Stock Market Today: Due to bullish market movements worldwide, Indian equity benchmarks Nifty 50 and Sensex are set to open Monday’s session on a low note. The BSE Sensex was down 96 points, or 0.14%, to 66,064 while the Nifty50 was down 29 points, or 0.15%, to 19,617. Nifty created a Doji candle on the daily chart by finishing Friday’s trading session with a slight loss of 14 points, signifying a choppy atmosphere on Dalal Street. Among others, Maruti Suzuki, Power Grid, GAIL, and Adani Green will today release their first quarter results.
Tokyo Market open higher
As Wall Street gained ground following news that the Federal Reserve’s favoured inflation index declined in June, Tokyo equities began higher on Monday.While the more inclusive Topix index increased by 1.12 percent, or 25.75 points, to 2,316.36, the benchmark Nikkei 225 index increased by 1.13 percent, or 369.60 points.
Oil on track for biggest monthly gains
On Monday, oil prices were trading around three-month highs and were expected to record their largest monthly gains in almost a year as a result of Saudi Arabia’s extension of its voluntary output cutbacks into September, which would constrain the world’s supply.By 00:05 GMT, Brent crude futures had fallen 9 cents to $84.90 per barrel, while U.S. West Texas Intermediate crude had fallen 17 cents to $80.41 per barrel.
Stock Market Today: Stocks in focus
NTPC
NTPC reported a 23% increase in consolidated net profit for the April through June quarter of fiscal 2023–23, coming in at Rs. 4,907 crore as opposed to Rs. 3,977.7 crore in the same quarter last year. The state-owned power generator’s operating revenue for the first three months of the current fiscal year was Rs 43,075.09 crore, only slightly less than the Rs 43,177.14 crore earned during the same period last year. In comparison to the same quarter last year, the company’s overall revenue for the June quarter was Rs 43,390 crore, down from Rs 43,561 crore.
Bank of India
Today, the publicly traded Bank of India released its Q1FY23 earnings. For the June quarter, net profit more than doubled. The business reported considerable increase in a number of important financial measures for Q1FY23. To reach Rs. 1,551 Crores, Net Profit increased by an amazing 176% year over year (YoY). Additionally, a significant increase in operating profit was seen, rising by 72% YoY to Rs. 3,752 Crores. The Net Interest Income increased significantly YoY by 45% to Rs. 5,915 Crores. Additionally, the global Net Interest Margin (NIM) improved, rising by 49 basis points (bps) YoY.
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