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July 08, 2021 / 03:48 PM IST

Closing Bell: Nifty ends below 15,750, Sensex falls 485 pts; bank, metal, pharma drag

All the sectoral indices ended in the red. BSE midcap index fell 0.3 percent, while smallcap ended flat.

  • IndexPricesChangeChange%
    Sensex59,015.89-125.27 -0.21%
    Nifty 5017,585.15-44.35 -0.25%
    Nifty Bank37,811.95143.35 +0.38%
    Nifty 50 17,585.15 -44.35 (-0.25%)
    Fri, Sep 17, 2021
    Biggest GainerPricesChangeChange%
    Kotak Mahindra2,007.95101.15 +5.30%
    Biggest LoserPricesChangeChange%
    Tata Steel1,385.90-50.85 -3.54%
    Best SectorPricesChangeChange%
    Nifty Bank37811.95143.35 +0.38%
    Worst SectorPricesChangeChange%
    Nifty PSU Bank2466.60-75.35 -2.96%


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  • July 08, 2021 / 04:19 PM IST

    Shrikant Chouhan, Executive Vice President, Equity Technical Research a t Kotak Securities

    Technically, on intraday charts the index has formed lower top formation which indicates further weakness from the current level. For the next few trading sessions, 15780/ 52750 could act as important resistance levels for the traders and below the same, correction wave could continue up to 15635-15600/52200-52000 levels. On the other hand, the immediate hurdle would be 15780/ 52750, and trading above the same we can expect continuation of uptrend up to 15830-15860/ 53000-53150 levels.

  • July 08, 2021 / 04:10 PM IST

    Ajit Mishra, VP - Research, Religare Broking:
     
    Markets would first react to TCS numbers in early trade on Friday and that might set the tone for the result of the session as well. Further, demand scenario and management commentary will be crucial factors to watch in Q1FY22 results. We suggest keeping a check on naked leveraged positions and wait for clarity. Investors, on the other hand, should not read much into the intermediate correction and continue with the “buy on dips” approach in fundamentally sound counters with a long term view.

  • July 08, 2021 / 03:48 PM IST

    Rupee Close: 

    Indian rupee ended 10 paise lower at 74.71 per dollar, amid selling saw in the domestic equity market. It opened 20 paise lower at 74.81 per dollar against previous close of 74.61 and traded between 74.65-74.84.

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  • July 08, 2021 / 03:45 PM IST

    Lakshmi Iyer, CIO (Debt) & Head Products, Kotak Mahindra Asset Management Company:

    June month saw flattish net sales in Fixed income - it being a month end and quarter end too. FMP a category continued to net sales negative as investors seem to adopt a wait and watch approach before locking in funds. Gold ETFs continued to add net positive AUMs month on month and witnessed a steady rise in folios too. Hybrid funds saw the highest net sales in June at over Rs 12,000 crore compared to April and May for Q1 of FY 22.

  • July 08, 2021 / 03:34 PM IST

    Market Close: Benchmark indices erased previous session gains and ended nearly a percent lower dragged by the bank, metal and pharma names.

    At close, the Sensex was down 485.82 points or 0.92% at 52568.94, and the Nifty was down 151.80 points or 0.96% at 15727.90. About 1277 shares have advanced, 1648 shares declined, and 112 shares are unchanged.

    Tata Motors, JSW Steel, Bajaj Auto, Hindalco Industries and ONGC were among the top lower on the Nifty. Top gainers were Tech Mahindra, SBI Life Insurance, Eicher Motors, IndusInd Bank and Shree Cements.

    All the sectoral indices ended in the red. BSE midcap index fell 0.3 percent, while smallcap ended flat.

  • July 08, 2021 / 03:27 PM IST

    Gold Updates:

    Gold prices reversed course to trade higher on Thursday as the U.S. dollar eased and yields extended their downward momentum, making non-yielding bullion more appealing to investors.

  • July 08, 2021 / 03:22 PM IST

    Yash Gupta Equity Research Associate, Angel Broking:

    Real-estate stock gaining momentum on the back of better than expected pre-sales for Q1FY22.
     
    Today, S&P BSE REALTY hits a high of 2890 and now is trading near the 52 weeks high of 2909.9 which was made in March 2021. We have seen some good numbers from Sobha Limited yesterday which were better than the market expectation. The company reported pre-sales growth of 40%.
     
    We have seen a very good 2nd half of FY21 after the sector was adversely hit by the pandemic in 2020. Several companies reported their all-time high results in Q4FY21 on the back of some effects of pent-up demand. It was expected that the demand for 2022 will strengthen this year whereas the ready to move inventory levels have hit 7 years low in Q1FY22, as customer preference has been changed to the ready property rather than the under-construction properties. We expect Residential real-estate to do well in the financial year 2022 as some early signs of the organized sector gaining the market share are encouraging. We have a buy call on Godrej property with a target price of 1700.

  • July 08, 2021 / 03:17 PM IST

    Nifty Bank index fell 1 percent dragged by the RBL Bank, SBI, Bandhan Bank, ICICI Bank:

     Nifty Bank index fell 1 percent dragged by the RBL Bank, SBI, Bandhan Bank, ICICI Bank:
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  • July 08, 2021 / 03:14 PM IST

    Ashis Biswas, Head of Technical Research at CapitalVia Global Research:

    The market witnessed a correction after a failed attempt to hold the support level around the Nifty 50 Index level of 15800. Market suggests, 15650 will be an important support level from a short-term perspective. Sustaining above 15650-15670 levels, the market expects to bounce back, and trade in the range of 15650-15900. Technical indicator suggests, a volatile movement in the market in the range of 15650-15900.

  • July 08, 2021 / 03:11 PM IST

    BSE Auto index slipped 1 percent dragged by the Tata Motors, Bosch, Motherson Sumi:

     BSE Auto index slipped 1 percent dragged by the Tata Motors, Bosch, Motherson Sumi:
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