Stock Market Today: Dalal Street was expected to open flat on Thursday, according to the GIFT Nifty on the NSE IX, which fell 4.5 points, or 0.02 percent, to 19,607.50. The Nifty today closed 62 points higher to form a bullish candle of the Hammer variety with a long lower shadow on the daily charts, indicating buying support at lower levels. According to Chandan Taparia of Motilal Oswal, it must now maintain above 19560 zones in order to advance upward towards 19700 and 19800 zones, while supports are set at 19500 and 19420 zones.
Rupees and Tokyo stocks
Due to the US dollar’s weakness against its main international rivals, the rupee gained 6 pesos on Wednesday to end at 82.85. As Wall Street continued to decline on the heels of disappointing Chinese data and ahead of a crucial US inflation report, Tokyo equities opened lower on Thursday.The broader Topix index decreased 0.16 percent, or 3.63 points, to 2,278.94 while the benchmark Nikkei 225 index was down 0.33 percent, or 106.39 points.
V-Mart Q1 results
In contrast to a net profit of Rs 20.45 crore in the same quarter of the prior financial year, V-Mart Retail Ltd. announced a consolidated net loss of Rs 21.94 crore on August 9. However, the retail chain’s revenue in Q1FY24 totaled Rs 678.52 crore, up 15.4% from Rs 587.88 crore in the same quarter last year, the business reported in a regulatory filing. When compared sequentially to the Rs 593.91 crore recorded in the fourth quarter of the previous fiscal, the revenue increased by 14.2 percent. Retail commerce generated Rs 661.15 crore in revenue during the first quarter of FY24, while digital marketplace brought in Rs 17.36 crore.
Zee Entertainment Q1 results
Due to a poor advertising climate, media company Zed Entertainment reported a 97 percent year-over-year decline in profit after tax (PAT) at Rs 3.9 crore for the June quarter of the financial year 2024. In Q1 FY23, the company declared PAT of 130,1 crore. Analysts had anticipated a profit decline of 80–90%. Domestic advertising income for the company was Rs 901.8 crore, a 2.6 percent year-over-year (YoY) decrease. Ad income for the business was predicted to decrease by 7 percent YoY.
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