There is an atmosphere of lethargy in the stock market today. The Sensex opened 28 points to 79,885. The Nifty opened 8 points to open at 24,371. Bank Nifty fell 5 points to open at 54,999. The rupee opened at 87.53 as compared to 87.48. Today the most decline has been seen in the shares of the Consumer Durable Sector. Its Nifty index was seen trading with a decline of more than one per cent. However, Nifty Auto, IT, Metal and PSU banks are trading with an edge.
These are the top gainers of today
SBIN
Tent
NTPC
Ultrasamco
HDFC Bank
These are today’s top loser
Asianpant
ICICI Bank
Bajajfinsvi
HCLTech
Titan
India has also appeared active in the midst of diplomatic movement between the US and Russia. Prime Minister Narendra Modi spoke to President Vladimir Putin on the phone and invited Putin to come to India along with strengthening the strategic partnership. The world is eyeing the meeting of President Donald Trump and Putin in Alaska on 15 August as this meeting may indicate a resolution of the Ukraine dispute.
Strengthening in tech sector
The strength in the tech sector in the global markets brought the American indices to height. Nasdaq closed at a record level and Dow Jones also closed with a gain of about 200 points. Dow futures are seeing a jump of about 100 points. Japan’s Nikkei remained closed today in Asian markets. In domestic weekly signs, the gift Nifty was seen doing flat business around 24,450.
There was a mixed trend in the commodity market. Domestic gold closed at a record level while gold fell by $ 50 to $ 3,450 in the international market. Silver broke down by seven days of seven days and crude oil remained around $ 66 by about two months.
The impact of this decision of the government will also be seen
Domestic political and economic decisions also affected the market. The central government sanctioned around Rs 30,000 crore to compensate for the losses of oil marketing companies (OMC). The cabinet approved the decision, indicating softening of petrol and diesel prices. Business aspects changed as the results of companies were approved. The results of Tata Motors were mixed in the June quarter. The performance of Manappuram and Siemens was also mixed, while the results of Voltas were relatively weak. The market will keep a close watch on the future guidelines and cost management related to these quarters. In the banking sector, ICICI Bank increased the minimum balance to Rs 50,000 for new savings accounts opened in urban areas. This step may affect customers’ practical habits and banking deposits.
What are the quarterly results?
There are many interesting developments in capital market activities today. A block deal of Rs 1,251 crore is possible in the Home First Finance, in which Warburg Pinkus can sell its about 10% stake at a floor price of Rs 1,143. The IPO of Bluestone Jewelery is opening today, the price band is kept from 492 to 517 rupees. At the same time, JSW Cement has a 56% subscribe with a sluggish response, the price band was Rs 139-147. The IPO of All Time Plastics is completely subscribed, the price band was Rs 260-275.
