Stock Market News Today: From Fed policy decision to key Q1 results, including Tech Mahindra and TVS Motors, know what would drive market today

Amid the monthly expiry of the F&O market today, there are certain top stocks and developments that would drive the capital markets on Thursday. From US Fed’s policy decision to Important first quarter results of Tech Mahindra, TVS Motors and Colgate are key development to watch out for today. 

The US Federal Reserve kept its benchmark interest rate unchanged at the record-low level of near zero per cent, the US markets in this regard reported a mixed show as Dow Jones declined by 125 points, while Nasdaq grew by 10 points on Wednesday. 

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SGX Nifty indicates a positive opening for Indian markets, as the Index surges marginally at above 15,750 levels intraday, while Dow Futures is trading flat. 

Similarly, Brent crude trading near $75 per barrel, as US reserves decline. Moreover, Fed policy also impacts the precious metals, as Gold up with minor gains, near $1810 and even silver strengthens to trade above $25 level. 

With a marginal gain in profit of 11 per cent, Nestle reported lower than expected first-quarter results, while in the mid and small-cap category Mahanagar Gas and United Breweries result beat estimates. 

Nifty heavyweight Tech Mahindra earnings are expected today, as well as other important companies such as TV Motors, Colgate, ConCor, LIC Housing and among others to also report their Q1 numbers. 

Tatva Chintan Pharma to start its stock market journey from today, the IPO price is at Rs 1083 per share and it was oversubscribed by 108 times in the three days from 16-20 July 2021. 

While Rolex Rings IPO on the first day was oversubscribed 4 times, the IPO was opened from July 28 and will be open till July 30, 2021, with a price band of Rs 880-900 per share. Zee Business Managing Editor has suggested to subscribe to the listing gains ahead of IPO open. 

It’s the last day to subscribe for Glenmark Life Sciences, it was oversubscribed by around 6 times in two days. Singhvi had suggested to subscribe for long-term gains. 

Zee Business exclusive story got confirmed as the Union Cabinet on Wednesday approved DICGC Bill, wherein bank depositors saving will be no insured, as they would get Rs 5 lakh within 90 days of a bank being under moratorium.