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SGX Nifty Up 125 Points, TCS Q1 Results, Nykaa's Expansion of Fashion Segment, and Top Buzzing Stocks Today
Fri, 8 Jul Pre-Open

TCS Q1 Results, Nykaa's Expansion of Fashion Segment, and Top Buzzing Stocks Today

On Thursday, Indian share markets ended on a strong note, as softening crude prices helped ease inflation worries, supporting the bulls to take charge at Dalal Street.

Crude oil prices continue falling and corrected sharply for yet another session slipping under US$ 100 a barrel, as fears of a potential global recession spurred concerns about oil demand.

Benchmark indices ended on a positive note led by the auto and banking stocks.

At the closing bell on Thursday, the BSE Sensex stood higher by 428 points (up 0.8%).

Meanwhile, the NSE Nifty closed higher by 143 points (up 0.9%).

Titan, Tata Steel, and L&T were among the top gainers.

Dr Reddy's Laboratories, Nestle, and Bharti Airtel, on the other hand, were among the top losers.

The BSE MidCap index ended higher by 1.2% while the BSE SmallCap index ended higher by 1.3%.

Barring FMCG, all sectoral indices ended in the green with stocks in the banking sector, metal sector, and auto sector witnessing most of the buying.

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According to Chartist Brijesh Bhatia, the auto index is on the verge of a multiyear breakout.

Shares of M&M and Varun Beverages hit their 52-week highs.

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Also read about the multibagger stock which came down by 7% yesterday post its bonus issue.

Gold prices for the latest contract on MCX were trading up by 0.2% at Rs 50,621 per 10 grams, at the time of Indian market closing hours yesterday.

Note that despite trading in the green yesterday, gold prices have fallen and have taken quite a knock in recent weeks.

At 8:00 AM today, the SGX Nifty was trading up by 125 points, or 0.8% higher at 16,250 levels.

Indian share markets are headed for a gap-up opening today following the trend on SGX Nifty.

Speaking of stock markets, July 2022 marks the 25th anniversary of the Asian currency crisis. After 25 years most of us do not know what was the currency crisis.

We can only be prepared for a crisis if we know what is the crisis. Hence, it is important to know about the crisis and the lessons to be learnt from it.

In the below video, India's #1 trader Vijay Bhambwani explains the crises and lessons to be learnt from it.

Top Buzzing Stocks Today

TCS share price will be among the top buzzing stocks today.

IT major TCS will post its June quarter results tomorrow. According to experts, the demand commentary could be strong even as margin may take a hit on wage hikes.

TCS share price have fallen 12% so far in this calendar year. Concerns over the weakening of the global macro environment have dented investor sentiment.

Although the domestic currency has been depreciating against the US Dollar, begging the question Can a Depreciating Rupee Trigger the Recovery in Indian IT Stocks?

FSN E-Commerce Ventures share price will also be in focus today.

FSN E-Commerce Ventures is the parent company of cosmetics-to-fashion retailer Nykaa.

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Nykaa recently announced the expansion of its fashion segment into the men's innerwear and athleisure category with a new brand, Gloot.

Nykaa had a strong market debut in November 2021, but the shares have taken a freefall since then. Have a look at these Mutual Fund Schemes Investing in Beaten Down Stocks Like Zomato and Paytm.

Market participants will also track Kalyan Jewellers share price.

Kalyan Jewellers said its revenue jumped over 100% in the June quarter. The company further added:

  • We are continuing to see strong operating momentum in our business in India, driven by the resilience of our category. Furthermore, we believe our business has been a significant beneficiary of the shift in demand from the unorganised to the organised segment.

Tata Motors: Sales revival in China?

Chinese automobile and auto ancillary stocks soared yesterday after authorities in the country vowed to support auto consumption in the country going ahead.

The Chinese auto industry faced several challenges in 2022 due to the unprecedented lockdowns in major parts of the country owing to a fresh Covid-19 outbreak and continued shortage of semiconductors.

According to a Bloomberg report, the country had earlier in the day underscored the importance of promoting sales of new-energy vehicles and extending the exemption of purchase tax on electric cars.

Recent buoyancy in the Chinese car market has made investors hopeful of strong growth going ahead.

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The improvement in the Chinese car market will be healthy for Tata Motors' subsidiary Jaguar Land Rover, given that a major chunk of the company's sales come from China.

A revival in the world's largest car market will help offset rising concerns over demand in the US and European Union, two economies that appear to be heading for an economic slowdown owing to high energy prices.

However, the continued shortage of semiconductors has been an impediment for JLR, given that it has hampered production and left the company unable to meet demands.

Note that Tata Motors is among the 6 companies that expanded profit margins despite inflation pressure.

Titan Strong Q1 Update

Tata Group company Titan recorded an increase in sales for the quarter ended June 2022.

The sales in June quarter were up nearly three-fold on a year-on-year basis, helped by a low base of the Covid-19 impacted quarter in the last year.

Its network expansion and campaigns continued to progress well throughout the quarter under review, which was the non-disrupted first quarter in the last three financial years.

Its jewellery division, which contributes around 85% of its revenue, added 19 new stores during the quarter, taking the total count to 463.

The division had a good start to financial year 2023 with robust sales on the auspicious occasion of Akshaya Tritiya in May month after two years of Covid-19 induced lockdowns in this period.

Revenues clocked a growth of 207% and clocked 3-year CAGR of 20.5% over the first quarter of financial year 2020.

Both walk-ins and buyers grew in line with revenues whereas ticket size marginally improved compared to the same quarter last year.

Note that despite the rally in the past week, Titan share prices have fallen over 15% in 2022 so far.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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