Top stocks to watch out for today: Amid weak global markets, Indian equity benchmark indices touched fresh all-time closing highs on Thursday, on the back of unabated foreign fund inflows and buying in index major Reliance Industries.
The BSE Sensex gained 339.60 points or 0.52 per cent to settle at its new all-time closing high of 65,785.64. The NSE Nifty climbed 98.80 points or 0.51 per cent to close at a new record high of 19,497.30
Top stocks to watch out for today: Amid weak global markets, Indian equity benchmark indices touched fresh all-time closing highs on Thursday, on the back of unabated foreign fund inflows and buying in index major Reliance Industries.
The BSE Sensex gained 339.60 points or 0.52 per cent to settle at its new all-time closing high of 65,785.64. The NSE Nifty climbed 98.80 points or 0.51 per cent to close at a new record high of 19,497.30. Indian rupee settled 29 paise down at Rs 82.51 after opening at Rs 82.37 against the US dollar.
“Foreign investors continue to provide unwavering support to the domestic market, helping to sustain the ongoing rally despite weak global cues. India’s underperformance during the year is expected to reverse moving ahead. The mid- and small-cap segments have outperformed the benchmark index, with realty, oil & gas, power and consumption stocks leading the sectorial rally as provisional & economic data suggest a good Q1FY24 results. However, global markets are displaying a negative trend, influenced by hawkish FOMC minutes and US-China tensions,” said Vinod Nair, Head of Research at Geojit Financial Services.
Top Stocks To Watch For 7 July:
Infosys
The technology giant setup a new subsidiary in Canada under its US firm Infosys Public Services. The announcement is the latest development in a slew of investments made by Infosys which has increased the workforce by 7,000 with a commitment to raise it to 8,000 employees by 2024.
Titan
The Tata company reported a 20 per cent year-on-year growth in revenue for the quarter ended 30 June. The key consumer business witnesses double digit growth. The flagship jewellery segment recorded 21 per cent year-on-year growth.
Dabur India
Dabur India estimated that consolidated first-quarter sales rose more than 10 per cent, including recently acquired Badshah Masala, the company said in a quarterly business update. Improved demand in both rural and urban areas contributed to the growth the company said.
Tata Steel
Tata Steel recorded domestic crude steel production of 5.01 million tonnes, growth of 2 per cent year on year for the April-June quarter fiscal 2023. The production declined sequentially as a result of planned maintenance shutdowns.