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Of Indian Indices Touching New Highs; US GDP Data; Key Earnings Report and Top Stocks in Action Today

Mon, 30 Jul Pre-Open

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Indian share markets ended at record closing high for the second straight session on Friday on strong quarterly results. The gains were led by index heavyweights like ITC, Reliance Industries, and Hindalco.

The S&P BSE Sensex settled at a record high of 37,337, up 352 points, while the broader Nifty 50 index settled at a new high of 11,278, up 111 points.

Nifty Bank index also hit an all-time high on Friday, ending 0.8% higher. IDFC Bank, Federal Bank, and Axis Bank were the top gainers in the pack, up between 2% to 2.6%.

Top Stocks in Focus

JSW Energy Lab share price will be in focus as the company on Friday reported a consolidated profit of Rs 2.3 billion in the first quarter ended 30 June, compared to a profit of Rs 2.2 billion last year.

Ajanta Pharma share price will hog limelight as the USFDA inspected its formulation facility at Dahej from 23-27 July.

Petronet LNG Ltd, India's biggest liquefied natural gas importer, has submitted a firm proposal to set up an LNG import facility in Bangladesh at an investment of about US$ 1 billion. The stock will be in focus.

Lupin has launched Desoximetasone Topical Spray, 0.25%, having received an approval from the United States Food and Drug Administration (USFDA) earlier.

Tata Coffee reported a fall of 46.4% in net profit at Rs 130.6 million for the quarter ended 30 June 2018 as compared to net profit of Rs 243.5 million for the same quarter in the previous year. The stock will be in focus.

To get more updates on share market, click here.

Global Stock Market Drivers

On Friday, stocks in Europe advanced on the heels of a mixed session in Asia as corporate earnings again took a front seat. In Asia, Japanese equities climbed for a fourth day, while stock indices in China and Hong Kong ticked lower.

All eyes are on earnings as Amazon.com Inc.'s strong results Thursday countered Facebook Inc.'s disappointing quarter, which led to a historic plunge for the social media goliath. Aside from corporate balance sheets, traders are cheering the apparent cease-fire over tariffs between Europe and the US, while central banks also moved back into the spotlight.

Here are some key events to look forward to:

• Earnings season continues with Twitter results in focus.
• US gross domestic product (GDP) data.

Oil Markets Ease

On Friday, oil prices edged lower in quiet trading after three days of gains, but took support from Saudi Arabia halting crude transport through a key shipping lane, falling US inventories and easing trade tensions between Washington and Europe.

Brent futures were down 5 cents at US$74.5 a barrel, after gaining 0.8% on Thursday. They were headed for a near 2% gain last week, the first weekly increase in four.

Results Corner

Avenue Supermarkets, Godrej Consumer, Escorts, Axis Bank, HDFC, Idea Cellular are among few companies that will report its Q1FY19 results today.

IPO Buzz

The initial public offer of HDFC Asset Management Company was subscribed 83 times on the last day of bidding on Friday.

The Rs 28 billion IPO, received bids for 80,26,20,988 shares against the total issue size of 1,88,04,290 shares. The public offer is of 25,457,555 shares, including anchor portion of 6,653,265 shares.

HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments.

Notably, it is the second asset management company to hit the market after Reliance Nippon Life AMC, which had raised Rs 15.4 billion last year.

Speaking of IPOs, the demand for IPO's had reached sky-high levels last year.

Note that, more than 70% of the IPOs listed in 2007 and 2008 are in the red.

A merit-based selection primarily including valuation, business, and management quality is the logical way to go about investing in IPOs. If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often than not.

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Read the latest Market Commentary

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers