Taking Stock | Market Ends Higher Amid Positive Global Cues; Mid & Small-caps Underperform
Indian equity benchmarks rose in line with major global peers as better-than-expected Chinese export data boosted sentiment.... Read More
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 82,029.98 | -297.07 | -0.36% |
| Nifty 50 | 25,145.50 | -81.85 | -0.32% |
| Nifty Bank | 56,496.45 | -128.55 | -0.23% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Max Healthcare | 1,161.50 | 18.20 | +1.59% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Tata Motors | 395.45 | -4.55 | -1.14% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Auto | 26640.50 | -57.70 | -0.22% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty PSU Bank | 7596.50 | -117.45 | -1.52% |
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.
Following favourable economic outcomes and positive Asian markets, domestic bourses traded positive today. Asian shares sparked a rally after better-than-expected Chinese economic data and a bounce back in Chinese tech stocks. Though June CPI inflation continued to remain above RBI’s tolerance level, it eased to 6.26 percent from 6.30 percent in the previous month giving some relief to the market. Industrial production (IIP) for May grew 29.3 percent year-on-year (YoY), essentially due to a lower base.
The BSE Sensex closed 397 points, or 0.76 percent, higher at 52,769.73 while the Nifty ended with a gain of 120 points, or 0.76 percent, at 15,812.35.
BSE Midcap index closed 2 points higher at 22,906.58 while the smallcap index settled 120 points, or 0.46 percent, up at 26,188.45.
Among the sectors, barring IT, teck and FMCG, all ended in the green, with banking and financial indices rising over a percent each.
Shares of Info Edge (India) fell almost 5 percent in intraday trade on BSE on July 13 a day ahead of the Zomato IPO's opening for public subscription.
Info Edge holds a stake of about 18.55 percent in the food delivery platform.
Zomato's Rs 9,375-crore public offer comprises fresh issuance of equity shares of Rs 9,000 crore, and an offer for sale of Rs 375 crore by existing selling shareholder Info Edge.
The offer will open for subscription on July 14 and the bidding will close on July 16.
While the equity benchmark the Sensex is up with gains of about a percent, the BSE Midcap index fell in the red. At 1450 hours, the BSE Midcap index was0.06 percent down at 22,889 while theSensex was 0.71 percent up at 52,742.
Neeraj Arora, the former executive of Facebook-owned Whatsapp, has been appointed as an additional director to the board of IPO-bound One 97 Communications that owns and operates online payments firm Paytm, according to the registrar of companies filings accessed by Moneycontrol.
The company, on July 12, received approval from its shareholders at an extraordinary general meeting to raise Rs 12,000 crore through a fresh issue of shares, paving way for one of India's largest initial public offerings (IPO) in recent times. Paytm will be filing its Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) shortly, the first step towards a public listing.
: Crude oil prices traded higher with benchmark NYMEX WTI crude oil prices rose by 0.69% to $74.61 per barrel for the day. MCX Crude oil July futures rallied by more than 1% near Rs 5,560 by noon.
Crude oil prices are expected to trade up for the day with resistance at $76 and support at $73 per barrel. MCX Crude oil July has support at Rs 5,480 and resistance at Rs 5,620.
Lupin 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. The stock was trading at Rs 1,164.10, up Rs 11.95, or 1.04 percent.
Tyre maker Ceat on Tuesday said it 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, Ceat said in a release.
