Share markets in India are presently trading marginally lower.
The BSE Sensex is trading down by 176 points, down 0.3%, at 52,676 levels.
Meanwhile, the NSE Nifty is trading down by 43 points
Hindalco and Bajaj Finance are among the top gainers today. Dr Reddy's and Cipla are among the top losers today.
The BSE Mid Cap index is trading down by 0.2%.
The BSE Small Cap index is trading up by 0.3%.
On the sectoral front, stocks from the metal sector are witnessing most of the buying interest.
On the other hand, stocks from the healthcare sector and energy sector are witnessing most of the selling pressure.
US stock futures are trading lower today, indicating a negative opening for Wall Street.
Nasdaq Futures are trading down by 18 points (down 0.1%) while Dow Futures are trading down by 80 points (down 0.2%).
The rupee is trading at 74.42 against the US$.
Gold prices are trading down 0.1% at Rs 47,420 per 10 grams.
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Gold prices were trading flat in domestic markets today following a muted trend in international spot prices, as investors turn cautious ahead of this week's US Federal Reserve meeting outcome.
On MCX, August gold contracts were trading marginally lower at Rs 47,450 per 10 grams.
The Fed is likely to affirm that a strong US recovery and a plan for an eventual policy shift both remain underway, a Reuters report said.
Note that large stimulus measures tend to support gold, which is often considered a hedge against inflation and currency debasement.
To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?
Moving on to stock-specific news...
Among the buzzing stocks today is L&T.
Infrastructure giant Larsen & Toubro reported a 287% year on year (YoY) rise in consolidated net profit at Rs 11.7 bn for the June 2021 quarter, which was below analysts' estimates.
The construction major also reported a 38% YoY rise in consolidated revenue at Rs 293 bn, which also missed Street estimates.
The year on year performance of the company was aided by a low base in the year ago quarter, which was affected by the national lockdown to contain the Covid-19 pandemic.
The infrastructure segment posted a 63% YoY growth in revenue at Rs 104 bn aided by better execution of projects.
The segment saw an improvement in profitability as operating margin expanded 80 basis points YoY to 7.1% due to higher recovery of of overheads and better job mix.
The hydrocarbon segment had a muted quarter in terms of order inflows but recorded 37% YoY revenue growth. The segment's margins saw a staggering improvement of 4.3% YoY to 9.6%.
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With the waning of the second wave of the pandemic and lockdown restrictions progressively being eased in recent weeks, signs of pick up in economic activity are visible, L&T said.
The company is optimistic of its growth aspirations in the medium term as the economic outlook improves and is committed to creation of sustainable returns to stakeholders.
We will keep you posted on more updates from this space. Stay tuned.
At the time of writing, L&T shares were trading up by 0.9% on the BSE.
Speaking of the stock markets, India's #1 trader, Vijay Bhambwani, shares why he is sticking to his energy trading blueprint, in his latest video for Fast Profits Daily.
Tune in here to find out more:
Moving on to news from the startup space...
Ahead of its initial public offering (IPO), lifestyle e-commerce firm Nykaa has converted into a public entity.
The stakeholders of the company have passed a special resolution changing the status of the company from private to public, as per regulatory filings.
The company is now named FSN e-commerce Ventures.
In a regulatory filing, Nykaa said,
Founded by former investment banker Falguni Nayar, Nykaa is expected to go public at a valuation of US$ 4.5 bn. It is targeting to raise US$ 700 m through the IPO.
The company is expected to file its draft Red Herring Prospectus (DRHP) soon.
Nykaa's website which logs 55 m monthly visits, lists over 1,200 brands ranging from makeup and skincare to health supplements.
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Nykaa has six warehouses across India, which receive over 13 m orders every month.
How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.
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This compares favourably to the IRRs of 9.6% for the Sensex, and 8.8% for the smallcap index in the same period (February 2008 - June 2020) as can be seen in the chart below.
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To know what's moving the Indian stock markets today, check out the most recent share market updates here.
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Read the latest Market Commentary
What else is happening in the markets today? Dig in...
Indian share markets open higher. The BSE Sensex opened up by 130 points, while the Nifty is trading higher by 47 points.
Jul 27, 2021 09:41 AMINOX LEISURE share price is trading up by 13% and its current market price is Rs 344. The BSE 500 is up by 0.4%. The top gainers in the BSE 500 Index is INOX LEISURE (up 13.5%). The top losers are GSK PHARMA and TUBE INVESTMENTS OF INDIA .
Jul 27, 2021 09:35 AMTATA STEEL share price has hit an all time high at Rs 1,321 (up 1.2%). The BSE METAL Index is up by 1.3%. Among the top gainers in the BSE METAL Index today are TATA STEEL (up 1.2%) and JSW STEEL (up 0.8%).
Jul 27, 2021 09:33 AMPFIZER share price is trading up by 5% and its current market price is Rs 6,001. The BSE HEALTHCARE is up by 0.5%. The top gainers in the BSE HEALTHCARE Index are PFIZER (up 5.2%) and CAPLIN POINT (up 7.3%). The top losers are SUN PHARMA (down 0.3%) and IPCA LABS (down 0.4%).
Jul 27, 2021 09:33 AMZENSAR TECHNOLOGIES share price is trading up by 6% and its current market price is Rs 414. The BSE IT is up by 0.2%. The top gainers in the BSE IT Index is ZENSAR TECHNOLOGIES (up 6.1%). The top losers are ORACLE FINANCIAL and CYIENT (down 0.1%).
Jul 27, 2021 09:33 AMINOX WIND share price is trading up by 5% and its current market price is Rs 117. The BSE CAPITAL GOODS is down by 0.2%. The top gainers in the BSE CAPITAL GOODS Index is INOX WIND (up 5.4%). The top losers are BHARAT ELECTRONICS (down 0.3%) and V GUARD INDUSTRIES (down 0.3%).
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