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Stock Market Highlights: Sensex jumps 397 points, Nifty ends above 15,800 led by banks, financials

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Stock Market Highlights: Indian equity indices, Sensex and Nifty ended higher Tuesday led by banking and financial stocks amid positive global cues. Broader markets, smallcap and midcap indices supported the rally. Among sectors, banks, financial services, metals, auto and pharma indices gained, while Nifty IT and Nifty FMCG ended in the red.

Stock Market Highlights: Sensex jumps 397 points, Nifty ends above 15,800 led by banks, financials
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  • Ajit Mishra, VP - Research, Religare Broking

    Markets traded upbeat and gained over half a percent, tracking favourable global cues. After the gap-up start, it hovered in a narrow range in the first half and inched marginally higher as the day progressed. Global cues are upbeat however support from the banking pack is critical for any sustainable up move in the Nifty index. Besides, participants will also be eyeing the results of the IT major, Infosys Ltd, scheduled on Wednesday i.e. July 14. Amid all, we feel it’s prudent to maintain focus on the selection of stocks and managing overnight risk until we see the resumption of the uptrend.

  • Nagaraj Shetti, Technical Research Analyst, HDFC Securities

    The short term trend of Nifty continues to be positive with range bound action. One may expect further upside towards 15,900-15,915 levels in the short term before showing the next round of consolidation. The emergence of strength at the hurdle could only open a sharp upside breakout of the resistance in the short term. Immediate support is placed at 15,710 levels.

  • Sumeet Bagadia, Executive Director, Choice Broking

    The Nifty index has formed a bullish candle on a daily chart which suggests buyers are active. Moreover, the stochastic & MACD has indicated a positive crossover on an hourly chart which adds bullish momentum in the index. Furthermore, the index has moved above the 21&50 HMA, which suggests an upside rally in upcoming sessions. At present, the nifty seems to have resistance at 15,915, crossing above the same can show 16,100-16,200 levels while immediate support comes at 15,700.

  • Here are key stocks that moved the most on July 13
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    Stock Market Highlights: Sensex jumps 397 points, Nifty ends above 15,800 led by banks, financials
  • Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities

    In the contrast to Monday’s trade, Nifty sustained today after the initial round of profit-taking and quickly reversed back to 15,800 levels, which is an ultimate resistance for the market. Purely under the leadership of financials stocks, the market has managed to close above the levels of 15,800. It’s a bullish continuation pattern and with the help of it, the Nifty would again hit the tall wall of 15,900-15,930. On a daily basis, 10 and 20 days SMA offer significant support to the short-term trend of the market that would act as the final stop loss for holding any long positions. For Wednesday, 15,900-15,930 would be major hurdles on the Nifty and supports would be at 15,730 and 15700 levels. Keep a strategy of buying on dips.

  • Rupee At Close | The Indian rupee closed 9 paise higher at 74.49 against the US dollar on the back of gains in the domestic equities. The local unit opened at 74.49 against the previous close of 74.58 and traded in the range of 74.41-74.50 during the session.

  • Mohit Nigam, Head, PMS - Hem Securities

    Benchmark Indices closed on a positive note after favorable economic outcomes and positive sentiments from Asian markets. Immediate support and resistance for Nifty50 are 15,600 and 15,900 respectively. Overall we are bullish on markets and believe that any significant dip is a good opportunity to buy in quality stocks.

  • Manish Shah, Founder, Niftytriggers.com

    Nifty needs a massive push above 15,900-15,950 and once this happens we should see a rally towards 16,200-16,300 in a double-quick time. The zone at 15,900-15,950 has been tested three times, and the rule is that the fourth time the price should go through. International equity markets, especially, Asian markets are seeing recovery and among the peer group, Nifty remains an outperformer. If the revival in Asian markets continues and the current upswing in European equity persists; then Nifty should be on a roll. Now traders should watch how Nifty behaves at the crucial 15,900-15,950 zone. Odds of an upside breakout are higher.

  • Market At Close | Market Breadth Favours Advances with advance-Decline Ratio At 1:1

  • Market At Close | 36 Nifty Stocks Close In The Green; ICICI, HDFC, Grasim, Axis, Sun Top Gainers

  • Market At Close | Market Closes With Healthy Gains, Led By Financials

  • Market At Close | Here are the highlights of today’s trading session

    - Market Closes With Healthy Gains, Led By Financials

    - Sensex & Nifty Gain Nearly 1% Each, Nifty Bank Up Over 1%

    - Nifty Gains 120 Points To 15,812 & Sensex 397 Points To 52,770

    - Nifty Bank Moves 475 Points Higher To 35,673 Led By ICICI, HDFC Bank & Axis

    - Nifty Midcap Index Continues To Post Record Close, Up 57 Points To 27,561

    - ICICI Bank Is The Biggest Contributor To Nifty & Nifty Bank’s Gains

    - 36 Nifty Stocks Close In The Green; ICICI, HDFC, Grasim, Axis, Sun Top Gainers

    - IT Under Pressure Ahead Of Quarterly Earnings; HCL Tech Top Loser

    - Info Edge Slips Over 4% Ahead Of Zomato’s IPO launch Tomorrow

    - Retail Stocks Like AB Fashion & Trent Amongst Top Midcap Gainers

    - Tyre Stocks Rise With MRF Gaining Nearly 4% & Apollo Tyres Over 2%

    - NMDC Rises On Board Approval For Demerger Of The Steel Business

    - Market Breadth Favours Advances with advance-Decline Ratio At 1:1

  • Closing Bell | The Indian equity benchmark indices ended higher Tuesday led by banking and financial stocks amid positive global cues. The Sensex gained 397.04 points, or 0.76 percent, to 52,769.73, while the Nifty ended 119.75 points, or 0.76 percent, higher at 15,812.35. Broader markets, smallcap and midcap indices supported the rally, ending 1.03 percent and 0.21 percent higher, respectively.

    Among sectors, banks, financial services, metals, auto and pharma indices gained, while Nifty IT and Nifty FMCG ended in the red. ICICI Bank, Grasim Industries, HDFC, Axis Bank and SBI Life were the top Nifty50 gainers while Adani Ports & SEZ, Dr Reddy’s Laboratories, HCL Technologies, Tata Consumer Products and Tech Mahindra led the losses.

  • Prabhudas Lilladher cuts Nifty's March 2022 target to 15,909; advises investors to use dip as entry point
    Prabhudas Lilladher stated that markets are driven by hopes of structural economic recovery and high levels of global liquidity and advised investors that any correction due to the third wave of COVID…
    Stock Market Highlights: Sensex jumps 397 points, Nifty ends above 15,800 led by banks, financials
  • Market Watch: Mehraboon J Irani, Market Expert

    Zomato IPO | Looking at the hype which is created around the IPO, I feel the subscription should be good enough and it would sail through. It should command a premium and give listing gains, but then keep your fingers crossed. I think Zomato IPO is quite expensive and I don’t see it sustaining itself at a higher prices, maybe a month, month and a half down the line after the issue is listed.

    Real Estate | Quite a few fillip has been provided, the recovery has been evident in this space and number of residential projects which the companies are going in for so I would rate Godrej Properties separate from others. DLF would come at a close number two and there would be other names like Oberoi Realty, I think these three would possibly fit the investment parameters from my side.

  • NMDC | The company's board has approved its demerger with NMDC Steel.

  • Inflation may remain sticky at current levels; expect some respite for bond market: Experts
    With the June retail inflation or Consumer Price Index (CPI) coming in at 6.26 percent, marginally lower than the 6.3 percent recorded in May, there is an overall sense of relief. To shed more light…
    Stock Market Highlights: Sensex jumps 397 points, Nifty ends above 15,800 led by banks, financials
  • Steel Strips expects to reduce debt by Rs 200 crore this fiscal; dividend by year-end

    Automotive wheels manufacturer and designer Steel Strips Wheels delivered a good set of numbers in the first quarter, albeit on a low base with operational performance seeing a sequential improvement. The year-on-year revenue was up at Rs 678 crore versus Rs 120 crore and EBITDA was at Rs 98 crore Rs 2 crore. Margins were up at 14 percent versus 2 percent year on year and the reported net profit was Rs 51 crore versus a loss of Rs 38 crore, in the same period. To give us the fine print and the outlook going forward - we are now joined by - Dheeraj Garg, the managing director of the company. The debt for the company stands around Rs 850 crore and Garg said that the target is to reduce by around Rs 200 crore this year. Read here.

  • Consumer durables, autos richly valued; bullish on cement: Sundaram MF

    The valuations of consumer durables and the auto sector is rich, which there is immense value in the cement sector led by its secular structural story, believes Sunil Subramaniam, MD & CEO of Sundaram Mutual Fund. Speaking in an interview with CNBC-TV18, he said, “Consumer durables and autos are where the valuations are on the healthier or richer side. The value is in the Indian old economy stuff and in the services area where the new economy initial public offerings (IPOs) are coming.” Read here.

  • Himanshu Nayyar, Lead Analyst – Institutional Equities, Yes Securities

    Zomato IPO is expected to generate lot of interest given the company uniqueness, large opportunity size and some evidence of scale economies, but the valuations look really expensive on conventional parameters at 25x FY21 EV/sales vs 10x for global peers and 12x for Indian QSRs, with the path to profitability also unclear. While the current frenzy should deliver some listing gains, we would await more clarity on capital allocation plans, competitive activity and unit economics over the next few quarters to provide a more nuanced fundamental view on the company. Out of Rs 93.8 bln IPO proceeds, Rs 90bln will come to the company out of which Rs 67.5 bln will be utilized for organic and inorganic growth initiatives. Key risks going forward would be emerging competition from well-funded groups and NRAI, losses from new investments and diversification initiatives. 

  • Lupin | The company has launched Tavaborole Topical Solution in the US. Tavaborole Topical Solution is used to treat fungal toenail infections. Tavaborole Topical Solution has an estimated annual sales of $53 million in the US. The drug will be manufactured at Lupin’s facility in Pithampur, India.

  • Zomato IPO: Loss-making Unicorn’s valuation at premium to global peers
    Zomato IPO has already generated a lot of interest among retail investors given the company’s uniqueness, but concerns prevail over its valuations as the company is still “loss-making” and has no…
    Stock Market Highlights: Sensex jumps 397 points, Nifty ends above 15,800 led by banks, financials
  • CNBC-TV18 Exclusive: LIC Housing, Barbeque Nation under SEBI lens on preferential issue proposals

    The PNB Housing Finance’s preferential allotment to Carlyle and related buzz around it has put a spotlight on other companies planning for similar issues. CNBC-TV18 has learned that the Securities and Exchange Board of India has asked exchanges to examine preferential issue proposals of LIC Housing Finance and Barbeque Nation. The market regulator has initiated a preliminary inquiry on the preferential issue from LIC Housing Finance and Barbeque Nation, asking the exchanges to examine the issues from both these firms. It is understood that exchanges likely have issued an examination notice to both these companies with respect to the valuation of the preferential issue. Read here.

  • Ceat partners with Tata Power to set up captive solar plant for Mumbai facility

    Ceat has tied up with Tata Power to establish a 10MW captive solar plant at the latter's Solapur site for powering its tyre manufacturing facility in Bhandup (Mumbai). Tata Power has created a special purpose vehicle (SPV) -- TP Akkalkot Renewable Ltd -- which will be responsible for undertaking the construction, operation and maintenance of this captive solar power plant.

  • BSE Smallcap index hits an all-time high of 26,263. Here are the top gainers

    Stock Market Highlights: Sensex jumps 397 points, Nifty ends above 15,800 led by banks, financials
  • Electricity demand growth estimated at 6.0% and generation capacity addition estimated at 17-18 GW for FY2022

  • OPEC+ yet to make progress in resolving impasse, sources say

    OPEC+ is yet to make progress closing divisions between Saudi Arabia and the United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting this week less likely, OPEC+ sources told Reuters. Russia has been working behind the scenes to bring Riyadh and Abu Dhabi back to the table to find a path to agreement, sources added. But a Russian source said on Monday a meeting this week was not expected. A dispute between the two Gulf OPEC allies was exposed last week, scuppering for now a deal that would have boosted output from August. Oil prices, already near their highest since 2018 due to a tightening market, rose further on the lack of a deal. The spat forced the Organization of the Petroleum Exporting Countries, Russia and other producers, known as OPEC+, to abandon talks on boosting production after days of negotiations.

  • June CPI inflation slightly lower, but risks remain: Kaushik Das, Director & Chief Economist - India, Deutsche Bank Research

    June CPI print will help RBI to maintain the "transitory hump" narrative for now, and accommodative monetary stance in August, but we think time has come for the MPC to start according a higher weight to inflation risks for informing their future course of action beyond August. June CPI inflation came at 6.26 percent, lower than our and Bloomberg consensus estimate of 6.56 percent and 6.59 percent respectively. The May CPI print remained unchanged at 6.30 percent, but we note that core inflation (RBI definition: CPI ex food, fuel, tobacco/intoxicants) for the month of May was revised down to 6.17 percent yoy (+1.3% mom), from 6.30 percent yoy (+1.4%mom) reported earlier. With respect to the revised May core CPI outturn, June core CPI inflation came at 6.30 percent (+0.2%mom), lower than our expectation of 6.6 percent yoy (+0.4%mom). The slightly lower-than-anticipated June CPI print will provide some relief that things have not worsened further, but it will not change the narrative of a range shift in CPI inflation that has occurred with the sticker shock in May.

Stock Market Highlights: Indian equity indices, Sensex and Nifty ended higher Tuesday led by banking and financial stocks amid positive global cues. Broader markets, smallcap and midcap indices supported the rally. Among sectors, banks, financial services, metals, auto and pharma indices gained, while Nifty IT and Nifty FMCG ended in the red.