Stock Market Live Wednesday, July 3, 2024: Benchmark stock indices Sensex and Nifty may make a strong start on Wednesday, tracking gains in global markets.
GIFT Nifty futures also opened with a gap up and traded at 24,349 levels, just 146 points higher than Nifty 50 futures.
Asia-Pacific markets were firm on Wednesday morning after Federal Reserve Chairman Jerome Powell signaled progress in tame inflation. Investors are also keeping an eye on key data to be released later in the day, including economic activity reports for June from India and China.
Japan’s Nikkei Stock Average rose 0.69%, while the Tokyo Stock Price Index was flat with a slight decline of 0.06%.
South Korea’s KOSPI rose 0.14%, while the small-cap heavy KOSDAQ added 0.25%, while Australia’s S&P/ASX 200 edged up 0.13%.
Overnight in the US, the Dow Jones Industrial Average rose 0.41%, the S&P 500 rose 0.62% and the Nasdaq Composite Index surged 0.84%. Both the Nasdaq and the S&P 500 hit their highest closing levels ever.
Meanwhile, Indian equity benchmarks ended marginally lower on Tuesday due to selling pressure on banking stocks. The S&P BSE Sensex touched a record high of 79,856 during trading hours before closing down 35 points at 79,441. The NSE Nifty 50 index also touched a record high of 24,236 before dropping 18 points to end at 24,124.
Yes Bank: The company reported that its loans and advances grew 14.8% year-on-year to Rs 2.29 trillion in the first quarter of FY25. Deposits also showed robust growth at Rs 2.64 trillion, up 20.8% year-on-year.
Avenue Supermart: The company achieved standalone operating revenue of Rs 1,371,187 crore for the quarter ending June FY25, registering a growth of 18.4% as compared to Rs 1,158,440 crore in Q1 FY24. The company operates a total of 371 stores as of June 2024.
Moyle: The manganese ore mining company recorded a 14.5% year-on-year increase in sales in the June quarter of FY25. The growth was supported by a record quarterly production of 470,000 tonnes, up 7.8% year-on-year.
