business

LIVE: Sensex at 66,000; will the momentum continue in earnings-heavy week? HDFC Bank, DMart in focus

Markets hit a fresh record high on Friday, July 14, backed by another day of stellar rally in technology stocks and positive global cues on falling inflation in the United States. The Nifty notched a record close to shut shop above the 19,550 mark for the first time ever while the Sensex clocked in its highest close ever, above the 66,000 mark. Will the momentum sustain as we enter an earnings-heavy week? The GIFT Nifty signals an open above the 19,600 mark even as China’s Q2 GDP misses expectations. Among key earnings this week – Index heavyweight Reliance Industries, banking behemoths such as HDFC Bank, ICICI Bank and Kotak Mahindra Bank; and other biggies like Infosys, HUL among others will hand in their first quarter report card this week. Stocks in focus today are HDFC Bank, Bandhan Bank, LTIMindtree and JustDial. Meanwhile, the IPO rush continues on Dalal Street with Netweb Technologies’ Rs 630 crore issue kicking off for subscription today, on July 17. Catch Nandita Khemka in conversation with Rajesh Palviya of Axis Securities; and Nirav R Karkera, Head - Research, Fisdom. Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

first published: Jul 17, 2023 08:43 am