HIGH STREET RETAIL
TCS shares surge 7% on strong Q1 show, lifting D-Street to fresh record highs
TCS Share Price: Shares of TCS surged 6% to Rs 4,169 in early NSE trading after reporting higher-than-expected earnings for the June quarter. Jefferies upgraded TCS and raised its price target, while CLSA and JPMorgan maintained ratings with higher targets. Domestic analyst Nuvama also increased its target price.
TCS, Infy power D-Street to fresh record highs! Sensex soars 900 points, Nifty tops 24,500 for the first time
Indian markets rose Friday, led by TCS's strong June quarter. Sensex climbed 281 points, Nifty50 up 93 points. Stocks like TCS, Infosys, and Adani Ports surged. Maruti fell. US inflation data raised September Fed rate cut chances, noted by CME FedWatch. RBI's Das predicted 5% retail inflation. Powell's testimony hinted at possible rate cuts.
Japan's Nikkei crosses 42,000 points as Wall Street rally spurs sentiment
Japan's Nikkei and Topix surged as Wall Street's Nasdaq and S&P 500 hit records. Nikkei reached 42,179.84, driven by yen depreciation and semiconductor shares like Taiwan Semiconductor Manufacturing Co. Gains in Fast Retailing, Socionext, Sumco, Sony Group, Tokyo Electron, Disco Corp. Kenji Abe from Daiwa Securities expects further price increases amid strong Japanese corporate earnings.
Bengaluru’s retail stock to touch 20-30 million sq. ft. by 2030
By June 2024, Bengaluru's retail stock reaches 16 million sq. ft., second in India, with 67.6 million sq. ft. nationally. Expected to grow to 20-30 million sq. ft. by 2030, driven by malls, brand awareness, incomes, entertainment, and fashion. Karnataka's economic role noted by Anshuman Magazine. Bengaluru leads in Retail REIT malls. Ram Chandnani predicts regional success with the Beyond Bengaluru program, international brands, optimised space allocation, and personalised services.
Retailers focusing on main streets for new store opening
According to Cushman & Wakefield, the continued dominance of main street retail leasing is owing to limited new mall openings and a strong demand for high-quality retail spaces.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Indian equities surge with Nifty crossing 24300 and Sensex breaching 80000. Tech view sets 24900 as the next target. Dollar weakens, oil prices fall, and rupee settles lower. FII net long increases to Rs 3.78 lakh crore. DIIs buy shares worth Rs 924 crore.
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S&P 500, Nasdaq scale record highs as Nvidia lengthens its lead
Nvidia's surge propelled it past Microsoft to become the world's most valuable company, driving both the S&P 500 and Nasdaq to record highs. Shares of Dell and Super Micro rose 1.0% and 6.3%, respectively. At 11:59 a.m. ET, the Dow Jones Industrial Average was up 86.87 points, or 0.22%, at 38,921.73.
Budget 2024: D-Street captains urge FM Sitharaman to hike STT charges on high frequency traders
Every sale and purchase of equities listed on exchanges incurs a Securities Transaction Tax. The STT rate is 0.017% on options sales and 0.01% on futures sales. Additionally, a proposal to discourage retail investors from trading futures and options by imposing an additional tax was reportedly not discussed, according to ETNow sources.
Dow, S&P 500 edge higher after soft retail sales data; eyes on Fed speakers
Data showed US retail sales rose 0.1% in May, against 0.3% increase expected by economists polled by Reuters. Markets marginally hiked bets on two interest rate cuts from the Fed this year following the data, according to LSEG's FedWatch, clashing with the most recent projections from policymakers showing they broadly expect just one interest rate cut this year.
Wall Street Week Ahead: Retail stocks search for direction as rates stay high
Elevated U.S. interest rates are impacting the U.S. retail sector, with some stocks soaring while others struggle. The S&P 500 Consumer Discretionary index is up 14%, driven by select stocks, like , which is up 21%. However, lower-income focused companies, like Dollar Tree and Dollar General, have faced declines.
US stocks close slightly lower; jobs data strong but rates still high
Wall Street stocks ended slightly lower on Friday after strong U.S. jobs data raised concerns about the Federal Reserve's stance on interest rates. The Labor Department reported 272,000 jobs in May, exceeding expectations, with a 4% unemployment rate.
Modi wave on D-Street! Investors add Rs 12 lakh crore as Sensex skyrockets 2,600 pts to record high
Indian benchmark equity indices Nifty 50 and BSE Sensex hit record highs as exit polls predict a third term for PM Modi, boosting investor optimism for infrastructure and manufacturing investments.
FPIs may cut bearish bets, releasing bulls on D-Street today
Foreign portfolio investors (FPIs) hold record bearish positions in index futures - mainly the Nifty - pegged at $2.8 billion, or ₹23,400 crore, in terms of contract value, according to Nuvama Research data.
'Afternoon economy' cools as heat keeps customers indoors
Heatwave conditions, particularly in the North, are significantly impacting the 'afternoon economy,' affecting sales and footfalls between 12 noon and 4 pm. The scorching temperatures are leading to a decline in the availability of delivery riders, pushcart vendors, and sales workers. Businesses are experiencing disruptions in routine deliveries and working hours, prompting changes in operating hours and strategies to cope with the heat. While business activity is dampened in the afternoon, there is some compensation during the evening as people prefer to stay indoors and order in.
Indya and FabAlley's parent co raises Rs 50 crore from investors led by Sangita Jindal
High Street Essentials (HSE), the parent company of women’s fashion brands Indya and FabAlley, secures Rs 50 crore in funding led by Sangita Jindal of JSW Foundation. This investment will fuel Indya's expansion in the occasion wear and wedding market, leveraging strategic designer collaborations and global expansion plans. The company aims to open 10 new wedding stores this year and expand its international retail presence.
Bearish trades crater fast in Wall Street’s high-momentum rally
Traders are betting against the tech-heavy Nasdaq 100 index, investing heavily in bearish exchange-traded funds (ETFs). However, their bets have not paid off as the index continues to rise, causing these bearish ETFs to plunge. One example is a bearish ETF that has dropped 20% in a month after receiving $500 million in investments at the start of the month. This situation highlights the risks involved in betting against a strong market trend.
High-speed traders pile into big short on volatility in India
While the high-speed traders sell options, long-only funds and retail investors buy contracts to make speculative bets or protect themselves against sudden market drops and are often on the other side of the trade, the people said.
Japan's Nikkei stumbles as Nvidia earnings results loom
Japan's Nikkei share average fell 0.85% to 38,617.10 as investors awaited Nvidia's earnings, which will influence global stocks, including Wall Street and AI-related stocks. Chip stocks like Tokyo Electron and Advantest declined ahead of the results. The index previously hit a record intraday high and saw declines in Fast Retailing and Shin-Etsu Chemical.
Japan's Nikkei retakes 39,000 level for first time since mid-April
A milder inflation report last week has investors once again pricing in U.S. rate cuts as early as September, buoying global market sentiment and in turn boosting Japanese equities
Dollar sags as slower US inflation boosts rate cut expectations
Stocks and other risk-sensitive assets such as the Australian dollar led gains in the wake of the data release. The Aussie rose 1% overnight in its sharpest one-day jump for the year, and tacked on a further 0.1% in early Asia trade to hit a four-month high of $0.67.
Wall Street boasts record closes as inflation data fuels rate-cut bets
Tepid U.S. Consumer Price Index (CPI) data for April fueled optimism that inflation was easing after three months of higher-than-expected numbers. This led traders to raise bets that the Fed will cut its policy rate in September and December.
S&P 500, Nasdaq at record highs as lukewarm inflation fuels rate-cut bets
The blue-chip Dow was set to breach the 40,000 mark for the first time, while the two other major indexes surpassed all-time peaks hit in March. Tepid U.S. consumer prices data for April led traders to raise bets that the Fed will cut its policy rate in September and again in December.
Huawei flagship store surge in China signals showdown with Apple
Huawei aggressively revamps retail strategy with flagship stores near Apple shops in China, aiming to reclaim premium electronics market share. New stores, including one opposite Apple's Shanghai flagship, boast expansive layouts and diverse amenities. Huawei rebounds from U.S. sanctions, aggressively recruits distributors, challenges Apple's dominance in China with premium products.
GameStop hits 2021 high as return of 'Roaring Kitty' rekindles meme stock mania
Trading in GameStop was halted multiple times within minutes of market open due to volatility as the stock hit its highest level since June 2021. The stocks were set to extend gains from the previous session after Gill shared a meme and more than 10 clips from movies, including "X-Men Origins: Wolverine", "The Avengers" and 1993 Western "Tombstone"
GameStop and AMC surge evokes 2021 meme stocks saga
"Roaring Kitty", the social media persona of Keith Gill, credited with setting off the so-called Reddit rally in January 2021 with his bullish calls on GameStop, posted on social media platform X, formerly Twitter, after nearly three years.
US stocks near record highs with inflation prints in focus
Of the 459 S&P 500 companies that reported through Friday, 77.3% beat analysts' profit estimates, according to LSEG data. The long-term average is 66.7%. At 11:24 a.m. the Dow Jones Industrial Average rose 47.17 points, or 0.12%, to 39,560.01, the S&P 500 gained 2.90 points, or 0.06%, to 5,225.58 and the Nasdaq Composite gained 42.66 points, or 0.26%, to 16,383.53.
Behind ghost shopping malls, a new consumer trend glimmers
Ghost shopping malls with a vacancy rate of 40% or higher in 2023 are on the rise, with a 59% year-on-year increase in top 8 metros, resulting in 13.3 million sqft of retail space remaining vacant. The loss in value amounts to $800 million. High-grade malls are thriving due to premiumisation and a focus on consumer experience, leading to larger store sizes and better shopping experiences. New factory outlet malls are also set to surge in India.
Bhumika group to develop 3 lakh sq ft of retail space with government
Bhumika Group, Rajasthan's largest mall developer, expanding retail spaces in NCR. Urban Square Mall in Udaipur fully occupied with top brands. Second phase launch imminent, reflecting strong industry credibility and financial stability.
Ghost shopping centers’ space in top 8 Indian cities surge 59% to 13.3 million sq ft
The number of such centers have risen to 64 by the end of 2023 from over 57 the previous year. Consequently, Knight Frank India estimates a loss of value amounting to Rs 6,700 crore in 2023.
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