South Korean shares rose on Monday, led by chipmakers Samsung Electronics and SK Hynix, after a Wall Street rally and weaker U.S. jobs data eased concerns over near-term Federal Reserve rate hikes. The KOSPI gained 0.80%, though continued foreign selling limited gains. Investors also awaited overseas semiconductor and AI earnings for further market direction.
On Monday, Indian stock markets witnessed a flat start, bolstered by robust first-quarter earnings. While the Sensex remained mostly unchanged, the Nifty crossed the crucial 24,580 mark. Leading the gains were Titan and ICICI Bank, whereas NTPC and Bajaj Finance showed some declines. Analysts express cautious optimism, attributing this to strong domestic demand and foreign institutional investor activity. Market trends indicate a potential consolidation within a defined trading range.
Kaynes Technology shares tanked 8% after the electronics manufacturing services firm reported a 24.4% YoY decline in Q1 FY27 net profit to Rs 56.4 crore. Revenue, however, surged 40.5% to Rs 946 crore, while EBITDA rose 29.5% to Rs 147.5 crore. The EBITDA margin narrowed to 15.6% from 16.7%, reflecting pressure on profitability despite strong revenue growth.
Gold and silver prices traded mixed on the MCX, with silver extending gains while gold edged lower as investors booked profits after last week’s sharp rally. Focus shifted to upcoming US inflation data for cues on the Federal Reserve’s rate outlook. MCX silver futures rose Rs 2,134 to Rs 2,33,600 per kg, while gold fell Rs 360 to Rs 1,51,461 per 10 grams.
Delhivery shares fell 4% after the logistics company reported a 65% YoY decline in Q1 FY27 net profit to Rs 32 crore, despite a 28% rise in revenue. Nuvama retained its Buy rating but cut the target price to Rs 570.
The rupee has fallen eight paise to 95.25 versus the US dollar as of Monday, influenced by a strengthening dollar and surging global crude oil costs. Despite this, foreign institutional investor inflows and solid forex reserves have provided crucial backing. Exporters might take advantage of price rises, while importers are anticipated to purchase on the dips.
Japan’s Nikkei index recorded an upward trend thanks to strong performances in AI and semiconductor stocks. Companies like Advantest and Tokyo Electron saw notable increases, while Recruit Holdings enjoyed a boost after surpassing market expectations with revised projections. Nevertheless, concerns regarding the Middle East and forecasts from a battery materials producer restrained further growth. Investor caution prevailed amidst the Obon holidays and scarce market indicators.
Anawil Wire & Engineering is set to list on the NSE SME platform today, August 10, with a 21% grey market premium (GMP) signalling a strong debut. Its IPO was subscribed 149.13 times, led by NII demand at 233.36 times, followed by QIBs at 164.56 times and retail investors at 104.22 times.
Oil prices climbed Monday as Strait of Hormuz reopening remained uncertain. Iran stated a deal with Oman was nearing completion for new shipping lanes. Attacks on Saudi and UAE facilities heightened supply concerns over the weekend. Analysts predict significant price increases if disruptions continue for months. Oil is expected to cool as supply expands and demand moderates.
The IPO comprises a fresh issue of 1.61 crore equity shares worth Rs 1,400 crore, along with an Offer for Sale (OFS) of 1.91 crore shares aggregating to Rs 1,666.89 crore. Under the OFS, BC Asia Investments XV Ltd. will offload shares worth nearly Rs 1,395 crore, while Mangalam Capital Pvt. Ltd. will sell shares valued at around Rs 272 crore.
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