Stock Market LIVE: Sensex climbs over 850 points, Nifty tops 24,350; Nifty IT surges 2%
Opening Bell: Indian bourses saw heavy buying interest at open on Friday, as the benchmark Sensex surged 789 points to 79,675, while the Nifty50 climbed 0.98 per cent or 235 points to 24,352 levels
 "Stock market, BSE, NSE, Union Budget, Budget 2024")
Opening Bell: Indian bourses saw heavy buying interest at open on Friday, as the benchmark Sensex surged 789 points to 79,675, while the Nifty50 climbed 0.98 per cent or 235 points to 24,352 levels.
The BSE Sensex saw only gainers with IT stocks taking the centre stage and the likes of Tech Mahindra, Infosys, TCS and HCL Tech gaining 2 per cent each.
The BSE Sensex saw only gainers with IT stocks taking the centre stage and the likes of Tech Mahindra, Infosys, TCS and HCL Tech gaining 2 per cent each.
Similarly, Eicher Motors, ONGC, Tata Motors and Tech Mahindra were on the leaderboard on the NSE, while HDFC Life was the only laggard.
The broader markets also showed strength, with the MidCap index soaring 0.89 per cent, while the SmallCap index surging by 0.90 per cent.
Sectorally all indices were trading in green with Nifty IT, Nifty Metal, Nifty Auto, and Nifty Oil and Gas leading the charts.
9:33 AM
Eicher Motors zooms 4% on strong Q1 show
The company's Q1 profit saw an increase of 19.9 per cent Y-o-Y to Rs 1,101.5 crore from Rs 918.3 crore. Revenue grew 10.2 per cent to Rs 4,393 crore, up from Rs 3,986.4 crore. Ebitda rose 14.2 per cent to Rs 1,165.4 crore with an expanded margin of 26.5 per cent, compared to 25.6 per cent previously.
9:31 AM 
Oil India gains nearly 3% after Q1 results
For Q1, Oil India saw a profit decline of 9.1 per cent Y-o-Y to Rs 1,466.8 crore from Rs 1,613.4 crore. However, revenue, excluding excise duty, grew 17.7 per cent to Rs 5,331.9 crore.
9:28 AM
Biocon slips 1% on weak operational earnings in Q1
The company reported a 550.6 per cent increase in profit to Rs 659.7 crore in Q1FY25, up from Rs 101.4 crore in Q1FY24. Revenue rose marginally 0.3 per cent to Rs 3,432.9 crore, with other income increasing to Rs 1,134.5 crore.
9:26 AM![]()
LIC share price up over 1% after Q1 results
In Q1FY25, new business premiums surged 26.96 per cent to Rs 58,470 crore, up from Rs 46,052 crore (Q1FY24). The total annual premium equivalent (APE) increased by 21.3 per cent to Rs 11,560 crore. The net value of new business (VNB) grew 23.65 per cent to Rs 1,610 crore. Net profit climbed 9.6 per cent to Rs 10,461 crore.
9:23 AM
Broader market check :: Mid, SmallCap indices rise 0.8% each
9:22 AM
Sensex Heatmap :: HCL Tech, Tech M gain 2% each, TaMo, M&M other gainers
9:20 AM
Sectoral trends :: IT, Auto, Metal indices lea d the broad-based rally
9:19 AM
Stock Market Opening Bell :: Nifty opens above 24,350
9:17 AM
Stock Market Opening Bell :: Sensex gains over 700 pts in early deals
9:11 AM
Pre-Open Session :: Sensex leaps over 1,000 pts on global relief rally
9:09 AM
Pre-Open Session :: Nifty soars over 250 pts, nears 24,400
9:04 AM
Rupee Update :: Rupee opens at 83.94/$ vs Thursday's close of 83.96/$
8:59 AM
Indian valuations continue to remain elevated and, therefore, there is no room for sustained rally in the market. Tech stocks are likely to stage a recovery today drawing inspiration from the positive US cues.
(View by: Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services) ![]()
Market view: No room for sustained rally in the market
The sharp rebound in US markets yesterday indicates that the recession fears were a bit overdone. The latest initial jobless claims came lower than expected indicating that the labour market is not loosening as many sceptics feared.
However, it is important to understand that the US economy is slowing down, and along with the struggling Chinese economy, it can pull down global growth in the near term.
However, it is important to understand that the US economy is slowing down, and along with the struggling Chinese economy, it can pull down global growth in the near term.
Indian valuations continue to remain elevated and, therefore, there is no room for sustained rally in the market. Tech stocks are likely to stage a recovery today drawing inspiration from the positive US cues.
(View by: Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services)
8:56 AM 
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Gold price dips Rs 10 to Rs 69,260, silver falls Rs 100 to Rs 81,400
Gold Price Today:The price of 24-carat gold dipped Rs 10 in early trade on Thursday, with ten grams of the precious metal trading at Rs 69,260, according to the GoodReturns website.
The price of silver fell Rs 100, with one kilogram of the precious metal selling at Rs 81,400. The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 63,490. Read more
The price of silver fell Rs 100, with one kilogram of the precious metal selling at Rs 81,400. The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 63,490. Read more
8:41 AM![]()
Nomura eyes 25 bp rate cut by RBI in Oct, 75 bp in FY25
>>The combination of softer growth and inflation, along with increased degrees of freedom from the expected turn in the global monetary policy cycle indicates that the October meeting is live, Nomura said.
>>Nomura retained its view that the RBI will deliver a 25 baisi points (bp) cut, with 75 bp of easing in FY25.
>>The RBI retained its FY25 CPI inflation forecast of 4.5 per cent.
>>Though, Nomura's estimates show that its upward revision of the July-September quarter (from 3.8 per cent to 4.4 per cent) is unlikely to materialise, as food prices are already reversing in August.
>>Nomura retained its view that the RBI will deliver a 25 baisi points (bp) cut, with 75 bp of easing in FY25.
>>The RBI retained its FY25 CPI inflation forecast of 4.5 per cent.
>>Though, Nomura's estimates show that its upward revision of the July-September quarter (from 3.8 per cent to 4.4 per cent) is unlikely to materialise, as food prices are already reversing in August.
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First Published: Aug 09 2024 | 7:02 AM IST
