Stock Market Today: With a quotation of about 24,443, the GIFT Nifty futures suggested that the Nifty 50 index would likely see a gap-down of about 80 points. In light of weak signals from international rivals and indications of profit-taking in our own market following the recent bull run, equity markets are likely to begin trading for the crucial Budget week on a cautious note. In anticipation of the union budget next week, widespread profit booking caused the main equity indices in India to close in the deep red on Friday. All industries were seen to be selling. The S&P BSE Sensex ended the day lower at 80,604, while the NSE Nifty 50 dropped to 24,531.
Stock Market Today: Stocks in focus
HDFC Bank
HDFC Bank Limited, commonly referred to as HDFC, is an Indian financial services and banking enterprise. As of May 2024, it is the tenth-biggest bank in the world by market value and the largest private sector bank in India in terms of assets. HDFC Bank today reported a standalone net profit of Rs 16,175 crore for the quarter ended June 30, 2024, which was up by 35% year-on-year.
Reliance
The international conglomerate Reliance Industries Limited is based in India. Retail, entertainment, telecommunications, mass media, petrochemicals, natural gas, energy, and textiles are among its industries. Reliance is the 100th largest corporation globally and the largest public firm in India in terms of sales and market capitalization. The consolidated net profit of Reliance Industries Ltd. (RIL), owned by Mukesh Ambani, decreased by 5% to Rs 15,138 crore on Friday.
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