SBI showed healthy loan growth and stable asset quality with the lowest retail slippages among large banks. Its loan-to-deposit ratio is 69%, below the sector average. Core NIM improved by 6 basis points QoQ. Nuvama has a positive outlook, and fresh equity from SBI could address stock concerns.
India's services sector continued to exhibit strong performance in July, with the HSBC index reading 60.3, slightly down from June. Growth was propelled by technology investments, online services, and new business. Although costs increased, favorable conditions bolstered employment and a positive future outlook.
Activity in India's dominant services sector remained strong in July due to robust demand, resulting in significant job creation, despite elevated cost pressures leading to the highest selling-price inflation in seven years, as revealed by a survey.
The French contingent will comprise three Rafale fighter jets, one Multirole Tanker Transport (MRTT) aircraft, and one A400M, with a total of 160 Air Force personnel, according to French Embassy in India press release.
A total of 3,326 shares changed hands on the counter till 10:30AM (IST)
It is worries about a recession. They are somewhat well-founded, a little bit overdone, but nevertheless an expectation of Federal Reserve reducing interest rates in response to those somewhat well-founded worries may be a little bit premature.
On August 2, three Nifty500 stocks closed 2% below their VWAP, indicating potential bearish trends and increased selling pressure.
Tata Motors, ONGC, Hindalco, Tata Steel and Tech Mahindra were among the top losers on NSE.
On August 2, three Nifty500 stocks closed over 2% above their VWAP, signaling a potential bullish trend, as per StockEdge.com's scan, suggesting positive market sentiment.
A total of 23,988 shares changed hands on the counter till 10:20AM (IST).
After severe cloudbursts in Himachal Pradesh, relief and rescue operations were conducted in Samej village. The Lahual Spiti Police reported traffic disruptions on Highway 3. Minister Vikramaditya Singh mentioned missing persons and feared fatalities. Immediate relief was announced, and multi-agency efforts are in place for rescue and restoring connectivity.
The Calcutta High Court has restrained Parle Biscuits from selling products under the 'Top Gold Star' brand, favoring SAJ Food Products' Bisk Farm. The court found a prima facie case for trademark infringement, allowing Parle to use 'Top' without 'Gold'. The next hearing is on August 27, 2024.
August 2024 is marked by a wealth of Hindu festivals and observances, particularly in the month of Sawan, which ends on August 19. Significant events include Pradosh Vrat, Sawan Shivratri, Rakshabandhan, and Krishna Janmashtami. The month features numerous religious practices and fasts, such as the third and fourth Shravana Somwar fasts, Hariyali Teej, Nag Panchami, and Kalki Jayanti. With its rich tapestry of festivities, August 2024 offers a vibrant array of celebrations for devotees across India.
China's stock indices showed modest gains following accelerated growth in services activity for July. The Shanghai Composite increased by 0.07%, and the CSI300 rose by 0.24%. Meanwhile, concerns over a potential U.S. recession weighed down Hong Kong stocks and global markets, pushing investors towards safer bonds and away from riskier assets.
A total of 5,346 shares changed hands on the counter till 10:15AM (IST)
The 30-share BSE Sensex was down 1449.2 points at 79532.75
The Chinese yuan reached its highest point against the U.S. dollar in seven months due to a stronger Japanese yen and investors reversing carry trades. The weak U.S. labor data and potential Federal Reserve rate cuts contributed to the yuan's rise. Future movements hinge on Chinese exporters' decisions and domestic economic factors.
Gold and silver futures contracts saw gains with gold on the MCX opening at Rs 70,150 per 10 grams and silver at Rs 83,100 per kilogram. Price volatility was noted due to international tensions and economic concerns.
A total of 7,469 shares changed hands on the counter till 10:09AM (IST)
The 30-share BSE Sensex was down 1463.81 points at 79518.14
Mexico's peso plummeted to levels unseen since late 2022 on Sunday, trading at 19.4120 units per dollar, amid U.S. recession fears. This marked a 1.30% decline from Friday's reference price and the peso's third consecutive day of losses, driven by weak U.S. manufacturing and labor market data.
Cholesterol foods: Rich in soluble fibre, oats help reduce cholesterol absorption into the bloodstream, making them an excellent choice for breakfast.
The stock quoted a 52-week high price of Rs 690.95 and a 52-week low of Rs 486.75.
