Latest Stock Market News

In any transaction, or business we are doing, we are trying to make commercial sense out of it, whether it is on the credit side or while taking deposits.

Firstly, the valuations have expanded by a lesser margin than the 16% rally, as nearly half of the year has elapsed and valuations should always be referenced with time. There is earnings growth with time.

ITC reported a 18% growth in net profit at Rs 4,903 crore in Q1. Revenue from operations declined 8% to Rs 15,828 crore. The net profit was higher than an ETNow poll of Rs 4,769 crore, but revenue was lower than the estimated Rs 16,893 crore.

The US downgrade has not had any meaningful impact on bond yields in India and despite the initial nervousness, we do not expect it to have any long-term impact on Indian equities.

The S&P 500 opened lower by 10.85 points, or 0.24%, at 4,478.87, while the Nasdaq Composite dropped 27.85 points, or 0.20%, to 13,760.48 at the opening bell.

The prospect of slower global price pressures may be one of the few upsides of China’s descent into deflation as the economy struggles to regain its footing after a post-Covid bounce faded. Inflation is likely to remain muted as a property slump and troubles in the shadow banking industry curb spending and investments by both consumers and companies.

Market dislocations are generally difficult to identify with precision. However, it implies the existence of an event or circumstance where the whole banking, financial services and bond markets experience severe liquidity strain.

Sectorally, FMCG, IT and Media indices ended with gains, while all others registered losses, with Nifty Metal and Nifty PSU Bank emerging as the top losers on Monday.

Stocks that were in focus include names like Motilal Oswal which closed with gains of over 3%, Aurobindo Pharma which rose over 1% to a fresh 52-week high and ESAB India which settled 3% higher on Monday.

Bond yields across Europe jumped, with UK gilts spiking after data showed basic wages in Britain surged to hit a new record growth rate.