Today’s Market News :
Asian markets are trading with mixed note, however South Korean and Hong Kong equity indices outperforming versus peers. U.S. stock index futures are trading in a green zone while focus of the marker would be on this week’s important earnings from heavyweights.
Indian markets are expected to trade cautiously optimistic, with Sensex rising 120 points to 78,700 and Nifty stable at 23,550. Reliance Industries, Kotak Mahindra Bank, Tech Mahindra, Mahindra & Mahindra, and HDFC Bank are likely gainers. Hindustan Unilever, Nestle India, NTPC, Indusind Bank, and Power Grid Corporation may decline.
Indian markets traded mixed, with Sensex up 120 points to 78,700 and Nifty flat at 23,550. Top gainers: Reliance Industries, Kotak Mahindra Bank, Tech Mahindra, Mahindra & Mahindra, and HDFC Bank. Losers: Hindustan Unilever, Nestle India, NTPC, Indusind Bank, and Power Grid Corporation.
* Hero MotoCorp reported a 14% increase in standalone net profit to Rs 1204 crore in Q2, driven by strong revenue growth and improved margins.
* The company achieved its highest-ever quarterly revenue from parts and accessories, contributing to an 11% YoY revenue growth to Rs 10463 crore.
* Hero MotoCorp’s strong financial performance positions it to aggressively invest in brand building and expand its premium segment portfolio with new model launches planned in the coming months.
* Gold prices experienced a slight recovery on Monday, gaining 0.4% to $2,571.11 per ounce after last week’s significant declines, although gains were limited by cautious expectations regarding U.S. interest rate cuts.
* The U.S. Federal Reserve’s robust economic data, including better-than-expected retail sales, has led to speculation that further rate reductions may be postponed, impacting gold’s appeal as a non-yielding asset.
* Physical gold premiums in India have surged to a near four-month high, indicating a rebound in demand as prices fell, despite the overall cautious market sentiment.
