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FPI flows into India continue unabated in July, too. India is the largest recipient of FPI flows YTD among emerging markets, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Reliance Industries Limited posted consolidated revenues of Rs 231,132 crore ($28.2 billion), down 4.7 per cent YoY, for Q1 FY2023-24 due to sharp decline in O2C revenues with 31 per cent fall in crude oil prices.

The substantial cut in the guidance is majorly attributed to lower-than-expected volume and discretionary spends, delays in decision-making and push-outs in anticipated mega deals, the report said.

Barring the US, India is the most expensive market in the world now, Vijayakumar added. At high valuations, some negative triggers can lead to sharp correction. But in the near-term the party may continue.

Nifty opened flat on Thursday, but soon gained momentum to close with handsome gains of 146 points at 19,979 levels, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.

Comparing the newly discovered ex-JFSL price of RIL shares, and the pre-demerger cum-JFSL share price on the previous day, the market has valued each JFSL share at Rs 261.85 on the NSE.

The market discovered price of Rs 261.85 per share of Jio Financial Services has come much higher than most brokerages' estimates, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Indian benchmark indices continued the winning run for the fifth consecutive session on July 19, amid buying across sectors, said Vikram Kasat, Head Advisory, Prabhudas Lilladher.

After witnessing high volatility at the highs on Tuesday, Nifty witnessed choppy movement for mid part and sharp upsurge in the later part of Wednesday and closed the day higher by 83 points, says Nagaraj Shetti, Technical Research Analyst, HDFC Securities

According to the central bank's monthly bulletin, which was released on Monday, India's per capita income is currently estimated at $2,500, while it must be more than $21,664 by 2047, as per World Bank standards, to be classified as a high-income country.

Elon Musk-run SpaceX now controls 60 per cent share of the global launch business, as he aims to bring Starlink, which uses low-orbit satellites to provide broadband internet connections, to India.

The market traded in positive with the Sensex gaining 0.80 per cent to close at 66589.03, while Nifty was up by 0.75 per cent intraday and closed at 19,711.45 levels, its highest ever,  whereas Bank Nifty was up by 1.41 per cent to settle at 45449.75.

As tomatoes are still sold at a premium rate of Rs 160 per kg in many parts of the country, the government on Sunday said that it has decided to sell the vegetable at Rs 80 per kg from Sunday (July 16) onwards.

The valuations in China at a PE of 9 is hugely attractive now compared to valuations in India with a PE of around 20 and, therefore, the ‘Sell China, Buy India’ policy of FPIs cannot continue for long, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

A sharp rally in IT stocks powered the Sensex to close above the 66,000-mark for the first time ever on Friday. IT heavyweights led the rally as the BSE Sensex closed at 66,060, up 502 points.

India's wholesale price index (WPI) based inflation further fell to stand at -4.12 per cent in June, from -3.48 per cent in May, according to the commerce ministry data released on Friday.

A visit to the Ghazipur vegetable Mandi revealed a distressing reality that the wholesale market is experiencing up to a 66 per cent reduction in supply, resulting in retail prices skyrocketing up to four times the regular selling price.

Selling by domestic institutions is emerging as a countervailing force putting brakes on the rally -- this explains the resistance which Nifty is facing at 19,500, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

This is clear indication that the disinflation process is on in the US and might persuade the Fed to pause once again in the July 26 rate decision. This is an important positive global cue, he said.

The Indian space agency has decided to transfer the technology to more than one private player to make Small Satellite Launch Vehicle (SSLV) to interested parties and an Expression of Interest (EoI) has been issued for the same by the Indian National Space Promotion and Authorisation Centre (IN-SPACe).

In a filing with the Bombay Stock Exchange (BSE), CarTrade Tech said it will buy 100 per cent of Sobek's shares and is making the purchase "to provide synergistic benefits to the existing businesses of CarTrade Tech".

In a major setback to Prime Minister Narendra Modi's plans of making India a chip-manufacturing hub, Taiwanese chip-making giant Foxconn on Monday announced that it has withdrawn from a joint venture with India-based industrial giant Vedanta.

The Kal airlines, in a statement, said that it has come to its knowledge that a statement purportedly issued by the spokesperson of SpiceJet Ltd has been circulating among certain sections of the media that SpiceJet Ltd is in talks with Kalani Pvt. Ltd. for an amicable settlement.

Weak global cues and profit booking in domestic equities dragged the key indices down on Friday. Nifty opened lower and remained in negative territory throughout the session to close near the day’s low with a loss of 166 points (-0.8 per cent) at 19,332 levels.

The strengthening of the US dollar and the slight reduction in global recession concerns have resulted in a decline in gold prices, said an analyst with Geojit Financial Services.