Opening Bell:
Gift Nifty is down by 95.0 points in the early morning trade, indicating a negative opening for Indian stock market
Asian markets dipped on Tuesday, influenced by a mixed performance on Wall Street overnight and the start of the Bank of Japan’s two-day monetary policy meeting. Japan’s Nikkei 225 fell by 0.57%, and the Topix declined by 0.56%. In South Korea, the Kospi dropped 0.73%, while the Kosdaq slipped 0.4%. Futures for Hong Kong’s Hang Seng index also suggested a lower opening.
The US stock market finished Monday’s volatile session with mixed results. The Dow Jones Industrial Average dropped 49.41 points, or 0.12%, to close at 40,539.93. In contrast, the S&P 500 rose 4.44 points, or 0.08%, to finish at 5,463.54, while the Nasdaq Composite increased by 12.32 points, or 0.07%, ending at 17,370.20. Tesla shares surged 5.6%, and McDonald’s saw a gain of 3.7%. However, Abbott Laboratories experienced a decline of 0.4%. Coinbase Global shares fell by over 3%, and both Riot Platforms and Marathon Digital dropped more than 5%.
Stocks News:
👉 Larsen & Toubro (L&T): The company has secured multiple contracts worth between ₹2,500 crore and ₹5,000 crore to establish electricity substations and transmission lines. These projects are part of L&T’s ongoing efforts to enhance India’s power infrastructure, aimed at meeting the growing demand for electricity across the country.
👉 Bharat Electronics Limited (BEL): For the April-June quarter, BEL reported a significant net profit increase of 46.21% year-on-year, reaching ₹776.14 crore. The surge in profit is attributed to robust sales across its defense and electronics segments, driven by increased government spending on defense modernization and technology upgrades.
👉 Adani Total Gas: The company announced a 14.39% rise in quarterly net profit, amounting to ₹171.84 crore. This growth can be linked to an increase in sales volume and the expansion of its gas distribution network, reflecting strong demand in both industrial and residential sectors..
👉 JSW Energy: A subsidiary of JSW Energy has received a letter of intent from Gujarat Urja Vikas Nigam Limited (GUVNL) for the establishment of a 192 MW power project. Additionally, the company has secured an option for an extra 96 MW under a green shoe option, indicating potential for further expansion in renewable energy capacity, aligning with India’s commitment to sustainable energy solutions.
👉 The foreign institutional investors (FIIs) sold equities worth Rs 2474 crore on July 29, while domestic institutional investors bought equities worth Rs 5665 crore on the same day.
Domestic and International Events
- The government’s debt, including external borrowing and other liabilities, is expected to rise to Rs 185 lakh crore (56.8% of GDP) this fiscal year, up from Rs 171.78 lakh crore (58.2% of GDP) in March 2024. India’s GDP reached USD 3.57 trillion in 2023-24. Private final consumption expenditure grew 6.8% in 2022-23 and 4% in 2023-24
- US inflation rose moderately in June. The personal consumption expenditures (PCE) price index increased by 0.1% last month after being unchanged in May. Over the 12 months through June, the PCE price index climbed 2.5%, following a 2.6% rise in May. Economists polled by Reuters had forecast both the monthly headline PCE and core inflation to rise by 0.1% in June.
- Japan’s labor market remained tight in June, with the unemployment rate decreasing to 2.5%, down from 2.6% in May. Economists had anticipated that the rate would remain unchanged at 2.6%.
- Crude oil prices traded higher on Monday from near a six-week low ahead of the OPEC meeting later in the week. Brent crude gained 0.21% to $81.30 a barrel after falling 1.5% on Friday, marking its third consecutive weekly drop. West Texas Intermediate (WTI) crude rose 0.05% to $77.20 a barrel.
| EMERGING | LATEST | % 1D |
| Hang Seng | 17,019 | (1.3) % |
| Shanghai Composite | 2,869 | (0.8) % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 40,540 | (0.1) % |
| DAX | 18,320 | (0.5) % |
| FTSE 100 | 8,286 | 0.1 % |
| Nikkei | 38,158 | (0.8) % |
| Straits Times | 3,442 | (0.0) % |
