Latest Stock Market News

Sensex and Nifty reached intraday record highs but ended nearly flat ahead of a key US Fed decision. Adani Wilmar gained 6.04%, DLF rose 4.7%, and RITES jumped 14.2%. Experts provided stock recommendations for the upcoming trading day.

Pramod Gubbi from Marcellus Investment indicated that despite high market valuations, pockets of value with predictable earnings growth exist. He discussed opportunities in private banks, autos, and specialty chemicals, emphasizing a bottom-up approach. Key triggers include global factors and economic changes affecting sectors and stocks. Investors should be discerning and focus on earnings potential.

Sixteen companies, such as DLF, Bata India, and Sundaram Finance, set July 31 as the record date for determining dividend eligibility. Investors must purchase shares today to qualify. Additionally, various stocks, including Aarti Pharmalabs and CRISIL, will start trading on an ex-dividend basis from Wednesday.

Akums Drugs &Pharma, a prominent contract development and manufacturing company in India, launched an ₹1,856-crore IPO with ₹680 crore in fresh issuance. Promoters reduced stakes, and proceeds will tackle debt and working capital. Generating ₹4,178 crore in FY24, Akums serves top pharma brands and stands strong in the expanding market.

The Federal Reserve intended to keep interest rates steady at its recent meeting while signaling potential cuts in September as inflation approached the 2% target. With easing price pressures and a resilient job market, some officials believed rate reductions might be justified soon. The economic outlook and these monetary policy decisions could impact the upcoming U.S. presidential election.

This will be the first equity fundraising by an Adani Group company since Adani Enterprises called off its ₹20,000 crore follow-on public offer (FPO) in February last year after having raised the amount.

Domestic markets saw a slow start after an initially strong session. Tata Consumer, Varun Beverages were in focus due to results announcements. ACC and HPCL reported substantial profit declines. Quess Corp and India Cements had notable financial transactions. ITD Cementation won a significant order, and Tata Steel acquired equity shares in T Steel Holdings.

Asian markets started lower as investors reduced their positions ahead of significant upcoming events like central bank decisions and major economic data. Equities in Japan and Australia dropped, with futures in Hong Kong indicating a similar trend. Treasuries had gains, while US stock futures saw a slight decline.

SEBI has barred Vijay Mallya from the Indian securities market for three years for routing funds through overseas bank accounts. The investigation found he used the FII route to indirectly trade in shares of his own companies. Mallya argued the transactions were old, but SEBI highlighted the complex and time-consuming nature of the probe.