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India's MRPL books Iraq crude cargo after Strait of Hormuz reopening
Mangalore Refinery has chartered a vessel to load crude oil from Iraq. This marks the first such move by an Indian state-owned refiner since Hormuz reopened. The Aframax tanker Jasmin Joy will load oil from Basrah on July 19-20. Indian refiners faced difficulties securing ships from west of the Strait of Hormuz. This strategic waterway is crucial for global oil and gas supplies.
INR appreciates on improved market sentiment
The Indian rupee appreciated 15 paise to 95.28 against the US dollar in early trade on Tuesday on improved market sentiment after reports that Saudi Arabia has slashed August crude oil prices for Asia amid easing of geopolitical tensions in the Middle East. Lower Middle East risk premium and higher traffic from the Strait of Hormuz kept the oil prices lower. At the interbank foreign exchange market the rupee opened at 95.33 and later touched 95.28 against the American currency, registering a gain of 15 paise from its previous close. Yesterday, rupee depreciated 20 paise to close at 95.43 against the US dollar, as a strengthening greenback weighed on emerging market currencies. Meanwhile, local markets are extending gains amid strong quarterly updates from banking heavyweights like HDFC Bank, favorable monsoon progress, and steady foreign institutional buying. The BSE Sensex was trading at 78,374.76, up by 89.69 points (0.11%), while the NSE Nifty 50 was up 38.90 points (0.16%) at ..
Sensex rises over 150 points, Nifty above 24,450 as market extends gains for the 5th consecutive day
Indian stock markets traded higher on Tuesday, extending gains for a fifth consecutive session. Oil prices remained near pre-war levels, and foreign investors continued their buying trend. Sensex and Nifty both saw upward movement, with broader markets also participating in the rally. Certain sectors like IT advanced, while others experienced declines. Experts anticipate an uptrend supported by economic fundamentals and favorable interest rates.
Dixon Tech, Coforge, 8 other stocks among Motilal’s non-Nifty ideas ahead of Q1 results
Motilal Oswal has identified ten non-Nifty stocks for investors ahead of quarterly earnings. The brokerage anticipates healthy revenue growth across various market capitalizations. TVS Motor and Dixon Technologies are among the top picks with significant upside potential. Radico Khaitan and Indian Hotels Company also show promising revenue growth prospects. Coforge and Kirloskar Oil Engines are also highlighted for their future performance.
Pre-market action: Here's the trade setup for today's session
Indian equity markets concluded Monday's trading session on a higher note. The Nifty index experienced a gain of 0.7 percent during the day. Market participants are now anticipating the upcoming Q1FY27 earnings season. Analysts expect gradual market gains supported by stable oil and rupee. Foreign and domestic institutional investors showed net buying activity.
Hot Stocks: 3 stocks that may give returns between 16-24%
Brokerages initiated coverage on three Indian companies with positive ratings. Kirloskar Oil Engines has a price target implying a twenty-four percent upside. APL Apollo Tubes is seen as a strong play in building materials. Union Bank of India offers a sixteen percent potential return. These recommendations suggest significant future growth prospects for the firms.
ET Graphics: Crude oil retreats, but India's fuel bills stay up
China has reduced fuel prices, mirroring pre-war levels as crude oil costs decline. Indian private retailer Nayara Energy also cut its fuel rates recently. State-run firms have not yet followed suit after substantial first-quarter losses. These companies incurred nearly seventy-five thousand crore rupees in losses. This situation arose due to delayed fuel price adjustments by the government.
Sensex, Nifty end at highest levels in 10 weeks on HDFC Bank, oil boost
Indian equity benchmarks rose to their highest closing levels in about 10 weeks, supported by HDFC Bank, easing crude oil prices and continued foreign portfolio investor inflows
Indian Oil, HPCL buy 7 million barrels of crude via tenders, trade sources say
Indian refiners Indian Oil Corp and Hindustan Petroleum Corp have collectively secured approximately 7 million barrels of crude oil through recent tenders. Indian Oil acquired various grades from Angola and Nigeria, while HPCL purchased Brazilian Tupi crude. These significant purchases are slated for delivery between August and September, bolstering India's energy reserves.
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.
From Gift Nifty, crude oil prices to gold rate: 8 key things that changed for Indian stock market over weekend - livemint.com
From Gift Nifty, crude oil prices to gold rate: 8 key things that changed for Indian stock market over weekendlivemint.com
Indian Stock Market Outlook Next Week: Can Sensex, Nifty Hit Fresh Highs? Q1 Earnings, FII, Crude Oil in Focus - Goodreturns
Indian Stock Market Outlook Next Week: Can Sensex, Nifty Hit Fresh Highs? Q1 Earnings, FII, Crude Oil in FocusGoodreturns