Opening Bell:
Gift Nifty is down by 22.5 points in the early morning trade, indicating a negative opening for Indian stock market
Asian markets showed mixed performance on Monday, as investors awaited key economic data from the US and China due later this week. Japan’s Nikkei 225 experienced a slight decline, with the Topix index down by 0.17%. In contrast, South Korea’s Kospi edged up by 0.21%, and the Kosdaq increased by 0.42%. Meanwhile, futures for Hong Kong’s Hang Seng index suggested a lower opening.
The US stock market closed higher on Friday, with the tech-heavy Nasdaq and benchmark S&P 500 reaching record highs. The Dow Jones Industrial Average rose by 67.87 points, or 0.17%, to close at 39,375.87. The S&P 500 increased by 30.17 points, or 0.54%, ending at 5,567.19. The Nasdaq Composite saw a significant gain of 164.46 points, or 0.90%, finishing at 18,352.76.
Stocks News:
👉 FSN E-Commerce Ventures (Nykaa) anticipates a year-over-year revenue growth of approximately 22-23% for Q1. The company expects the gross merchandise value (GMV) to grow in the mid-twenties range. For its beauty vertical, Nykaa projects a revenue growth of around 22-23%, with GMV growth expected to be higher, in the high twenties. The fashion vertical is expected to achieve a revenue growth of about 20%, while its GMV growth is projected to be lower, in the mid-teens.
👉 In Q1, Adani Wilmar experienced a 13% year-over-year volume growth, with branded exports rising by 36%. The edible oil segment saw a 13% increase in volume and a 10% growth in value. The Food and FMCG segment reported a 46% increase in volume and a 45% growth in value. However, the industry essentials segment registered an 8% decline in volume.
👉 In Q1, Titan Company reported strong year-over-year growth across its business segments. The standalone business saw a 9% increase, while Titan expanded its retail network by adding 61 stores, reaching a total of 3,096 stores. The Jewellery segment grew by 9%, and the Watches & Wearables segment showed robust growth of 15%. The EyeCare segment registered a 3% increase, and emerging businesses saw a 4% growth. CaratLane, a subsidiary of Titan, performed exceptionally well with an 18% growth in this period.
👉 In Q1, Bank of Baroda reported strong year-over-year growth across its global business metrics. The bank’s global business expanded by 8.52% to reach Rs 23.77 lakh crore, driven by an 8.14% increase in global advances to Rs 10.72 lakh crore and an 8.83% rise in global deposits to Rs 13.06 lakh crore. Domestically, deposits grew by 5.25% to Rs 11.05 lakh crore, while domestic advances increased by 8.51% to Rs 8.81 lakh crore.
👉 The foreign institutional investors (FIIs) bought equities worth Rs 1,241 crore on July 5, while domestic institutional investors sold equities worth Rs 1,651 crore.
Domestic and International Events
- US employment increased solidly in June, but the unemployment rate rose to a 2.5-year high of 4.1%, indicating a slackening labour market. The Labor Department’s closely watched employment report revealed that the economy created 111,000 fewer jobs in April and May than previously estimated. Nonfarm payrolls increased by 206,000 jobs in June, boosted by government hiring. Economists polled by Reuters had forecast an increase of 190,000 jobs for the month.
- Japan’s inflation-adjusted real wages fell in May for a record 26th consecutive month, according to Reuters. Government data showed that real wages dropped by 1.4% in May, a steeper decline than April’s 1.2%. This decrease was driven by a weakening yen and higher commodity prices, which increased the cost of imports. Despite this, Japan’s base pay rose by 2.5% in May compared to the previous year, marking the fastest growth since 1993 and surpassing the 1.9% increase in the headline figure.
- The People’s Bank of China (PBOC) announced that it will conduct temporary bond repurchase or reverse repurchase operations based on the market situation during working days. The central bank stated that these measures aim to maintain reasonable and sufficient liquidity in the banking system.
- Crude oil prices traded mixed ahead of reports from OPEC and the IEA expected this week. Brent crude futures dipped by 0.14% to $86.42 a barrel after four consecutive weeks of gains, while West Texas Intermediate (WTI) crude futures decreased by 0.30% to $82.91 a barrel.
| EMERGING | LATEST | % 1D |
| Hang Seng | 17,800 | (1.3) % |
| Shanghai Composite | 2,950 | (0.3) % |
| DEVELOPED | LATEST | % 1D |
| Dow Jones | 39,376 | 0.2 % |
| DAX | 18,475 | 0.1 % |
| FTSE 100 | 8,204 | (0.5) % |
| Nikkei | 40,912 | 0.0 % |
| Straits Times | 3,411 | (0.9) % |
