Amid weak signals from global markets, the Indian stock market opened with a decline in the last trading session of the week on Friday (July 24). The BSE Sensex opened 366 points or 0.45 percent to 81,818. At the same time, the Nifty 50 index opened 116 points or 0.46 percent to 24,946 below 25,000 points.
Investors are reviewing the new signed free trade agreement with Britain. Under this, tariffs will be cut on all items, from clothing to whiskey and cars. The main investment strategist of Geojit Investments V.K. Vijaykumar said, “The signing of the Indo-Britain Free Trade Agreement is expected to generate a revenue of about $ 34 billion per year between the two countries. It is extremely important in the current scenario. This is very important because India is keen to reach an agreement on trade and tariffs with America.”
Major factors affecting the market today:
Companies of April-June quarter (Q1) results
India-UK trade agreement for India-UK trade agreement global markets for the week ended on July 18, FII/DII Investment Trend Primary Market Activities
Q1 results: The results of these companies will come today
Bajaj Finserv, Bank of Baroda, Cipla, Shriram Finance, SBI Cards, Shephal India, SAIL, Petret LNG, Laus Labs, Poonawala Fincorp, Tata Chemicals, Aadhaar Housing Finance, Gindwell Norton, ACME Solar Holdings, Shobha, Intendent Design, Intelligent Design, Home Corporation, Reliance Infrastructure, JK Bank, HFCL, Chennai Petroleum, Sudarshan Chemical, Manorama Industries, Sharda Cropkem, Mahindra Lifespace, Tamil Nadu Mercantile Bank, Paras Defense, Sterlite Tech, Orient Cement, Orient Electric and RPG Life Sciences.
The condition of global markets?
On Friday, Asian markets saw a decline. Japan’s Nikkei dropped 0.55% and the topics index 0.73%. Australia’s ASX 200 also fell 0.51%. However, South Korea’s Kospi rose 0.14%. In the US last week, unemployment claims declined by 4,000 to 2.17 lakhs, while estimates were 2.27 lakhs. This is the sixth consecutive week when unemployment claims have declined. However, the current unemployment claims increased to 19.55 lakhs, the second highest level since November 2021.
Meanwhile, S&P Global US Composite PMI reached 54.6 in July, which was 52.9 in June. This is the strongest expansion ever this year. The service sector saw a rapid increase in the service sector and the manufacturing sector led to a slight improvement.
On Wall Street, S&P 500 and Nasdaq made new records. S&P 500 rose 0.07% to 6,363.35 and Nasdaq climbed 0.18% to close at 21,057.96. Dow Jones fell 0.7% to close at 44,693.91.
Today’s IPO update:
On Friday, many activities related to IPO will be seen in the primary market.
Today is the last day of subscription for the proposier Titania IPO (Mainboard). SME IPOs of Cellarp Industries, Shri Refrigerations and Patel Cam Specialities will open from today. Today is the second day of Brigade Hotel Ventures IPO (Mainboard). Indicube Space IPO (Mainboard), TSC India IPO (SME) and GNG Electronics IPO (SME) will enter the third day of subscription today. The allotment of Monarch Surveyors and Engineering Consultants IPO (SME) will be allotted today.
