Get App
PRE-MARKET REPORT
The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open lower on Monday following a sharp sell-off in the global markets.
Gift Nifty was trading around 24,388 level, a discount of nearly 310 points from the Nifty futures’ Friday close, indicating a sharply negative start for the Indian stock market indices.
The US stock market ended lower for a second straight session on Friday, and the Nasdaq Composite confirmed it was in correction territory, amid fears of an oncoming recession.
The Dow Jones Industrial Average declined 610.71 points, or 1.51%, to 39,737.26, while the S&P 500 slumped 100.12 points, or 1.84%, to 5,346.56. The Nasdaq Composite ended 417.98 points, or 2.43%, lower at 16,776.16.
Asian markets extended the sell-off on Monday following a slump in the US stock market last week
Japan’s Nikkei 225 and Topix plunged around 7% each. South Korea’s Kospi declined 3.9%, while the Kosdaq dropped 3.5%. Hong Kong Hang Seng index futures indicated a lower opening.
STOCKS TODAY
Infosys: Infosys said the Directorate General of Goods and Services Tax Intelligence (DGGI) is closing the pre-show cause notice proceedings for the financial year 2017-2018 worth Rs 3,898 crore. On July 31, India’s second-largest IT company received a demand for alleged tax evasion of over Rs 32,000 crore from the DGGI.
State Bank of India: SBI reported around a 1 percent rise in its net profit to Rs 17,035.16 crore in the first quarter of the current financial year. On a sequential basis, net profit fell 17.7 percent. The gross non-performing assets (NPA) ratio of the bank stood at 2.21 percent as of June 30, as compared to 2.24 percent as of March 31, and 2.76 percent on June 30, 2023.
Titan: Jeweller and watchmaker Titan Ltd said its standalone net profit fell by 1 percent to Rs 770 crore in the June quarter as compared to Rs 777 crore in the year-ago period as higher gold prices deterred demand.
Britannia Industries: The Indian biscuit maker Britannia Industries on reported a consolidated net profit of Rs 524 crore for the June quarter, a growth of 14.5 percent from the same quarter of the previous financial year at Rs 458 crores.
Bank of India: Public sector lender Bank of India reported a 10 percent rise in its net profit to Rs 1,702.7 crore in the first quarter of the current financial year, compared to Rs 1,551 crore in the same quarter last year.
Amara Raja Energy: Amara Raja Energy & Mobility, a comprehensive solutions provider in the Energy & Mobility space, on August 3 reported a 25.6 percent increase in consolidated profit after tax at Rs 249.12 crore in the first quarter ended June 30, 2024.