Stock Market Live updates on Thursday, August 7, 2024: Indian bourses are staring at a negative open on Thursday, tracking weak global peers. The GIFT Nifty futures also indicated a gap-down start, quoting 196 points lower than Nifty50 futures at 24,170 levels.
Asia-Pacific markets flashed the red colour on Thursday morning, mimicking the losses from Wall Street. In the US overnight, all three major indices slipped in red with Dow Jones Industrial Average sliding by 0.6 per cent, the S&P 500 dropping 0.77 per cent, and the Nasdaq Composite retreating 1.06 per cent
In Asia this morning, Japan’s Nikkei index declined by 1.88 per cent, while broad based Topix traded by 0.91 per cent lower
In South Korea, the Kospi stripped 1.42 per cent and the Kosdaq fell 0.78 per cent. Australia’s S&P/ASX 200 dropped by 0.52 per cent.
Further, Hong Kong’s Hang Seng index, too, traded in red and edged down by 0.62 per cent.
Domestically, all eyes are on the Reserve Bank of India’s Governor, Shaktikanda Das, who is set to announce the central bank’s decision on interest rate cut today. The RBI’s Monetary Policy Committee (MPC) convened on Tuesday, August 6, for a three-day session to discuss its monetary policy decision.
Stocks to watch today
Hindalco: Hindalco reported a slight 3 per cent decline in net income to $151 million for Q1FY25, although net income excluding special items surged 32 per cent to $204 million. Adjusted Ebitda increased by 19 per cent to $500 million, with rolled product shipments rising 8 per cent to 951 kilotonnes.
NHPC: NHPC’s Q1 consolidated profit grew by 1.2 per cent to Rs 1,108.5 crore, up from Rs 1,095 crore a year ago, but revenue fell 2.3 per cent to Rs 2,694.2 crore from Rs 2,757.3 crore.
NTPC: NTPC Renewable Energy has launched the first 60 MW phase of its 150 MW Gujarat Solar PV project in Radhanpur, Gujarat, bringing NTPC’s total installed and commercial capacity to 76,134 MW.
Abbott India: Abbott India’s profit increased by 13 per cent Y-o-Y to Rs 328.01 crore from Rs 290.2 crore, with revenue up 5.3 per cent to Rs 1,557.6 crore from Rs 1,479 crore.
