Market LIVE Updates: Indices trade lower; power, PSU banks gain, IT, realty stocks fall

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August 02, 2022 / 01:49 PM IST

Stock Market LIVE Updates: Among sectors realty index down 1 percent, while Power and PSU Bank indices up 1-3 percent.

  • August 02, 2022 / 02:02 PM IST

    Zomato stock hits upper circuit:

     Zomato stock hits upper circuit :

  • August 02, 2022 / 02:00 PM IST

    Market update at 2 PM: Sensex is down 47.10 points or 0.08% at 58068.40, and the Nifty shed 25.70 points or 0.15% at 17314.30.

      Market update at 2 PM: Sensex is down 47.10 points or 0.08% at 58068.40, and the Nifty shed 25.70 points or 0.15% at 17314.30.

  • August 02, 2022 / 01:49 PM IST

    Jubilant Pharmova Q1 results

    Jubilant Pharmova has posted 70 percent fall in its Q1 net profit at Rs 47 crore against Rs 160.6 crore and revenue was down 11.2% at Rs 1,451.7 crore versus Rs 1,634.7 crore, YoY.

    Jubilant Pharmova was quoting at Rs 361.80, down Rs 9.70, or 2.61 percent.

  • August 02, 2022 / 01:45 PM IST

    Buzzing:

    Shares of Rakesh Jhujhunwala-backed Nazara Technologies continued to rise for another day on August 2 after the gaming company reported its June quarter numbers. The stock has surged 35 percent in just two sessions.

    In its earnings announcement in the week gone by, the company said its revenue increased 70 percent to Rs 223 crore as against Rs 131 crore in the same quarter last year. Sequentially, it grew 27 percent. Margins though suffered and fell 940 basis points.

    The company delivered a net profit of Rs 16.5 crore, registering a growth of 22 percent year on year (YoY) and 237 percent quarter on quarter (QoQ).

  • August 02, 2022 / 01:42 PM IST

    Buzzing

    Shares of Rakesh Jhujhunwala-backed Nazara Technologies continued to rise for another day on August 2 after the gaming company reported its June quarter numbers. The stock has surged 35 percent in just two sessions.

    In its earnings announcement in the week gone by, the company said its revenue increased 70 percent to Rs 223 crore as against Rs 131 crore in the same quarter last year. Sequentially, it grew 27 percent. Margins though suffered and fell 940 basis points.

    The company delivered a net profit of Rs 16.5 crore, registering a growth of 22 percent year on year (YoY) and 237 percent quarter on quarter (QoQ).

     Buzzing       Shares of Rakesh Jhujhunwala-backed Nazara Technologies continued to rise for another day on August 2 after the gaming company reported its June quarter numbers. The stock has surged 35 percent in just two sessions.      In its earnings announcement in the week gone by, the company said its revenue increased 70 percent to Rs 223 crore as against Rs 131 crore in the same quarter last year. Sequentially, it grew 27 percent. Margins though suffered and fell 940 basis points.      The company delivered a net profit of Rs 16.5 crore, registering a growth of 22 percent year on year (YoY) and 237 percent quarter on quarter (QoQ).

  • August 02, 2022 / 01:40 PM IST

    Saregama India Q1 Earnings:

    Saregama India has posted 52 percent jump in its Q1 net profit at Rs 41.4 crore against Rs 27.2 crore and revenue was up 61.3% at Rs 169.3 crore versus Rs 105 crore, YoY.

    Saregama India was quoting at Rs 420.25, up Rs 1.30, or 0.31 percent.

  • August 02, 2022 / 01:37 PM IST

    Bank of India Q1 Earnings:

    Bank of India has reported 22 percent fall in its Q1 net profit at Rs 561.5 crore versus Rs 720 crore and Net interest income (NII) was up 29.5% at Rs 4,072 crore versus Rs 3,145 crore, YoY.

    Bank Of India was quoting at Rs 50.65, up Rs 1.55, or 3.16 percent.

  • August 02, 2022 / 01:32 PM IST

    Yes Bank extends rally to test highest level since January 2021 on reports of Aditya Puri may join lender’s board

      Yes Bank extends rally to test highest level since January 2021 on reports of Aditya Puri may join lender's board

  • August 02, 2022 / 01:34 PM IST

    Yes Bank extends rally to test highest level since January 2021 on reports of Aditya Puri may join lender’s board

      Yes Bank extends rally to test highest level since January 2021 on reports of Aditya Puri may join lender's board

  • August 02, 2022 / 01:28 PM IST

    Ravi Modani, Founder & CEO, 121 Finance

    I feel MPC will not increase the interest rates, and this will be a balancing act to maintain the local demand, after calibrating it with the loss of potential export demand from the US reaching a recession. With good monsoons in place, they would like to maintain the domestic consumer demand. 

    Already the WPI has eased substantially with commodity prices going down and growth in CPI seems to have plateaued for the moment. With non-US Dollar currencies being used to pay for crude, India is quite comfortable with its reserves. Only the reduced inflow of forex might be a cause of worry, especially after the Fed’s 75 bps increase, for which the recent measures of RBI to attract Indian diaspora for NRE deposits will balance it substantially. Overall, I do not see any increase and this should act as a catalyst to maintain the economic growth.

  • August 02, 2022 / 01:23 PM IST

    Emkay Global Financial Services

    The MPC is likely to unanimously vote for 35bps or so hike in the policy rate this week, with limited change in the broad outlook of domestic macro realities. 

    Global externalities and financial conditions have incrementally become more stable as markets anticipate near-peak inflation and Fed-hawkishness, led by falling risk premia of the entire commodity price complex. 

  • August 02, 2022 / 01:20 PM IST

    Tirthankar Das, Head of Technical Research, Ashika Group:

    Nifty formed a long bullish candle with bullish runaway gaps indicating that the trend remains intact and is likely to continue its positive momentum. On the oscillator front there are still no signs of exhaustion, or any reversal signal are being unfolded. 

    On the contrary, weekly RSI clocked breakout from 6 months falling trend line indicating long term positive bias. The psychological level of 17000 which further coincides with the 200 dma would be the immediate short term trend deciding level for the market. 

    On the upside the elevated target level for Nifty is around 17500 (being 80% retracement of two-month decline (18100-15183). Improving market breadth measured by percentage of stocks above 50 & 200DMA within Nifty 500 universe augurs well for durability of ongoing up move. Hence, intraday dip towards 17190-17222 can be used creating a long position for the target of 17500.

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