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The Zerodha co-founder and CEO pointed out that futures traders generally have a higher success rate than option buyers. Futures traders tend to be profitable around half the time, while option traders are profitable only about 10% of the time, he said, attributing this difference to the higher leverage available in options trading compared to the capped leverage in futures trading.

The Dow Jones Industrial Average rose 82.2 points, or 0.20%, at the open to 40,622.13.

Tata Consumer Products Ltd (TCPL) on Tuesday reported a 14.34 per cent decline in consolidated net profit to Rs 289.25 crore in the first quarter ended in June 2024 on account of exceptional items and lower share of profits from its associates and joint ventures. The company had posted a consolidated net profit of Rs 337.71 crore in the April-June quarter a year ago, according to a regulatory filing from TCPL.

Precision engineering and manufacturing firm Balu Forge on Monday said its on-year net profit grew over two-fold to Rs 34.16 crore in the April-June quarter this year, driven by higher income. The company had posted a net profit of Rs 16.67 crore in the April-June period of FY24.

Gold prices jumped by Rs 550 to Rs 71,600 per 10 grams in the national capital on Tuesday following strong demand from jewellers and firm global trends. In the previous trade, the precious metal had closed at Rs 71,050 per 10 grams.

Homegrown contract electronics manufacturer Dixon Technologies India reported a 108% growth in net profit in the first quarter of 2024-25, as compared to the corresponding quarter last year.

Vedanta received approval from 75% of its secured creditors for its demerger scheme. The plan will create six sector-focused entities, simplifying the corporate structure and providing direct investment opportunities.

Jindal Stainless Ltd (JSL) on Tuesday posted 12 per cent fall in consolidated net profit to Rs 646.07 crore during June quarter, mainly on account of lower income. It had clocked Rs 737.58 crore net profit in the year-ago period, the company said in an exchange filing.

Revenue from operations in the reporting period rose 16% year-on-year to Rs 4,352 crore as against Rs 3,741 crore in the previous year period. The decline in profit was due to higher exceptional items and a reduced share of profits from associates and joint ventures. During the quarter, the India Beverages business saw a 6% increase in revenue (1% organic growth), despite being affected by an intense summer. In contrast, coffee maintained a strong performance, with a 28% revenue growth for the quarter.

The short-term trend of Nifty continues to be choppy, but the near-term uptrend status remains intact. The overall chart pattern is signaling some more consolidation or minor dip in the next 1-2 sessions before bouncing back from the lows.