Market News

China stocks plunge on CXMT IPO liquidity concerns

Chinese and Hong Kong equities experienced sharp declines on Friday, with mainland benchmarks heading for their steepest weekly losses in over two years amid concerns that CXMT's $8.6 billion IPO and upcoming large listings could strain market liquidity. The selloff particularly impacted AI and semiconductor stocks as investor sentiment deteriorated.

Polycab India shares fall 4% despite record Q1 earnings surge

Polycab India's stock declined 4% on Friday despite the company posting its best-ever first-quarter results, with net profit jumping 33% year-on-year to Rs 797 crore and consolidated revenue surging 39% to Rs 8,210 crore. The disconnect between strong financial performance and stock weakness reflects profit-taking by investors despite robust operational growth.

NSE draws rare 'Sell' call ahead of long-awaited IPO debut

Dolat Capital initiated coverage on NSE with a 'sell' rating and Rs 1,550 target price, implying 26% downside from unlisted-market valuations ahead of the exchange's planned $3 billion IPO. The brokerage cites expectations of tighter derivatives regulations, declining options volumes, and market-share losses as headwinds that would pressure growth and justify lower valuations.

Indian IT stocks rally on strong Q1 results and major deal wins

Indian IT majors including Infosys, TCS, and HCL Tech gained up to 3% on Friday, driven by Tech Mahindra's better-than-expected first quarter earnings and HCL Tech's securing of a significant seven-year contract. The Nifty IT index posted notable gains, though Wipro declined over 3% after reporting weak Q1 performance.

CXMT's $8.6B IPO Draws Strong Retail Demand Despite Investor Caution

Chinese memory chipmaker CXMT's initial public offering of $8.6 billion attracted substantial retail investor interest with the retail tranche oversubscribed 243.93 times, though this level of demand was lower than recent comparable Chinese listings, suggesting underlying market hesitation. The offering reflects broader volatility in technology shares driven by valuation concerns and liquidity constraints, with state media attempting to manage investor sentiment around the IPO's market impact.

Nuvama initiates Buy coverage on SG Mart, Siemens Energy India

Nuvama Institutional Equities has initiated coverage on SG Mart and Siemens Energy India with Buy ratings, setting target prices that imply upside potential of approximately 18% and 21% respectively. The brokerage cited strong earnings growth, improving profitability, and favourable industry trends as reasons for the positive outlook on both stocks.

India bonds tread water ahead of large debt sale

Indian government bonds traded sideways on Friday as the market awaited a significant debt auction, with foreign investor interest providing underlying support. Short-term interest rates rose amid tightening banking system liquidity, while oil prices and U.S. Treasury yields remained range-bound.

CEAT Shares Plummet 9% as Q1 Profit Collapses 96% YoY to Rs 4 Cr

CEAT's share price fell over 9% following the announcement of a dramatic 96% year-on-year decline in net profit to Rs 4 crore for Q1, driven by elevated raw material costs stemming from geopolitical tensions in West Asia. Despite revenue growth of 22% to Rs 4,318 crore, the company's bottom line deteriorated sharply, though management outlined a Rs 1,205 crore capacity expansion plan.

WeWork India Shares Fall 5% Despite Narrowed Loss and Strong Revenue Growth

WeWork India's stock declined 5% despite reporting improved financial metrics for Q1FY27, including a narrowed net loss of Rs 4.31 crore and revenue growth of 27.74% year-on-year to Rs 683.83 crore. The company also expanded its operational footprint by 18.5% to 79 centres and saw free cash flow from operations surge 176.1% year-on-year.

China Accelerates National Infrastructure Spending to Offset Local Investment Decline

China is ramping up central government infrastructure spending to bolster economic growth, compensating for reduced local government investment amid debt constraints and tighter spending oversight. The shift reflects Beijing's strategy to maintain growth momentum while limiting local borrowing and enhancing fiscal control.

Reliance, JSW Steel Lead 33 Companies Reporting Q1 Earnings Today

Reliance Industries and 32 other firms are scheduled to announce their June quarter results on Friday, with several major banks set to follow on Saturday. Analysts expect Reliance to demonstrate steady performance from its oil-to-chemicals segment amid broader earnings season activity.

HDFC AMC among stocks seeing sharp surge in futures open interest

Nine stocks listed on NSE's F&O segment experienced a sharp jump in futures open interest as of July 16, each rising over 10% from the previous session, according to reports. The surge indicates traders are building fresh positions or adding to existing ones in these securities.

US Homebuilder Sentiment Falls to 34 in July Amid Rate Pressures

US homebuilder sentiment unexpectedly declined by two points to 34 in July, driven by elevated mortgage rates and economic uncertainty that continue to dampen housing demand. The weakness suggests homebuilder stocks may face ongoing pressure as builders increasingly turn to discounts and incentives to maintain sales.

Fed's Jefferson Signals Readiness for Rate Hikes if Inflation Remains Elevated

Federal Reserve Vice Chair Philip Jefferson indicated that policymakers may consider interest rate increases if inflation fails to decline, while maintaining that current policy is appropriate for supporting both the labor market and the Fed's 2% inflation target. Jefferson emphasized inflation risks as a priority concern, suggesting the central bank could reassess its stance if price pressures persist.

Japan Reaffirms BOJ Independence Amid Market Concerns

Japan's government has clarified the Bank of Japan's independent role in monetary policy decisions following market concerns triggered by an earlier draft of the economic blueprint. The reaffirmation emphasizes coordination between authorities while preserving the central bank's operational autonomy.

Reliance Industries investors lose Rs 3.5 lakh crore in 2024

Reliance Industries investors have experienced significant wealth erosion of Rs 3.5 lakh crore during the year, with the stock facing pressure across multiple business segments. Upcoming first-quarter earnings results are being viewed as potentially pivotal for restoring investor confidence and triggering a potential stock price recovery.

Sensex climbs 500 points, Nifty tops 24,200 ahead of earnings

Indian equity markets advanced on Friday with the Sensex gaining 500 points and Nifty reaching above 24,200, driven primarily by IT stock strength despite broader market weakness. The rally faced headwinds from geopolitical tensions between Iran and the US, rising oil prices, and persistent foreign investor selling pressure.

RIL Q1 Results Today: What to Expect From Reliance Share

Reliance Industries is announcing its June quarter earnings today, with market participants monitoring the stock's reaction closely. Analysts expect steady performance from the company's oil-to-chemicals and digital services divisions, though historical earnings releases have shown mixed share price movements.

Gold slides Rs 3,000/10g, silver plunges Rs 7,300/kg amid oil rally

Gold and silver prices declined this week on India's MCX exchange, with gold falling Rs 3,000 per 10 grams and silver dropping Rs 7,300 per kilogram, as escalating U.S.-Iran tensions pushed crude oil higher and amplified inflation concerns. The oil rally has intensified expectations of central bank rate hikes, pressuring precious metals despite mixed intraday trading on Friday.

Tech Mahindra shares surge 3% on Q1 earnings beat

Tech Mahindra's stock jumped following the release of better-than-expected Q1 FY27 results, with net profit rising 28% year-over-year to Rs 1,465 crore and revenue climbing 18% to Rs 15,712 crore. The strong performance, driven by broad-based growth, substantial deal wins, and margin expansion, has prompted major brokerages including Nomura and Nuvama to reassess their outlooks on the IT services company.