Both the benchmarks are on course for a weekly loss after rising for four straight weeks. The Nifty 50 and Sensex are down 0.64% and 0.91%, respectively, so far this week.
The benchmarks rose nearly 6% over the last four weeks.
While benchmarks declined, the broader peers showed resilience with the smallcaps and midcaps gaining 0.5% and 0.4%, respectively, on the day.
Five of the 13 major sectoral indexes logged losses, with high weightage financials losing 0.7% and IT falling 0.8%.
Asian markets erased losses after the Bank of Japan kept policy rates unchanged, after sliding ahead of the decision on speculation that it may take steps to remove stimulus measures.
Wall Street equities closed lower after stronger-than-expected GDP data in the June quarter dampened hopes of an end to the U.S. Federal Reserve’s policy tightening. The resilience in the U.S. economy provides room for the central bank to raise rates further to bring inflation down to its 2% target.
“Most investors could hold back their investments and also start booking some profits at current levels after the recent rise,” said Raghavendra Nath, managing director at Mumbai-based investment advisory firm Ladderup Wealth Management.
Among individual stocks, high weightage Reliance Industries rose 1% and capped further index losses. The stock had fallen 4.5% over the last five sessions after demerging its financial services unit.
Realty firm Macrotech Developers lost as much as 4.43% after reporting a fall in June-quarter profit.
!1 New UpdateClick here for latest updates
Apar Industries Q1 Results
- Cons net profit at Rs 197 cr versus Rs 122 cr
- Cons revenue from operations at Rs 3773 cr versus Rs 3093 cr
AMD to invest USD 400 million in India in 5 years
“AMD will invest USD 400 million in India in 5 years,” Mark Papermaster, EVP and CTO of AMD, said addressing SemiconIndia 2023 here.
AMD will build on its two decades of growth and successful presence in India, he said, adding that the company expects to add 3,000 additional engineers in India by 2028, as it extends R&D capabilities in the country.
Gold futures gain Rs 185 to Rs 59,135/10 gms
Fresh positions built up by participants led to the rise in gold prices, analysts said.
India regulator seeks curbs to limit retail investors’ derivatives risk -sources
With Indian share prices near record highs, drawing increased retail investor interest, the regulator is concerned smaller players could suffer losses on derivatives if markets turn volatile.
5 best-performing real estate stocks in trade today
Price as on 28 Jul, 2023 12:12 PM, Click on company names for their live prices.
Tokyo stocks close lower after BoJ decision
Tokyo stocks closed lower on Friday as a higher yen weighed on exporters, while investors digested the Bank of Japan’s decision to ease its grip on its super-loose monetary policy. The benchmark Nikkei 225 index dropped 0.40 percent, or 131.93 points, to 32,759.23, while the broader Topix index ended down 0.20 percent, or 4.53 points, at 2,290.61.
Check out top losers on NSE at this hour
Price as on 28 Jul, 2023 11:53 AM, Click on company names for their live prices.
Sensex Today: HDFC Bank, ICICI Bank drag Sensex 300 points lower
Sensex today: Sensex gives up 66,000 mark
Shyam Metalics and Energy Limited (SMEL) has posted a 43 per cent fall in consolidated net profit at Rs 235 crore in the April-June quarter of 2023-24, dragged by higher expenses. It had posted a net profit of Rs 414 crore in the corresponding period of 2022-23, the company said in a regulatory filing on Thursday.
Price as on 28 Jul, 2023 11:15 AM, Click on company names for their live prices.
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Karur Vysya Bank categorically denies that bank has not accorded any in-principle approval for sale of its stake in Canbank Computer Services
Price as on 28 Jul, 2023 11:05 AM, Click on company names for their live prices.
ITC clarifies it won’t buy stake in hotels if BAT wants an exit after demerger
The restructuring exercise has met a long-pending demand of investors to unlock value in matured businesses but the decision to keep 40% stake with the parent entity had raised eyebrows.
If an investor owns a 10% stake in ITC, post-demerger, they shall hold a 6% stake in ITC Hotels and a 4% stake in ITC Hotels indirectly via ITC Ltd.
The world’s largest tobacco company, British American Tobacco (BAT) which owns 29% stake in ITC, would end up owning about 17.4% stake in ITC Hotels after the demerger. It is being speculated that BAT may have little interest in owning a hospitality stock in its portfolio.
Wockhardt says Guardian Finance has wrongfully invoked pledge on 20,00,000 shares of co
Price as on 28 Jul, 2023 10:27 AM, Click on company names for their live prices.
Shares of Motilal Oswal Financial Services (MOFSL) jumped nearly 9% on the NSE to their 52-week high of Rs 889.95 on Friday, following the June quarter earnings announced by the company along with a proposal for internal restructuring in the company.
Price as on 28 Jul, 2023 10:09 AM, Click on company names for their live prices.
Market View | Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Investors have to be careful chasing small-caps which are in overvalued territory. Large-caps, even when richly valued, are safe unlike risky small-caps.
Pharma is staging a comeback and there is value-buying happening in beaten down metal stocks.
Despite a positive opening, inability to convincingly breach the upper boundary of the 19770-840 band, which we had marked down as pivotal region, led to a liquidation spree that stretched through the day, until 19620 stepped in to arrest further free fall. The swing thereof and a close near 19700 encourages us to go in today expecting positivity and get back to the 20160 trajectory. However, expect bears to dominate if unable to clear 19770 or float above 19670, but a free fall is less expected.
– Anand James, Chief Market Strategist at Geojit Financial Services
Garden Reach Shipbuilders & Engineers launching an autonomous underwater vehicle
Price as on 28 Jul, 2023 09:51 AM, Click on company names for their live prices.
GAIL (India) Ltd has issued a swap tender offering six liquefied natural gas (LNG) cargoes for loading in the United States in exchange for six other cargoes for delivery to India in 2024, two industry sources said on Friday.
Price as on 28 Jul, 2023 09:50 AM, Click on company names for their live prices.
Rupee falls 28 paise to 82.20 against US dollar in early trade.
Top movers in opening trade
Price as on 28 Jul, 2023 09:21 AM, Click on company names for their live prices.
Stock Market updates|Opening Bell: Sensex falls 150 points, Nifty below 19,650; Motilal Oswal surges 8%, JK Lakshmi drops 4%
Pre-open session: Sensex trades flat; Nifty below 19,660
Markets may edge higher in early trades Friday amid optimism in the Gift Nifty index even as US indices faltered overnight and Asian gauges displayed a mixed trend. Intra-day volatility will continue and investors would take cues from the European markets trend for further direction. Technically, the make-or-break support for Nifty is seen at the 19561 mark, while confirmation of strength only above the 19887 mark
– Prashanth Tapse, Senior VP (Research), Mehta Equities
Asian stocks slip, yen surges on speculation of Bank of Japan policy tweak
Asian stocks were off five-month highs and the yen extended a sharp rally on Friday with speculation that the Bank of Japan could take another small step toward dismantling its super-easy stimulus policies.
Stock markets Live Updates: Quarterly earnings today
IOC, SBI Card, Marico, Mahindra Finance among others will announce their first quarter results today.
Share Markets Live Updates: GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded 30 points, or 0.15 per cent, higher at 19,794, signaling that Dalal Street was headed for positive start on Friday.
Tech View: Nifty charts hint at more trouble ahead
By ending 118 points lower at 19,659.90 amid monthly F&O settlement, Nifty today formed a lower top and bearish candle which is indicating further correction from current levels.Nifty closed below the immediate support of 10-day EMA at 19680, after sustaining above it for 21 consecutive sessions. “Further weakness from here, the market could slide down to its crucial lower support of 20-day EMA around 19500 levels. This moving average has been offering support for the Nifty for the past three months,” said Nagaraj Shetti of HDFC Securities.
Stock Markets Live Updates: Tokyo stocks open lower with eyes on Bank of Japan
Tokyo stocks opened lower Friday as investors were disheartened by falls on Wall Street and a stronger yen, while they also awaited a Bank of Japan policy decision.The benchmark Nikkei 225 index was down 1.44 percent, or 474.33 points, at 32,416.83 in early trade, while the broader Topix index dropped 1.16 percent, or 26.73 points, to 2,268.41.
Wall Street closes down, Dow snaps longest winning streak since 1987
US stocks ended lower on Thursday after news that the Bank of Japan will allow long-term interest rates to rise sent U.S. yields higher, snapping the longest winning streak for the Dow since 1987.
Rupee rises 9 paise against US dollar
The rupee gained 9 paise to close at 81.92 against the US dollar on Thursday, tracking the weakness of the American currency in the overseas market after the US Fed raised interest rates on expected lines.
Share Markets Live Updates: Oil prices open lower on demand concerns, remain on track for weekly gain
Oil prices fell in early Asian trade on Friday as demand concerns weighed against strong economic data.Brent crude fell 59 cents, or 0.7%, to $83.65 a barrel by 0027 GMT, but was on track for a weekly 5% increase. U.S. West Texas Intermediate (WTI) crude fell 51 cents, or 0.6%, to $79.58 a barrel, on track for a 5.2% weekly increase.
Sensex, Nifty on Thursday
The 30-share BSE benchmark Sensex declined 440 points or 0.66% to settle at 66,267. The broader NSE Nifty dropped 0.60% to end below the 19,700 level.
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