LiveNow
Closing Bell: Sensex, Nifty end flat amid volatility; mid, smallcaps shine
Indian equity indices ended on a flat note in a highly volatile session on July 11. At close, the Sensex was down 27.43 points or 0.03 percent at 79,897.34, and the Nifty was down 8.50 points or 0.03 percent at 24,316.
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.
Rupak De, Senior Technical Analyst, LKP Securities
The Nifty remained volatile throughout the day before closing flat. In the near term, the Nifty might trade sideways, with 24,150 and 24,400 acting as the key levels. A decisive fall below 24,150 might trigger panic in the market, while a decisive move above 24,400 might induce a rally towards 24,650.
The Bank Nifty remained rangebound during the day. The index is trading near a crucial support zone of 52,000-51,800. If it manages to hold this level, it could witness a pullback rally towards 52,500. A sustained move above 52,500 will open up the gates for 53,000. However, if it fails to hold the support at 51,800, it could decline further towards the 51,300-51,000 zone.
Prashanth Tapse, Senior VP (Research), Mehta Equities
After early volatility and a sharp fall thereafter, markets recouped most of its losses to end marginally lower at close on selective profit-taking despite optimism in global equities. We have already seen most of the rally part before the budget, hence investors would be cautiously optimistic and may take selective bets over the next few weeks.
Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
Nifty witnessed a volatile day of trade today. It opened in the positive and witnessed a sharp fall. It recovered during the second half to close marginally in the red down 8 points. On the daily charts we can observe that dips towards the lower boundary 24100 are being bought into suggesting strong support at 24150 – 24100 zone. Going ahead we expect the range bound price action to continue. Ideally dips towards, support zone should be used as a buying opportunity.
Bank Nifty also corrected intraday towards support zone 52000 – 51900 and as the day progressed it recovered to close with gains of ~81 points. Bank Nifty weekly PCR improved from 0.67 to 0.81 implying puts being written during the fall today and thus strong support base being built around 52000 levels. Thus, a crucial support base is placed in the zone 52000 – 51900 and only a breach below this zone shall lead to further weakness. Until then the rangebound price action with bullish bias between 53500 – 52000 is likely to continue.
Vinod Nair, Head of Research, Geojit Financial Services
The main indices are trading in a narrow range, struggling to justify its premium valuation ahead of the Q1 earnings season, which is forecast to be subdued. However, the broader market is exhibiting marginal momentum, led by a shift in FIIs inflow and budget expectations. Attention is now focused on the US inflation data, which is estimated to moderate and positively influence Fed's interest rate decisions.
Earnings Alert | TCS Q1 net profit at Rs 12,040 crore and revenue at Rs 62,613 crore
Aditya Gaggar Director of Progressive Shares
Opening gains did not last long as the Index quickly erased all its gains to retest its previous day's lower levels. In the mid-session, select heavyweights helped the Index to recover to end the weekly expiry trade at 24,315.95 with a marginal loss of 8.50 points.
As far as sectors are concerned, Media was the top gainer followed by FMCG while Realty was the major loser by ending the trade with a loss of 1.49%. Mid and Smallcaps managed to hold their opening gains and outperformed the Benchmark Index.
Our view on the index remains the same, i.e. as long as the index holds a level of 24,200 uptrend will remain intact and on the higher side, 24,460 will be a critical hurdle.
Currency Check | Rupee ends marginally lower at 83.56
Indian rupee closed marginally lower at 83.56 per dollar on Thursday versus Friday's close of 83.53.
Market Close | Sensex, Nifty end flat amid volatility; mid, smallcaps outshine
Indian equity indices ended on a flat note in a highly volatile session on July 11.
At close, the Sensex was down 27.43 points or 0.03 percent at 79,897.34, and the Nifty was down 8.50 points or 0.03 percent at 24,316.00. About 1966 shares advanced, 1427 shares declined, and 89 shares unchanged.
Top Nifty gained were BPCL, Coal India, ONGC, ITC and Tata Motors, while losers were Tata Consumer Products, Bajaj Finance, Divis Labs, M&M and NTPC.
Among sectors, realty index down 1.5 percent, and pharma index down 0.6 percent, while media and oil & gas index up 1 percent each.
The BSE midcap index rose 0.3 percent while the smallcap index added 0.6 percent.
Sensex Today | 1 million shares of SJVN traded in a block: Bloomberg
Sensex Today | 1 million shares of SJVN traded in a block: Bloomberg
Stock Market LIVE Updates | GNA Axles Q1 profit at Rs 27.8 Vs 33.1 crore, YoY
Sensex Today | Tata Consultancy Services shares trade higher ahead of Q1 results
Sensex Today | BSE Smallcap index up 0.6%; Shipping Corporation, HPL Electric, Shreyas Shipping
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Shipping Corp | 330.30 | 20 | 5.29m |
| HPL Electric & | 562.85 | 20 | 1.02m |
| Shreyas Shippin | 403.10 | 19.99 | 165.72k |
| AMSL | 221.10 | 18.3 | 175.02k |
| Refex Ind | 243.65 | 13.86 | 227.59k |
| Engineers India | 290.00 | 10.58 | 4.09m |
| Sequent Scienti | 138.50 | 10.36 | 255.87k |
| Welspun Special | 48.22 | 8.75 | 4.01m |
| Faze Three | 521.10 | 8.66 | 34.01k |
| Genesys Int | 680.25 | 8.3 | 69.81k |
Stock Market LIVE Updates | Som Distilleries' beer brands market share rise in Odisha
#1 Q1 primary sales up 38%
#2 Market share up from 14.4% in Q1 FY24 to ~16.1% in Q1FY25
Brokerage Call | Nomura upgrades Ambuja Cements to 'buy', target raises to Rs 780
#1 Raises target multiple to 19x (from 14x) to factor in aggressive capacity expansion
#2 Target raised to factor in entry into newer markets, above industry volume growth
#3 Target raised to factor in increased brownfield optionality, cost-optimisation measures
#4 Another round of inorganic expansion possible
#5 Lower heat consumption & higher share of green power to result in cost savings
Markets@3 | Sensex, Nifty off day's low
The Sensex was down 66.76 points or 0.08 percent at 79,858.01, and the Nifty was down 16.00 points or 0.07 percent at 24,308.50. About 1960 shares advanced, 1423 shares declined, and 86 shares unchanged.
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Tata Motors | 1,020.40 | 1.49 | 348.94k |
| ITC | 457.70 | 1.42 | 371.68k |
| Asian Paints | 3,022.65 | 0.91 | 58.74k |
| Titan Company | 3,250.00 | 0.81 | 14.49k |
| Kotak Mahindra | 1,845.00 | 0.76 | 82.66k |
| SBI | 855.50 | 0.75 | 403.66k |
| TCS | 3,937.80 | 0.71 | 513.05k |
| Tata Steel | 168.95 | 0.57 | 2.21m |
| Infosys | 1,654.00 | 0.38 | 65.40k |
| Bajaj Finserv | 1,587.65 | 0.32 | 62.76k |
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Bajaj Finance | 6,952.85 | -1.46 | 39.85k |
| Nestle | 2,590.65 | -1.12 | 21.12k |
| Sun Pharma | 1,579.75 | -1.11 | 72.51k |
| Larsen | 3,610.00 | -1.07 | 61.03k |
| NTPC | 377.55 | -1.06 | 580.26k |
| M&M | 2,705.50 | -0.97 | 122.50k |
| Power Grid Corp | 342.85 | -0.94 | 604.15k |
| UltraTechCement | 11,560.80 | -0.63 | 4.98k |
| Bharti Airtel | 1,435.70 | -0.62 | 37.71k |
| ICICI Bank | 1,237.35 | -0.49 | 143.96k |
| Company | CMP | High Low | Gain from Day's Low |
|---|---|---|---|
| ONGC | 305.20 | 307.20 295.15 | 3.41% |
488.55
299.60
448.70
2,973.00
1,276.95
1,007.05
5,338.00
1,821.55
3,895.60
Brokerage Call | Jefferies maintains ‘buy’ call on Reliance Industries, target at Rs 3,580
#1 Jio's public listing looks possible in CY25
#2 Jio could list at USD 112 billion valuation, 7-15 percent upside to RIL
#3 Tariff move indicates focus on monetisation & subscriber market share gains
#4 Entire IPO could be an offer for sale by minority shareholders
#5 RIL could look to spin off Jio & list it after a price discovery
#6 Stock performance & less than majority holding in JFS indicate spin-off route for Jio
#7 Investors (domestic & foreign) appear to favour spin-off route for Jio
#8 Primary concern for investors is Holdco discount
#9 Holdco discount is of 20-50% in India & 50-70% for conglomerates in Korea & Taiwan
#10 Large retail investor mobilisation in the case of an IPO is another concern
Sensex Today | 2.08 million shares of Poonawalla Fincorp traded in a bunch: Bloomberg
BPCL plans 9-15 MMTPA refinery, to seek overseas partner: Official
Gold slightly up on rate cut hopes, Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas
Yesterday, the Fed Chair Powell, in his testimony to the House Financial Services, struck a cautious tone yet again. He said that while the Fed will not wait for the US inflation to hit 2% to cut rates, the Central Bank wants to ensure that the inflation will hit the Fed's target of 2% before they begin slashing rates. He called the monetary policy restrictive, though he acknowledged that the present policy is probably not too tight as neutral rates might have moved up.
Gold closed with a gain of 0.32% at $2371. It is trading at $2381, up 0.32% presently.
Today's US CPI inflation data will be quite crucial for the metal. Lack of further progress on inflation cooling will lead to a sharp decline, though triggering of Sahm's rule, as the US unemployment rate hit 4.1% in June, is going to limit the downside to some extent. Overall, as the US job market crumbles, buying the dips will be the preferred strategy now. Support is at $2342. Resistance is at $2400/$2450.
| Company | CMP | High Low | Gain from Day's Low |
|---|---|---|---|
| Bandhan Bank | 196.70 | 196.90 192.30 | 2.29% |
188.23
1,821.55
1,276.95
624.75
Brokerage Call | Job creation via capex, social spending, fiscal prudence to be key themes in Budget 2024, says Morgan Stanley
The key themes in the upcoming budget would be centered around fiscal prudence, capex spending to help create jobs and targeted social sector spending, according to international brokerage Morgan Stanley.
The brokerage said it is likely that the central government will retain a 5.1 percent fiscal deficit target, in line with the interim budget. This puts the government on track to achieve the target of 4.5 percent of GDP by F2026.
One of the key reasons is the larger-than-expected transfer of surplus from the RBI. The transfer will help the government maintain the momentum on capex expenditure and increase targeted welfare spending, per Morgan Stanley. "In this context, we see the possibility of a slightly lower fiscal deficit target (tad below 5.1% of GDP) given the support from tax and non-tax revenues," said the brokerage. Read More
Stock Market LIVE Updates | Sharp surge in Oil India, stock hits lifetime high
Volumes in the counter surge as 67 lakh shares changed hands so far, higher than the one-month daily traded average of 47 lakh shares. The stock has already delivered nearly 120 percent gains in the year so far.
Brokerage Call | Reliance Jio IPO may get over Rs 9 lakh crore valuation, says Jefferies
Reliance Jio Infocomm Ltd, the telecom unit of Reliance Industries Ltd, could be headed for a mega IPO in 2025, with a potential valuation of more than Rs 9.3 lakh crore, a Jefferies note said.
Jio 'could list at $112 billion valuation' and add '7-15 percent upside' to the Reliance Industries share price, Jefferies said in the note on July 11.
The brokerage maintained a 'buy' rating on the RIL stock, with a target price of Rs 3,580 per share. This implies an upside of more than 13 percent to the last closing price of Rs 3,164. RIL's share price has surged more than 22 percent since January, outperforming the Nifty 50, which gained 12 percent. Read More
Stock Market LIVE Updates | Shalby shares rise 6% after securing 30-year lease for Mumbai's Asha Parekh Hospital
Shares of Shalby Limited advanced after the company announced a 30-year lease for running the Asha Parekh Hospital in Santacruz, Mumbai.
In a filing on Wednesday, Shalby informed the exchanges that the Charity Commissioner of Mumbai approved an application submitted in November 2023. The approval grants Shalby a 30-year lease on the immovable property of Asha Parekh Hospital, also known as Smt Bhikhubai Chandulal Jalundwala General Hospital (BCJ), in Santacruz.
The speciality chain hospital also added that the company will execute a lease agreement with the trust and obtain necessary approvals and permissions for the construction of over 175 bedded new hospital facility at Santacruz.
Spot USDINR to trade between 83.35-83.80: Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas
Indian Rupee declined by 0.08% today on weak tone in the domestic markets and a recovery in crude oil prices. The domestic indices fell for the second consecutive session after hitting record highs on Tuesday. However, FII inflows and a soft tone in the US Dollar cushioned the downside. US Dollar declined as Fed Chair Jerome Powell was dovish, rising expectations of a rate cut by the Fed in September.
We expect Rupee to trade with a slight negative bias on profit booking in the domestic market which may result in FII outflows. Elevated crude oil prices may also weigh on the Rupee. However, soft US Dollar and positive Asian currencies may support the Rupee at lower levels. Traders may take cues from inflation and weekly unemployment claims data from the US today. USDINR spot price is expected to trade in a range of Rs 83.35 to Rs 83.80.
Markets@2 | Sensex, Nifty recover, trade flat
The Sensex was down 73.87 points or 0.09 percent at 79,850.90, and the Nifty was down 10.40 points or 0.04 percent at 24,314.10. About 1992 shares advanced, 1387 shares declined, and 69 shares unchanged.
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Tata Motors | 1,023.25 | 1.77 | 322.96k |
| ITC | 457.55 | 1.38 | 293.48k |
| Reliance | 3,196.60 | 0.94 | 70.82k |
| SBI | 856.45 | 0.87 | 336.25k |
| HCL Tech | 1,522.50 | 0.82 | 61.95k |
| Kotak Mahindra | 1,845.20 | 0.77 | 69.31k |
| Tata Steel | 169.20 | 0.71 | 1.99m |
| Asian Paints | 3,015.05 | 0.66 | 51.37k |
| Titan Company | 3,244.00 | 0.62 | 11.88k |
| Infosys | 1,653.15 | 0.33 | 56.92k |
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Bajaj Finance | 6,948.95 | -1.51 | 35.38k |
| Nestle | 2,581.00 | -1.49 | 18.56k |
| Sun Pharma | 1,577.40 | -1.26 | 30.22k |
| NTPC | 377.20 | -1.15 | 530.64k |
| HDFC Bank | 1,611.05 | -0.93 | 558.83k |
| ICICI Bank | 1,232.80 | -0.86 | 122.67k |
| Power Grid Corp | 343.20 | -0.84 | 574.29k |
| Larsen | 3,621.30 | -0.76 | 51.48k |
| UltraTechCement | 11,556.35 | -0.67 | 3.49k |
| M&M | 2,714.35 | -0.65 | 109.34k |
Sensex Today | Nifty recovers 120 points from day's low
| Company | CMP | High Low | Gain from Day's Low |
|---|---|---|---|
| ONGC | 305.85 | 306.60 295.15 | 3.63% |
488.55
3,141.00
299.60
448.70
1,007.05
1,821.55
2,973.00
1,441.25
1,276.95
Sensex Today | TCS shares trade flat ahead of Q1 earnings
Stock Market LIVE Updates | Goldiam International bags export orders of Rs 60 crore
The company has received additional new Export Orders worth of Rs 60 crores for manufacturing of lab-grown diamond studded gold jewellery. With this order, the Company has aggregate booked order for manufacturing of diamond studded gold jewellery is of Rs.150 crores.
Sensex Today | Zee Media appoints Karan Abhishek Singh as CEO of the company w.e.f. July 10, 2024
Stock Market LIVE Updates | Power Grid to borrow funds up to Rs 16,000 crore during FY25 via bonds
| Company | Quantity | Price | Value(Cr) |
|---|---|---|---|
| Alstone Text | 364665 | 0.84 | 0.03 |
| Indian Renew | 54035 | 267.6 | 1.45 |
| Alstone Text | 475576 | 0.83 | 0.04 |
| Indian Renew | 38110 | 265.55 | 1.01 |
| CNI Research | 450000 | 8.97 | 0.4 |
| Cochin Shipyard | 3500 | 2863.95 | 1 |
| Indian Renew | 65197 | 261.7 | 1.71 |
| Indian Renew | 42370 | 260.55 | 1.1 |
| REC | 25055 | 643 | 1.61 |
| Saianand Comm | 302675 | 0.89 | 0.03 |
Brokerage Call | MOSL maintains 'buy' rating on Hindalco Industries, target Rs 800
#1 Capacity expansion to drive next leg of growth; Novelis to witness further margin gains
#2 For FY25, management expects to incur a capex of Rs 6,000 crore in India for mines expansion and Rs 6,000 crore in India for alumina refinery, FRP-II expansion
#3 Key Risks: Any further extension in capex timeline and an increase in capex, will add pressure on cash flow
Sesnex Today | Realty index underperforms other sectoral indices
| Index | CMP Chg(%) | YTD(%) 1 Week(%) | 1 Month(%) 1 Year(%) |
|---|---|---|---|
| NIFTY AUTO | 25323.05 0.08 | 36.01 -0.17 | 0.37 62.15 |
| NIFTY IT | 37294.05 0.04 | 5.01 -1.14 | 8.00 27.18 |
| NIFTY PHARMA | 20581.40 -0.7 | 22.28 1.93 | 4.53 48.12 |
| NIFTY FMCG | 59469.25 0.2 | 4.36 4.23 | 2.90 11.82 |
| NIFTY PSU BANK | 7226.65 -0.03 | 26.48 -0.54 | -1.61 63.30 |
| NIFTY METAL | 9723.80 0.01 | 21.88 -2.14 | -0.67 52.67 |
| NIFTY REALTY | 1107.70 -1.68 | 41.46 -1.05 | 1.08 110.25 |
| NIFTY ENERGY | 43002.05 0.77 | 28.49 2.76 | 5.86 67.19 |
| NIFTY INFRA | 9289.35 0.12 | 27.19 1.66 | 4.89 57.76 |
| NIFTY MEDIA | 2034.30 1.15 | -14.82 -0.52 | -0.40 8.15 |
Sensex Today | Mehul Patel resigns as CFO of Shukra Pharma w.e.f July 10, 2024
Brokerage Call | Jefferies View on Reliance Industries
#1 See public listing on Jio in CY25 with valuation seen at $112 billion
#2 Owner's stake in the recently spun-off Jio Fin was 45.8% on listing and the strong performance of stock prices of RIL & Jio Fin since the event
#3 Less than majority stake of the owners in Jio Fin, may tilt the owner to adopt the spin-off route for Jio
Brokerage Call | UBS maintains 'buy' rating on Havells India, target Rs 2,040
#1 Company announced capacity expansion for cables with an investment outlay of Rs 380 crore
#2 Capacity expansion for cables could generate an incremental topline of Rs 1,500 crore
#3 The expansion step in right direction given strong demand tailwinds in cables
Nelco Q1 net profit down 19.3% at Rs 4.6 crore Vs Rs 6 crore, YoY
Vedanta likely to raise up to Rs 8,000 cr via QIP: Sources
Sensex Today | Glenmark Life drops 4% on Glenmark Pharma's plans to exit via OFS
Shares of Glenmark Life Sciences slumped as much as nearly 4 percent on July 11, a day after Glenmark Pharma's board greenlit the company's plans to offload a 7.84 percent stake in the former through an offer for sale.
With this OFS, Glenmark Pharma will completely exit Glenmark Life Sciences. The floor price for the OFS is fixed at Rs 810 per share, representing a 7.5 percent discount to the previous closing price of Glenmark Life Sciences. Kotak Securities Limited will be the broker for the OFS. Read More
Stock Marke LIVE Updates | PTC Industries to consider fund raising on July 13
Sensex Today | Nifty Realty index down 1.6%; Brigade Enterprises, Prestige Estate, Godrej Properties
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Brigade Ent | 1,299.55 | -3.62 | 160.49k |
| Prestige Estate | 1,754.85 | -1.79 | 952.48k |
| Godrej Prop | 3,274.75 | -1.18 | 145.02k |
| Phoenix Mills | 3,951.10 | -1.17 | 332.80k |
| Oberoi Realty | 1,708.25 | -0.89 | 293.06k |
| Sobha | 2,011.15 | -0.86 | 35.92k |
| DLF | 831.60 | -0.61 | 823.45k |
Stock Market LIVE Updates | Sona BLW Precision issues corporate guarantee of USD 2.8 million in favour of Citibank (China) Co
DRDO awards development of radar signal processor project to Data Patterns
Stock Market LIVE Updates | Tata Elxsi Q1 Net profit down 6.5% at Rs 184.1 crore
#1 Net profit down 6.5 percent at Rs 184.1 crore Vs Rs 196.9 crore, QoQ
#2 Revenue up 2.3 percent at Rs 926.5 crore Vs Rs 905.9 crore, QoQ
#3 EBIT down 3.6 percent at Rs 225.3 crore Vs Rs 233.7 crore, QoQ
#4 Margin at 24.3 percent Vs 25.8 percent, QoQ
Stock Market LIVE Updates | GE Power board approves sale of two undertakings
The company's board approved the sale and transfer of two undertakings. Its hydro business will be sold to GE Power Electronics (India) Private Limited, while the gas power business will be sold to GE Renewable Energy Technologies Private Limited. Both transactions will be executed as a slump sale.
Maritime Development Fund may be announced in Budget, to get allocation of Rs 15,000-20,000 crore: Sources to CNBC Awaaz
