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Closing Bell: Sensex, Nifty end marginally higher amid volatility; IT outshine
ndian benchmark indices ended marginally higher in the volatile session on July 4. The Sensex was up 62.87 points or 0.08 percent at 80,049.67, and the Nifty was up 15.70 points or 0.06 percent at 24,302.20.
We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.
Vinod Nair, Head of Research, Geojit Financial Services
The defensive bet on large caps like IT and pharma gained momentum due to the diminishing US inflationary pressure, improvement in QoQ earnings outlook and a resultant sharp fall in the US 10 yr bond yield. The buoyancy in government spending and the green shoots in corporate earnings are now supporting the premium valuation. Return of FIIs to the domestic market and expectation of a rate cut in September are supporting market sentiment.
Prashanth Tapse, Senior VP (Research), Mehta Equities
Benchmark Sensex steadily pared gains after scaling new life-time high in early trades, but managed to close above the 80k-mark for the first time due to selective buying in banking and IT stocks. While the market is in an overbought zone, investors would rather wait for Budget to throw positive surprises before taking aggressive stance.
Ajit Mishra – SVP, Research, Religare Broking
The markets traded within a narrow range and ended nearly unchanged, pausing after Wednesday's gains. After an initial rise, the Nifty fluctuated throughout the day and settled near its lowest point at 24,306.55. Sector-wise, there was a mixed trend with pharmaceuticals, IT, and automotive sectors seeing moderate gains, while FMCG and metals remained subdued. The broader indices performed better than the benchmark, each gaining about half a percent.
The Nifty has approached its immediate target of 24,500 and appears slightly overextended. It would be prudent to take some profits and wait for a potential dip before considering new long positions in the index. Meanwhile, the broader market strength and specific sectoral buying opportunities suggest that traders should focus more on stock selection and utilize dip/consolidation to add quality names.
Aditya Gaggar Director of Progressive Shares
Right from the beginning, the Index was seen giving up its gains and ended the session at 24,302.15 with a minuscule gain of 15.65 points. The Pharma sector regained its momentum and advanced more than 1% to be the top performer followed by IT. On the flip side, Media and FMCG were the laggards.
The interest of market participants was more toward Broader markets as Mid and Smallcaps moved over 0.45%. From the past couple of days, it seems that the Index is finding it difficult to hold higher levels and bearish divergence in RSI indicates weakening of momentum. The immediate support is placed at 24,150 while on the higher side, 24,400 will be considered as resistance
Currency Check | Rupee closes marginally higher
Indian rupee ended marginally higher at 83.50 per dollar on Thursday against Wednesday's close of 83.53.
Market Close | Sensex, Nifty end marginally higher amid volatility; IT outshine
Indian benchmark indices ended marginally higher in the volatile session on July 4.
The Sensex was up 62.87 points or 0.08 percent at 80,049.67, and the Nifty was up 15.70 points or 0.06 percent at 24,302.20. About 1901 shares advanced, 1550 shares declined, and 62 shares unchanged.
Top Nifty gainers were HCL Technologies, ICICI Bank, Sun Pharma, Infosys and Tata Motors, while top losers included HDFC Bank, Bajaj Finance, Wipro, Tech Mahindra and Adani Enterprises.
Among sectors, Information Technologies and Healthcare indices rose 1 percent each, while Auto and Realty were up 0.5 percent each. However, the Media index shed 0.4 percent.
The BSE midcap and smallcap indices rose 0.6 percent each
Sensex Today | 11 percent equity of Cigniti Technologies change hands in a bunch: Bloomberg
Sensex Today | 2.51 million shares of Poonawalla Fincorp traded in a block: Bloomberg
Stock Market LIVE Updates | Greaves Cotton appoints P. B. Sunil Kumar as CEO
Greaves Finance, a non-banking financial company (NBFC) and a wholly owned subsidiary of Greaves Cotton Ltd., has appointed P. B. Sunil Kumar as its new Executive Director & Chief Executive Officer effective 03rd July 2024.
| Company | CMP | High Low | Fall from Day's High |
|---|---|---|---|
| ICICI Bank | 1,233.70 | 1,234.40 1,214.30 | -0.06% |
9,420.35
1,801.30
979.60
1,467.00
6,161.00
2,717.05
1,628.00
594.30
427.05
Brokerage Call | Morgan Stanley keeps 'overweight' call on Polycab India, target Rs 7,310
#1 Management is optimistic on the growth outlook for the cables & wires industry
#2 As per company, domestic C&W industry to grow by 12-14 percent over medium-term
#3 Indian C&W industry is well placed for exports – cost competitiveness & technological adaptability
#4 Expects FMEG industry to rebound in FY25
Sensex Today | Dredging Corporation bags contract worth Rs 156 crore
Dredging Corporation of India has been awarded the annual maintenance dredging contract by the Cochin Port Authority. The contract, valued at Rs 156.50 crores, for the year 2024-25 with a provision to extend for another one year.
Sensex Today | Bansal Wire IPO subscribed 4.2x times on Day 2
Bansal Wire Industries' initial public offer (IPO) saw a robust response, fully subscribing on the second day of bidding on July 4, primarily driven by non-institutional investors (NIIs). The company's Rs 745-crore public offer received bids for over 9 crore equity shares, surpassing the offer size of 2.14 crore equity shares by 2.57 times, as per exchange data.
NIIs led the charge, bidding 7.94 times their allotted quota, while retail investors subscribed to 5.17 times their reserved portion. The portion earmarked for qualified institutional buyers (QIBs) was subscribed 0.04 times.
Brokerage Call | Investec keeps 'hold' rating on Bajaj Finance, Can Fin Homes; ‘buy’ on CreditAccess
#1 Hold call on Bajaj Finance, target Rs 7,600
#2 Hold call on Can Fin Homes, target Rs 800
#3 Buy call on CreditAccess, target Rs 1,900
#4 Q1 to be weak for lending financials except gold financiers, affordable HFCs & Chola Fin
#5 Expect loan growth to moderate in Q1 driven by seasonal factors
#6 Expect loan growth to moderate in Q1 driven by other events like elections, risk weight
#7 Formal HFCs (LIC Housing Finance, PNB Housing Finance) are likely to report weak loan growth QoQ
#8 Asset quality should deteriorate with higher credit cost for most players
#9 MFIs & SFBs will see higher stress in Q1 versus NBFCs operating in secured segments
#10 NIMs should see further moderation as we expect cost of funds to increase
#11 Remain positive on AU SFB, Equitas & CreditAccess Grameen from medium-term perspective
#12 See Q1 weakness as good entry opportunity for AU, Equitas & Cred
Sensex Today | 8.27 million shares of Nykaa traded in another block: Bloomberg
Markets@3 | Sensex, Nifty off day's high
The Sensex was up 79.21 points or 0.10 percent at 80,066.01, and the Nifty was up 16.30 points or 0.07 percent at 24,302.80. About 1961 shares advanced, 1488 shares declined, and 59 shares unchanged.
| Index | CMP Chg(%) | YTD(%) 1 Week(%) | 1 Month(%) 1 Year(%) |
|---|---|---|---|
| NIFTY 50 | 24299.65 0.05 | 11.82 1.06 | 11.04 25.33 |
| NIFTY BANK | 53112.85 0.04 | 9.98 0.57 | 13.18 17.24 |
| NIFTY Midcap 100 | 56613.65 0.57 | 22.59 2.15 | 15.18 58.26 |
| NIFTY Smallcap 100 | 18808.55 0.58 | 24.20 3.54 | 19.86 71.03 |
| NIFTY NEXT 50 | 72965.20 0.52 | 36.78 2.28 | 13.97 66.75 |
| Company | CMP | High Low | Fall from Day's High |
|---|---|---|---|
| ICICI Bank | 1,232.45 | 1,234.00 1,214.90 | -0.13% |
1,802.35
980.00
834.50
1,486.00
1,627.60
427.10
3,979.35
2,540.35
2,890.00
Stock Market LIVE Updates | GE T&D India shares gain 4% on winning euro 90 million order
The company has received an order worth 64 million euros from Grid Solutions SAS, France, for the supply and supervision of high voltage products. It has also bagged an order worth 26 million euros from Grid Solutions Middle East FZE, Dubai, for the supply and supervision of high voltage products.
Brokerage Call | Citi initiate 'sell' call on Indegene, target price Rs 510
#1 Expect company to benefit from accelerated digitalisation of the life sciences industry
#2 Like the strong management team underpinned by robust domain expertise
#3 Current valuations (nearly 29x FY26 estimates) appear to be pricing in the positives
#4 Wage hikes are likely to offset some of the benefit for the company
#5 We expect EBIT margin to remain stable in FY25 and FY26
Sensex Today | Nifty Realty index up nearly 1%; Sobha, Phoenix Mills, Brigade Enterprises
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Sobha | 2,031.15 | 4.34 | 151.96k |
| Phoenix Mills | 3,713.10 | 1.54 | 175.59k |
| Brigade Ent | 1,382.05 | 1.02 | 767.87k |
| Oberoi Realty | 1,805.95 | 0.44 | 221.64k |
| DLF | 842.95 | 0.21 | 1.40m |
| Prestige Estate | 1,802.70 | 0.17 | 841.73k |
Brokerage Call | Nomura Keeps 'neutral' rating on Yes Bank, target Rs 17
#1 Q1 update showed muted loan growth & deposits declined sequentially
#2 Casa declined 1 percent QoQ, while YoY growth was strong at 26 percent in Q1 update
#3 CASA ratio declined by 17 bps QoQ to 30.7 percent, await further details from Q1 results
#4 Expect company to deliver RoA of 0.5 percent/0.8 percent and RoE of 4.5 percent/7.5 percent in FY25/FY26
#5 Company’s return profile, though on an improving trajectory, is significantly lower than peers
#6 We believe book value per share adequately captures the positives for the company
Sensex Today | Zydus Lifesciences receives tentative approval from USFDA for Azilsartan Medoxomil Tablets
Sensex Today | Equitas Small Finance Bank Q1 total deposits up 35.4% YoY
#1 Equitas Small Finance Bank Q1 gross advances up 17.8% YoY
Sensex Today | Nykaa has 1.32 million shares traded in a block: Bloomberg
Sensex Today | HDFC Bank sheds over 2%, emerges top Nifty laggard amid profit-booking
Sensex Today | Star Health Insurance announces its home health care services across 50 cities & towns
Sensex Today | Tata Motors: JLR UK sales up 5.3% at 6,421 units in June vs 6,099 units YoY
Markets@2 | Sensex, Nifty trade marginally higher
The Sensex was up 128.70 points or 0.16 percent at 80,115.50, and the Nifty was up 39.60 points or 0.16 percent at 24,326.10. About 1946 shares advanced, 1478 shares declined, and 67 shares unchanged.
Sensex Today | Bank of Maharashtra's Q1FY25 gross advances up 19% at Rs 209065 cr
#1 Total deposits up 9.44 percent at Rs 2.67 lakh crore Vs Rs 2.44 lakh crore, YoY
#2 Gross advances up 19 percent at Rs 2.09 lakh crore Vs Rs 1.75 lakh crore, YoY
#3 CASA up 7.06 percent at Rs 1.33 lakh crore Vs Rs 1.24 lakh crore YoY, YoY
#4 CASA ratio at 49.86 percent vs 50.97 percent YoY & Vs 52.73 percent, QoQ
Stock Market LIVE Updates | Koura Fine Diamond appoints Charmi Kamlesh Lodhiya as CFO
The board has appointed Charmi Kamlesh Lodhiya as Chief Financial Officer (CFO) of the company, effective July 3, following the resignation of Krunal Soni as CFO.
Stock Market LIVE Updates | Mazagon Dock Shipbuilders crosses Rs 1 lakh crore market-cap
Stock Market LIVE Updates | ITD Cementation promoter Italian Thai Development looking to divestment stake
ITD Cementation's promoter shareholder - Italian Thai Development - is in early stages to explore divestment of its stake in the company, the company informed stock exchanges through an exchange filing on July 3.
The Company said that the process is at a preliminary stage and no definitive decision has been taken as yet. Italian Thai Development Public Company (ITD Bangkok) is the parent company, holding 47 percent stake in the company.
Sensex Today | BSE IT index up 1%; NELCO, Mastek, C. E. Info among top contributors
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| NELCO | 882.65 | 11.38 | 69.76k |
| Mastek | 2,888.00 | 5.1 | 28.91k |
| C. E. Info Syst | 2,442.00 | 5.08 | 36.97k |
| Aurionpro Solut | 1,535.60 | 5 | 15.44k |
| Moschip Tech | 303.80 | 4.99 | 2.87m |
| Datamatics Glob | 669.15 | 4.76 | 30.75k |
| Rategain Travel | 802.00 | 4.26 | 13.37k |
| COFORGE LTD. | 5,893.00 | 3.86 | 31.39k |
| HCL Tech | 1,530.90 | 3.39 | 104.72k |
| Sonata | 645.80 | 3.32 | 26.03k |
Sensex Today | Suryoday SFB jumps over 5% as deposits, advances grow in Q1
Shares of Suryoday Small Finance Bank rallied over 5 percent to Rs 194 per share on July 4 after the lender clocked strong advances and deposits in the June-ended quarter (Q1FY25).
Suryoday SFB loans and advances increased by 42 percent year-on-year (YoY) to Rs 9,037 crore in Q1FY25, as compared to Rs 6,372 crore. Sequentially too, it was up by 4 percent from Rs 8,650 crore in Q4FY24.
On the other hand, the lender's deposits improved by 42 percent YoY to Rs 8,137 crore in Q1FY25 from Rs 5,722 crore in the year-ago period. It was up 5 percent QoQ from Rs 7,777 crore.
Stock Market LIVE Updates | Bajaj Finance's AUM jumps 31% in Q1FY25
The non-banking finance company has recorded assets under management (AUM) at Rs 3.54 lakh crore for Q1FY25, growing 31% over the year-ago period.
The deposits book at Rs 62,750 crore increased by 26% compared to Q1FY24.
Net liquidity surplus was Rs 16,200 crore as of June 2024. New loans booked during Q1FY25 grew by 10% YoY to 10.97 million.
| Company | CMP Chg(%) | Volume | Value(Rs cr) |
|---|---|---|---|
| HDFC Bank | 1,729.80 -2.2 | 16.05m | 2,789.44 |
| ICICI Bank | 1,225.20 1.96 | 9.77m | 1,195.65 |
| Bajaj Finance | 7,129.05 -1.79 | 1.36m | 979.76 |
| Infosys | 1,657.55 1.85 | 5.28m | 872.79 |
| SBI | 840.75 0.1 | 9.00m | 755.59 |
| Bharti Airtel | 1,429.15 0.65 | 5.21m | 741.51 |
| TCS | 4,030.30 1.64 | 1.77m | 710.65 |
| HCL Tech | 1,524.70 2.95 | 3.99m | 604.54 |
| Tata Motors | 991.95 1.67 | 6.08m | 601.76 |
| Kotak Mahindra | 1,826.30 0.86 | 3.00m | 546.37 |
Sensex Today | European markets trade higher
European shares climbed on Thursday boosted by optimism on interest rate cuts by the Federal Reserve after weak U.S. data, while London markets gained as voting began in the UK with opinion polls predicting a historic win for the Labour party.
Sensex Today | Suryoday SFB jumps over 5% as deposits, advances grow in Q1
Shares of Suryoday Small Finance Bank rallied over 5 percent to Rs 194 per share on July 4 after the lender clocked strong advances and deposits in the June-ended quarter (Q1FY25).
So far this year, the stock of this small bank financier surged over 24 percent, outperforming 10 percent rise in the benchmark Nifty 50 index. Earlier, Suryoday SFB had hit 52-week high of Rs 219 apiece on May 3, 2024. Read More
Stock Market LIVE Updates | Pitti Engineering likely to launch Rs 300 crore QIP next week, Sources to CNBC-TV18
Sensex Today | GRM Overseas bags Rs 600 million rice order from Yemen Based Al-Naqeeb Group
GRM Overseas has bagged a new order worth Rs 600 million from Bin Awadh Alnaqeeb Group from Yemen. As per the agreement, GRM Overseas will ship Indian Basmati Rice to Bin Awadh Alnaqeeb Group, is the largest importer of Basmati Rice from India.
The Rs. 600 million order is the biggest order the company has received from the Yemen-based importer distributor till date.
Sensex Today | BSE Samllcap index hits fresh record high today
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| AstraZeneca | 7,275.55 | 13.88 | 5.65k |
| Inox Wind | 159.90 | 12.33 | 2.52m |
| Prime Focus | 149.60 | 10.81 | 215.14k |
| AGI Greenpac | 851.20 | 10.62 | 75.46k |
| Sunflag Iron | 255.85 | 9.78 | 366.37k |
| Shalimar Paints | 152.95 | 9.25 | 44.37k |
| Mazagon Dock | 5,114.85 | 9.15 | 683.56k |
| Greaves Cotton | 161.05 | 8.89 | 531.34k |
| Cochin Shipyard | 2,653.85 | 8.76 | 844.25k |
| Goldiam Inter | 178.00 | 8.44 | 219.92k |
Sensex Today | Adani Enterprises, Adani Energy Solutions may soon tap markets for QIPs
Adani group companies Adani Enterprises Ltd and Adani Energy Solutions are gearing up to tap the markets soon by way of qualified institutional placement (QIP) offerings to raise as much as $2.5 billion, people aware of the group’s plans told Moneycontrol.
Moneycontrol first reported on May 26 that the boards of Adani Enterprises Ltd and the group’s energy transmission and distribution business Adani Energy Solutions Ltd were looking to approve fundraising plans to the tune of $3.5-4 billion, collectively. Read More
Sensex Today | BSE Midcap index hits fresh record high today
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Lupin | 1,739.50 | 6.67 | 232.10k |
| Linde India | 9,050.85 | 5.24 | 9.88k |
| Laurus Labs | 456.75 | 4.65 | 143.46k |
| Honeywell Autom | 58,521.60 | 3.58 | 83 |
| Castrol | 251.05 | 3.31 | 1.57m |
| Persistent | 4,734.95 | 3.03 | 43.23k |
| Cummins | 4,073.00 | 2.92 | 12.79k |
| New India Assur | 252.00 | 2.75 | 84.97k |
| Solar Ind | 11,745.00 | 2.41 | 3.82k |
| REC | 575.00 | 2.29 | 658.49k |
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| PB Fintech | 1,428.20 | -2.57 | 95.89k |
| Ramco Cements | 822.95 | -2.05 | 50.51k |
| Sun TV Network | 782.75 | -1.61 | 29.92k |
| M&M Financial | 298.50 | -1.6 | 111.03k |
| Nippon | 651.10 | -1.14 | 15.20k |
| APL Apollo | 1,577.45 | -1.04 | 44.26k |
| ACC | 2,740.00 | -0.97 | 12.90k |
| LIC Housing Fin | 792.50 | -0.9 | 61.54k |
| United Brewerie | 2,017.35 | -0.89 | 1.82k |
| Indian Renew | 221.10 | -0.87 | 4.46m |
Sensex Today | NSE puts cap on opening price for SMEs on listing day
#1 Puts overall capping up to 90 percent over issue price for SME IPOs
#2 Price control cap of 90 percent shall be applicable only to SME segment
#3 Circular will come in force with immediate effect July 4, 2024
Markets@1 | Sensex, Nifty trade higher
The Sensex was up 229.07 points or 0.29 percent at 80,215.87, and the Nifty was up 62.00 points or 0.26 percent at 24,348.50. About 2043 shares advanced, 1375 shares declined, and 54 shares unchanged.
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| HCL Tech | 1,524.05 | 2.92 | 95.73k |
| ICICI Bank | 1,224.70 | 1.95 | 125.53k |
| TCS | 4,035.60 | 1.78 | 39.01k |
| Infosys | 1,656.55 | 1.78 | 298.93k |
| Sun Pharma | 1,555.90 | 1.52 | 25.23k |
| Tata Motors | 988.20 | 1.29 | 604.45k |
| M&M | 2,905.40 | 0.96 | 16.99k |
| Reliance | 3,126.00 | 0.67 | 84.26k |
| Asian Paints | 2,944.40 | 0.65 | 15.54k |
| Kotak Mahindra | 1,822.55 | 0.6 | 279.71k |
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| HDFC Bank | 1,731.50 | -2.08 | 827.77k |
| Bajaj Finance | 7,142.50 | -1.51 | 66.65k |
| Wipro | 532.20 | -1.27 | 571.85k |
| Tech Mahindra | 1,463.00 | -1.09 | 18.96k |
| UltraTechCement | 11,753.70 | -0.99 | 3.23k |
| IndusInd Bank | 1,443.50 | -0.83 | 58.71k |
| Titan Company | 3,340.75 | -0.6 | 46.67k |
| HUL | 2,501.85 | -0.33 | 24.00k |
| Nestle | 2,546.00 | -0.31 | 11.31k |
| Axis Bank | 1,277.75 | -0.16 | 56.22k |
Sensex Today | Bitcoin tests February lows below $60,000
Bitcoin fell below $60,000 - down for a third day - testing levels last since in February this year on concerns over President Biden's re-election bid and outflows in ETFs tracking cryptocurrencies.
Prices are also weighed down by a potential mass sale from a defunct crypto exchange Mt Gox. Read More
Stock Market LIVE Updates | Brigade Enterprises shares gain on signing Joint Development Agreement for a residential project
The Bengaluru-based real estate developer has signed a Joint Development Agreement for a residential project spread across 8 acres with a total development potential of around 1.2 million square feet. The gross development value of the project is around Rs 1,100 crore.
Sensex Today | 1.5 million shares of Delhivery changed hands in a bunched trade: Bloomberg
Sensex Today | BSE Capital Goods index up 0.5%; Suzlon Energy, SKF India, Honeywell Automation among major gainers
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Suzlon Energy | 54.98 | 2.73 | 2.16m |
| SKF India | 6,431.95 | 1.75 | 1.64k |
| Honeywell Autom | 57,460.00 | 1.7 | 61 |
| V-Guard Ind | 467.70 | 1.41 | 29.16k |
| Hindustan Aeron | 5,510.95 | 0.98 | 46.43k |
| Grindwell Norto | 2,947.10 | 0.88 | 2.63k |
| GMR Airports | 97.30 | 0.87 | 293.49k |
| Rail Vikas | 419.70 | 0.68 | 692.16k |
| BHEL | 313.35 | 0.66 | 2.24m |
| Bharat Forge | 1,668.75 | 0.65 | 40.43k |
