Stock Market Today: GIFT Nifty on the NSE IX increased by 47.5 points to 18,960, indicating that Dalal Street was going to have a successful start to the week. The monthly F&O expiry day saw Nifty close to its 200-DMA at 18830, down 265 points, and a long bear candle formed on the daily chart. The index has now formed three black crows on the charts, indicating more short-term problems, with three consecutive lengthy bear candles. Today is the day that many firms, including RIL, Maruti Suzuki, Bajaj Finserv, SBI Life, Cipla, Dr. Reddy’s, and many more, will release their second quarter earnings.
Rupee falls; Tokyo stocks opened higher
Due to heavy selling in the equities markets and the strengthening of the US dollar abroad, the rupee fell 8 paise to close at 83.25 against the US dollar on Thursday, continuing its negative trend for the third straight session. As investors turned their attention to Japanese business results reports, Tokyo equities managed to overcome losses on Wall Street and open higher on Friday.Early trading saw gains of 140.38 points, for the benchmark Nikkei 225 index at 30,742.16, and 8.90 points, for the larger Topix index at 2,233.15.
Stock Market Today: Reliance Q2 profit may jump in oil, Jio telecom
Even with a slight increase in revenue, Reliance Industries is anticipated to record a strong increase in net profit for the second quarter of its fiscal year, mostly due to gains in the refining margin. The largest firm in India based on market capitalization is probably going to perform well across the board, with the exception of the petrochemicals industry, which may see some decline. Following an underwhelming O2C result in Q1 FY24, analysts predict stable growth across the board in Q2 FY24. increased foot traffic will result in increased retail EBITDA. New customers will boost Jio’s EBITDA, and higher gas output will boost the EBITDA of Oil and Gas.
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