Indices at previous closing
Nifty50: 15,692 ▲+2 (+0.0%)
Sensex: 52,372 ▼-13 (-0.0%)
Nifty Bank: 35,198 ▲+126 (+0.3%)
In the news
Jio races ahead of rivals
- Reliance Jio added 47.5 lakh new subscribers in April, seizing the top spot. After these additions, Jio’s total subscription base stands at 42.7 crore, according to the data released by the Telecom Regulatory Authority of India.
- Meanwhile, Bharti Airtel added 5.1 lakh new customers, taking its tally to 35.2 crore. On the other hand, Vodafone Idea lost 18.1 lakh customers, with its subscriber base shrinking to 28.1 crore. Shares of Reliance Industries were up 0.5%, while that of Bharti Airtel were down by 1.2% yesterday. Meanwhile, shares of Vodafone Idea were flat.
Sunteck Realty’s Q1 bookings surge
- The Mumbai-based real estate developer reported a 74% year-on-year rise in bookings in the June quarter to ₹176 crore. The strong performance was driven by its mid-income and affordable housing projects, the company said in its Q1 operational update.
- During the same period, collections also surged 165% to ₹172 crore. The company said that industry consolidation is leading to a rise in share of business for organized developers, and Sunteck will be one of the beneficiaries of this trend. The stock rose 4.9% yesterday and has gained nearly 19% so far this month.
India’s retail inflation eases a bit
- The retail inflation in India marginally dropped in June to 6.26% from 6.30% in May. Nonetheless, consumer inflation has remained above the Indian central bank’s target of 6% for the second consecutive month. The high inflation rate was mainly on account of an increase in fuel prices.
- Meanwhile, the index of industrial production—which measures the industrial output—grew by 29.3% in May on a low base of last year. The manufacturing sector, which accounts for a major part of the IIP, rose 34.5%.
Key data releases this week
Wednesday: Wholesale Price Inflation
Thursday: Trade Balance
Sectoral indices (July 12)
| Top gainers | Top losers |
| Nifty Realty ▲ 3.6% | Nifty IT ▼ 0.4% |
| Nifty Bank ▲ 0.3% | Nifty Metal ▼ 0.2% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.8% |
| Nikkei 225 (Japan) | ▲ 0.8% |
| Hang Seng (Hong Kong) | ▲ 1.3% |
| SSE Composite (China) | ▲ 0.3% |
| Dow Jones (US) (July 12) | ▲ 0.3% |
Fact of the day
In 2021, Netflix is expected to invest $17 billion on content. This is more than 30 times of what Bollywood earns annually.
Source: Variety.com, Financial Express
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