Stock Market Today: The GIFT Nifty trends show that the Indian index as a whole is off to a bad start, down 29.5 points. Around 24,386 was the trading level for the Nifty futures. The Wall Street stock indexes closed higher on Friday, with the benchmark S&P 500 and the tech-heavy Nasdaq reaching all-time highs. This was due to fresh data indicating the weakness of the US labour market, which raised hopes of interest rate reduction as early as September. Losses at HDFC Bank Ltd. were offset by gains at Reliance Industries, State Bank of India, and Hindustan Unilever. After HDFC Bank released a Q1 business update that was worse than anticipated, analysts voiced concerns.
Stock Market Today: Stocks in focus
Nykaa
Mumbai serves as the corporate headquarters of the Indian e-commerce startup Nykaa. Through its website, mobile app, and more than 100 physical locations, it offers beauty, wellness, and fashion products. Nykaa anticipates that its first-quarter revenue increase would be between 2 and 23 percent year over year. It is anticipated that GMV (gross merchandise value) growth will be in the mid-20s for this quarter.
Adani Wilmar
With its headquarters located in Ahmedabad, Adani Wilmar Limited (AWL) is a multinational food and beverage company from India. The largest palm oil processor in India is this one. South East Asia, Africa, and the Middle East are the destinations of its exports. With a focus on capturing market share, particularly in under-indexed regions, Adani Wilmar noted that its market-specific strategy in each category helped it achieve a 13% year-over-year growth in volume in the first quarter.
Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited or it’s writer never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER