Broad Strokes, July 15, 2024
- 8sapience
- BroadStrokes , Quarterly Results
- 15 Jul, 2024
Market Reaction to US Politics and Trump’s Influence on Various Assets
- 📈 Safe-haven assets like gold, Bitcoin, and the dollar surge post-assassination attempt on Trump.
- 📊 S&P 500 futures and US Treasuries expected to see high volatility.
- 💼 Focus on Trump’s policies affecting sectors like energy, private prisons, and health insurers.
Budget 2024 Impact on Stock Market and Sectors
- 🏗️ Infrastructure, cement, and IT sectors to benefit from capex announcements.
- 🌾 Emphasis on rural revitalization and manufacturing advancements.
- 📉 Reasonable valuations in IT and BFSI; overpriced sectors include defense and power.
Zomato Shares Surge on Platform Fee Hike
- 🍔 Zomato hikes platform fee to Rs 6 per order, boosting shares to Rs 232.
- 💸 Analysts expect a 1-2% positive impact on EBITDA.
- 📈 Founder Deepinder Goyal becomes a billionaire, with market cap reaching Rs 2 trillion.
Financial Results: BoM, HDFC Life, Geojit, Jio
- 📈 Bank of Maharashtra sees 46.64% rise in net profit to Rs 1,293 crore.
- 💼 HDFC Life Insurance posts a 15% rise in Q1 net profit to Rs 479 crore.
- 📊 Geojit Financial Services reports a 107% year-on-year surge in net profits.
Tyre Stocks Surge on Reports of Price Hike
- 🚗 MRF and other tyre stocks rally on price hike reports effective July 18.
- 📈 MRF increased prices for truck and passenger car tyres by 2-7%.
- 💹 MRF’s net profit rises in Q4 FY24, showcasing mixed financial performance.
Aurobindo Pharma Buyback Announcement
- 💊 Aurobindo Pharma’s stock hits Rs 1,409.9 ahead of its first buyback program.
- 📈 Shares have grown over 90% in the past year.
- 📊 Analysts project a strong financial performance for the June quarter.
Nifty 50 Bullish, Market Outlook Positive
- 📈 Nifty 50 Index shows a bullish trend with resistance around 24,800.
- 💼 Traders advised to book profits near resistance levels.
- 📉 Monitoring support and resistance levels crucial for navigating market momentum.
IPO News: Sai Life Sciences and Swiggy Announce Fundraising Plans
- 📈 Sai Life Sciences files for IPO to raise funds for debt repayment and corporate purposes.
- 🍽️ Swiggy announces $65 million ESOP liquidity program ahead of anticipated IPO.
- 📊 Growing momentum in Indian market for IPOs and employee incentives.
