News and Global Index updates.

🌹 🌞Good Morning 🌞🌹

*SGX Nifty +63 pts (17270) from last trade 17207 ,*  

Nikkei +49 pts , 

Hangseng -130 pts , 

Now @6.55am . 

Dow +315.50 pts ,

Nsdq +228.10 pts, 

S&P +57.86 pts, 

Bovespa +568 pts , 

Ftse +78 pts , Dax +201 pts , 

Cac +109 pts , 

Crude @ $97.84 brl (-0.78), 

Brent @ $108.00 brl (+0.86) , 

Gold @ 1768.60 (-2.90), 

Silver @ $20.195 (-0.002), 

Euro @ $1.0208, 

JPY @ $133.52,  

INR @ 79.335

*Today's Corporate Action*

*1st Aug Ex Date*

ALBERTDA

Dividend - Rs. - 9.0000

HIRECT

Dividend - Rs. - 0.4000

KIRLOSIND

Final Dividend - Rs. - 10.0000P

AUSHAKLTD

Final Dividend - Rs. - 12.0000

RATNAMANI

Dividend - Rs. - 14.0000

UNICHEMLAB

Final Dividend - Rs. - 4.00000

*Today's Key Results/Board Meetings*

*1-Aug-22*

ITC, UPL, Zomato, Arvind, Bajaj Consumer Care, Barbeque-Nation Hospitality, Carborundum Universal, Castrol India, Escorts Kubota, Eveready Industries India, Indo Count Industries, Kansai Nerolac Paints, Max Financial Services, Prudent Corporate Advisory Services, Punjab & Sind Bank, The Ramco Cements, RateGain Travel Technologies, Thyrocare Technologies, Triveni Turbine, and Varun Beverages will be in focus ahead of June quarter earnings on August 1.

*Stock under F&O ban on NSE*

*1-Aug-22*

None

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🤔

*Foreign Investors (FPI)* Inflows this year

• Jan -35975 Cr

• Feb -37389 Cr

• March -36989 Cr

• April -15569 Cr

• May -42474 Cr

• June -49469 Cr

• July +6295 Cr

 **FPI* flows turn *POSITIVE* for *1st time in the 9 Months**

Stock futures fall slightly to start August trading with market coming off best month since 2020

Stock futures fell slightly following the market’s best month since 2020 as investors look ahead to another week of key earnings reports and economic data.

The Dow Jones Industrial Average futures fell by 67 points, or 0.2%. S&P 500 futures shed around 0.2% and Nasdaq 100 futures dipped by 0.3%.

On Friday, all major indexes gained, posting winning weeks and capping off the best month of the year so far and then some. The Dow gained 6.7% in July, while the S&P 500 added 9.1%. The Nasdaq Composite rose 12.4% as investors rushed into the tech stocks beaten up the most during this bear market. For each index, July’s performances were the best since 2020. 

“We are seeing a relief rally in the stock market, as pessimism reached extreme levels, and as longer-term interest rates have been coming back down,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

“We believe the rally will last until later in the summer, but as stock prices rebound and it becomes increasingly clear that we are headed for a more typical recession (e.g. one with higher unemployment and nominal GDP dropping close to zero or negative), markets will again have another selloff,” he added. “But until that time, enjoy the rally as it’s likely catching a lot of people off guard.”

This week, investors have more economic data and company earnings to digest. On Monday, companies such as Activision Blizzard, Devon Energy, Loews and more report earnings. Later in the week Uber, Caterpillar, Starbucks, Eli Lilly, Amgen and others also have scheduled reports.

In addition, the Friday nonfarm payrolls report from the Bureau of Labor Statistics will give more insight into the strong labor market. So far this year, the solid growth of jobs has prompted economists to say the U.S. is currently not in a recession, even with two consecutive quarters of negative GDP. 

Stats for the end of July

All three major indexes ended the day higher on Friday, capping off a solid month of trading in July. Here are other key stats about how stocks traded last month.

The Nasdaq composite closed more than 22% from 52-week highs, while the S&P 500 and the Dow closed more than 14% and 11% from their 52-week highs, respectively.

The Dow gained 6.73% in July, its best month since Nov. 2020. It was also the S&P 500′s best week since Nov. 2020. It gained 9.11% in July.

The Nasdaq composite gained 12.35% in July and broke a three-month losing streak. It was the best month for the index since April 2020.

Only health care, consumer staples and utilities sectors closed within 10% of 52-week highs. Still, all 11 sectors were positive in the month of July.

U.S. Treasury yields were lower on Friday, narrowing spreads. 

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*Stocks in News*

Bank of Baroda: The public sector lender reported 79.4 percent year-on-year growth in standalone profit at Rs 2,168 crore for the quarter ended June 2022, despite fall in other income and pre-provision operating profit. The significant decline in bad loans provisions aided the bottom line. Net interest income grew by 12 percent YoY to Rs 8,838.4 crore in Q1FY23, with credit growth at 18 percent and 10.9 percent YoY increase in global deposits.

IDFC First Bank: The bank recorded highest-ever standalone profit of Rs 474.33 crore in Q1FY23, against a loss of Rs 630 crore in corresponding period of the previous fiscal. The increase in core operating income and fall in provisions aided the profitability, with the sequential growth in profit at 38 percent. Net interest income grew by 26 percent to Rs 2,751.1 crore YoY during the quarter, with 39 bps YoY improvement in net interest margin at 5.89 percent for the quarter. But there was 38 bps decline in net interest margin on a sequential basis.

Dr Reddy's Laboratories: The pharma major entered into a licensing agreement with Slayback Pharma to obtain exclusive rights in the first-to-file ANDA for the private label version of Lumify in the US. Lumify is an over-the-counter (OTC) eyedrop that can be used to relieve redness of the eye due to minor eye irritations. The agreement also provides Dr Reddy's exclusive rights to the product outside the US.

Rain Industries: The company recorded a 184 percent year-on-year increase in consolidated profit at Rs 668.50 crore for the quarter ended June 2022, driven by healthy top line and operating performance. Revenue grew by 52 percent to Rs 5,540.6 crore due to solid growth in average blended realisation for carbon and advanced material sales, though volumes declined. Operating profit grew by 78.5 percent to Rs 1,210.5 crore during the same period.

Zee Entertainment Enterprises: The company has received no objection letters from BSE and National Stock Exchange of India, for the proposed Composite Scheme of Arrangement amongst Zee Entertainment, Bangla Entertainment, and Culver Max Entertainment (formerly Sony Pictures Networks India). These observation letters permit the company to file the Composite Scheme of Arrangement with National Company Law Tribunal, Mumbai.

Yes Bank: The bank is going to raise Rs 8,898.47 crore from The Carlyle Group and Verventa Holdings (affiliate of Advent) by selling up to 10 percent stake each. The board of directors has approved to allot 369.61 crore equity shares at a price of Rs 13.78 per share and 256.75 crore warrants exchangeable into equity shares, at a price of Rs 14.82 per share, through preferential allotment on a private placement basis, which is subject to approval of shareholders and RBI. The Carlyle Group and Verventa Holdings (affiliated of Advent) will pour in money into the bank against 184.8 equity shares each and 128.37 crore warrants each.

Cipla: The pharma company recorded a 4 percent year-on-year decline in consolidated profit at Rs 686 crore for the quarter ended June 2022 as EBITDA fell by 15 percent YoY to Rs 1,143 crore and revenue fell by 2.3 percent to Rs 5,375 crore in the same period. India business declined 8.4 percent to Rs 2,483 crore and North America business grew by 15.5 percent to Rs 1,199 crore in Q1FY23.

JSW Energy: Subsidiary JSW Energy (Barmer) owned 1,080 MW power plant at Barmer retained access to uninterrupted supply of lignite for its operations. The Rajasthan Government informed Barmer Lignite Mining Company Limited (BLMCL) that it is in receipt of ex-post facto- previous approval from the Central Government for transfer of two lignite mining leases (Kapurdi and Jalipa in Rajasthan) from Rajasthan State Mines and Minerals Limited (RSMML) to BLMCL with effect from the date of transfer of the said mining leases. Accordingly, the previous letters issued by the Rajasthan Government directing BLMCL to stop mining operations at the two lignite mines stand withdrawn.

DLF: The real estate developer reported a 36 percent year-on-year increase in profit at Rs 470 crore for the quarter ended June 2022. Consolidated revenue at Rs 1,516 crore grew by 22 percent YoY in the same period with net sales bookings rising 101 percent YoY to Rs 2,040 crore.