Indices at previous closing
Nifty50: 15,834 ▲+112 (+0.7%)
Sensex: 52,880 ▲+395 (0.7%)
Nifty Bank: 35,212 ▲+402 (+1.1%)
In the news
Domestic flight capacity increased
- As per the latest government order, domestic airlines can now operate flights at 65% of their total seating capacity till July 31 or further orders. This means that airlines can now fly 30% more passengers than permitted by the earlier cap.
- The decision could help domestic carriers take advantage of the pent-up demand for travel. Yesterday, shares of InterGlobe Aviation (Indigo) and SpiceJet rose up 2% and 1%, respectively.
Godrej Consumer expects strong growth in Q1
- The fast-moving consumer goods company expects its June quarter sales to grow in the high teens, led by strong volume growth and price hikes. The company is estimating strong demand for its home care and personal care products, where it expects double-digit growth.
- Within the above categories, the company witnessed strong demand for household insecticides and personal hygiene products. Shares of Godrej Consumer were up around 4% yesterday.
Crude rises as OPEC+ meeting adjourned
- Crude oil prices spiked yesterday after OPEC+ nations abandoned their meeting, leaving the decision to increase production limits in limbo. While on the one hand, the UAE wants to end the production curbs by April 2022, Saudi Arabia wants to extend them till the end of 2022.
- The oil market is already facing tight supplies and crude prices are rising as the global economy gets back on track. The US crude oil prices moved above $76 again and are now at their highest since November 2018.
Key data releases this week
Thursday: Initial Jobless Claims (US), Crude Oil Inventories (US)
Sectoral indices (July 5)
| Top gainers | Top losers |
| Nifty Realty ▲ 2.7% | Nifty IT ▼ 0.2% |
| Nifty Bank ▲ 1.1% | Nifty Pharma ▼ 0.0% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.1% |
| Nikkei 225 (Japan) | ▲ 0.4% |
| Hang Seng (Hong Kong) | ▼ 0.1% |
| SSE Composite (China) | ▲ 0.0% |
| Dow Jones (US) (July 5) | ▲ 0.4% |
Fact of the day
The hole in the Earth's ozone layer is expected to fully heal within 50 years, according to a UN report.
Yay 👍 or Nay 👎?
We'd love your thoughts on this morning update.
If you haven't already, open your Upstox account to get IPO-ready today! Click here to sign up.
To catch our latest educational videos, join our Telegram channel here.
Disclosures and Disclaimer
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.