Sensex, Nifty Extending Gains On Positive Global Cues, Strong Earnings

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(RTTNews) - The Indian market remains fairly well placed in positive territory Friday morning, led by strong gains in technology, automobile and metal stocks.

A positive lead from Wall Street where stocks rebounded from early weakness to close on a firm note amid rising speculation that the Fed will slowdown the pace of its interest rate hikes, and a slew of encouraging earnings updates set up a positive start for Indian stocks this morning.

Investors are also reacting to earnings announcements from Indian companies.

The benchmark BSE Sensex, which climbed to 57,531.75, gaining nearly 675 points in the process, has pared some gains and is up 542.54 points or 0.95 percent at 57,400.33.

The National Stock Exchange's Nifty index is up 171.90 points or 1.02 percent at 17,101.50, about 40 points off a high of 17,141.75 it touched earlier this morning.

TVS Motor is gaining 5.7 percent on strong earnings. The companh reported consolidated profit of Rs 296.75 crore for the April-June quarter, as against a loss of Rs 14.72 crore in the year-ago quarter.

Ashok Leyland is up 4.3 percent, Mahindra & Mahindra, Bajaj Auto, Eicher Motors, HeroMotocorp and Tata Motors are gaining 1 to 1.7 percent.

Technology stocks Tech Mahindra and Infosys are gaining 2.3 percent and 2.1 percent, respectively. Mphasis, L&T Infotech, MindTree, Wipro, HCL Technologies and Tata Consultancy Services aer also up sharply.

Tata Steel, the top gainer in the Metal index, is soaring more than 7 percent, a day after turning ex-stock split in the ratio of 1:10. As per the stock-split announcement, shareholders of the company received 10 shares for each share they were holding in their account as of June 28.

Vedanta is gaining about 4 percent. Vedanta reported a marginal 4.6% rise in its consolidated net profit at Rs 4,421 crore in the April-June quarter.

Jindal Steel, SAIL, Hindalco, NMDC, JSW Steel, Hindustan Copper, Ratnamani Metals and National Aluminium are up 2 to 4.3 percent.

Dr Reddy's Laboratories Ltd. has reported a 108 percent (YoY) jump in consolidated profit at Rs 1,187.60 crore for the quarter ended June 2022. Despite the whopping surge in earnings, the pharma major's shares are down more than 3 percent this morning.

Bajaj Finserv, NTPC, Titan Industries, Bharti Airtel, Bajaj Finance, Asian Paints and HDFC are up 1.3 to 3 percent.

Sun Pharmaceuticals Industries is declining 1.4 percent. State Bank of India, ITC and Hindustan Unilever are modestly lower.

TSX Hovers Near Record High; Materials, Energy Stocks Shine Again

Materials and energy stocks are among the prominent gainers in the Canadian market, which is up in positive territory in mid afternoon trades on Thursday.

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Swiss Market Ends Weak

The Switzerland market ended modestly lower on Thursday after languishing in negative territory right through the day's trading session, as the mood remained cautious with investors looking ahead to speeches from central bank chiefs at Federal Reserve's Jackson Hole Symposium.

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European Stocks Close On Mixed Note Again

European stocks turned in another mixed performance as investors stayed a bit cautious on Thursday, looking ahead to Federal Reserve's symposium at Jackson Hole, Wyoming, and largely shrugging off trade concerns. Investors also digested the latest batch of regional economic data, including flash estimates of manufacturing and services sector activity in the major economies.

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Eurozone Consumer Confidence Weakens More Than Expected In August

Euro area consumer sentiment deteriorated more than expected in August to a four-month low, after a strong improvement in the previous month, preliminary results of the monthly survey by the European Commission revealed on Thursday.

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U.S. Leading Economic Index Edges Down In Line With Estimates In July

A reading on leading U.S. economic indicators edged slightly lower in the month of July, according to a report released by the Conference Board on Thursday. The Conference Board said leading economic index slipped by 0.1 percent in July after falling by 0.3 percent in June. The modest decrease matched economist estimates.

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U.S. Existing Home Sales Unexpectedly Rebound In July

The National Association of Realtors released a report on Thursday showing an unexpected rebound by existing home sales in the U.S. in the month of July. The report said existing home sales jumped by 2.0 percent to an annual rate of 4.01 million in July after tumbling by 2.7 percent to an annual rate of 3.93 million in June.

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Walmart Shares Hit As Q2 Profit Misses Street, Updates FY26 Outlook Below View

Shares of Walmart Inc. were losing around 5 percent in the morning trading after the retail behemoth reported second-quarter earnings below market estimates, despite a significant year-over-year growth. Meanwhile, net sales were higher and beat the Street estimates.

RTTNews | 6h 2minuter sedan

Philly Fed Index Unexpectedly Returns To Negative Territory In August

Manufacturing activity in the Philadelphia area has weakened in the month of August, the Federal Reserve Bank of Philadelphia revealed in a report released on Thursday. The Philly Fed said its diffusion index for current general activity tumbled to a negative 0.3 in August from a positive 15.9 in July, with a negative reading indicating contraction.

RTTNews | 6h 13minuter sedan

EURUSD	1.16047	GBPUSD	1.34129	AUDUSD	0.64216
USDJPY	148.371	USDCAD	1.39066	USDCHF	0.80896