Opening Bell:
Gift Nifty is up by 77.0 points in the early morning trade, indicating a positive opening for Indian stock market
Asian markets were trading mostly lower in the early trade on Monday In Hong Kong, the Hang Seng Index rose 2.6% to 18,293.38, driven by gains in property and consumer tech stocks. Taiwan 0.25% Higher, Kospi 0.18% lower. Shanghai Composite Index closing flat.
Wall Street closed higher on Friday, with the S&P 500 and Dow Jones Industrial Average hitting intraday record highs. Investors are betting that the U.S. Federal Reserve will cut interest rates in September, despite big banks reporting mixed results. The S&P 500 climbed 0.55% to end the session at 5,615.35 points. The Nasdaq gained 0.63% to 18,398.45 points, while the Dow Jones Industrial Average rose 0.62% to 40,000.90 points. For the week, the S&P 500 rose 0.9%, the Nasdaq added 0.2%, and the Dow increased by 1.6%.
Stocks News:
👉 HCL Technologies reported a net profit increase of 6.8% to Rs 4,257 crore for the quarter, up from Rs 3,986 crore in the previous period. Despite this, revenue dropped by 1.6% to Rs 28,057 crore from Rs 28,499 crore. EBIT also declined by 4.4% to Rs 4,795 crore compared to Rs 5,018 crore, with margins slipping to 17.1% from 17.6%. In dollar terms, revenue fell 1.9% to $3,364 million from $3,430 million, and constant currency revenue decreased by 1.6%. For FY25, HCL forecasts revenue growth of 3-5% YoY in constant currency and expects EBIT margins to be between 18-19%. Additionally, the company declared an interim dividend of Rs 12 per share.
👉 Avenue Supermarts (DMart) reported a consolidated net profit increase of 17.5% year-on-year (YoY) for Q1, reaching Rs 774 crore, up from Rs 659 crore. Revenue saw an 18.6% jump to Rs 14,069 crore, compared to Rs 11,865 crore in the same period last year. The company’s EBITDA surged by 18% to Rs 1,221 crore from Rs 1,035 crore, with margins remaining flat at 8.7%.
👉 Indian Renewable Energy Development Agency (IREDA) reported a significant year-on-year (YoY) growth in its Q1 financial performance. The net profit spiked by 30.2% to Rs 383.7 crore, up from Rs 294.6 crore in the same quarter last year. Additionally, the net interest income surged by 37.6%, reaching Rs 507.8 crore compared to Rs 369 crore previously.
👉 Rail Vikas Nigam Ltd. (RVNL) has received a Letter of Acceptance from Central Railway for a project valued at Rs 132.6 crore. The project involves the modification of the Overhead Equipment (OHE) to upgrade the existing 1 x 25 kV electric traction system to a 2 x 25 kV AT Feeding System. This upgrade is targeted for the Wardha-Ballarshah section of the Nagpur division, Central Railway, to meet a loading target of 3000 MT.
👉 The foreign institutional investors (FIIs) turned net buyers on July 11 as they bought equities worth Rs 4021 crore, while domestic institutional investors extended their selling as they sold equities worth Rs 1,651 crore.
Domestic and International Events
- India’s retail inflation rate rose for the first time in five months in June, driven by a sharp increase in food prices, according to government data released on Friday. Annual retail inflation reached 5.08% in June, up from 4.75% in May. This was slightly higher than economists’ forecast of 4.80% based on a Reuters poll. Food prices, which constitute nearly half of the retail inflation basket, surged by 9.36% year-on-year in June, compared to an 8.69% rise in May. Food prices have been accelerating at a rate exceeding 8% year-on-year since November 2023.
- India’s retail inflation rate rose for the first time in five months in June, driven by a sharp increase in food prices, according to government data released on Friday. Annual retail inflation reached 5.08% in June, up from 4.75% in May. This was slightly higher than economists’ forecast of 4.80% based on a Reuters poll. Food prices, which constitute nearly half of the retail inflation basket, surged by 9.36% year-on-year in June, compared to an 8.69% rise in May. Food prices have been accelerating at a rate exceeding 8% year-on-year since November 2023.
- Oil prices have slipped in early Asian trading hours on Monday, with Brent Crude down nearly 0.5%. This decline comes amid ongoing market volatility and reflects investor sentiment.
| EMERGING | LATEST | % 1D |
| Hang Seng | 18,293 | 2.6 % |
| Shanghai Composite | 2,971 | 0.0 % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 40,001 | 0.6 % |
| DAX | 18,748 | 1.2 % |
| FTSE 100 | 8,253 | 0.4 % |
| Nikkei | 41,191 | (2.5) % |
| Straits Times | 3,498 | 0.7 % |
