Naha says that fears of a recession are less of a concern for India than the developed markets and that domestic equities are likely to remain more insulated to global macro challenges.
CLOSING BELL: PSU banks were the worst hit today with the Nifty PSB index down 1.75 per cent
In a volatile session, the 30-share BSE Sensex ended 214.17 points or 0.37 per cent higher at 58,350.53
CLOSING BELL: All sectors, except IT and Financial Services, witnessed selling pressure today, led by auto, pharma, and public sector banks
Analysts, on average, expect the company to post a 2 per cent drop in core profit-after-tax (PAT) to Rs 378 crore in Q1FY23 from Rs 387 crore in the year-ago period.
The technical analyst from HDFC Securities said traders should wait for correction to enter fresh longs on the Nifty index.
Stocks to Watch today: Uber has decided to put its entire 7.8 per cent stake in Zomato on the block, according to sources.
Interestingly, returns have been negative in July only once in nine years
CLOSING BELL: losses in HDFC twins, ICICI Bank, Infosys, L&T, and Bharti Airtel nearly balanced gains in Kotak Bank, State Bank of India, Hindustan Unilever (HUL), Asian Paints, and Bajaj Finance
The consensus earnings estimate for Nifty companies for the ongoing (FY23) and next financial (FY24) have seen minor downward revisions
After frontline indices rallied 9 per cent each in the last one month, analysts believe that the strong foreign inflows after nine months of relentless selling brought upswing to the markets.
CLOSING BELL: M&M (up 6 per cent) was the top Sensex gainer, followed by RIL, Maruti Suzuki, Bharti Airtel, Power Grid, Kotak Bank, Ultratech Cement, ITC, NTPC, SBI, Axis Bank, and Titan
This comes after airline regulator Director General of Civil Aviation (DCGA) curtailed flight operations to only 50 per cent for eight weeks
The bullishness stems from a positive long-term outlook for automakers
FPIs buy shares worth Rs 6,300 crore, first net inflow since Sept 2021
Analysts expect the Gurgaon-based firm's net loss to contract to Rs 315 crore in Q1FY23 from Rs 360.7 crore in the year-ago period.
CLOSING BELL: Public sector banks were the only losers with the Nifty PSB index down 1.2 per cent
Live news updates: A bench comprising Justices D Y Chandrachud, Surya Kant, and Vikram Nath said there was no merit in the review petition
Stocks to watch today: HDFC, Sun Pharma, and Cipla will report their June quarter results on Friday, July 29; Dr Reddy's saw 108 per cent YoY rise in consolidated net profit to Rs 1,187.6 crore in Q1.
CLOSING BELL: Tata Steel, Kotak Bank, IndusInd Bank, Nestle, Infosys, Asian Paints, and Tech M were the other outperformers, up between 3 per cent and 4.6 per cent