Indices at previous closing
Nifty50: 15,689 ▼ -38 (-0.2%)
Sensex: 52,386 ▼ -182 (-0.3%)
Nifty Bank: 35,071 ▼-202 (-0.5%)
In the news
DMart Q1 profit misses street estimates
- Mumbai-based retail major Avenue Supermarts, which owns and operates DMart stores, reported a 132% year-on-year jump in net profit at ₹115 crore for the June quarter. However, on a quarter-on-quarter basis it was a sharp drop of 74% and further it missed street estimates of ₹159 crore.
- Further, its revenues declined by 31% QoQ due to the impact of the second wave on store operations. Meanwhile, it has opened 22 new stores after the June quarter of last year. Shares of Avenue Supermarts have been flattish so far this month with a rise of 1%.
All eyes on key data and Zomato IPO
- After an indecisive last week, the street will be monitoring key earnings announcements and data releases this week. The Index of Industrial Production is expected to reveal the pace of recovery in the manufacturing sector. Similarly, the retail and wholesale inflation numbers will reveal the extent of the threat posed by rising prices.
- Also, large-cap companies such as Infosys, Wipro and HDFC AMC will be announcing their Q1 results. Besides this, online food delivery giant Zomato’s initial public offering (IPO) will open for subscription between July 14–16. You can apply for IPOs on Upstox.
Niti Aayog expects double-digit growth in FY22
- India is expected to register double-digit growth in FY22, according to the Vice Chairman of the government policy think tank Niti Aayog. He said that sectors such as steel, cement and real estate are already seeing significant investments.
- He further added that the disinvestment climate looks better, with economic activities likely to gather momentum in the second half of the current fiscal. The government has set a target of ₹1.75 lakh crore from disinvestment of public sector companies in FY22.
Key data releases this week
Monday: Consumer Price Inflation, Industrial Production
Wednesday: Wholesale Price Inflation
Thursday: Trade Balance
Sectoral indices (July 9)
| Top gainers | Top losers |
| Nifty Realty ▲ 2.3% | Nifty Bank ▼ 0.5% |
| Nifty Metal ▲ 1.9% | Nifty Financial Services ▼ 0.4% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.4% |
| Nikkei 225 (Japan) | ▲ 2.2% |
| Hang Seng (Hong Kong) | ▲ 0.6% |
| SSE Composite (China) | ▲ 0.8% |
| Dow Jones (US) (July 9) | ▲ 1.3% |
Fact of the day
Only 13 stocks from the current Nifty50 pack have been part of the index since its inception in 1996.
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.