3,279.43. The Hang Seng index fell 0.9% to 20,661.06, while the China Enterprises Index lost 1.0% to 7,097.39.

19 Jul 2022, 02:46:40 PM IST

Jio adds over 31 lakh mobile users in May: TRAI data

Reliance Jio cemented its lead in the Indian telecom market as it gained over 31 lakh mobile subscribers in May, as per data released by the sector regulator on Tuesday. Sunil Mittal-led Bharti Airtel added 10.27 lakh subscribers in May, taking its mobile user tally to 36.21 crore. 

19 Jul 2022, 02:26:39 PM IST

HDFC Life Q1 net profit up 21%; shares fall 

HDFC Life Insurance Company witnessed a 21% growth in its net profit for the first quarter ended June 2022 at 365 crore as compared to 302 crore in the same quarter last year. Shares of HDFC Life were trading over a per cent lower at 536 apiece on the BSE in Tuesday's afternoon deals. (Full Report)

19 Jul 2022, 02:21:58 PM IST

Go First experienced technical snags on its Mumbai-Leh and Srinagar-Delhi flights.

Both GoAir aircrafts have been grounded, according to the Directorate General of Civil Aviation (DGCA) officials. “We are investigating and in the meanwhile, both these aircraft are being grounded and shall fly only when cleared by DGCA," it said.

19 Jul 2022, 02:19:34 PM IST

Decline in rupee pretty tolerable, Ambit Asset Management

Aishvarya Dadheech, Fund Manager, Ambit Asset Management said, "Global risk aversion has led to rupee depreciation against the dollar; however, the decline is pretty tolerable. Even though rupee touched the psychological mark of 80 per dollar, rupee has indeed appreciated against the majority of leading currencies like Euro, GBP and Yen etc. Forex reserve remains at healthy levels and recent measures by the RBI will help overcome dollar shortage. Fundamentals of INR are intact and the recent correction (due to global risk off sentiment) is an overreaction. We believe INR will remain range bound and foreign investors will see this as an opportunity, and will be tempted to lock in at these levels."

19 Jul 2022, 02:10:39 PM IST

Axis Bank shines amidst volatile market; up 2%

Axis Bank
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Axis Bank
19 Jul 2022, 02:04:30 PM IST

Russia's oil deliveries to India are down 30% from Ukraine invasion peak

There are tentative signs that Russia's diversion of crude oil to Asia from long-time European customers is faltering. Shipments to China and India are down by almost 30% from their post-invasion peak. While it’s too early to say with confidence that self-sanctioning and pressure from the US on India, China and other buyers will have a sustained impact, there are early signs that the Asian nations may not be able to fully replace Russia’s European buyers.

19 Jul 2022, 02:03:07 PM IST

SpiceJet to start 26 new flights from July 22

SpiceJet will enhance frequencies on Ahmedabad-Jaipur, Delhi-Hyderabad, Delhi-Dharamshala and Amritsar-Ahmedabad routes. (Read More)

19 Jul 2022, 02:00:59 PM IST

Most IT stocks in red; Infosys, Coforge shed 1%

Nifty IT
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Nifty IT
19 Jul 2022, 01:40:13 PM IST

ECB Is looking at a half-point hike

The European Central Bank may consider raising interest rates by half point on Thursday because of the worsening inflation, according to people familiar with the situation.

19 Jul 2022, 01:37:10 PM IST

Steel Strips Wheels announces 1:5 stock split; share sheds 3%.

While announcing its earnings for the first quarter ended June 2022, Steel Strips Wheels Ltd said that its board has approved a stock split in the ratio of 1:5. Shares of Steel Strips were trading more than 3% lower at 815 apiece on the BSE in Tuesday's afternoon deals. (Read More)

Steel Strip Wheel
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Steel Strip Wheel
19 Jul 2022, 01:18:39 PM IST

RBI helps Indian rupee steady after striking record low seven sessions in a row

India's central bank intervened in the currency market on Tuesday to help the rupee steady slightly after the unit weakened to 80.05 per dollar, notching a record low for a seventh successive session. The RBI has been intervening in both the spot and forward markets to slow the rupee's fall and has taken several measures in recent weeks to boost foreign fund inflows. 

19 Jul 2022, 01:02:29 PM IST

European stocks drop at open

European stock markets fell at the open Tuesday as a global rally petered out on renewed fears of a recession, traders said.

London's benchmark FTSE 100 index dropped 0.3% to 7,202.58 points. In the Eurozone, Frankfurt's DAX index shed 0.4% to 12,909.78 points and the Paris CAC 40 retreated 0.5% to 6,064.22.

19 Jul 2022, 12:53:12 PM IST

Adani secures world's 4th richest on Forbes list

Indian billionaire Gautam Adani now holds the fourth rank on the Forbes world’s richest list, surpassing Microsoft founder Bill Gates who last week said that he would be donating $20 billion from his wealth to his non-profit.

Following the donation, Bill Gates has slipped just one spot to be the fifth richest in the world, worth an estimated $102 billion on Forbes’ Real-Time Ranking of the World’s Billionaires, whereas India's Gautam Adani & Family stands at fourth with net worth of over $114 billion, as per Forbes. (Read More)

19 Jul 2022, 12:51:03 PM IST

Most Media shares trading in red

Network 18 is down 0.5%. It is scheduled to declare its quarterly results today.

Nifty Media
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Nifty Media
19 Jul 2022, 12:36:52 PM IST

DCM Shriram Q1 profit up 61 % to ₹253.96 cr

DCM Shriram Ltd on Tuesday reported a 61% increase in its consolidated net profit at 253.96 crore for the quarter ended June on higher income. Its net profit stood at 157.87 crore in the year-ago period, according to a regulatory filing. Total income rose to 2,999.90 crore in the first quarter of this fiscal year from 2,025.11 crore in the corresponding period of the previous year.

19 Jul 2022, 12:33:31 PM IST

Kotak Securities on Cotton outlook: Stable prices

Kotak Securities Commodity Insights on Cotton said that the current cotton prices are about 66% higher year on year due to lower stocks in the country amid lower production last year. We expect the prices to trade in a range due to a balanced supply and demand situation. Unfavourable climatic conditions across the cotton-producing countries may reduce output while forecasts for waning consumption by the top consumer China to keep the prices in balance. Moreover, expectation of higher global inventories will cap some upside for now.

19 Jul 2022, 12:18:17 PM IST

Adani Wilmar cuts prices of edible oils by up to ₹30 per litre

According to Adani Wilmar, the maximum rate cut has been effected for soyabean oil to 165 per litre from 195 per litre while the minimum quantum of reduction is in the case of mustard oil where the price has been reduced to 190 from 195 per litre. The reduction in MRP follows a directive from the Union Food Ministry, which on July 6, had asked edible oil firms to pass on the benefits of fall in global cooking oil prices to consumers.

19 Jul 2022, 12:06:51 PM IST

Marriott signs 5 new hotels in east India

Marriott International, Inc., has signed an agreement to bring five new hotels to Jharkhand and West Bengal. The company said these hotels will open over the next two to four years with local partner BeeKay Group and the agreement is expected to add about 700 rooms to the American hospitality major’s existing portfolio of about 26,000 rooms in the country.

19 Jul 2022, 12:02:24 PM IST

Noon update: Sensex, Nifty recover from early loss to remain flat; FMCG, Media down

Sensex
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Sensex
19 Jul 2022, 11:59:53 AM IST

Nestle India stock down 2%

Nestle
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Nestle
19 Jul 2022, 11:52:54 AM IST

Tokyo shares close higher after holiday; Shanghai recovers losses

Tokyo stocks closed higher for a fourth straight session on Tuesday after a three-day weekend, with investors encouraged by Wall Street rallies last week. The benchmark Nikkei 225 index was up 0.65%, or 173.21 points, to end at 26,961.68, while the broader Topix index rose 0.54%, or 10.29 points, to 1,902.79.

Meanwhile, the Composite Shanghai Index recovered from early losses and is up 0.1%. However, Hong Kong is still down 0.7%.

19 Jul 2022, 11:47:05 AM IST

Tata Elxsi: Why this IT stock has rallied 37% this year versus 27% fall in BSE IT index

Shares of Tata Elxsi Ltd have jumped about 37% in 2022 (YTD) so far, outperforming the BSE IT index that has declined over 27% during the same period. The IT company’s profit and revenue have climbed on large deals for cloud-based platforms and artificial intelligence used to improve products and customer experience. (Full Report)

19 Jul 2022, 11:42:41 AM IST

India looks at Africa as partner in progress, says Piyush Goyal

Emphasising that India looks at African countries as partners in progress, Union Commerce and Industry minister Piyush Goyal underlined that the India-Africa partnership will play an important role over the next 25 years to fulfill the aspirations of India and Africa. Goyal made the remarks while addressing the Confederation of Indian Industry-Exim Bank Conclave on India-Africa Growth Partnership here on Tuesday.

Both can work together to bring cost-effective solutions in several areas like drinking water, logistics, healthcare, education, fintech, and solar power, among others, the minister said.

19 Jul 2022, 11:41:25 AM IST

Volvo profit beats despite persisting supply-chain snarls

Volvo AB reported second-quarter earnings that came in ahead of analyst estimates as the Swedish truckmaker raised prices to pass on higher production costs. Adjusted operating profit for the three months through June came in at $1.32 billion, the Swedish manufacturer said Tuesday, beating the average analyst estimate. Net sales climbed 31% but added that hat it continues to expect production issues due to problems in the supply chain.

19 Jul 2022, 11:34:57 AM IST

RBI closer to its inflation mandate than other central banks

An analysis by Emkay Global Financial Services Ltd showed that the Reserve Bank of India (RBI) is closer to its inflation mandate compared with other central banks. The domestic brokerage house points out that inflation measured via the consumer price inflation (CPI) in India is around 100 basis points (bps) ahead of the upper limit of RBI's comfort zone of 6%. One basis point is 0.01%. In June, India's CPI inflation or headline retail inflation stood at 7.01% in June, a slight moderation from 7.04% in May. (Read more)

19 Jul 2022, 11:31:06 AM IST

Shiprocket to acquire Arvind Ltd’s Omuni for ₹200 crore

E-commerce enablement platform Shiprocket is set to acquire Arvind Ltd’s omnichannel technology business Omuni for an estimated 200 crore. (Full Report)

19 Jul 2022, 11:15:42 AM IST

Nifty Realty up 1%; Sobha gains 3%

Realty
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Realty
19 Jul 2022, 11:08:31 AM IST

Fitch revises Pakistan's outlook to negative; affirms at 'B-'

Ratings agency Fitch on Tuesday revised its outlook on Pakistan to negative from stable, citing deterioration in country's external liquidity position and financing conditions since early 2022.

19 Jul 2022, 10:59:31 AM IST

Bank of Maharashtra climbs after a strong Q1 earnings

State-run Bank of Maharashtra on Monday reported a more than two-fold jump in net profit to 452 crore in the April-June quarter, helped by a healthy net interest income and improvement in asset quality.

Bank of Maharashtra
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Bank of Maharashtra
19 Jul 2022, 10:30:07 AM IST

M&M share up by 1.5% after it increased it stake in Sampo Rosenlew Oy to 100 per cent

Mahindra & Mahindra on Monday said it has hiked its stake in its Finland-based arm Sampo Rosenlew Oy to 100 per cent with the acquisition of residual shares for over 35 crore. In a regulatory filing, Mahindra & Mahindra (M&M) said it executed an option exercise share purchase agreement on Monday to acquire 1,317 equity shares of Sampo Rosenlew Oy.

M&M
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M&M
19 Jul 2022, 10:16:43 AM IST

Most Nifty broad indices in green, auto and PSU bank up 1%; FMCG lags

Nifty Broad Indices
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Nifty Broad Indices
19 Jul 2022, 10:06:53 AM IST

India to invest more in Sri Lanka after crisis support of $3.8 bln

India is willing to make more investments in neighbouring Sri Lanka after supporting it with $3.8 billion this year, New Delhi's envoy in Colombo told the Indian Express newspaper.

"The idea is to respond to Sri Lanka's requests for enabling them to meet their foreign exchange crisis," said Gopal Baglay, India's high commissioner in Sri Lanka.

19 Jul 2022, 09:58:41 AM IST

India logged 15,528 new coronavirus infections on Monday

India logged 15,528 new coronavirus infections taking the total tally of COVID-19 cases to 4,37,83,062, while the active cases dipped to 1,43,654, according to the Union Health Ministry data updated on Tuesday. The death toll climbed to 5,25,785 with 25 new fatalities. A decline of 610 cases has been recorded in the active COVID-19 caseload in a span of 24 hours. 

19 Jul 2022, 09:48:09 AM IST

Metal stocks up 0.8%; all stocks in green

Nifty Metal
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Nifty Metal
19 Jul 2022, 09:43:52 AM IST

Yes Securities on Oberoi Realty - BUY; Justdial - REDUCE

The report said, “Oberoi Realty achieved presales value of 7611mn for Q1FY23 guided by  sustained demand for Elysian, Sky City and Eternia. OBER received OC for 360 West under DCR 2034 and is expected to witness good sales from FY23 onwards. Thane project is expected to launch in festive season."  The report concluded, “We recommend ‘BUY’ rating with 22% upside."

19 Jul 2022, 09:40:00 AM IST

HCL Tech shares trade ex-dividend today; down 1%

HCL Tech's board has declared an interim dividend of 10 per equity share having a face value of 2 each for the financial year 2022-23 (FY23). The company had said that the record date has been fixed on Wednesday, July 20, 2022, for the payment of the aforesaid interim dividend.

HCL
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HCL
19 Jul 2022, 09:28:52 AM IST

Indian rupee breaches 80 per dollar, hits new record low

19 Jul 2022, 09:26:58 AM IST

Senses and Nifty are down 0.3% at open on Tuesday.

Most stocks are in red with HCL and Asian Paints down 1%. Tata Steel and Mahindra & Mahindra up.

Sensex
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Sensex
19 Jul 2022, 09:09:36 AM IST

Rising input costs to hurt profitability of Indian pharma sector in 2022-23: Report

Faced with rising prices of active pharmaceutical ingredients (APIs), and other key inputs coupled with a rise in freight and energy costs, the operating profitability of Indian pharmaceutical companies is expected to decline by 200-250 basis points (or 2.5 percentage points) in the financial year 2022-23, said a report by the rating agency CareEdge.

19 Jul 2022, 09:05:28 AM IST

Sensex down on pre-open

Sensex Pre-open
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Sensex Pre-open
19 Jul 2022, 08:55:01 AM IST

Vedanta's 2nd interim dividend decision to be taken today

Vedanta Ltd's board of directors will meet on Tuesday, July 19, 2022, and will consider and approve the second interim dividend on its equity shares, if any, for the financial year 2022-23, the company had informed in an exchange filing last week. Vedanta's board had announced the first interim dividend of 31.5 per equity share i.e. 3,150% of the face value of Re 1 per share for the financial year 2022-23, which was paid in May 2022.

19 Jul 2022, 08:43:48 AM IST

Russia seeking oil payments from India in dirhams - sources, document

Russia is seeking payment in United Arab Emirates dirhams for oil exports to some Indian customers, three sources said and a document showed, as Moscow moves away from the U.S. dollar to insulate itself from the effects of Western sanctions. Russia has been hit by a slew of sanctions from the United States and its allies over its invasion of Ukraine in late February, which it terms a "special military operation".

19 Jul 2022, 08:42:46 AM IST

Jio signals 5G blitz with ₹14k cr  auction  deposit

Ambani’s Reliance Jio Infocomm Ltd put in a whopping 14,000 crore as earnest money. Bharti Airtel deposited a more modest 5,500 crore, and Vodafone Idea Ltd, the weakest of the three telcos, deposited 2,200 crore.

Adani Data Networks, the surprise contender for 5G airwaves, has put in a paltry 100 crore as earnest money to participate in 5G spectrum auctions, suggesting the company may only bid for airwaves in a few circles for enterprise or captive use, industry experts said.  (Full Report)

19 Jul 2022, 08:27:30 AM IST

MSCI's broadest index falls 0.46%

MSCI's broadest index of Asia-Pacific shares outside Japan, fell 0.46%, walking back some of the previous day's 1.8% gain, and heading back towards last week's two-year low.

19 Jul 2022, 08:22:47 AM IST

Yellen says U.S. will impose consequences on countries abusing economic order

U.S. Treasury Secretary Janet Yellen said on Tuesday that the United States will impose harsh consequences on countries that break the international economic order. "Economic integration has been weaponised by Russia," she said, calling for all responsible countries to unite in opposition to Russia's war in Ukraine. Yellen said in remarks prepared for the event she was heartened by conversations with Korean counterparts on a proposed cap on the price of Russian oil.

19 Jul 2022, 08:18:36 AM IST

Centre to hold all-party meeting over Sri Lankan crisis today

Finance Minister Nirmala Sitharaman and External Affairs Minister S Jaishankar will brief floor leaders of all political parties in both the Houses of Parliament at the meeting, Parliamentary Affairs Minister Pralhad Joshi said at an all-party meeting on Sunday.

At the all-party meeting on Sunday, both DMK and AIADMK leaders had urged the Centre to intervene in the crisis to help the neighbouring country resolve its crisis.

Sri Lanka is facing an economic and political crisis with inflation and a severe shortage of fuel and other essential supplies. Gotabaya Rajapaksa, 73, had gone into hiding after protesters stormed his residence on July 9 and his resignation was finally accepted by the Parliament Speaker. The 225-member Parliament will elect the new president by a vote on July 20.

19 Jul 2022, 08:15:50 AM IST

Bharat Electronics' stock hits new 52-week high on strong Q1 execution

Shares of Bharat Electronics soared 6.2% in opening deals on Monday to hit a fresh 52-week high of 260.80 apiece on the National Stock Exchange. The company's June quarter (Q1FY23) performance surpassed expectations, earning the stock a thumbs up from investors.

Standalone revenue jumped 90.4% year-on-year (y-o-y) to 3,112.8 crore in Q1, helped by the low base of last year when operations were hit because the second wave of the coronavirus pandemic. Even so, robust execution was a key factor driving growth in the June quarter.

19 Jul 2022, 08:06:37 AM IST

China’s Covid Cases Near 700 as Shanghai Widens Testing

While Shanghai’s Covid situation is less dire, officials in the city, which endured a bruising two-month lockdown during April and May, are taking no chances -- rolling out a testing blitz in 12 of the city’s 16 districts that are home to around 20 million people.

19 Jul 2022, 07:59:46 AM IST

Apple joins tech giants Amazon, Google, Microsoft in putting a lid on hiring

The iPhone maker is looking to limit expenditures and job growth at some of its divisions, Bloomberg reported Monday, though Apple hasn’t adopted a companywide policy. The more cautious stance mimics the approach of its tech peers, including Amazon.com Inc., Alphabet Inc.’s Google and Microsoft Corp., which have all taken steps to decelerate spending. (Read More)

19 Jul 2022, 07:57:41 AM IST

Stocks to Watch: Bank of Maharashtra, HeidelbergCement, Reliance, NTPC

Hindustan Unilever, HDFC Life Insurance, Ambuja Cements, ICICI Lombard, AM Small Finance, Polycab, Hatsun Agro, L&T Finance Holdings, and Network 18 Media will be in focus as they declare their June quarter earnings today. (Full Report)

19 Jul 2022, 07:48:57 AM IST

Hong Kong shares drop at open

Stocks fell in Hong Kong at the open Tuesday following a report that Apple was pulling back on some investments over concerns about an economic slowdown. The Hang Seng Index lost 0.61%, or 126.98 points, to 20,719.20. The Shanghai Composite Index was flat, inching up 0.62 points to 3,278.72.

19 Jul 2022, 07:46:54 AM IST

Dollarise your investment, suggests Asheesh Chanda

Mr. Asheesh Chanda, Founder & CEO, Kristal.AI, a global wealth advisory platform, on how the drop in rupee will impact investors looking at it from a global investments point of view says, “It is a clear sign that global investors are choosing the safety of US markets over the recession risks of the EU. The impending threat of Russia cutting off gas supplies in winter coupled with the slow intervention by the ECB to control inflation means that the recession in the EU looks imminent. Hence investors are selling Euros and buying dollars. It also reinforces the importance of USD as the safest currency during times of uncertainty. As an Indian investor, one would be well advised to dollarize their investments as even rupee is expected to decline further this year."

19 Jul 2022, 07:39:04 AM IST

Gold Steady Near 11-Month Low

Bullion is hovering above the $1,700 an ounce level as it continues to be pressured by the strength in the US dollar, which is a sign of prevailing caution in global markets. Still, a gauge of the greenback has since retreated from a record hit last week.

19 Jul 2022, 07:33:53 AM IST

Rupee settles at 79.98 against US dollar on Monday

For the first time, the rupee declined to the low level of 80 against the US dollar in intra-day spot trading on Monday. At the end of the session, the rupee was 16 paise lower at 79.98 amid a surge in crude oil prices and unrelenting foreign fund outflows.

19 Jul 2022, 07:32:11 AM IST

Oil Holds Above $100 as Traders Weigh Tight Market, OPEC+ Plans

Oil markets have seen volatile trading in recent weeks as traders navigated concerns that a looming recession would hurt demand, the fallout from a stronger dollar, and signs that underlying physical conditions remain tight. At the same time, the US is pressing ahead with a plan to try to cap Russian crude prices to starve Moscow of funds needed to sustain its invasion of Ukraine.

19 Jul 2022, 07:29:51 AM IST

Stocks closed lower on Wall Street Monday

The S&P 500 fell 0.8% after having been up 1% in the early going. The S&P 500 fell 32.31 points to 3,830.85. The Dow slid 215.65 points to 31,072.61, and the Nasdaq gave up 92.37 points to 11,360.05.

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