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July 01, 2022 / 04:22 PM IST

Closing Bell: Market erases losses to end marginally lower; FMCG, realty gain, oil & gas drag

Among sectors, Realty and FMCG indices up 1-2 percent, while oil & gas index shed 3 percent.

  • IndexPricesChangeChange%
    Sensex56,409.96-188.32 -0.33%
    Nifty 5016,818.10-40.50 -0.24%
    Nifty Bank37,647.75-112.10 -0.30%
    Nifty 50 16,818.10 -40.50 (-0.24%)
    Thu, Sep 29, 2022
    Biggest GainerPricesChangeChange%
    ONGC126.654.10 +3.35%
    Biggest LoserPricesChangeChange%
    Asian Paints3,384.80-185.85 -5.20%
    Best SectorPricesChangeChange%
    Nifty Pharma12874.30168.90 +1.33%
    Worst SectorPricesChangeChange%
    Nifty IT26819.05-248.65 -0.92%


  • July 01, 2022 / 04:14 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    Markets traded volatile for yet another session and ended marginally lower. After the flat start, the benchmark plunged lower due to a sharp fall in index heavyweights, Reliance however resilience in banking and FMCG majors gradually pared the losses as the day progressed. Finally, the Nifty settled at 15,752 levels; down by 0.18%. Meanwhile, the broader indices outperformed the benchmark and gained in the range of 0.3-0.5%

    The recent consolidation phase indicates caution citing the recent fall in the global indices. We reiterate our view to focus on sectors/themes which are showing resilience and attracting buying interest on dips. 

    We like auto and FMCG among the sectoral pack while a rebound in energy and metal may continue to underperform. Participants should align the positions accordingly.

  • July 01, 2022 / 04:13 PM IST

    Amol Athawale, Deputy Vice President - Technical Research, Kotak Securities:

    Markets were in a one-way track and crashed nearly 1,000 points before recouping most of its lost ground as firm European markets opening provided a breather. Investors are extremely wary about the fragile economic situation worldwide and are selling at regular intervals on worries any worrisome news could trigger a massive sell-off. 

    In fact, selling in oil & gas, automobile stocks resulted in a weak close, but buying in banking, IT & realty stocks helped markets erase most of its early losses. 

    The Nifty has formed a Hammer candlestick formation on weekly charts, and 15700 could be the trend decider level. Above the same, the index could hit 15850-15950 levels. On the flip side, as long as the index trades below 15700, the correction wave is likely to continue and could retest the level of 15500-15350.

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  • July 01, 2022 / 04:06 PM IST

    Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas:

    The Nifty started the week on a strong note but couldn’t build upon the gains. It witnessed consolidation throughout the week & in the last session had sharp swings in both the directions. 

    Near term support zone was placed around 15700-15650, which the index breached on July 01 however received support near 15500. Overall structure shows that the index is likely to witness consolidation in the range of 15500-15900 in the coming sessions. 

    It is expected to face selling pressure as it approaches 15900-16000 zone. On the other hand, dips towards 15600-15500 can be taken as buying opportunities. 

  • July 01, 2022 / 03:50 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services

    Unfavorable cues from the domestic market led to a weak start due to weakness in the rupee and selling in oil refineries as the government imposed an additional export duty on petrol and diesel. 

    Adding to the weakness, India’s factory output growth slowed down during June, as high inflation continued to dampen demand. However, the FMCG sector witnessed strong buying supported by declining commodity prices on the belief that the prices have peaked out.

  • July 01, 2022 / 03:40 PM IST

    S Ranganathan, Head of Research at LKP securities:

    As the street sets about pricing in the impact of the windfall gain tax on the Oil & Gas sector, benchmark indices displayed high volatility today primarily led by the Energy sector. 

    The manner in which bulls responded with the help of FMCG stocks led by ITC in afternoon trade left bears completely surprised as it helped indices stage a breathtaking recovering by erasing all the days losses.

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  • July 01, 2022 / 03:38 PM IST

    Rupee Close:

    Indian rupee ended lower at 79.04 per dollar on Friday versus previous close of 78.97.

  • July 01, 2022 / 03:36 PM IST

    Market Close: Benchmark indices erased all the intraday losses and ended on flat note in the highly volatile day on July 1.

    At close, the Sensex was down 111.01 points or 0.21% at 52907.93, and the Nifty was down 28.30 points or 0.18% at 15752. About 1708 shares have advanced, 1503 shares declined, and 144 shares are unchanged.

    ONGC, Reliance Industries Power Grid Corporation, Bajaj Auto and Bharti Airtel were among the top Nifty losers. ITC, Bajaj Finance, Bajaj Finserv, Britannia Industries and Cipla were among the gainers on the index.

    Among sectors, Realty and FMCG indices up 1-2 percent, while oil & gas index shed 3 percent.

    BSE midcap index rose 0.6 percent and smallcap index ended flat.

  • July 01, 2022 / 03:24 PM IST

    SML Isuzu June Auto Sales Data | Total sales surges 412% at 1,322 units against 258 units, YoY

      SML Isuzu June Auto Sales Data | Total sales surges 412% at 1,322 units against 258 units, YoY
  • July 01, 2022 / 03:21 PM IST

    Morgan Stanley On Bajaj Electricals

    Morgan Stanley has kept equal-weight rating on Bajaj Electricals with a target at Rs 1,050 per share.

    The company is in process of demerging its power related business and aim is to improve focus on its consumer electricals & lighting business.

    The separate heads for consumer products & lighting has been appointed.

    And appointments would help sharpen focus on two business verticals to drive growth & margin, reported CNBC-TV18.

     Morgan Stanley On Bajaj Electricals  

 Morgan Stanley has kept equal-weight rating on Bajaj Electricals with a target at Rs 1,050 per share. 

 The company is in process of demerging its power related business and aim is to improve focus on its consumer electricals & lighting business. 

 The separate heads for consumer products & lighting has been appointed. 

 And appointments would help sharpen focus on two business verticals to drive growth & margin, reported CNBC-TV18.
  • July 01, 2022 / 03:18 PM IST

    Nifty Pharma index added nearly 1 percent supported by the Cipla, Lupin, Strides Pharma

     Nifty Pharma index added nearly 1 percent supported by the Cipla, Lupin, Strides Pharma
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  • July 01, 2022 / 03:14 PM IST

    Jefferies View On Petronet LNG

    Brokerage house Jefferies has maintained buy rating on Petronet LNG with a target at Rs 320 per share.

    The volumes improved by Dabhol unavailability & increased demand in CNG. The sharp spike in spot LNG price is a headwind.

    Jefferies see resilient FY23 EPS as trading gains offset the use-or-pay decline, reported CNBC-TV18.

    J efferies View On Petronet LNG  

 Brokerage house Jefferies has maintained buy rating on Petronet LNG with a target at Rs 320 per share. 

 The volumes improved by Dabhol unavailability & increased demand in CNG. The sharp spike in spot LNG price is a headwind. 

 Jefferies see resilient FY23 EPS as trading gains offset the use-or-pay decline, reported CNBC-TV18.
  • July 01, 2022 / 03:07 PM IST

    European Markets are trading flat with positive bias:

      European Markets are trading flat with positive bias:
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