FMCG and pharma stocks have surged up to 23% over the last month, proving their defensive strength, while the Nifty50 has declined amid high volatility and a 27% rise in the India VIX. The Nifty FMCG and Pharma indices have gained 8% and 7.7%, respectively, versus a 0.11% drop in the broader Nifty.
Bangladesh prepares for a new interim government led by Nobel laureate Muhammad Yunus following Prime Minister Sheikh Hasina's resignation amidst student protests. Yunus, known as the 'banker to the poor', was recommended by protesters and is set to be sworn in with a team of advisers. Hasina fled to India, triggering jubilation and violence, while opposition leaders call for calm and national elections within three months.
The Indian rupee edged up early on Thursday, supported by gains in Asian currencies and ahead of the Reserve Bank of India's monetary policy decision. The currency was trading at 83.93 against the U.S. dollar. Despite reaching an all-time low on Wednesday, RBI interventions have helped maintain the rupee above the critical 84 level.
DG BSF was given an operational briefing by IG Tripura Frontier and further DG BSF chaired a meeting with senior officers of BSF and discussed the ongoing law and order situation in Bangladesh and its implications on the security scenario.
As rioters clashed with police in some towns and cities, Musk joined the debate on his X platform, posting that civil war was "inevitable" in Britain. Prime Minister Keir Starmer's spokesperson said there was "no justification" for such comments. While those inciting violence online can be prosecuted individually, the government has no way to force social media companies to police their platforms until the Online Safety Bill comes into effect.
Three Nifty500 stocks closed over 3% above the VWAP, suggesting a potential bullish trend. This indicates the closing price exceeded the volume-weighted average, signaling positive market sentiment.
On a monthly basis, demand fell by 1.7% in the world's third-biggest oil importer and consumer.
Vinesh Phogat, at 29, retired after being disqualified from the Paris Olympics 50kg freestyle wrestling final for being overweight. Despite the setback, Haryana will honor her like an Olympic silver medallist. Phogat received support from peers and officials, and she has appealed to the Court of Arbitration for Sport. Bajrang Punia has expressed his support for Vinesh Phogat.
BHEL, REC, HPCL, Ceat, and BPCL, among others, have set August 9 as the record date for dividend eligibility. Today is the last day to purchase shares to qualify for these dividends.
Indigo Paints Ltd., incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 6972.90 Crore) operating in Building Materials sector.
Indian wrestler Vinesh Phogat was disqualified from the 2024 Paris Olympics for exceeding the weight limit by 100 grams. This disqualification, prior to her gold medal match, led her to appeal to the Court of Arbitration for Sports (CAS) for a silver medal. Despite her efforts, Phogat announced her retirement, expressing her heartbreak on social media.
Sensex and Nifty dipped early in anticipation of the RBI's decision to keep interest rates steady. Major stocks such as JSW Steel and Infosys experienced losses, whereas Tata Motors and others showed gains. Godrej Consumer Products and Apollo Tyres saw significant declines after reporting lower-than-expected profits.
The stakes of that question have heightened as artificial intelligence hurtles forward, bringing with it the specter of job displacement. A recent estimate by Goldman Sachs found that generative AI could eventually automate activities that amount to the equivalent of some 300 million full-time jobs globally -- many of these in office roles like administrators and middle managers.
Raymond Ltd., incorporated in the year 1925, is a Mid Cap company (having a market cap of Rs 12870.70 Crore) operating in Textiles sector.
Minister Hardeep Singh Puri highlighted the need for India to engage in global economic frameworks. The book, featuring contributions from various diplomats, examines India's past and future economic engagements. Puri stressed the critical role of international trade and investments in enhancing India's economic prospects.
Seven stocks in the Nifty200 hit a 5-year swing high, suggesting bullish potential. This high marks a significant resistance level, signaling possible further upward movement, unlike a 5-year breakout.
In the options market, the maximum call OI is at the 25,000 strike, followed by the 24,800 strike. The maximum put OI is at the 24,000 strike, followed by the 24,100 strike. Call writing is observed at the 24,700 and 24,900 strikes, while put writing is seen at the 24,100 and 24,200 strikes.
IIFL Finance Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 18687.73 Crore) operating in NBFC sector.
Brigade Enterprises Ltd. key Products/Revenue Segments include Income From Real Estate Development, Lease Rentals, Other Services, Other Operating Revenue for the year ending 31-Mar-2024.
Cummins India Ltd., incorporated in the year 1962, is a Mid Cap company (having a market cap of Rs 103909.81 Crore) operating in Engineering sector.
Godrej Consumer Products Ltd. key Products/Revenue Segments include Personal Care and Other Operating Revenue for the year ending 31-Mar-2024.
BofA has maintained a buy rating on Tata Motors with a target price of Rs 1,280. The upcoming SUV coupe, 'Curvv,' is expected to address a significant market gap and advance Tata Motors' electric vehicle (EV) efforts. Additionally, the new internal combustion engine (ICE) platform, ATLAS, will support future launches.
RBI MPC Meet 2024 Highlights: The Reserve Bank of India's Monetary Policy Committee (MPC) maintained its key interest rate and stance unchanged. The MPC, led by Governor Shaktikanta Das, will adhere to the 'withdrawal of accommodation' monetary policy stance. The repo rate is remains at 6.50% for the ninth consecutive time. India's CPI stood at 5.1% in June due to a surge in vegetable prices.
A short iron butterfly spread is a four-legged options strategy that combines a bull put spread and a bear call spread. In this strategy, the short put and short call have the same strike price. All options share the same expiration date, and the three strike prices are equidistant from each other.