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July 28, 2022 / 04:21 PM IST

Closing Bell: Nifty ends above 16,900, Sensex gains 1,041 pts led by IT, metal, realty

Among sectors, Bank, IT, Metal, Power, Realty up 1-2 percent.

  • Closing Bell: Nifty ends above 16,900, Sensex gains 1,041 pts led by IT, metal, realty
    Buzzing Stocks, Slideshow
    Moneycontrol.com
    HIGHLIGHTS
    • 03:35 PM IST

      Indian rupee ends higher by 15 paise at 79.75 per dollar

    • 03:34 PM IST

      Market ends higher for the second consecutive day, Nifty above 16900

    • 03:23 PM IST

      BofA Securities maintains buy rating on Bajaj Finance with a target at Rs 8,345

    • 03:20 PM IST

      ArcelorMittal Q2 net income falls 2% to $3,923 million

    • 03:18 PM IST

      Morgan Stanley keeps equal-weight rating on Bajaj Auto with a target at Rs 4,182

    • 03:15 PM IST

      Welspun India Q1 profit falls 90.4% to Rs 21.36 crore, revenue up 11.6% YoY

    • 03:10 PM IST

      Hindustan Aeronautics signs contract worth over $100 million with Honeywell for HTT-40 engines

    • 02:49 PM IST

      Filatex India Q1 profit falls 17% YoY to Rs 43.4 crore

    • 02:42 PM IST

      Morgan Stanley keeps overweight rating on Bajaj Finance

    • 02:37 PM IST

      Cognizant cuts revenue guidance, attrition zooms to 36%

    • 02:33 PM IST

      Mahindra & Mahindra Financial Services Q1 net profit at Rs 223 crore against loss of Rs 1,529 crore (YoY)

    • 02:23 PM IST

      Nocil Q1 net profit up 40.3% at Rs 66.5 crore against Rs 47.4 crore (YoY)

    • 02:13 PM IST

      SBI Cards Q1 net profit up 8% at Rs 626.9 crore against Rs 581 crore (YoY)

    • 01:49 PM IST

      EIH reports Q1 profit at Rs 65.86 crore, revenue rises 314%

    • 01:45 PM IST

      Citi maintains buy rating on Bajaj Finance with a target at Rs 8,400

    • 01:31 PM IST

      Federal Bank offers special rates for NR Term Deposits

    • 01:26 PM IST

      NIIT Q1 net profit declines 12.6% at Rs 47.7 crore

    • 01:24 PM IST

      Dr Lal PathLabs reportes 56.4% fall in June quarter net profit at Rs 58.2 crore

    • 01:20 PM IST

      Geojit reiterates BUY rating on Kotak Mahindra Bank, revised target Rs 2,173

    • 01:15 PM IST

      Nifty Metal index rose 2 percent supported by the Tata Steel, Welspun Corp, Jindal Steel

    • 12:59 PM IST

      BSE Midcap index rises 1 percent led by the Mindtree, Bajaj Holdings, Jubilant FoodWorks

    • 12:40 PM IST

      Jefferies keeps buy rating on Bajaj Auto, target at Rs 4,500

    • 12:35 PM IST

      Shree Cement Q1 standalone net profit at Rs 315.5 crore

    • 12:23 PM IST

      DB Corp reports net profit at Rs 31 crore against loss of Rs 22.2 crore

    • 12:09 PM IST

      CLSA retains outperform rating on Tata Motors, raises target price to Rs 494

    • 12:02 PM IST

      Indices extend gains, trade at day's high level

    • 11:44 AM IST

      TCS partners with The Walton Centre NHS Foundation Trust

    • 11:40 AM IST

      Jefferies keeps buy rating on Tata Motors with a target at Rs 540

    • 11:31 AM IST

      Nifty PSU Bank index rises 1 percent led by the PNB, Union Bank of India, Indian Bank

    • 11:07 AM IST

      Nestle India Q1 net profit down 4.3% at Rs 515.3 crore against Rs 538.6 crore (YoY)

    • 10:43 AM IST

      CMS Info Systems reports 46.8% jump in Q1 net profit at Rs 69 crore

    • 10:33 AM IST

      Dr Reddy's, Nestle India, SBI Life Insurance Company, Shree Cement among others to declare earnings today

    • 10:29 AM IST

      Prabhudas Lilladher retains 'buy' on VIP Industries, target price Rs 857

    • 10:25 AM IST

      Nomura maintains 'buy' rating on Tata Motors, target at Rs 520

    • 10:16 AM IST

      BSE Realty index rises 1 percent supported by the DLF, Sunteck Realty, Macrotech Developers

    • 10:10 AM IST

      Morgan Stanley maintains ‘underweight’ rating on Dixon Technologies, target Rs 2,634

    • 10:04 AM IST

      BSE Bank index rises 1 percent supported by the IndusInd Bank, Kotak Mahindra Bank, Bandhan Bank

    • 10:01 AM IST

      indices extend gains, trade at day's high

    • 09:51 AM IST

      CLSA maintains 'buy' rating on Bajaj Auto, cut target price to Rs 4,677

    • 09:39 AM IST

      Motilal Oswal maintains 'Buy' rating on Tata Motors, target Rs 520

    • 09:31 AM IST

      Nifty Information Technology index up 1 percent led by the Mindtree, L&T Infotech, Infosys

    • 09:14 AM IST

      Local stocks are likely to begin on a firm note: Prashanth Tapse

    • 09:04 AM IST

      Indian rupee opens 12 paise higher at 79.78 per dollar

    • 08:53 AM IST

      KEC International wins new orders of Rs 1,233 crore

    • 08:39 AM IST

      RBI to go for 35 bps hike in rates at next week's monetary policy meeting: Report

    • 08:18 AM IST

      Oil extends gains as risk appetite improves, U.S. inventories fall

    • 08:07 AM IST

      Tata Motors Q1 loss widens to Rs 5,006 crore, JLR a drag

    • 07:59 AM IST

      Maruti Suzuki Q1 profit jumps 130% YoY to Rs 1,013 crore

    • 07:50 AM IST

      Asia shares, bonds find some relief in Fed messaging

    • 07:46 AM IST

      Nasdaq has biggest one-day jump since 2020 after Fed rate hike

    • 07:43 AM IST

      SGX Nifty indicates a positive start for the Indian indices

  • IndexPricesChangeChange%
    Sensex59,932.24224.16 +0.38%
    Nifty 5017,610.40-5.90 -0.03%
    Nifty Bank40,669.30156.30 +0.39%
    Nifty 50 17,610.40 -5.90 (-0.03%)
    Thu, Feb 02, 2023
    Biggest GainerPricesChangeChange%
    ITC378.6017.20 +4.76%
    Biggest LoserPricesChangeChange%
    Adani Enterpris1,565.25-570.10 -26.70%
    Best SectorPricesChangeChange%
    Nifty FMCG45981.551023.25 +2.28%
    Worst SectorPricesChangeChange%
    Nifty Metal5908.20-268.85 -4.35%


  • July 28, 2022 / 08:19 AM IST

    Moneycontrol launches Analysts’ Call Tracker. A monthly special page that tells you which way analysts are leaning; the stock they are most bullish or bearish on, what they are upgrading or downgrades, and where they are betting against the market. Ignore this at your own risk!

  • July 28, 2022 / 04:30 PM IST

    Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities:
     
    Dalal Street staged a spectacular rebound, echoing global stock markets’ optimism amidst oversold conditions, with Fed's decision to hike rates by 75 bps gave Nifty bulls a signal to rise. 

    The positive takeaway was that the benchmark Nifty and many momentum stocks shined all-throughout the day. The buying stampede simply continued. Technically speaking, if Nifty’s holds above its make-or-break support at 15621 mark then the interweek trading theme could shift to ‘Enthused Bulls and Arrested Bears’.

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  • July 28, 2022 / 04:24 PM IST

    Anindya Banerjee, VP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities:
     
    The USDINR spot closed 14 paise lower at 79.75, thanks to the less than hawkish stance of the US Fed. With the US Fed hinting that they are looking to slow the pace of rate hikes in the upcoming meetings, USD saw profit taking. 

    Risk on mood in equity markets also helped the Rupee. Over the near term, we expect USDINR to trade with a negative bias within a range of 79.40 and 80.00 on spot.

  • July 28, 2022 / 04:20 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:
     
    Indian benchmark indices outperformed their Asian peers on the last day of the current month expiry, as there was no surprise in the rate hike decision by the US Federal Reserve which came on expected lines, fuelling a rally in the US markets. The upbeat mood also had a rub off effect on the domestic market, leading to buying in banking, IT, metals and realty stocks. 

    Investors feel that RBI too may not sprung any major surprise in the next week's monetary policy meeting on hopes inflation will see a downward curve going ahead. 

    Technically, the Nifty has formed a long bullish candle on daily charts which is largely positive. The short term trend is looking positive but due to temporary overbought situations we could see some profit booking at higher levels. For traders, the 200-day SMA (Simple Moving Average) of 17025 and 17100 would act as immediate resistance levels. On the flip side, 16800-16750 could be key support levels.

  • July 28, 2022 / 04:11 PM IST

    Kunal Shah, Senior Technical Analyst at LKP Securities:

    The Bank Nifty index continued its upward momentum and surpassed the immediate hurdle of 37,000. The index remains in a buy mode with immediate support at the 37,000-36,800 zone. 

    The next hurdle is placed at 38,000 where a significant amount of call writing has been witnessed. The RSI remains in a buy zone as long as it is trading above the level of 60.

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  • July 28, 2022 / 04:07 PM IST

    Rupak De, Senior Technical Analyst at LKP Securities:

    Nifty has moved above its previous swing high, suggesting a rising bullishness. Besides, a bullish crossover of short-term moving averages is likely to provide tailwind to the index value over the short term. 

    On the higher end, resistance is visible at 17000/17200 whereas on the lower end, support is visible at 16700.

  • July 28, 2022 / 04:05 PM IST

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

    With a gap up opening, it crossed the swing high of around 16750 & went on to cross the June high of about 16800. The bulls maintained upper hand throughout the day. Thus 16750-16800 now becomes a near term support zone.

    As long as the index trades above this zone it can continue to march higher towards 17000 where there is 61.8% retracement of the April – June decline & the 200 DMA. If the bulls manage to take out the level of 17000, then the index can stretch towards 17200 in the short term

  • July 28, 2022 / 03:58 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services

    Positive cues from global markets following the Fed policy outcome, as well as domestic large caps’ upbeat earnings, drove the market rally. The Fed's decision was as expected, while their positive comment dismissing the possibility of a recession and hinting at a slower pace of rate hikes in the coming months boosted global sentiments. 

    As a result, the Indian rupee strengthened, potentially attracting foreign funds into the domestic market. Domestic investors are now bracing for the RBI's MPC meet next week expecting a rate hike by 25-50 basis points.

  • July 28, 2022 / 03:39 PM IST

    Siddhartha Khemka, Head-Retail Research, Motilal Oswal Financial Services:

    US Fed hiked the policy rates by 75bps which was on expected lines and largely factored in by the market. Moreover the tone of Fed’s chairman was less hawkish compared to previous statement which receded some fears and uplifted the sentiments. 

    Going ahead, the rate hikes would be more data driven and would be determined by the behaviour of inflation. Fed chairman ruled out US recession possibility also at this juncture. 

    We expect it to have positive rub off on the RBI MPC where the latter might slow down its aggression and hike rates by 25bps in its next MPC.

  • July 28, 2022 / 03:35 PM IST

    Rupee Close:

    Indian rupee ended higher by 15 paise at 79.75 per dollar against previous close of 79.90.

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  • July 28, 2022 / 03:34 PM IST

    Market Close: Benchmark indices ended higher for the second consecutive day on July 28 with Nifty closing above 16900.

    At Close, the Sensex was up 1,041.47 points or 1.87% at 56,857.79, and the Nifty was up 287.80 points or 1.73% at 16,929.60. About 1865 shares have advanced, 1389 shares declined, and 141 shares are unchanged.

    Bajaj Finance, Bajaj Finserv, Kotak Mahindra Bank, IndusInd Bank and SBI Life Insurance were among major gainers on the Nifty, while losers included Shree Cements, Bharti Airtel, UltraTech Cement, Cipla and Bajaj Auto.

    Among sectors, Bank, IT, Metal, Power, Realty up 1-2 percent.

    BSE Midcap index added nearly 1 percent and smallcap index rose 0.6 percent.

  • July 28, 2022 / 03:27 PM IST

    Animesh Agarwal, Founder & COO, Tractor Junction:

    The tractor sales in India have been on a slow wicket, it was down by over 10% YoY for the month of June due to a higher base, and delayed arrival of the monsoon. For the month of July too, the expectation is expected to be on similar lines - uneven distribution of rains, flooding, and a higher base of July 2021 may impact sales for July 2022. 

    However, we expect the situation to normalize as the season progresses. We expect volume to pick up in August and September. Supply-side issues getting addressed, inflation peaking out and economic growth picking pace augurs well for an overall recovery in the rural economy. Tractor sales provide a mirror image of the rural economy.