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EquityWireEquity Alert: Global cues, oil prices to drive market activity in near-term
Equity Alert

Global cues, oil prices to drive market activity in near-term

This story was originally published at 17:05 IST on 14 August 2026
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Informist, Friday, Aug. 14, 2026                                      Tel +91 (22) 6985-4000


Equity Alert: Global cues, oil prices to drive market activity in near-term

 

MUMBAI--1635 IST--Global cues and oil prices are likely to drive activity in the equity markets in the coming weeks following the conclusion of the June quarter earnings season, according to analysts. On Friday, both the Nifty 50 and the BSE Sensex ended slightly lower as crude oil prices inched up amid the US-Iran hostilities. October Brent crude futures gained around 2% and touched an intraday high of nearly $89 per barrel on Friday.

 

Friday, Nifty 50 closed at 24366 points, down 29.85 points or 0.1%, marking its lowest closing level in August. The BSE Sensex closed at 78009.25 points, down 70.71 points or 0.1% lower. Immediate support for the 50-stock index is at 24200, with a fall below the psychologically significant level of 24000 possible thereafter. The index is expected to face resistance at 24500 points in the near-term. Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity, said the Nifty 50 found strong support at its 20-day moving average of 24323 in the previous three sessions.

 

Indices are not expected to move in a clear direction in the near term, given the absence of concrete positive or negative triggers, according to analysts. "Markets are lacking some kind of positive triggers or negative triggers which are coming, which are yet to come or which haven't come yet. So, I would say that, you know, it is a good idea to stay long in Nifty," Kewat said. With foreign institutional investor inflows turning positive in August, Kewat is optimistic that the 50-stock index could head towards the 25000 level in the coming few weeks. However, the analyst acknowledged that, given the lack of a clear resolution to the US-Iran war, crude oil prices could cause short-term volatility in the equity markets. 

 

The closing auction mechanism implemented last week has increased volatility, particularly on expiry days of Nifty 50 derivatives contracts, an analyst at a major broking firm said. "So, on expiry days, there might be some more volatility, but on other days, that is Monday, Wednesday, and Friday, I think on those days, you will likely see a more subdued closing," the analyst said. (Shruti Nair)


Equity Alert: Most European indices flat, Germany's Dax outperforms

 

MUMBAI--1557 IST--European indices were subdued and the pan-European Stoxx Europe 600 was only marginally higher. While stocks in the technology, luxury, and travel sectors rose, those in the power, utilities, and energy space fell. Germany's key index, the Dax Performance, outperformed its peers in the region. The UK's FTSE 100 index continued its fall for the fifth consecutive session. The Swiss, British, and French benchmark indices were headed for weekly losses. 

 

In the utilities sector, shares of Italian energy company Enel fell more than 1% and those of British gas major SSE fell slightly. Shares of Spanish electric player Iberdrola fell slightly. In the luxury sector, shares of Hermes International rose around 1% and those of LVMH, Salvatore Ferragamo and Brunello Cucinelli rose slightly. The Stoxx Europe Luxury 10 was modestly higher. In the travel and leisure space, shares of IAG and Airbus rose more than 1% while those of Lufthansa rose slightly. 

 

On the macroeconomic front, Eurozone GDP expanded 0.4% in the June quarter, against zero growth witnessed in the March quarter. GDP of the European Union rose 0.5% in the quarter ended June, higher than 0.1% in the preceding quarter. The rate of employment increased 0.1% in both the Eurozone and the EU during Apr-Jun. 

 

Following were the levels of key indices in the region at 1505 IST:

 

Index

Level

Change in %

FTSE 100 Index

10751.37(-)0.2

CAC 40

8644.34(-)0.1

MIB INDEX

53681.15(-)0.02

DAX PERFORMANCE-INDEX

26428.710.5

SLI

2322.65(-)0.2

 

(Deesha Jadhav)


Equity Alert: Nifty 50 Aug ends at premium of 84 points to spot index

 

MUMBAI--1555 IST--The August futures contract of the Nifty 50 closed at a premium of 84 points to the spot index Friday. Open interest in the contract rose 0.7% from Thursday to around 12.80 million, according to provisional data.

 

--Nifty 50 closed at 24366 points, down 29.85 points or 0.1% vs Thursday

--Nifty 50 August closed at 24450 points, down 18.00 points or 0.1% vs Thursday

 

Nifty 50 options, expiring Tue, with maximum change in open interest:

Call: 24350, Put: 24300

 

Nifty 50 options, expiring Tue, with maximum open interest:

Call: 25000, Put: 24000

 

(Eshitva Prakash)


Equity Alert: Indices end slightly dn; Nifty 50 ends at lowest level in Aug

 

MUMBAI--1550 IST--Benchmark indices ended lower on Friday as ongoing tensions between the US and Iran kept oil prices at around $88 per barrel. With only 10 of its constituents ending higher, the Nifty 50 index closed lower for the fourth straight session. Both the Nifty 50 and BSE Sensex opened the session lower on Friday and moved within a range until afternoon, following which they came off lows, with the Nifty managing to briefly inch higher. This was due to the Nifty 50 touching its support level at 24330, which triggered a brief buying action in the market, according to analysts. Subsequently, however, the index gave up its marginal gains but managed to end above its intraday low.

 

Friday, the Nifty 50 index closed at 24366, down 29.85 points or 0.1%, marking its lowest closing level in August. The BSE Sensex closed at 78009.25, down 70.71 points or 0.1%. Broader market indices fared worse than their headline peers, with both the Nifty small-cap and Nifty mid-cap indices ending 0.5-0.7% lower.

 

Most sectoral indices ended lower. The Nifty Pharma index closed 1% lower and was the worst performer among sectoral indices, followed by the Nifty Metal and Nifty Pharma indices, which ended nearly 1% lower each. On the other hand, the Nifty Media ended nearly 1% higher, outperforming other sectoral indices. This comes after shares of heavyweight constituent Zee Entertainment surged during the session after the Securities Appellate Tribunal allowed the company to move on with its INR-31.43-billion fund-raising. The stock ended 6% higher, among the top gainers in the Nifty 500.

 

Tata Motors Passenger Vehicle closed 4% lower and was the worst-hit constituent of the Nifty 50 index after the company detailed its June quarter results Thursday. The automobile maker's consolidated net profit plunged 80% on year to INR 7.75 billion. The bottom line was dragged down by the underperformance of its UK-based subsidiary Jaguar Land Rover Automotive PLC. On the other hand, Apollo Hospitals Enterprise ended nearly 4% higher after the company on Thursday guided for growth of 20% on year in its hospitals operations in the current financial year.

 

LG Electronics India closed at its 10% upper circuit, and was the highest gainer in the Nifty 200 and Nifty 500 indices. This was after the electronics company's June quarter earnings beat the Street's estimates. For Apr-Jun, the company reported 27% on-year growth in its net profit at INR 6.53 billion, while its revenue grew 15% on year to INR 72.33 billion. On the other hand, National Aluminium Co. ended over 6% lower and was the worst-hit stock in both the Nifty 200 and Nifty 500 indices amid lower global aluminium prices. (Shruti Nair)


Equity Alert: Most Asian mkts end up on gains in tech, semiconductor stocks

 

MUMBAI--1411 IST--Barring Hong Kong's Hang Seng, most Asian stock indices ended higher. South Korea's Kospi led the gains and closed more than 2% higher. The index closed higher for the fifth straight session. The technology-heavy index was lifted by gains in Samsung Electronics and SK Hynix. Japan's Nikkei 225 and the broader-market Topix both closed around 1% higher each. Mainland China's CSI 300 ended nearly flat and Singapore's FTSE Straits Times closed slightly higher.  

 

Kospi heavyweights Samsung Electronics and SK Hynix closed more than 2% and 3% higher, respectively. In Japan, semiconductor player Advantest closed around 3% higher. Shares of SoftBank Group closed around 3% higher. In China, shares of Zhongji Innolight and Eoptolink Technology ended more than 2% and 3% higher, respectively. 

 

Hong Kong's Hang Seng closed more than 1% lower. The index was dragged down by losses in technology stocks. Shares of multinational technology company JD.com fell more than 10% after the company reported a 2.9% fall in its revenue for the June quarter. Shares of Alibaba and Baidu closed around 2% lower each, and those of Tencent Holdings closed slightly lower. 

 

Meanwhile, in Australia, shares of Commonwealth Bank of Australia and BHP Group closed more than 1% and 3% lower, respectively, and those of mining company Rio Tinto closed more than 3% lower.  

 

On the macroeconomic front, Taiwan's economy is expected to grow 11.05% this year, according to the Directorate General of Budget, Accounting and Statistics, Reuters reported. This marks an increase from the agency's earlier forecast of a 9.64% expansion. The country's GDP increased 12.93% on year in the June quarter, against a preliminary reading of 12.92%, as per the report. 

 

Following are the levels of key indices in the region at 1406 IST:

 

Index

Level

Change in %

Nikkei 225 Day

68713.80

0.6

TOPIX FIRST SECTION

4197.20

0.5

S&P/ASX 200 Index

9115.20

(-)0.8

KOSPI Index

6977.94

2.4

Hang Seng Index

25116.85

(-)1.1

CSI 300 Index

4665.88

0.04

FTSE Singapore Strait Times

5724.83

0.1

 

(Deesha Jadhav)


Equity Alert: Indices remain lower as crude prices inch higher to $89/bbl

 

MUMBAI--1356 IST--Benchmark indices remained in the red in the midday trade with crude oil prices inching higher. Amid comments made by the US about maintaining the naval blockade in the Strait of Hormuz "indefinitely", October futures of Brent crude oil gained around 2% to nearly $89 per barrel. With most of the constituents trading in the negative territory, the Nifty 50 index hovered around the 24350 mark.

 

At 1324 IST, the Nifty 50 index was at 24343.30 points, down 0.2%, while the BSE Sensex was at 77846.13 points, down 0.3%. Apollo Hospitals Enterprise up 3% was the top gainer in the 50-stock index after the company guided 20% on-year growth in its hospital operations for financial year 2026-27 (Apr-Mar). Tata Motors Passanger Vehicles shed nearly 5% and remained the worst-hit stock in the index. The company's consolidated net profit for the June quarter plunged 80% on year to INR 7.75 billion.

 

All broader market indices were also lower, with the Nifty midcap indices down 0.3-0.4%, while the Nifty small-cap indices shed 0.3-0.5%. Most sectoral indices were in the red, with the Nifty Pharma and Nifty Metal indices down 0.7% each. Profit-booking amid a lack of positive developments on the US-Iran front dragged down metal stocks, according to an analyst.

 

LG Electronics was the top gainer in both the Nifty 200 and Nifty 500 indices. The stock was up 9% after the company's June quarter bottom line and sales beat the Street's view. The stock hit its highest level since October 2025 at INR 1,735 earlier in the session. National Aluminium Co., down 6%, was the worst-hit stock in both the Nifty 200 and Nifty 500 amid lower aluminium prices on the London Metal Exchange. (Shruti Nair)


 

Equity Alert: Cochin Shipyard down ahead of Jun qtr earnings, PAT seen weak 

 

NEW DELHI--1355 IST--Cochin Shipyard Ltd. was trading 1.2% lower at INR 1,488 ahead of the company's June quarter earnings later in the day. The company is expected to report weak earnings for the quarter, with net profit and revenue seen declining significantly from the year-ago quarter, according to two brokerages. 

 

Phillip Capital (India) Pvt. Ltd. expects Cochin Shipyard to report a net profit of INR 1.30 billion for the June quarter, down 31% on year and 40% sequentially. The company's standalone revenue is expected to be INR 10.20 billion, up 4.4% on year but down 16% sequentially. 

 

Kotak Securities Ltd. has relatively conservative earnings estimates, particularly for revenue at INR 8.50 billion, down 13% on year and 30% sequentially. The brokerage expects the company's net profit at INR 1.24 billion, down over 34% year-over-year and 43% sequentially.

 

"Cochin Shipyard is expected to see a 13% topline decline, driven by the execution of ASW (anti-submarine warfare) Corvette and NGMV (next generation missile vessels) projects will be partially offset by lower ship repair revenues, with EBITDA margins at 17.1%," Kotak said. 

 

For the March quarter, the company had reported a net profit of INR 2.16 billion on revenues of INR 12.14 billion. The company's shares have fallen nearly 7% since reporting the previous quarter's results. (Afra Abubacker)


Equity Alert: Zee Entertainment shrs gain 8% post SAT relief on fund raising

 

MUMBAI--1354 IST--Shares of Zee Entertainment Enterprises rose over 8% to an intraday high of INR 104.74 after the Securities Appellate Tribunal allowed the company to move on with its INR 31.43 billion fund raising. However, company's Managing Director and Chief Executive Officer Punit Goenka will have to deposit the penalty levied by the Securities and Exchange Board of India in one week to avail the relief of the appellate tribunal order. 

 

The company's preferential warrant issue for the purpose of fund raising was set to expire on Friday. However, the time to issue the preferential warrant has been extended by one week, said the appellate tribunal. The company can also access its mutual fund units for daily operational needs but not for other purposes, the tribunal clarified. Meanwhile, the rest of the debarment against Zee Entertainment, Goenka, and the company's chairman emeritus, Subhash Chandra will stay.

 

In an order dated Aug. 1, the SEBI had banned Zee Entertainment, Goenka, and Chandra from the securities market for two months. The ban pertains to the company's unauthorised pledge of its land in Hyderabad to secure loans by promoter-linked Essel group entities. The market regulator also imposed a penalty of INR 14.8 million on the entities as well.

 

A day before the event, the company received shareholders' approval for the resolution to issue fully convertible warrants on a preferential basis to the promoter group entity. The company was set to issue 249.49 million warrants to the promoter group entity at INR 126 apiece. The promoters were said to invest INR 31.44 billion in the company, eventually elevating the total promoter shareholding to 23.8%. However, post the ban from the market regulator, it was uncertain whether the company would move on with the fund raising.

 

At 1250 IST, shares of Zee Entertainment Enterprises traded nearly 6% higher at INR 102.50. Over 81 million shares of the company changed hands on NSE. which is over four times higher than the number of shares traded till the same time Thurdsay. The stock was among the top gainers in the Nifty 500 indices.  (Adhithya Aji)


 

Equity Alert: Technocraft Ventures lists at about 34% premium to issue price

 

MUMBAI--1323 IST--Shares of Technocraft Ventures listed at a premium of around 34% to the issue price on the National Stock Exchange and the BSE Friday. It listed at INR 285 on the BSE and at INR 284 on the NSE and its issue price was set as INR 212 apiece. The stock soared almost 58% from its issue price to touch an intraday high of INR 334.40 on the NSE.

 

At 1313 IST, the stock was up 44% at INR 305.65 on the NSE and close to 24 million shares of the company changed hands on the bourse. Trading volumes on the NSE were 11 times higher than on BSE. 

 

Technocraft Ventures' initial public offer was subscribed 38.69 times, with bids placed for 321.78 million shares against 8.32 million shares on offer. Subscription to the offer had closed Thursday.

 

Technocraft Ventures is a multi-disciplinary public infrastructure development company engaged in the execution of turnkey engineering, procurement, and construction contracts. For the financial year 2025–26 (Apr-Mar), it had reported a consolidated net profit of INR 433.15 million on revenues of INR 3.45 billion. (Ruchira Kagita)


Equity Alert: Tube Investments falls 1% ahead of Apr-Jun earnings

 

MUMBAI--1215 IST--Shares of Tube Investments of India shed over 1% to hit an intraday low of INR 2,744.10 on the National Stock Exchange ahead of the company's June quarter earnings later in the day.

 

Motilal Oswal Financial Services Ltd. estimates the company's net profit for the June quarter to fall nearly 2% on year to INR 1.65 billion. The profit is forecast to decline more than 42% from the previous quarter. 360 ONE Capital Market Pvt Ltd. projects the company's bottom line at INR 1.92 billion, up nearly 14% on year but down 30% from the March quarter.

 

Motilal Oswal expects the company's revenue at INR 22.27 billion, up nearly 11% and down more than 2% from the previous quarter. 360 ONE Capital Market estimates Tube Investment's top line at INR 22.97 billion, up 14% on year. The on-year growth in revenue is likely driven by healthy performance across the company's engineering and metal-formed products businesses, 360 ONE said.

 

The metal-formed division is expected to grow 13% on year, while the mobility and engineering divisions expected to grow around 9% and 12% on year, respectively, Motilal Oswal said. Revenue from its other businesses is likely to rise 2% on year, the brokerage said. It expects the company's earnings before interest, tax, depreciation, and amortisation at INR 2.47 billion. "We expect EBITDA margin to contract 120 basis points YoY to 11.1%," Motilal Oswal said.

 

According to 360 ONE Capital Market, the company's EBITDA margin is expected to rise to 12.4%, supported by operating leverage and an improving business mix.

 

At 1303 IST, shares of the company were at INR 2,757.80 on the NSE, down 0.8% from Thursday. Only one brokerage report is available on the company with Informist. Motilal Oswal has a "buy" recommendation on the stock with a target price of INR 3,454. For the March quarter, Tube Investments reported a net profit of INR 2.84 billion and revenue of INR 22.79 billion. Shares of the company have fallen 6% since the company detailed its March quarter earnings.  (Shreya Shetty)


Equity Alert: Leap India lists on exchanges at 4% premium to issue price

 

MUMBAI--1205 IST--Shares of Leap India listed at a premium to the issue price on the National Stock Exchange and the BSE on Friday. The stock listed at INR 166 on both bourses, 4% higher than the issue price of INR 159 apiece. While the stock opened higher, it pared all gains and slipped into the red. The stock fell as much as almost 9% to an intraday low of INR 145. At 1159 IST, it was off lows and over 3% lower at INR 153.81 on the NSE with trading volumes of over 74 million.

 

Subsrciption to the company's initial public offer closed Tuesday, and it was subscribed over eight times, led by strong traction from qualified institutional buyers. The company received bids for 963.26 million shares, as against 114.99 million on offer.

 

Leap India provides on-demand asset pooling in India, with its service offering technology-enabled supply-chain solutions that suit customer requirements across industries. For the financial year 2025-26 (Apr-Mar), it had reported a consolidated net profit of INR 623.41 million on revenues of INR 7.30 billion.  (Ruchira Kagita)


Equity Alert: Patanjali Foods shares down 2% ahead of June quarter earnings


MUMBAI--1040 IST--Shares of Patanjali Foods Ltd. were trading nearly 2% lower at INR 348.75 ahead of the company's June quarter earnings, due later in the day. The company is expected to report a significant on-year rise in its net profit for the June quarter, but it may fall sharply on a sequential basis. 

 

Systematix Shares and Stocks (India) Ltd. expects the company to report a net profit of INR 2.51 billion, up 39% on year from INR 1.80 billion in the year-ago quarter. The company's consolidated net sales are expected to rise sharply on year but fall sequentially. Systematix expects net sales to increase 15% on year to INR 100.74 billion from INR 87.66 billion in the year-ago quarter.

 

Patanjali reporterd a net profit of INR 5.24 billion on revenue of INR 111.56 billion in March quarter. 

 

Patanjali's increase in revenue will be driven by a sharp growth in the edible oils segment due to price hikes and in the biscuits segment, Systematix said. The food business is expected to report subdued growth, while the performance in the home and personal care segment is expected to remain stable, the brokerage added.

 

Systematix expects the company to report earnings before interest, tax, depreciation, and amortisation of INR 3.93 billion, up 18% on year. The brokerage expects the EBITDA margin to expand slightly on year to 3.9% from 3.7% in the year-ago quarter due to improvement in margins from the edible oils business.

 

Investors will closely watch the outlook on growth in foods, edible oils, and home and personal care segments. Elevated input costs are also a key point to watch.

 

The two brokerage reports on the company available with Informist have a "buy" recommendation on the stock with an average target price of INR 550 per share. The target price is 58% higher than the current market price.  (Devanshu Singla)


 

Equity Alert: Indices open dn, extend loss for 4th day; Tata Motors PV dn 5%

 

MUMBAI--1010 IST--Domestic equity indices started the week's last trading session on a negative note, weighed down by the recent escalation in the West Asia war and the consequent rise in Brent crude oil prices. Brent crude oil for October delivery was at $86 a barrel compared with the previous day's high of $89 a barrel. The Nifty 50 index opened below the 24400-point level for the first time in two weeks.

 

At 0958 IST, the Nifty 50 was at 24339.40, down 56.45 points or 0.2%. The BSE Sensex was at 77831.43, down 248.53 points or 0.3%. All broader market indices were red, with small-cap indices largely flat to 0.2%. Mid-cap indices were also down marginally each. Barring the Nifty Consumer Durables and Nifty Private Bank, all sectoral indices were down. The Nifty Metal shed the most, down over 1%.

 

Tata Motors Passenger Vehicles was the worst-hit stock in the Nifty 50 index, down over 5%. Shares of the company declined after its June quarter consolidated net profit was down over 80% on year and missed the Street's estimate. Hindalco Industries was down almost 2% in the index. Max Healthcare Institute was down over 1%. The company's sales for the reporting quarter missed view despite posting healthy growth.

 

Apollo Hospitals Enterprise was the biggest gainer among Nifty 50 stocks, up nearly 3%. Shares rose after the company said it expected a 20% on-year growth in its hospital operations by 2026-27 (Apr-Mar).  (Arundathi A R)


Equity Alert: Asian mkts open mixed amid gains in tech, losses in healthcare

 

MUMBAI--0805 IST--Asian markets opened mixed Friday with South Korea's Kospi leading the gains and rising more than 1%. The index extended its gains for the fifth session in a row. Japan's Nikkei 225 and the broader market Topix both rose around 1% each. The gains in the region were supported by technology stocks which took cues from their counterparts in the US. Meanwhile, Hong Kong's Hang Seng fell around 1%, led by losses in the healthcare index which was down nearly 2%. Mainland China's CSI 300 fell slightly and Singapore's FTSE Strait Times was flat. 

 

Shares of Japanese technology companies such as Advantest, Kioxia Holdings, and Tokyo Electron posted gains. Shares of Advantest rose more than 3% and those of Kioxia Holdings rose 4%, while Tokyo Electron rose slightly. Kospi heavyweight SK Hynix was up around 4% and Samsung Electronics was up around 1%. Meanwhile, in Hong Kong, shares of pharmaceutical conglomerate Sino Biopharmaceutica were down 1%. Shares of manufacturer and seller of pharmaceutical products, CSPC Pharmaceutical, were down more than 1%. Drugmaker Jiangsu Hengrui Pharmaceuticals fell more than nearly 4%. 

 

In Australia, shares of BHP Group fell more than 3% and those of mining company Rio Tinto fell more than 2%. Commonwealth Bank of Australia fell around 1%. This dragged the S&P/ASX index around 1% lower. 

 

Following are the levels of key indices in the region at 0757 IST:

 

Index

Level

Change in %

Nikkei 225 Day

68905.040.9

TOPIX FIRST SECTION

4207.220.8

S&P/ASX 200 Index

9122.1(-)0.7

KOSPI Index

6906.691.4

Hang Seng Index

25186.17(-)0.8

CSI 300 Index

4655.66(-)0.2

FTSE Singapore Strait Times

5718.44(-)0.03

 

(Deesha Jadhav)


Equity Alert: Indices seen in range; peace deal developments, oil prices eyed

 

MUMBAI--0835 IST--Domestic equity indices are seen moving in a range Friday amid higher oil prices and unresolved West Asia war. Analysts will closely track the peace deal developments and oil price movements. Brent crude oil for October delivery fell slightly to $86 a barrel from the previous day's high of $89 a barrel. Shares of Tata Motors Passenger Vehicles will be in focus as the company reported its June quarter results post-market hours Thursday.

 

At 0835 IST, the August futures contract of GIFT Nifty was marginally lower from Thursday at 24427. This was up over 31 points than the Nifty 50's previous close of 24395.85, suggesting a rangebound movement. "Nifty (50) in the previous trading session recovered after taking support at the 20-DMA (daily-moving average), placed at 24321," Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity Research, said. "The overall view remains positive as long as Nifty (50) sustains above the key support levels of the 20-DMA and the psychological level of 24000. Sustaining above these levels could lead the index towards the next resistance of 24600 in the coming sessions."

 

Tata Motors PV's consolidated bottom line for the June quarter fell sharply on year as continued underperformance by its UK-based subsidiary Jaguar Land Rover Automotive PLC outshone the strong performance of its domestic car business. The automaker's consolidated net profit for the June quarter was INR 7.75 billion, down 80% on year and 87% on quarter. Its consolidated revenues grew 9% on year but fell by the same quantum on quarter to INR 957.99 billion.

 

Major US indices settled higher Thursday with the Nasdaq Composite leading the gains and closing around 1% higher. Asian equity indices were mixed, with South Korea's KOSPI gaining the most.  (Arundathi A R)


Equity Alert: US indices end up on gains in tech, communication sector

 

 

MUMBAI--0702 IST--Major US indices closed higher Thursday with the Nasdaq Composite leading the gains and closing around 1% higher. The S&P 500 ended at a record closing high, boosted by gains in Sandisk and other technology stocks. The S&P communications and technology sectoral indices outperformed Thursday. The communications sector index closed 1.6% higher and the technology index closed 1% higher. The Dow Jones Industrial Average closed slightly higher. 

 

Shares of memory chipmaker Sandisk ended nearly 14% higher. Another chipmaker, Micron Technology closed more than 4% higher. Shares of Microsoft and Apple closed around 1% higher each, while those of Nvidia closed slightly higher. Shares of Meta Platforms ended around 3% higher and those of Dell Technologies ended more than 2% higher.  

 

Strong earnings forecasts from companies such as Microsoft and Amazon have reduced investors' concerns regarding the massive spending on artificial intelligence data centres, Reuters reported. "The AI earnings-driven tech boom continues," Reuters quoted Jay Hatfield, chief executive officer of Infrastructure Capital Advisors in New York. "It's an earnings boom, not a bubble."

 

The cooler-than-expected inflation data lowered expectations of a rate hike. Traders are now pricing in a 65.2% chance that the US Federal Reserve will hold rates steady in September, up from 59.4% Thursday, according to CME FedWatch. 

 

Following were the closing levels of major US indices Thursday:

 

Index

Level

Change in %

Dow Jones Industrial Average

53879.990.1

NASDAQ Composite

26803.030.8

S&P 500

7798.990.7

 

(Deesha Jadhav)

 

US$1 = INR 95.43

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Saji George Titus

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

NSE: National Stock Exchange
NYSE: New York Stock Exchange
NYMEX: New York Mercantile Exchange
SEBI: Securities and Exchange Board of India
RBI: Reserve Bank of India

Internet links:
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Bombay Stock Exchange - http://www.bseindia.com
National Stock Exchange of India - http://www.nseindia.com
Directory of Indian government websites - http://goidirectory.nic.in
Indian Ministry of Finance - http://www.finmin.nic.in
Reserve Bank of India - http://rbi.org.in
Controller General of Accounts, Government of India - http://www.cga.nic.in
Government's Press Information Bureau - http://www.pib.nic.in

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

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