Sensex today: Live stock market updates: Sensex around 54,500; Clever nearly 16,200; IT, Energy, Automotive Brilliance; Real estate is lagging; L&T climbs 4%

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Sensex today live: Indian stocks rose on Friday and were poised to post a third consecutive weekly gain, led by automaker Mahindra on securing investment for its electric vehicle unit, while IT giant Tata Consultancy Services was set to kick off earnings season later in the day. The overnight rise in US equities and firm signals from other Asian markets, as well as lower crude oil prices, also contributed to market sentiment.

TCS, meanwhile, slightly outperformed its quarterly results. Computer science major reports double-digit year-over-year profit increase on more than 15% increase in revenue. Margins are shrinking due to wage increases.

“The current rally is driven in part by expectations that, given the steady decline in commodity prices, inflation will start to show a downward trend allowing central banks to slow rate hikes a bit, and partly by short hedging. It is quite likely that central banks may not tighten policy as much as the market previously feared. If emerging data points to the possibility of a soft landing for the US economy, the recovery may accelerate,” says Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Trade Highlights:

  • TCS trades lower ahead of Q1 results
  • M&M climbs 5% as automaker seeks investment in new electric vehicle entity
  • Buffett’s Berkshire buys another 12 million shares of Occidental

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India has extended the deadline for exporting 800,000 tonnes of sugar by two weeks as annual monsoon rains make it difficult for many producers to move stocks from factories to ports, the government said on Friday.

Price as of Jul 08, 2022 11:29Click on company names for their live prices.

Shriram City Union Finance (SCUF) said it had received shareholder and creditor approval for its merger with Shriram Transport Finance Company.

Price as of Jul 08, 2022 11:21 a.m.Click on company names for their live prices.

Nifty Metals: How Stocks Stack Up

June AMFI data

@Jefferies downgrades IT companies. #HCLTech, #TechMahindra rated “Hold”. The brokerage is selective on the sector with @Infosys at the top of the list.

NSE wiretap case

  • Under MHA direction, CBI is filing a new case against former NSE chiefs Chitra Ramkrishna, Ravi Narain and former Mumbai Police Commissioner Sanjay Pandey for allegedly tapping the phones of NSE employees between 2009 and 2017.

  • According to the MHA complaint, Isec Securities, a company launched by Pandey, was asked to carry out illegal surveillance of NSE employees by former NSE chiefs

Here’s how IT stocks are doing today

Price as of Jul 08, 2022 10:31 a.m.Click on company names for their live prices.

The rupee drops 12 paise to 79.25 against the US dollar in early trading

The rupiah depreciated 12 paises to 79.25 against the US dollar in early trading on Friday, following the strength of the US currency and continued outflows of foreign funds. On the interbank exchange, the rupee opened at 79.20 against the US dollar, then lost ground to quote at 79.25, registering a drop of 12 paise since the last close. On Thursday, the rupiah closed at 79.13 against the dollar.

Bank of Baroda plans to raise capital by issuing long-term bonds to finance the infrastructure and affordable housing sectors in the country.

Price as of Jul 08, 2022 10:19Click on company names for their live prices.

According to CLSA, the risk-reward ratio on Hindalco is favorable even in a risky scenario. He believes the stock’s underperformance is overdone given relatively resilient earnings. Novelis’ results over the past 15 years indicate steady growth. CLSA sees limited decline assuming a strong correction in Novelis profitability. This brokerage has a target of Rs 580 on the stock.

Price as of Jul 08, 2022 10:18 a.m.Click on company names for their live prices.

Top winners at this time

Price as of Jul 08, 2022 10:07Click on company names for their live prices.

Crypto Price Today: Polygon, Shibu Inu, Bitcoin Rise Up to 11% in 24 Hours

  • Major cryptocurrencies by market capitalization have gained up to 11% in the past 24 hours, led by Polygon, Shibu Inu, Bitcoin and Ethereum amid rising risk appetite.

  • Bitcoin, the largest cryptocurrency, jumped 7.83% in the past 24 hours to $21,961.59 and was up 8.15% in the past seven days.

  • Ethereum gained 6.71% to $1,249.91, taking its weekly rise to 14.36%. XRP advanced 7.17% to $0.3528.
Crypto Price Today: Polygon, Shibu Inu, Bitcoin Rise Up to 11% in 24 Hours

Vedanta said it will acquire debt-ridden Athena Chhattisgarh Power for Rs 564.67 crore. The company’s liquidation process was initiated in March last year.

Price as of Jul 08, 2022 09:59Click on company names for their live prices.

British International Investment will invest up to Rs 1,925 crore or $250 million in a new passenger electric vehicle company to be established by Mahindra & Mahindra.

Price as of Jul 08, 2022 09:57Click on company names for their live prices.

This is how the Nifty Real Estate index is doing

Price as of Jul 08, 2022 09:47Click on company names for their live prices.

USD-INR July Future

USD-INR July Future

Stocks to Buy Today: 5 Expert Short-Term Trading Ideas for July 8

Stocks to Buy Today: 5 Expert Short-Term Trading Ideas for July 8

TCS will announce the results today. The IT major is expected to see a nearly 15% year-on-year (YoY) increase in revenue and a 7-11% year-on-year increase in June quarter earnings. Commentary on demand could be strong, although the margin may be affected by wage increases.

Price as of Jul 08, 2022 09:32Click on company names for their live prices.

Voda Idea, SAIL, ONGC among the most active stocks on NSE

Price as of Jul 08, 2022 09:31Click on company names for their live prices.

The recovery of Nifty and Nifty Midcap by 6% and 10% respectively from their recent lows indicates the resilience of the markets and its potential to reach new highs in a favorable macroeconomic context. The current rally is driven in part by expectations that, given the steady decline in commodity prices, inflation will start to show a downward trend allowing central banks to slow rate hikes a bit, and partly by a short cover. It is highly likely that central banks will not tighten policy as much as the market previously feared. If the new data points to the possibility of a soft landing for the US economy, the recovery could gain momentum. Therefore, commodity prices need to be watched closely.

– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Target actions: Indiabulls Housing Fin, Star Health, TCS, Tata Motors, Dr Reddy’s Labs, Vedanta, etc.

Opening bell: Sensex gains 275 points, Nifty exceeds 16,200 points; M&M, Hind Zinc rise 3% each

Opening bell: Sensex gains 275 points, Nifty exceeds 16,200 points;  M&M, Hind Zinc rise 3% each

Asian markets rise in early trade

Asian stocks opened higher on Friday after gains on Wall Street as investors focused on further data expected in the coming days for clues on U.S. monetary policy. MSCI’s broadest Asia Pacific ex-Japan equity index rose 0.81%.

SGX Nifty reports positive start

Nifty futures on the Singapore Stock Exchange traded 128 points, or 0.79%, at 16,261, signaling Dalal Street was heading for a positive start on Friday.

Quarterly results today

Tata Consultancy Services, MMTC, Kohinoor Foods, Shrenik, Brahmaputra Infrastructure, Morarka Finance and Spectrum Foods are among the companies to announce their quarterly results today.

Technical View: Nifty50 above the 50-day SMA; even more upside down possible

Nifty50 closed above its 50-day simple moving average on Thursday and formed a bullish candle on the daily chart, with a long wick. Analysts said that since the breakout of 15,900, the technical pattern of the index looks positive. They think a push above the 16 150-175 range could attract further buying.

Oil plunges as investors torn over tight supply worries and recession fears

Oil prices fell in early Asian trading on Friday, following a rebound in the previous session, as investors remained torn between worries about a global supply crunch and fears a recession could dampen demand of oil.

Tokyo stocks open higher with eyes on US data

Shares in Tokyo opened higher on Friday after gains on Wall Street as investors focused on further data expected in the coming days for clues on US monetary policy. The benchmark Nikkei 225 rose 0.49%, or 129.69 points, to 26,620.22 in early trading, while the broader Topix index rose 0.35%, or 6.63 points, at 1,888.96.

S&P and Nasdaq end higher as July hot streak continues

Wall Street’s benchmarks ended Thursday, with the S&P 500 and Nasdaq posting their fourth straight higher closes, as traders eyed U.S. stocks after the Federal Reserve hinted at a more tempered program of interest rate hikes.

The rupee resumes its slide and falls by 19 paise to 79.13 against USD

Resuming its slide after a day’s pause, the rupee fell 19 paise to close at 79.13 against the U.S. dollar on Thursday, as a greenback firmed overseas and relentless foreign capital outflows offset the slowdown. impact of the RBI’s measures to support the national currency.

Sensex, Nifty on Thursday

The 30-pack of Sensex shares advanced 427 points or 0.80% to close at 54,178. Its broader counterpart, Nifty50, rose 143 points 0.89% and managed to close above the low mark. 16,000.

Hello, dear reader! Here’s something to start your trading day

Hello, dear reader!  Here's something to start your trading day

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