INDIA
Sensex, Nifty climb nearly 8% in July as rate hike fears ease, commodities soften, FIIs return
Markets were extremely oversold with FIIs selling nearly $28.70 billion so far this year. This selling spree reduced in July to $146 million from more than $6.34 billion they sold in June
EARNINGS
Early Birds: Margins take a hit on commodity price volatility in June quarter
A Moneycontrol analysis of 169 companies, which have announced their June quarter earnings and for which data is available for the 25 preceding quarters, shows that aggregate operating profit margin was at 20.83%, the lowest growth since June 2020
INDIA
Rare sighting: FPIs turn net buyers of Indian stocks for second straight day
Since October 2021 till date, foreign institutional investors sold over $34.41 billion while in the year so far they have sold $29.64 billion of Indian equities.
INDIA
Rupee hits 80 mark versus dollar for first time as oil boils
At 9.10 am, rupee was trading at 80.01 a dollar, down 0.03% from its previous close. It opened at 79.99 and touched a fresh record low of 80.02.
INDIA
Rupee hits fresh record low, closes at 79.98 vs US dollar
The currency opened at 79.75 and touched an all time low of 79.9825. So far this year, the currency has weakened 7.05 percent.
EARNINGS
Smallcap, midcap stocks find takers as global commodity prices soften
With commodity prices easing and rural sentiment turning positive, the Nifty Midcap and Nifty Smallcap indices have seen a rally. The indices have risen nearly 7 percent and 4 percent, respectively, in July 2022.
INTERVIEW
MC Interview | Rupee may be down to 81 to a dollar by the end of this year: Vivek Kumar of QuantEco Research
Allowing global trade settlement in rupees is the first major step on the long road of internationalising the currency, but there is unlikely to be any near-term impact on the current account deficit, Kumar said
BUSINESS
Rupee hits fresh record low for 4th straight session
At 9.20am, the rupee was trading at life low of 79.77, down 0.17% from its previous close of 79.64.
BUSINESS
10 year bond yield falls four basis points as inflation cools off a bit
At 9.22am, the 10 year bond yield was trading at 7.36% versus its previous close of 7.395%. Bond yield and prices move in opposite directions.
IPO
Gurugram-based property developer Signature Global India files draft papers for Rs 1,000 crore IPO
Proceeds worth Rs 330 crore from the issue will be used to repay debt of the firm. As of May, Signature Global's total debt stood at Rs 537.96 crore.
BUSINESS
Autos are back in favour among analysts; defensives see downgrades
Moneycontrol Analysts’ Call Tracker June 2022 reveals underperforming stocks of the past year inching back in favour
BUSINESS
It's going to be a mixed bag of first-quarter earnings for investors
Given the mixed performance expected by companies for Q1 of FY23, analysts have slashed earnings per share estimates
INTERVIEW
MC Interview | Bank of Baroda’s chief economist on recent RBI measures
"The measures invoked by the RBI on the capital account have the potential to increase foreign inflows and strengthen the balance of payments. The amounts have to be large to counter the current account deficit which will in turn stabilise the rupee."
INDIA
Sinking commodity prices deflate earnings hope as metal firms hurt
The imposition of hefty export duties on steel will lead to a decline in realisations for steel companies that have resorted to exports in the past few years, experts say
EARNINGS
Sensex, Nifty decline 5% in June alone, steepest in 27 months, as FIIs flee Indian equities
In June, Sensex and Nifty lost 4.9 percent each, its steepest fall since March 2020. Both the indices hovered near one-year lows. The rupee at the same time lost 1.8% and the 10-year bond yields stayed flat
COMPANIES-2
Buybacks likely to slow down as market uncertainty continues
Companies would rather hold cash to fund working capital requirements or potential acquisition opportunities.
EARNINGS
Wipro and IT shares lose charm, but banks are courting investors
Since the start of 2020, Covid-led disruptions had been a blessing in disguise for IT and consumer goods stocks, spurring increased adoption of digital technology and demand for consumer products. Such demand has slackened
IPO
Officer's Choice whisky maker Allied Blenders files papers for Rs 2,000-crore IPO
The IPO will consist of a fresh issue of Rs 1,000 crore and an offer for sale of shares worth up to Rs 1,000 crore by promoters and shareholders
COMPANIES-2
Past is no guide for traders looking to manoeuvre around US Fed rate hikes
The current quantum and pace of rate hikes is unprecedented. This could have far-reaching repercussions on the global economy, experts say.
BUSINESS
Rupee continues to tumble, BofA now sees it at 81 to a dollar by December
This year, the Indian currency has already declined 5% due to continuous dollar outflows from local markets. Foreign investors have sold equities worth around $27.22 billion, so far, this year
BUSINESS
Bear Market Woes: 83% of Nifty 500 stocks give negative returns in 2022
While the Nifty 500 lost 12 percent, the BSE Sensex and Nifty 50 have declined nearly 9 percent each. However, long-term investors are viewing this as an opportunity to buy good growth stocks at attractive valuations.
BUSINESS
Consumer durable stocks slide on falling demand, slowdown fears
The BSE consumer durables index has fallen more than 11% in the last 15 sessions and analysts expect the pain to continue
BUSINESS
Domestic institutional investors pump record Rs 2 trillion into equity market so far this year
Investors have been taking advantage of the correction in the market; also DIIs have been net buyers for 16 consecutive months even as FIIs have been net sellers.
MARKETS
Rupee hits fresh record low, weakens past 78 a dollar on global equity slump, inflation worries
FII's sold $23.87 billion in domestic equities so far this year amid higher crude that continues to stock worries about higher inflation and fiscal deficit.
