Live updates on the stock market for Friday, August 9, 2024:On Friday, the major indices, Sensex and Nifty, are measuring at a green open, mirroring the gains of their worldwide counterparts. At 24,356 levels, the GIFT Nifty futures quoted 189 points higher than the Nifty50 futures, indicating a gap-up start as well.
On Friday, the Asia-Pacific markets gained ground on Wall Street’s encouraging news. New US employment market statistics that uplifted investor mood and allayed fears about a recession—which had surfaced following a large market sell-off earlier in the week—was the primary driver of the increase.
The Nikkei 225 in Japan gained 1.46 percent, and the Topix index as a whole increased by 1.53 percent.
The Kospi increased by 1.49 percent in South Korea, while the Kosdaq—which tracks smaller companies—rose by 2.93 percent. In the meantime, the S&P/ASX 200 index in Australia rose by 0.72%.
Overnight, the S&P 500 saw a 2.3% increase in US markets. The Nasdaq Composite had a gain of 2.87 percent, while the Dow Jones Industrial Average saw an advance of 1.76 percent.
Investors in Asia will also be watching for the release of China’s July producer price index (PPI) and consumer price index (CPI), which are expected today.
OLA ELectric, a domestic manufacturer of electric vehicles (EVs), is scheduled to make its market debut on the bourses today.
stocks to keep an eye on today
LIC: For the quarter ended June 20,24, the business recorded a 10% increase in net profit, reaching Rs 10,461 crore. Compared to the same time last year, this represents an increase of Rs 9,544 crore. In the most recent June quarter, total income increased to Rs 2,10,910 crore from Rs 1,88,749 crore in the corresponding period last year.
Eicher Motors: The business’s net profit increased by 20% year over year to Rs 1,101.5 crore for the first quarter that ended on June 30, 2024, from Rs 918 crore in the same period the year before. Compared to the same period in the previous fiscal year, when revenue was Rs 3,086.4 crore, it climbed by 10.2 percent to Rs 4,393.1 crore.
ABB India: For the second quarter that ended on June 30, 2024, the major player in automation and electrification recorded a 50.3% year-over-year growth in net profit, amounting to Rs 443.5 crore. In comparison, the same quarter last year brought in Rs 295.6 crore.
Cochin Shipyard: The government-owned business recorded a 76.5% year-over-year increase in net profit, which came to Rs 174.2 crore for the first quarter that ended on June 30, 2024, from Rs 98.7 crore in the same period the year before.