Opening Bell:
Gift Nifty is down by 13.5 points in the early morning trade, indicating a negative opening for Indian stock market
On Tuesday, Asian markets showed a mixed performance. In Japan, the Nikkei 225 rose by 0.75% and the Topix gained 0.88%. South Korea’s Kospi was marginally higher, while the Kosdaq declined by 1.4%. Meanwhile, Hong Kong’s Hang Seng index futures indicated a lower opening. These movements reflect varied investor sentiment across different Asian markets.
On Monday, the US stock market ended higher, with the Dow Jones Industrial Average reaching an all-time closing high amid increasing expectations of a second Donald Trump presidency. The Dow Jones Industrial Average rallied 210.82 points, or 0.53%, to close at 40,211.72. The S&P 500 rose by 15.87 points, or 0.28%, to 5,631.22, while the Nasdaq Composite closed 74.12 points, or 0.40%, higher at 18,472.57.
Stocks News:
👉 Jio Financial Services reported a net profit rise of 0.64% for Q1FY25, reaching Rs 312.6 crore compared to Rs 310.6 crore in the same quarter of the previous year. However, the company’s revenue fell slightly by 0.07%, totaling Rs 417.8 crore versus Rs 418.1 crore in the previous year’s corresponding quarter.
👉 For Q1FY25, Angel One reported significant growth in its consolidated year-on-year performance. The profit jumped 32.6% to Rs 292.7 crore, up from Rs 220.8 crore in the same quarter of the previous year. Revenue spiked by 74%, reaching Rs 1,405.5 crore compared to Rs 807.5 crore in the corresponding quarter of the previous year.
👉 For Q1FY25, Hatsun Agro Product reported a notable year-on-year performance. Net profit surged by 62.9% to Rs 130.5 crore, up from Rs 80.1 crore in the same quarter of the previous year. Revenue increased by 10.4%, reaching Rs 2,375 crore compared to Rs 2,150.6 crore in the corresponding quarter of the previous year. Additionally, the company declared an interim dividend of Rs 6 per share.
👉 Hindustan Unilever’s board has approved the sale of its water purification business, Pureit, to A O Smith India Water Products for $72 million (Rs 601 crore) on a slump sale basis. This divestment reflects the company’s strategic focus moving forward.
👉 The foreign institutional investors (FIIs) extended their buying as they bought equities worth Rs 2684 crore, while domestic institutional investors extended their selling as they sold equities worth Rs 331 crore, on July 15.
Domestic and International Events
- India’s goods and services exports likely rose by 5.4% year-on-year to $65.47 billion in June, driven by a pick-up in orders that could push total exports to $800 billion in the current fiscal year ending in March 2025, according to the trade secretary. Meanwhile, merchandise imports in Asia’s third-largest economy increased by 5% to $56.18 billion in the same month, reflecting a rise in domestic demand for industrial machinery and gold imports.
- Goldman Sachs (GS.N) aims to raise $2 billion for its first Asia Pacific-focused private equity fund, according to two sources familiar with the bank’s fundraising plans. This move is part of Goldman Sachs’ strategy to deepen its exposure to some of the world’s fastest-growing economies. The fundraising effort comes at a time when private equity firms in Asia are reshaping their investment strategies and country allocations due to geopolitical tensions, higher interest rates, market volatility, and macroeconomic headwinds.
- Crude oil prices traded lower due to concerns about a slowing Chinese economy potentially reducing demand. Brent futures fell by 0.05% to $84.81 a barrel, while US West Texas Intermediate (WTI) crude dropped by 0.07% to $81.85 a barrel.
- Gold prices remained steady on Tuesday, driven by expectations that the Federal Reserve will cut interest rates this year. Spot gold was at $2,422.12 per ounce, while US gold futures dipped slightly by 0.1% to $2,425.60 per ounce.
| EMERGING | LATEST | % 1D |
| Hang Seng | 18,016 | (1.5) % |
| Shanghai Composite | 2,974 | 0.1 % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 40,212 | 0.5 % |
| DAX | 18,591 | (0.8) % |
| FTSE 100 | 8,183 | (0.9) % |
| Nikkei | 41,191 | (2.5) % |
| Straits Times | 3,498 | 0.7 % |
