Stock Market Today: GIFT Nifty indicates a bearish start; Asian Paints, LTIMindtree in focus

Stock Market Today: With the GIFT Nifty down 42.50 points at 24,663, it appeared both the BSE Sensex and NSE Nifty 50 domestic indices were off to a bad start today. Investors in foreign exchanges (FIIs) purchased shares valued at Rs 1,271.45 crore. On July 16, 2024, however, domestic institutional investors (DII) sold shares with a net worth of Rs. 529.48 crore, based on preliminary NSE data. On Thursday morning, the price of WTI crude was up 0.55% to $83.30, and the price of Brent crude was up 0.31% to $85.35.

Stock Market Today: Stocks in focus

LTIMindtree

An international provider of information technology services and consultancy, LTIMindtree Limited is based in India.With almost 81,000 employees, the company—a subsidiary of Larsen & Toubro—was founded in 1996. Lower profit margins were the primary cause of LTIMindtree's 1.5% drop in net profit to Rs 1,135 crore for the June quarter.

Asian Paints

Asian Paints Ltd. is an international paint company based in India that manufactures, markets, and distributes paints, coatings, home decor items, bathroom fixtures, and related services. Asian Paints posted first-quarter earnings on Wednesday that fell short of projections due to a lacklustre market and price reductions made to fend off fierce competition.

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