Moneycontrol Selects: Top stories this afternoon

A round-up of the big stories

Here is a collection of our most important stories this afternoon:

Dalal Street Week Ahead | Corporate earnings, FII funds flow, macro data & all that will dictate D-St next week

The market saw reversal of gains for the first time in last five weeks and ended a week of rangebound movement on July 28 on a negative note. Mixed Q1 earnings, increasing oil prices, FII outflow, rising US dollar and bond yields, and another possible rate hike signalled by the US Federal Reserve after a 25-bps increase in Fed funds rate in July policy meeting weighed on the sentiment. Read more.

ITC, HDFC Bank lead 7 of India Inc. Top 10 in Rs 77,434.98-crore loss to market valuation

The combined market valuation of seven of the top-10 most valued firms fell by Rs 77,434.98 crore last week, with ITC and HDFC Bank taking the biggest hit, in line with a muted trend in equities.

Last week, the BSE benchmark fell by 524.06 points or 0.78 per cent.  Read more.

FPIs' buying spree continues; invest Rs 45,365 cr in equities in July

Foreign portfolio investors (FPIs) continue with their buying spree in July with a net infusion of Rs 45,365 crore in Indian equity markets on stable macroeconomic fundamentals and steady earnings growth.

However, it appears that the momentum of buying has slowed down and FPIs turned sellers during the two trading days ahead of the US Federal Reserve meeting on July 26. Read more.

MC Selects

ICC World Cup 2023 online tickets sales likely to begin by August 10: Reports

The Board of Control for Cricket in India (BCCI) is likely to start online sale of tickets of the ICC World Cup from August 10. It has been reported that the cricket watchdog has sought suggestions from all the associations involved in hosting the mega tournament. Cricket fans will, however, have to produce paper tickets to enter the stadium during the event. Read more.

Tech biggies fail to charm, foreign institutions pull out $2.12 bn amid demand slump

Foreign inflows have had a big role in the Indian market’s recent record-breaking sprint but they cut stake in the big information technology players in the June quarter, the latest shareholding patterns show, as the IT sector grapples with global economic uncertainty. Read more.