business

Live: Indian equity markets poised for an August rally? Maruti Q1 impresses; DLF, PVR in focus

Indian equity markets extended their record-breaking rally in July to clock a fifth straight month of gains. The record run has been fueled by sustained buying from foreign investors and earnings reports for the June quarter that have largely met expectations. Benchmark indices, Sensex and Nifty, have gained nearly 2.7% each in July, while the BSE MidCap and SmallCap indices have jumped over 5 percent and 7 percent, respectively. Since April, Sensex and Nifty have surged 15% each while BSE Smallcap index has advanced nearly 28%. Will the upmove continue in August, or will 19,990 remain a short-term top for the Nifty? Lots of stocks in focus this morning including Maruti, Escorts, Easytrip & Spandana Sphoorty. Also investors will watch out for July auto sales figures that will trickle in through the day today. Meanwhile, stocks like RIL, ONGC and Oil India will be in focus as govt has hiked the windfall tax on crude to Rs 4,250/tonne. Catch Nandita Khemka in conversation with Sacchitanand Uttekar, Vice president- Research (Derivatives And Technicals) At TradeBulls Securities and Saji John, Lead Analyst - Automotive at Geojit Financial Services.

first published: Aug 1, 2023 08:39 am