Sensex Today: Live Stock Market Updates: Sensex Up 200, Nifty Nears 17,500; the defenses are bleeding; SBI falls 3%, Nykaa rises 3% after Q1

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Paytm grows 6% after strong operational performance in Q1

Shares of One97 Communication, the parent company of Paytm, rebounded as much as 6% in the first trade on Monday after the company reported better-than-expected performance in the June 2022 quarter. The digital financial services provider said its net loss widened year-on-year (YoY) to Rs 644.4 crore in the June quarter of the current fiscal year from a loss of Rs 380.2 crore in the of the corresponding quarter of the last financial year. Paytm, however, reported an 89% increase in revenue on an annual basis to Rs 1,679.6 crore. He said revenue growth was driven by strong monetization of payments, device subscriptions and accelerated adoption of high-margin businesses.

Tata Motors has signed a pact to acquire Ford India’s Sanand-based manufacturing plant for Rs 725.7 crore as it aims to boost its passenger vehicle production capacity. As part of the deal, Tata Motors will get the entire land and buildings, the vehicle manufacturing plant as well as the machinery and equipment therein, the Mumbai-based auto major said in a statement. .

Price as of August 08, 2022 10:48Click on company names for their live prices.

Syrma SGS Tech’s IPO will open on August 12; price range fixed at Rs 209-220 each

After a break of nearly three months, the primary market should pick up the slack as Syrma SGS Technology’s initial public offering (IPO) will open for subscription on Friday August 12. The engineering and design company has set the price range at Rs 209-220 each for the number. The issue will last until August 18 (Thursday). The company aims to raise Rs 840 crore through its main offering, which includes a new issue of Rs 766 crore, while existing shareholders and promoters will unload 33,69,360 shares from their stake.

RBI may raise repo rate to 6.00%, pace may slow: analysts

The Reserve Bank of India is expected to raise its key rate by as much as 60 basis points by the end of 2022, before pausing, but the pace of rate hikes is expected to slow, analysts said. terminal policy rate of 6%… We expect a 35 basis point hike at the next meeting in September and a final hike of 25 basis points in December, before growth concerns and cumulative rate hikes so far only lead the MPC to move into an extended hiatus,” Nomura economist Sonal Varma said in a note.

Impact on profits

Price as of August 08, 2022 10:05 a.m.Click on company names for their live prices.

Rupee opens lower on expectations of aggressive Fed policy tightening

The Indian rupee opened lower against the dollar on Monday, following a broad decline in Asian peers after upbeat US jobs data prompted traders to bet on an aggressive 75 basis point rate hike. the Federal Reserve at its September meeting. The rupee was trading at 79.46 per US dollar at 0333 GMT, down from 79.23 at the previous close.

Market View: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

A paradox in the economy-market connection is that good news for the economy can turn out to be bad news for the markets. It’s playing now. US employment data in July came in at 580,000 against a survey of 250,000. This indicates a strong economy far from near recession. This means the Fed could raise rates an additional 75 basis points in September to cool the economy and contain inflation. Therefore, there may be a short-term strengthening of the dollar. It remains to be seen how the FII will react to this.

Growth impulses in India are strong. Leading indicators such as bank credit growth, capacity utilization in manufacturing, automotive demand, etc. suggest a strong rebounding economy.
Financials, Capital Goods and Construction are on a strong post. Pharma and FMCG are stable. Strong employment data in the United States bodes well for the IT sector.

Most active stocks on NSE

Price as of August 08, 2022 09:20Click on company names for their live prices.

Sensex Heatmap: Top winners and losers at the opening tick

Sensex Heatmap: Top winners and losers at the opening tick

OPENING BELL: Sensex up 30 points, Nifty holds over 17,400 points; SBI drops 2%, Nykaa gains 3%

Asian stocks trade mixed

Asian stock markets were mostly weaker on Monday and the dollar held firm after a stunning U.S. payrolls report pushed back recession talk but also bolstered the case for wage hikes. higher rates.

Quarterly results today

Bharti Airtel, Adani Ports and Special Economic Zone, Power Grid Corporation Of India, Samvardhana Motherson International, Delhivery, Torrent Power, Whirlpool Of India and National Aluminum Company are among the companies to announce their quarterly results today.

SGX Nifty reports a negative start

Nifty futures on the Singapore Stock Exchange traded 65 points, or 0.37%, at 17,358.50, signaling Dalal Street was heading for a negative start on Monday.

Tech View: Nifty50 is losing momentum and could enter consolidation phase

Nifty50 Friday ended on a flat note for the second straight session. The index formed an indecisive candle on the daily chart. On a weekly scale, the index formed a small bullish candle. Analysts said the index could lose momentum after recent strong gains. They see 17,500 as an immediate resistance level. The 17,150 level may provide strong support, they said.

Oil slips amid recession fears and slow recovery of Chinese imports

Oil prices fell on Monday, hovering near multi-month lows, as recession fears hurt demand prospects and data pointed to a slow recovery in China’s crude imports last month. .

Tokyo markets open lower after recent gains

Shares in Tokyo opened lower on Monday after recent gains in Japanese markets and a slowdown in US tech stock prices. The benchmark Nikkei 225 fell 0.33%, or 92.54 points, to 28,083.33 in early trading, while the broader Topix index lost 0.36%, or 6.94 points, at 1,940.23.

S&P 500 ends lower as jobs data reignites fears of rate hike

The S&P 500 ended lower on Friday, weighed down by Tesla and other tech-related stocks after a strong jobs report torpedoed recent optimism that the Federal Reserve could abandon its aggressive campaign to rule the roost. high inflation for decades.

The rupee rises 16 paise to 79.24 against the US dollar

Reversing a two-game losing streak, the rupee appreciated 16 paise to close at 79.24 against the US dollar on Friday after the Reserve Bank raised interest rates by 50 basis points.

Sensex, nice on Friday

The BSE Sensex remained choppy over the past hour but stood 89 points higher at 58,388. Its NSE counterpart, Nifty50, recovered from the day’s lows to add another 16 points but ended the week below 17,400.

Hello, dear reader! Here’s something to start your trading day

Hello, dear reader!  Here's something to start your trading day

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