Indian stock markets plunged today due to U.S. recession fears, with the Sensex dropping over 2,400 points and Nifty falling below 24,300. The market capitalisation of BSE-listed companies fell by Rs 10.24 lakh crore. Major stocks like Tata Motors and Tata Steel were hit hard. Social media buzzed with reactions, highlighting investor anxiety.
The Supreme Court ruled on Monday that the lieutenant governor of Delhi has the authority to nominate aldermen to the Municipal Corporation of Delhi (MCD), marking a significant setback for the AAP government.
On the technical charts, the 200-day moving average of the stock stood at Rs 1603.44.
As of August 2, futures open interest rose over 7.5% for five NSE F&O stocks, indicating increased market activity.
The sharp decline in LGD prices has hit several international companies hard. Notably, WD LGD, the largest LGD maker in the US, went bankrupt last year. Similarly, De Beers halted its LGD production for jewelry in May, and French firm Diam Concept entered receivership in July. In such a backdrop, Indian companies are capitalising on their inherent cost advantages.
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The stock quoted a 52-week high of Rs 9191.1 and a 52-week low of Rs 6406.6.
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A total of 1,387 shares changed hands on the counter till 10:56AM (IST)
In the Nifty pack, 5 stocks were trading in the green, while 45 stocks were trading in the red.
The central government is considering making amendments to the Waqf Act which could restrict the power of the Waqf Board said sources. According to the sources, 32-40 amendments are being considered in the Waqf Board Act. Waqf Act was first passed by Parliament in 1954. Subsequently, it was repealed and a new Waqf Act was passed in 1995 which gave more powers to Waqf Boards.
A total of 4,886 shares changed hands on the counter till 10:51AM (IST)
On August 2, six Nifty500 stocks showed a White Marubozu pattern, signaling strong buying pressure and potential bullish trends.
The 30-share BSE Sensex was down 1848.38 points at 79133.57
A total of 2,952 shares changed hands on the counter till 10:45AM (IST).
On the fifth anniversary of the abrogation of Article 370, security measures have been heightened across Jammu and Kashmir. While the BJP celebrates with the 'Ekatma Mahotsav' rally, opposition parties protest, calling it a "black day." Increased security, including checkposts and patrols, aims to prevent unrest amidst ongoing terror threats. The event underscores deep divisions over the 2019 constitutional change.
The Indian market is expected to stay under pressure on Monday due to weak global cues. The Nifty Future fell 1.33% to 24,700 on Friday, and India's VIX rose 11.41% to 14.40. Options data show maximum Call open interest at 26,000 and 25,500 strikes, and maximum Put open interest at 24,000 and 24,100 strikes.
Titan's shares dropped by nearly 7.5% following a 1% YoY decline in net profit for Q1 FY25, despite a 9.3% increase in revenue. Brokerages retain optimism, with target prices reaching Rs 4,100. Lower growth in the jewellery sector was offset by improved margins through cost optimization.
A total of 16,450 shares changed hands on the counter till 10:40AM (IST).
The NSE Nifty index was trading 480.21 points down at 24237.5
Nine Kanwariyas lost their lives and several others were injured when their vehicle made contact with a high-voltage overhead wire in Bihar's Hajipur. According to police reports, the incident happened because the vehicle they were in was very high and came into contact with a high-tension wire. "Eight devotees died on the spot; one Kanwariya died during treatment in the hospital," authorities confirmed.
Social media buzzed when a trader commented that a Rs 25 lakh salary is unimpressive for tech professionals in India. While some argued this is common for mid-career professionals, especially in startups, others said such high salaries are less common. The debate highlighted differences in pay across companies post-COVID-19.
Over the past five years, five equity mutual funds have multiplied investors' SIP investments by more than 2.5 times. Quant Small Cap Fund led with a 49.38% XIRR. Other notable performers included Nippon India Small Cap Fund and Motilal Oswal Midcap Fund. Investors should consider personal risk appetite before making decisions.
The stock traded at a P/E multiple of 47.96, while the price-to-book value ratio stood at 3.25.
Arrow Greentech, Gokul Agro Resources, GHCL Textiles, Wealth First Portfolio Managers and Lux Ind., hit their fresh 52-week highs at 10:34AM.
