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Mangoes as a Metaphor in L&T Mutual Fund s Investing Ke Aam Tarikey campaign
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Market ahead: Ahead of Market: 12 things that will decide stock action on Friday
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Reliance Retail Ventures, subsidiary of Reliance Industries, will take controlling stake in Just Dial
The domestic stock markets are likely to open in the red in line with negative global cues. Trends on SGX Nifty indicate a gap-down opening for the Nifty, with a 216-points loss. At 7:30 am, the Nifty futures were trading at 15,305, lower by 216 points or 1.6 per cent, on the Singapore Stock Exchange.
On Friday, the Sensex and Nifty touched fresh record highs of 53,290.81 and 15,962.25 respectively in intraday trading, before ending flat.
Stocks to watch in trade in today s session
HDFC Bank
HDFC Bank, the country s largest private sector lender, has reported a 16.1 per cent year-on-year (YoY) rise in net profit at Rs 7,729.64 crore in the quarter ended June 30, 2021. The bank had posted a net profit of Rs 6,658.62 crore in the corresponding quarter a year ago.
How are the bluechips doing?
After opening in the red, benchmark indices extended the fall. At 02.20 pm, BSE flagship Sensex was down 626 points or 1.18 per cent to 52,513.57. NSE benchmark Nifty dropped 182 points or 1.15 per cent to 15,740.45.
In the 50-share pack Nifty, BPCL was the biggest gainer, up 1.31 per cent. Divi s Lab, NTPC, Tata Consumers,
Nestle, Britannia and L&T were among other gainers.
HDFC Bank was the top loser in the pack, down 3.44 per cent.
IndusInd Bank, Adani Ports, HDFC, Axis Bank, HDFC Life and Hindalco were other losers in the pack.
FACTORS DRIVING MARKETS
Bad news:
Economic recovery falters: Global economic growth is beginning to show signs of fatigue. Economists at Bank of America downgraded their forecast for US economic growth to 6.5 per cent this year, from 7 per cent previously, but maintained their 5.5 per cent forecast for next year.
HDFC Bank: The country s largest private sector lender reported a 14.36 per cent growth in its consolidated net profit at Rs 7,922.09 crore. The city-headquartered bank had posted a consolidated net profit of Rs 6,927.24 crore in the corresponding quarter a year ago.
Bajaj Auto: The two wheeler manufacturer said it has commenced bookings for its electric scooter Chetak in Nagpur from July 16. With the aim of providing a seamless and convenient booking experience, customers can book the vehicle exclusively online on www.chetak.com for Rs 2,000, it said.
ITC: Total foreign exchange earning of the group from exports in FY 21 rose 29.08 per cent to Rs 5,934 crore, the company s latest annual report said. While, the foreign exchange earned by ITC Ltd was up 31.2 per cent to Rs 4,600 crore, mainly on account of exports of agri-commodities.
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