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Aditya Birla Group proposes $1.26 billion expansion of Odisha alumina refinery
Aditya Birla Group plans a significant expansion for its Odisha alumina refinery. The company will invest an additional $1.26 billion to triple its current capacity. This substantial investment will bring the total proposed expenditure to about $2.1 billion. The expansion project will be managed by the group entity Hindalco Industries. This development aims to significantly boost alumina production in the region.
Market wrap: Top gainers and losers on Nifty and Sensex today
Sensex climbed 828 points and Nifty gained 244 points, extending their winning streak as TCS earnings, positive global cues and banking optimism lifted sentiment. The rally added nearly Rs 6 lakh crore to BSE market capitalisation, with IT, financials and metals leading gains.
INR settles higher on positive cues from local equities; Weak greenback supports
The Indian rupee rose 14 paise to settle at 95.33 (provisional) against the US dollar on Friday as the greenback weakened but crude oil prices steadied amid intensifying tensions in West Asia. FII outflows and uncertainties over fresh tensions in West Asia weighed on the local unit while positive sentiment in the domestic equity markets provided support. Local shares ended Friday's session on a buoyant note, with firm cues from global markets and TCS' better-than-expected Q1 earnings helping underpin investor sentiment. Fears about a return to full-blow war however subsided after President Donald Trump claimed that Iran wants to "make a deal so badly," but he doesn't know if they're worthy of making a deal. The BSE Sensex climbed 827.57 points (1.08%) to close at 77,569.39, while the NSE Nifty 50 rose 244.10 points (1.02%) to settle at 24,206.90.
Rajesh Palviya of Axis Sec suggests Paytm, Anand Rathi, Nykaa shares to buy today
Indian benchmark indices opened higher, boosted by gains in IT stocks after TCS reported strong quarterly revenue. Nifty 50 rose 0.68% and BSE Sensex climbed 0.85%. Market breadth was positive, with all major sectoral indices in the green amid easing geopolitical tensions.
INR settles higher, supported by good recovery in local equities
The Indian rupee appreciated by 7 paise to settle at 95.41 (provisional) against the US dollar on Thursday even as crude oil prices firmed up and the greenback strengthened in the global markets. A recovery in the stock markets and dollar selling by state-run lenders supported the local currency amid rising volatility triggered by the fresh escalation in the West Asia crisis. At the interbank foreign exchange market, the rupee opened lower by 4 paise at 95.52 against the US dollar and later traded in the range of 95.58 to 95.28 during the day. It settled at 95.41 (provisional), up 7 paise from the previous close. The rupee had declined by 52 paise to settle at 95.48 against the US dollar on Wednesday. Indian shares ended modestly higher on Thursday, after having fallen heavily in the previous session amid escalating hostilities in the Middle East. At the close of the market, the NSE Nifty 50 advanced 80.75 points (0.34%) to settle at 23,962.80, while the BSE Sensex gained 238.22 ...
Sun Pharma among 4 stocks to hit 52-week highs & rally up to 25% in a month
The Sensex ended higher as select BSE 200 stocks touched fresh 52-week highs. FSN E-Commerce Ventures, Titan, Sun Pharmaceutical Industries and Lenskart Solutions led the momentum.
INR tumbles sharply against US dollar as oil prices soar on renewed US-Iran tensions; Sensex, NIFTY plunge over 2%
The Indian rupee tanked 59 paise to settle at 95.55 (provisional) against the US dollar on Wednesday as the US launched fresh strikes on Iran after Tehran struck three ships in the Strait of Hormuz, pushing up crude oil prices and strengthening the dollar. The US military attacked Iran early Wednesday after it said Tehran struck three ships in the Strait of Hormuz, part of an American effort that also revoked the Islamic Republic's ability to openly sell crude oil in the world market. Iran retaliated with strikes targeting Bahrain and Kuwait. Following the strikes, global crude oil prices rose exponentially. Brent crude, the global oil benchmark, was trading higher by 6.16 per cent at USD 78.73 per barrel in futures trade. The Indian stock market also suffered a massive crash, with the NSE Nifty 50 plunging 516.65 points (2.12%) to close at 23,882.05, while the BSE Sensex tanked 1,677.12 points (2.15%) to settle at 76,503.60.
Indian Rupee loses momentum as international oil prices and dollar firms up
The Indian rupee lost momentum in opening trades on Wednesday as international oil prices and dollar firmed up following renewed tensions between US and Iran. Reported US air strikes on Iran drove oil prices higher, fueling inflation concerns and reinforcing expectations of interest rate hikes that kept dollar index upbeat. Meanwhile, investors also wait for the minutes of the Federal Reserves June meeting for additional insight into the policy outlook. INR opened at Rs 95.15 per dollar and hit a low of 95.19 so far during the day. Local equities are also seen in negative tracking global peers on concerns that the AI-fueled rally in chipmakers may be losing momentum. The Nifty 50 has fallen below 24,250 while the BSE Sensex has tumbled over 550 points, trading around the 77,60077,800 range. Yesterday, rupee appreciated 48 paise to close at 94.95 against the US dollar, on improved global risk sentiments as higher traffic flows through the Strait of Hormuz reduced supply uncertainties.
INR seen supported by improving global risk sentiments
The Indian rupee appreciated 48 paise to close at 94.95 (provisional) against the US dollar on Tuesday, on improved global risk sentiments as higher traffic flows through the Strait of Hormuz reduced supply uncertainties. Market sentiment was also buoyed after Saudi Arabia slashed August crude oil prices for Asia by USD 11 per barrel. Moreover, softness in Brent oil prices is alaos expected to ease inflationary pressures for India, the world's third-largest oil importer. However, Indian shares ended slightly lower on Tuesday, with benchmark indexes Sensex and Nifty snapping a four-day winning streak. The Indian benchmark equity indices snapped their four-day winning streak, ending marginally lower due to late-session profit booking and weak Asian cues. The NSE Nifty 50 declined by 31.65 points (0.13%) to close at 24,398.70, while the BSE Sensex dropped 104.35 points (0.13%) to settle at 78,180.72.
Top Gainers & Losers on 7 July: Trent, Kalyan Jewellers, Cochin Shipyard, Tejas Networks, BSE among top losers
The Indian stock market's bull run ended on July 7 as benchmark indices fell due to profit booking, particularly in auto and metal sectors, despite gains in IT stocks. The Nifty 50 settled 0.25% lower, while Sensex dropped 387 points, breaking their winning streak.
INR slips in opening trades as dollar recovers marginally; downside seen limited
The Indian rupee fell 10 paise to 95.28 against the American currency in early trade on Monday, weighed down by slight uptick of the American currency in the overseas market. However, positive cues from local equities and easing international oil prices are likely to limit downside in the counter. Indian shares are seen opening in green, with underlying sentiment likely to remain underpinned by improving earnings visibility and expectations of a more supportive global liquidity environment going forward. The BSE Sensex gained 176.99 points (0.23%) to open at 77,940.90, while the NSE Nifty 50 rose 36.00 points (0.15%) to open at 24,306.85.
Poly Medicure among 4 stocks that closed below VWAP
Four Nifty500 stocks, Poly Medicure, Aditya Birla Real Estate, Siemens Energy India, and Onesource Specialty Pharma, closed over 2% below their VWAP on July 3, indicating potential bearish momentum and heightened selling pressure, according to technical scan data.