Opening Bell:
Gift Nifty is up by 197.0 points in the early morning trade, indicating a negative opening for Indian stock market
Asian markets saw gains on Friday, buoyed by a strong overnight rally on Wall Street following positive economic data. Japan’s Nikkei 225 surged 2.26%, with the Topix advancing 2.08%. South Korea’s Kospi climbed 2%, and the Kosdaq increased by 1.53%. Meanwhile, Hong Kong’s Hang Seng index futures pointed to a higher opening.
The U.S. stock market closed higher on Thursday, with the Nasdaq leading the gains, rising over 2% after the release of July retail sales data. The Dow Jones Industrial Average jumped 554.67 points, or 1.39%, to close at 40,563.06. The S&P 500 gained 88.01 points, or 1.61%, ending at 5,543.22, while the Nasdaq Composite climbed 401.90 points, or 2.34%, to finish at 17,594.50.
Stocks News:
👉 Hindustan Zinc plans to announce a second interim dividend for FY25, with a board meeting set for August 20, 2024, and a record date of August 28. The company aims to distribute ₹8,000 crore as a special dividend. Meanwhile, Vedanta, the promoter, will sell a 3.17% stake in Hindustan Zinc through an offer-for-sale (OFS) from August 16-19. The OFS has a base size of 1.22%, with an option to sell an additional 1.95% if oversubscribed, at a floor price of ₹486 per share.
👉 Glenmark Pharmaceuticals reported a net profit of ₹340.27 crore for Q1FY25, more than doubling from ₹149.9 crore in the same quarter last year. The company’s total revenue from operations grew by 7% to ₹3,244.2 crore, while operating income surged 34% to ₹588 crore, with an EBITDA margin of 18.1%.
👉 Tata Steel: The company has acquired 115.92 crore shares worth $182 million ( ₹1,528.24 crore) of its Singapore-based subsidiary, T Steel Holdings Pte, in a strategic move to enhance its international presence and operational efficiency.
👉 Hindustan Aeronautics reported a 76% YoY increase in net profit to ₹1,435 crore for Q1FY25, driven by an 80% rise in other income to ₹737 crore. EBITDA grew 13% to ₹993.7 crore, with margins improving to 22.8%. However, concerns remain about meeting delivery timelines for the Tejas Light Combat aircraft and reduced engine deliveries from General Electric.
👉 The foreign institutional investors (FIIs) sold equities worth Rs 2595 crore on August 14, while domestic institutional investors sold equities worth Rs 2236 crore on the same day.
Domestic and International Events
- India’s exports to China dropped by 9.44% in July, while imports surged by 13.05%, amplifying a trade deficit. Cumulative data from April-July 2024-25 revealed a deficit of USD 31.31 billion. However, exports to the US and several other nations showed growth, according to commerce ministry data.
- U.S. retail sales rose more than expected in July, increasing by 1.0% after a downwardly revised 0.2% drop in June. Economists polled by Reuters had forecast a 0.3% rise, following an earlier report of no change in June.
- Crude oil prices increased due to estimates of shrinking US crude and gasoline inventories. Brent crude futures climbed 0.50% to $81.09 per barrel, while US West Texas Intermediate crude rose 0.63% to $78.84 per barrel.
| EMERGING | LATEST | % 1D |
| Hang Seng | 17,109 | (0.0) % |
| Shanghai Composite | 2,877 | 0.9 % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 40,563 | 1.4 % |
| DAX | 18,183 | 1.7 % |
| FTSE 100 | 8,347 | 0.8 % |
| Nikkei | 36,727 | 0.8 % |
| Straits Times | 3,316 | 0.9 % |
