The sentiment in Asian markets remained in check amid selling in chipmaker stocks, with Japan’s Nikkei 225 trading 4 per cent lower and the Hang Seng down over 1 per cent. Taiwan’s stock index was also down 4 per cent.
Selling in AI-related stocks also pulled the US stocks lower in overnight trade. The S&P 500 lost 0.50 per cent and the Nasdaq Composite 1.4 per cent.
The oil prices remained elevated, emerging as a fresh headwind for economies globally after a sharp pullback from recent highs at the end of June. The Middle East conflict and fears of the closure of the Strait of Hormuz drove crude oil prices 12 per cent higher for the week. In trade today, Brent crude futures were up 1.25 per cent at $85.28/bbl and WTI crude futures added 1.3 per cent to $79.98/bbl.
Stocks to watch today (Friday, July 17)
Earnings today: Reliance Industries, JSW Steel, Federal Bank, Oberoi Realty, Tata Tech, RBL Bank, Central Bank and Poonawalla Fincorp among top companies slated to post their April-June quarter results today.
Diamond Power Infra: The company has bagged a contract from Adani Energy Solutions Limited for the supply of AL59 Moose and AL59 Zebra conductors. The order is worth over Rs 185 crore.
PC Jeweller: The jewellery company’s board has approved a proposal to raise up to ₹1,000 crore through a qualified institutions placement (QIP).
Servotech Renewable: The solar company has secured an order from the UPSRLM, Department of Rural Development, Government of Uttar Pradesh for the installation of Hybrid Solar Rooftop System with Battery Energy Storage System across multiple locations in Uttar Pradesh.
Maruti Suzuki: A consumer court in Raipur has ordered Maruti Suzuki to replace a car after finding evidence of fuel contamination in the vehicle linked to E20 fuel.
