Asian stock markets are trading mixed today as China's sluggish economic recovery triggered growth forecast cuts and a warning from US Treasury Secretary Janet Yellen that it could cause ripple effects across the global economy.

The Nikkei is trading marginally higher, and the Hang Seng index is trading lower by 2.1%. While Shanghai composite was down 0.4%.

US stocks ended higher to kick off the trading week on Monday, buoyed by gains in financial and technology shares as investors awaited the next round of quarterly results this week as earnings season gathers speed.

The Dow Jones Industrial Average ended 0.2% higher, and the tech-heavy Nasdaq Composite ended up 1%.

Here's a table showing how US stocks performed on Monday:

Source: Equitymaster

Back home, Indian share markets are trading on a positive note following the trend on Gift Nifty.

At present, the BSE Sensex is trading higher by 220 points. Meanwhile, the NSE Nifty is trading up by 60 points.

Infosys and Axis Bank are among the top gainers today.

Titan Bharti Airtel on the other hand is among the top losers today.

Broader markets are trading on a positive note. Both the BSE Mid Cap and the BSE Small Cap index are trading marginally higher.

Sectoral indices are trading on a mixed note. Stocks in the consumer durable sector, metal sector, and realty sector witness selling.

On the other hand, stocks in the banking sector and power sector witnessed most of the buying.

Shares of P&G Hygiene and Laxmi Machine hit their 52-week high today.

The rupee is trading at Rs 82.07 against the US dollar.

In commodity markets, gold prices are trading higher by Rs 141 at Rs 59,276 per 10 grams today.

Meanwhile, silver prices are trading higher by 0.3% at Rs 75,801 per 1 kg.

Speaking of the current stock market scenario, amid the ongoing volatility, have a look at the two charts below, in the order they have been placed:

Near-Term Volatility in Sensex Compensated by Long-Term Gains

The year-on-year change in the Sensex was hardly predictable but someone who stayed invested multiplied every lakh nearly 14 times.

Timing the markets could be suicidal as valuations and volatility put the markets in a see-saw mode.

As an individual investor, you need to sit tight over high-conviction stocks and invest consistently to see the magic of compounding.
 

LTI Mindtree Q1 results

LTI Mindtree on 17 July declared a consolidated net profit of Rs 11.5 billion (bn) in the first quarter of the financial year 2023-24, which marks a jump of 4% as compared to 11.1 bn reported in the year-ago period.

The revenue from operations in Q1FY24 climbed by 14% on-year to Rs 87 bn, as per a regulatory filing. It was, however, marginally lower than market expectations.

The net profit clocked by the company, Rs 11.5 bn, is 3.6%.

The earnings before interest, tax depreciation, and amortization (EBITDA) came in at Rs 16.4 bn during the quarter under review, which is 9% higher as compared to the year-ago period. The EBITDA margins, however, dropped to 18.8% from 19.5% in Q1FY23.

In terms of industries, the IT company recorded the highest growth in the BFSI segment at 12 %, and a 1% growth in other key verticals such as hi-tech, entertainment, and media.

Geography-wise, the revenue growth was highest at 10% in the North American region, followed by 7% in Europe. For the rest of the world, the revenue declined by 2.6%.

LTIMindree recorded total deal wins worth US$ 1.41 bn in Q1FY24 and added 19 more clients during the three-month period to take the overall client count to 723.

Did you know LTI is one of the emerging blue chip stocks of 2023?
 

Maruti Suzuki adds pedestrian safety feature in Grand Vitara

Maruti Suzuki India on Monday said it has introduced a pedestrian safety vehicle alarm feature in the electric hybrid variants of its SUV Grand Vitara, which will push up prices by up to Rs 4,000.

The auto company announced the addition of an Acoustic Vehicle Alerting System or AVAS for the intelligent electric hybrid variants of the Grand Vitara.

This technology is designed to help keep drivers and pedestrians safe by alerting them about the presence of a vehicle.

The system works by emitting a low-level alert sound that can be heard up to five feet away, giving pedestrians and other nearby drivers a heads-up that a vehicle is nearby, it added. The addition of AVAS for pedestrian safety makes Grand Vitara compliant with upcoming regulations.

The price change in these variants of the Grand Vitara ranges up to Rs 4,000 (ex-showroom Delhi) effective from 17 July 2023.

The electric hybrid variants of the Grand Vitara have been priced at Rs 18.3 lakh and Rs 19.8lakh (ex-showroom Delhi).

Speaking of Maruti Suzuki, it is one of the 5 stocks declaring more than 1000% dividend in August 2023.

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