Stock Market Today: The Nifty was up 86.50 points or 0.44% at 19,835.80, while the Sensex was up 305.47 points or 0.46% at 67,100.61. Approximately 2022 shares rose, 795 shares fell, and 111 shares remained constant. Gifty Nifty index sluggishness may cause markets to open Wednesday trades quietly, but overnight advances in US markets and mixed confidence in Asian gauges may cause the trend to change as trading goes on. Nifty will keep moving higher as momentum buying pushes the benchmark to previously unattainable levels with aggressive monthly targets near the 20000 mark. The index, however, is anticipated to encounter difficulties near the 19827 mark, with support located at 19617 and intraday support at 19703 mark.
Tokyo stocks and rupees
The Wall Street advances due to strong banking profits helped Tokyo markets open higher on Wednesday.Early trading saw gains of 0.99 percent, or 322.87 points, for the benchmark Nikkei 225 index and 0.99 percent, or 22.41 points, for the larger Topix index, both of which are measures of the performance of the Japanese stock market.
As the support from strong domestic stocks and a weak dollar was offset by rising crude oil prices, the rupee steadied in a constrained range and ended the day one paisa lower at 82.04 against the US dollar on Tuesday.
Stock Market Today: Stocks in focus
State Bank of India
The largest public sector lender in the nation has been given the go-ahead by the appropriate government to establish a new trustee firm as a totally owned subsidiary for the management of the Corporate Debt Market Development Fund. The investment manager and sponsor of the aforementioned fund is listed as SBI Funds Management.
IndusInd Bank
The private sector lender’s standalone profit increased 32.5 percent year over year to Rs 2,123.6 crore for the quarter ended June FY24, despite a 20.7 percent YoY decline in provisions and contingencies to Rs 991.6 crore. For the quarter, net interest income increased by 18% YoY to Rs 4,867.1 crore, while the net interest margin increased to 4.29% from 4.21% in the prior quarter. Gross non-performing assets decreased 4 basis points sequentially to 1.94 percent, and net NPA decreased 1 basis point to 0.58 percent for the quarter, indicating a little improvement in asset quality.
Disclaimer: (This piece of information is purely informational. It is important to note that offers, discounts, and/ or any other scheme/ information/ statistics must be personally verified by the readers from the respective sources. Readers are advised to invest or purchase solely at their own risk. DNP News Network Private Limited, website or the writer doesn’t validate the offers in any context. We will not be liable for any financial or other losses.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER