Stock Market News Live: Axis Bank Drags Nifty, Wipro Top Gainer

The top gainer pulling up the index was Wipro as the shares gainer over 3% after posting first quarter results. Jio Financial Services, Tata Steel and Infosys were also trading in the green.

The deepest losses of the lot were marked by Axis Bank after asset quality deteriorated in first quarter results. Bharti Airtel, Kotak Mahindra Bank and SBI were also trading in the red.

Stock Market News Live: Nifty Opens Above 25,000, Sensex Trades Flat

As the market opened muted, the gains in the Nifty 50 were led by Wipro while the top loser was Axis Bank.

Stock Market Live Update: Nifty, Sensex Gain Pre-Open

At pre-open, the NSE Nifty 50 was trading 12 points or 0.05% lower at 25,100. The BSE Sensex was 95 points higher at 82,331.

Rupee Vs Dollar Today: Indian Currency Opens Weaker

Rupee opened 6 paise lower at 86.13 against the US Dollar. It closed at 86.07 on Thursday according to Bloomberg.

Wipro: What Jefferies Say Post Q1 Results  

  • Maintain an ‘Underperform’ rating; Hike target price to Rs 235 from Rs 200.

  • While the overall outlook is improving, the potential for upside in the stock appears capped.

  • Revenues are currently facing pressure due to challenges in large verticals.

  • A healthy pipeline of deal wins is expected to improve the future revenue outlook.

  • However, the ramp-up of these new deals is anticipated to impact profit margins.

Wipro: Morgan Stanley’s Take Post Q1 Results  

  • Maintain ‘Equal-weight’ rating; Hike target price to Rs 285 from Rs 265.

  • The company’s IT Services Q1 performance surpassed Street expectations.

  • The Q2 guidance provided was in line, with no negative surprises indicated.

  • Strong large deal wins are expected to contribute positively to growth acceleration in the second half of the fiscal year.

  • Improved capital allocation strategies are anticipated to support an uplift in the company’s valuation multiples.

  • Despite the equal-weight stance, there is perceived potential for a re-rating of the stock.

Stock Market News Live: Wall Street Recap

US stocks finished at all-time highs Thursday as retail sales rebounded in June, easing concerns about a slowdown in consumer spending and underpinning a strong economy.

The S&P 500 Index rose 0.5% to briefly top the psychologically important 6,300 level, notching a fresh record for the first time in a week. The Nasdaq Composite climbed 0.7%, also closing at an all-time high. The Dow Jones Industrial Average added 0.5%.

Stock Market News Live: What F&O Cues Indicate

  • Nifty July futures down by 0.3% to 25,170 at a premium of 59 points.

  • Nifty July futures open interest up by 0.68%.

  • Nifty Options 24 July Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 24,000.

  • Securities in ban period: Angelone, Hindustan Copper, RBL Bank.

Stock Market News Live: GIFT Nifty Indicates Gap-Up Start

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The GIFT Nifty was trading near 25,200 early Friday. The futures contract based on the benchmark Nifty 50 rose 0.20% at 25,190 as of 7:05 a.m. indicating a start in green for the Indian markets.

India’s benchmark equity indices pulled back on Thursday after two days of gains, weighed by heavyweights Infosys Ltd. and HDFC Bank Ltd.

The BSE Sensex lost 375.24 points or 0.45% to close at 82,259.24, while the NSE Nifty 50 ended 100.6 points or 0.4% lower at 25,111.45. The 50-stock gauge struggled to take out 25,200 due to call writing at that level on the weekly expiry day. Intraday, the index shed 0.44%.

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