Dilip Parmar, Research Analyst, HDFC Securities
The Indian rupee appreciated for the second day in a row following foreign fund inflows and stronger Asian currencies. The long liquidation from the speculators and expectation of the central bank intervention supported the rupee.
In the near-term, spot USDINR is expected to face resistance around 82.95 and support at 82.20.
Rupak De, Senior Technical Analyst at LKP Securities
:
The Nifty started on a higher note but experienced significant volatility throughout the day. However, the overall trend remained bullish as it sustained above the near term moving average. The RSI indicated a bearish crossover, suggesting a potential decline in the market.
There is a support level at 19400/19300, which might prevent further downside movement. On the upside, there is a resistance level at 19550, which could potentially limit upward movement in the market.
Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services
Domestic equities traded in positive territory after an encouraging handover from global peers. Nifty opened higher and remained steady throughout the session to close with gains of 84 points (+0.4%) at 19439 levels. Broader market outperformed with the Nifty midcap 100 and Nifty smallcap 100 up +0.9% and 1.2% respectively. Auto, FMCG, Pharma, and Consumer Durables were major gainers up more than 1% each. Defence sector was in the limelight on the eve of India’s PM visit to France where they are likely to sign several deals including a Technology transfer agreement.
Nifty has been trading between 19400-19500 range for the last 6 trading sessions and has shown strength at lower levels. Even today Nifty held on to its gains despite profit booking in several banking and Financial heavyweights. Going forward, we expect the positive momentum to continue on the back of healthy earnings, consistent FII inflows, and improving monsoon. Technology sector is likely to remain in action as TCS and HCL Tech will announce their result on Wednesday. Investors would also watch for India and US’s inflation data to be release Wednesday.
Kunal Shah, Senior Technical & Derivative analyst at LKP Securities:
The Bank Nifty index is currently experiencing continued dominance from bears as selling pressure persists from higher levels. The index is facing a strong resistance zone at 45200, which has proven difficult to surpass.
At present, the index is trading near a crucial support zone of 44800-44750. If this support zone is breached, it is likely to lead to further downside movement towards the 20-day moving average (20DMA), which is positioned at the 44500-44000 range.
The Bank Nifty index has been trading within a broad range of 44500-45500. In such a range-bound scenario, it is advisable for traders to utilize opportunities presented by both the upside and downside movements.
Vinod Nair, Head of Research at Geojit Financial Services
The market now awaits the Q1 results, IT sector which kicks off tomorrow, where expectations are muted with a focus on the sustenance of margin and improvement in long-term guidance. The positivity also stems from China's anticipated stimulus to withstand economic growth and hope on the moderation in US inflation data. The overall valuation for India is marginally above the long-term average, which is fair given strong earnings expectations on FY24.
Ajit Mishra, SVP - Technical Research, Religare Broking
Markets edged higher in a volatile session, in continuation to the prevailing consolidation tone. The first half was upbeat however Nifty failed to surpass the immediate hurdle at the record high and witnessed profit taking in the latter half. Finally, it settled at 19439.40; up by 0.43%.
Most sectors contributed to the move wherein auto, FMCG and pharma were among the top gainers. Meanwhile, the broader indices outperformed and gained nearly a percent each.
The pressure in the banking pack is capping the upside while others are trying their best to push the markets higher. Though it may further delay the resumption of the trend, the tone is likely to remain positive. Besides, we are closely eyeing the US markets for cues and their sustained recovery could trigger the next leg of up move. Meanwhile, we reiterate our view to focus on stock selection and utilizing this phase to gradually accumulate them on dips.
Rupee Close:
Indian rupee ended 21 paise higher at 82.36 per dollar against Monday's close of 82.57.
Market Close:
Benchmark indices ended higher on July 11 with Nifty around 19450 amid buying across the sectors barring metal and PSU Banks.
At close, the Sensex was up 273.67 points or 0.42% at 65,617.84, and the Nifty was up 83.50 points or 0.43% at 19,439.40. About 1892 shares advanced, 1496 shares declined, and 117 shares unchanged.
Biggest gainers on the Nifty included Sun Pharma, Eicher Motors, Tata Consumer Products, Apollo Hospitals Enterprises and Maruti Suzuki, while losers were UPL, JSW Steel, Bajaj Finance, Axis Bank and HCL Technologies.
Except metal and PSU Bank, all other sectoral indices ended in the green with auto, power, FMCG, capital goods and healthcare added 1 percent each.
The BSE midcap and smallcap indices up nearly 1 percent each.
Stock Market LIVE Updates | McLeod Russel board approves agreement with Carbon Resources to monetise company's identified assets
McLeod Russel has approved the execution of an exclusivity agreement with Carbon Resources to evaluatea mutually agreeable mechanism for monetization of identified assets of the company. The proposed asset sale is a one-time settlement of the debt owed by the company to its identified lenders.
| Company | CMP | High Low | Fall from Day's High |
|---|---|---|---|
| ICRA | 5,444.00 | 5,444.15 5,405.00 | 0% |
| Linde India | 4,442.95 | 4,443.60 4,293.15 | -0.01% |
| PSP Projects | 731.50 | 731.55 706.15 | -0.01% |
| Graphite India | 414.45 | 414.50 401.70 | -0.01% |
| Venus Pipes | 1,180.85 | 1,181.00 1,164.60 | -0.01% |
| Welspun Enter | 240.85 | 240.90 230.35 | -0.02% |
| Neuland Lab | 3,003.05 | 3,004.05 2,893.50 | -0.03% |
| Route | 1,594.55 | 1,595.00 1,532.05 | -0.03% |
| AYM Syntex | 77.20 | 77.23 75.49 | -0.04% |
| Coromandel Int | 965.95 | 966.45 954.65 | -0.05% |
Stock Market LIVE Updates | Macquarie View On CONCOR
-Neutral rating, target at Rs 620 per share
-Overall Q1 volume growth came in a tad weaker than expected
-Weak export & import handling volume partially offset by in-line domestic biz performance
-CONCOR regains some market share, but growth lags Adani Rail
Container Corporation of India was quoting at Rs 677.05, up Rs 5.65, or 0.84 percent.
Sensex Today | Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas
Indian Rupee appreciated on the overnight decline in US Dollar and the rise in risk appetite in global markets. FII inflows also supported Rupee. US Dollar declined after Fed officials commented that though the central bank will need to hike interest rates further to tame inflation, the end to the monetary policy tightening cycle is getting close. US inflation is due to Tuesday and the forecast shows inflation declining to 3.1% in June from 4% in the previous month.
We expect Rupee to trade with a negative bias on overall concerns over global economic slowdown and expectations that major central banks will hike interest rates to bring inflation lower to their target levels. However, positive domestic markets and a soft dollar may support the rupee at lower levels. Market participants may remain cautious ahead of India’s inflation and IIP data and US inflation and PPI data this week. We expect the USDINR spot to trade between 82 to 82.85 in the near term.
Stock Market LIVE Updates | PCBL Q1 earnings:
The company has posted 13.5 percent fall in its Q1 net profit at Rs 109.2 crore versus Rs 126 crore and revenue was down 4.4% at Rs 1,347.5 crore versus Rs 1,409 crore, YoY.
Stock Market LIVE Updates | MCA issues inspection order against Shree Cement, quoting Sources, reported CNBC-TV18.
| Company | CMP | Chg(%) | 30 SMA |
|---|---|---|---|
| Shyam Telecom | 8.4 | 10.96 | 7.57 |
| Gujarat Apollo | 215 | 10.76 | 194.12 |
| Bharat Dynamics | 1235.55 | 9.56 | 1127.73 |
| Dhanuka Realty | 8.7 | 6.62 | 8.16 |
| Donear Ind | 99.85 | 5.81 | 94.37 |
| Rudrabhishek En | 181.85 | 5.51 | 172.36 |
| Servotech Power | 157.9 | 4.93 | 150.48 |
| Visagar Polytex | 0.9 | 4.65 | 0.86 |
| Mangalam Global | 21 | 4.48 | 20.1 |
| Vaxtex | 2.4 | 4.35 | 2.3 |
Indoco Remedies' Goa facility (Plant III) gets EU GMP certification from German Health Authority
Indoco Remedies received EU GMP certification from the Competent Health Authority of Germany for its manufacturing site situated at L-32/33/34 Verna Industrial Estate, Goa.
The European Agency conducted an inspection at Indoco’s manufacturing facility for solid oral dosage form in Goa (Plant -III) from April 20-25, 2023.
| Company | CMP Chg(%) | Today Vol 5D Avg Vol | Vol Chg(%) |
|---|---|---|---|
| Rachana Infra | 106.65 4.97% | 244.70k 4,780.00 | 5,019.00 |
| Gujarat Apollo | 213.55 11.81% | 90.73k | 5,019.00 |
| CarTrade Tech | 556.90 14.27% | 5.25m | 5,019.00 |
| MONQ50 | 53.85 1.07% | 649.61k | 5,019.00 |
| Indo-National | 447.80 11.24% | 173.18k | 5,019.00 |
| Bharat Dynamics | 1,237.20 14.51% | 9.22m | 5,019.00 |
| Cochin Shipyard | 671.05 15.18% | 15.31m | 5,019.00 |
| ABSL Silver ETF | 72.65 0.53% | 1.54m 106,867.40 | 1,342.00 |
| Elecon Eng | 717.80 13.34% | 4.69m | 1,342.00 |
| IFGL Refractory | 373.50 10.32% | 474.85k | 1,342.00 |
Stock Market LIVE Updates | Cyient DLM records 20% surge and 91% gain since market debut
Cyient DLM witnessed a significant surge in its stock price on Tuesday, as shares soared by 20% to reach Rs 504.90 during intra-day trading on the BSE. This impressive rise follows the company's successful market debut on Monday. Notably, the stock of this industrial products company has skyrocketed by an astonishing 91% in relation to its issue price of Rs 265 per share, reflecting its remarkable performance in the market.
Stock Market LIVE Updates |
Bharat Electronics gains 3% after block deal
Shares of Bharat Electronics Ltd gained over 3 percent after a huge block deal. Around 1.06 crore shares or 0.13 percent stake of the company changed hands at an average price of Rs 128 a share, CNBC reported. However, details of the buyers and sellers were not known.
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Tata Comm | 1,631.00 | 6.44 | 4.43m |
| Polycab | 3,733.45 | 5.27 | 1.07m |
| Indiamart Inter | 2,765.90 | 4.4 | 504.08k |
| IDFC First Bank | 82.25 | 3.79 | 46.33m |
| Sun TV Network | 474.90 | 3.1 | 838.33k |
| ABB India | 4,494.90 | 2.87 | 247.70k |
| Fortis Health | 331.80 | 2.84 | 3.64m |
| Dixon Technolog | 4,353.00 | 2.7 | 381.44k |
| Guj State Petro | 296.95 | 2.7 | 568.77k |
| BHEL | 93.65 | 2.69 | 15.63m |
Stock Market LIVE Updates | CarTrade Tech to acquire 100% stake in Sobek from OLX India B V
CarTrade Tech has entered into a share purchase agreement with Sobek Auto India and its holding company OLX India B V for acquisition of 100% stake of Sobek Auto India from OLX India B V. The acquisition cost is Rs 537.43 crore.
Sensex Today | Dollar falls to 2-month low, sterling hits 15-month high on strong wage growth
The dollar weakened to a two-month low on Tuesday after Federal Reserve officials signalled that the central bank was nearing the end of its tightening cycle, while the pound hit a 15-month high after pay growth exceeded expectations.
Several Fed officials said on Monday the central bank would likely need to raise interest rates further to bring down inflation but the end to its current monetary policy tightening cycle was getting close.
The comments knocked the greenback to a two-month low of 101.67 against a basket of currencies, as traders pared back their expectations about how much further U.S. rates may have to rise.
Sensex Today | Market at 3 PM
The Sensex was up 387.31 points or 0.59% at 65,731.48, and the Nifty was up 116.00 points or 0.60% at 19,471.90. About 1823 shares advanced, 1366 shares declined, and 115 shares unchanged.
| Index | CMP Chg(%) | YTD(%) 1 Week(%) | 1 Month(%) 1 Year(%) |
|---|---|---|---|
| NIFTY AUTO | 15581.10 1.15 | 23.54 3.63 | 6.53 27.17 |
| NIFTY IT | 29312.15 0.4 | 2.41 -1.40 | 3.37 7.05 |
| NIFTY PHARMA | 13869.95 0.86 | 10.10 1.42 | 7.84 10.39 |
| NIFTY FMCG | 53145.30 1.16 | 20.32 0.63 | 4.88 29.49 |
| NIFTY PSU BANK | 4432.20 -0.03 | 2.63 2.15 | 9.84 66.68 |
| NIFTY METAL | 6386.95 0.03 | -5.00 1.78 | 5.76 30.51 |
| NIFTY REALTY | 527.40 0.09 | 22.14 0.85 | 5.81 26.46 |
| NIFTY ENERGY | 25673.45 0.69 | -0.76 2.94 | 6.22 2.67 |
| NIFTY INFRA | 5879.10 0.85 | 11.94 2.19 | 5.47 26.23 |
| NIFTY MEDIA | 1879.55 0.11 | -5.65 6.36 | 6.58 -3.68 |
Stock Market LIVE Updates | Vedanta share price fell more than a percent after Taiwan's Foxconn said that it is pulling out of a joint venture with the company to produce semiconductors from India.
Sensex Today | Nifty Energy index up 0.7 percent led by Power Grid Corp, Adani Green Energy, BPCL
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Power Grid Corp | 253.20 | 1.28 | 3.43m |
| Adani Green Ene | 966.60 | 0.75 | 427.90k |
| BPCL | 388.75 | 0.66 | 1.81m |
| Reliance | 2,753.10 | 0.66 | 5.94m |
| IOC | 98.00 | 0.62 | 11.08m |
| ONGC | 163.75 | 0.61 | 3.66m |
| NTPC | 191.95 | 0.21 | 6.89m |
| Tata Power | 225.45 | 0.2 | 3.48m |
| GAIL | 109.00 | 0.05 | 7.06m |
Bharat Electronics Large Trade | 106.83 lakh shares (0.13% equity) worth Rs 135.81 crore change hands at average of Rs 128 per share, reported CNBC-TV18.
Stock Market LIVE Updates | Shivalik Bimetal confirms no damage from landslides near Solan plant
Shivalik Bimetal Controls clarified concerns over recent landslides near its Solan plant. The company confirmed that these events caused no damage to facilities, operations, or supply chain that continued unaffected.
"Despite these unfortunate events around our vicinity, our operations in Solan continue as normal. We are closely monitoring the weather conditions, and are taking contingency steps at the plant to ensure the safety and health of our employees," said Mr. Rajeev Ranjan, CFO.
Shivalik Bimetal Controls was quoting at Rs 679.95, up Rs 7.50, or 1.12 percent on the BSE.
Stock Market LIVE Updates | Max Life partners with DCB Bank to offer a comprehensive range of life insurance solutions
Max Life Insurance Company announces its partnership with DCB Bank. Through this collaboration, Max Life and DCB Bank will provide a variety of life insurance products to the Bank's customers, including term, savings, and retirement plans, allowing them to protect their financial future and expand their investment portfolio.
Sensex Today | Gold struggles for momentum as traders await US inflation data
Gold gained on a weaker dollar on Tuesday but struggled for momentum, as investors were wary of placing big bets ahead of U.S. inflation data that could influence the Federal Reserve's policy trajectory.
Spot gold rose 0.3% to $1,931.62 per ounce by 0717 GMT. U.S. gold futures were also up 0.3% to $1,937.10.
Stock Market LIVE Updates | CLSA View On Bharti Airtel
-Buy rating, target at Rs 1,030 per share
-India’s cloud market of USD 6 billion is likely to triple in five years to USD 17.8 billion
-Company has been boosting capabilities in cloud services with growing partnerships
-Subsidiary Nxtra targets to triple data centre capacity to over 400 MW by 2025
-Cloud & data centres will boost ‘Airtel Business’ growth & add upside potential
| Company | CMP | Chg(%) | 3 Days Ago Price |
|---|---|---|---|
| Xchanging Sol | 117.65 | 27.60 | 92.20 |
| Premier Explo | 590.55 | 23.33 | 478.85 |
| PC Jeweller | 35.90 | 20.88 | 29.70 |
| Mirc Electronic | 21.40 | 19.89 | 17.85 |
| Swastik Pipe | 105.40 | 19.77 | 88.00 |
| Indo-National | 450.00 | 15.79 | 388.65 |
| CarTrade Tech | 573.00 | 15.71 | 495.20 |
| Refex Ind | 633.45 | 15.67 | 547.65 |
| Pokarna | 430.00 | 14.30 | 376.20 |
| Hisar Metal | 164.05 | 13.92 | 144.00 |
Sensex Today | Oil rises on OPEC+ cuts, weaker dollar
Oil prices edged higher on Tuesday, recouping some of the losses from the previous session, as traders focused on supply cuts by the world's biggest oil exporters Saudi Arabia and Russia and a weaker dollar.
Brent crude futures rose 31 cents, or 0.4%, to $78 a barrel by 0626 GMT, and U.S. West Texas Intermediate crude was up 35 cents, or 0.5%, at $73.34.
Sensex Today | Market at 1 PM
The Sensex was up 453.18 points or 0.69% at 65,797.35, and the Nifty was up 134.10 points or 0.69% at 19,490.00. About 1916 shares advanced, 1243 shares declined, and 119 shares unchanged.
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Eicher Motors | 3,253.55 | 2.51 | 900.50k |
| Apollo Hospital | 5,255.10 | 1.88 | 346.03k |
| Maruti Suzuki | 9,916.00 | 1.85 | 321.90k |
| Sun Pharma | 1,063.25 | 1.75 | 2.43m |
| Britannia | 5,113.00 | 1.61 | 198.40k |
| Power Grid Corp | 253.55 | 1.42 | 3.03m |
| Cipla | 1,031.10 | 1.42 | 526.71k |
| Larsen | 2,472.75 | 1.39 | 758.11k |
| Infosys | 1,347.20 | 1.36 | 3.27m |
| Tech Mahindra | 1,162.55 | 1.34 | 724.90k |
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| UPL | 647.50 | -1.91 | 2.79m |
| JSW Steel | 802.00 | -1.06 | 1.45m |
| HCL Tech | 1,113.55 | -0.97 | 2.93m |
| Hero Motocorp | 3,101.45 | -0.71 | 450.47k |
| Hindalco | 425.40 | -0.57 | 1.79m |
| Axis Bank | 962.10 | -0.2 | 4.67m |
| Wipro | 389.55 | -0.1 | 2.62m |
| Bajaj Finance | 7,529.20 | -0.05 | 741.00k |
| SBI | 592.35 | -0.04 | 7.50m |
| UltraTechCement | 8,350.00 | -0.02 | 150.34k |
Stock Market LIVE Updates | Nippon India Mutual Fund picks 0.63% stake in Cyient DLM
Nippon India Mutual Fund via Power & Infra Fund has bought 5 lakh shares or 0.63% stake in Cyient DLM via open market transactions at an average price of Rs 403 per share. Nippon Life India Trustee Ltd - A/C Nippon India SMA already held 1.14% stake in Cyient DLM.
Sensex Today | BSE FMCG index gained 1 percent supported by Manorama Industries, Mrs. Bectors Food Specialities, Parag Milk Foods:
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Manorama Indust | 1,686.50 | 5 | 851 |
| Bectors Food | 829.65 | 4.77 | 4.44k |
| Parag Milk Food | 136.30 | 4.73 | 36.20k |
| Kaveri Seed | 573.15 | 4.2 | 6.58k |
| DCM Shriram Ind | 83.00 | 4.01 | 23.17k |
| Kokuyo Camlin | 127.50 | 3.79 | 60.14k |
| Nath Bio-Genes | 223.15 | 3.77 | 11.60k |
| Tilaknagar Ind | 150.50 | 3.65 | 39.20k |
| Hatsun Agro | 973.75 | 2.7 | 5.02k |
| Globus Spirits | 1,264.10 | 2.64 | 10.09k |
Stock Market LIVE Updates | Gujarat Pipavav Port Q1 container volume grows 6.4% YoY to 1,99,000 TEUs
Gujarat Pipavav Port has recorded a 6.4% year-on-year growth in container volume at 1,99,000 TEUs (twenty-foot equivalent unit) for Q1FY24.
Stock Market LIVE Updates | Tega Industries appoints Sharad Kumar Khaitan as Chief Financial Officer
Tega Industries has appointed Sharad Kumar Khaitan as Chief Financial Officer with effect from July 10.
Tega Industries was quoting at Rs 1,015.35, down Rs 32.50, or 3.10 percent.
Stock Market LIVE Updates | Bain Capital in talks to buy ice cream maker Vadilal, say sources; company issues clarification
Vadilal Industries has received buyout interest from a private equity firm Bain Capital, sources with direct knowledge of the matter said. Bain Capital is eyeing a controlling stake in the combined entity of Vadilal Industries, Vadilal Enterprises and Vadilal brand. The deal talks value the ice cream maker at over Rs 3,000 crore. However, Vadilal Group clarified saying there is no information which has not been informed to stock exchanges.
Stock Market LIVE Updates | Elecon Engineering Company Q1 Results
Elecon Engineering Company has posted 72.6 percent jump in its Q1 net profit at Rs 73 crore versus Rs 42 crore and revenue was up 26.4% at Rs 414.3 crore versus Rs 327.7 crore, YoY.
| Company | 52-Week High | Day’s High | CMP |
|---|---|---|---|
| Mazagon Dock | 1588.75 | 1588.75 | 1,588.75 |
| PCBL | 178.25 | 178.25 | 171.80 |
| Polycab | 3745.00 | 3745.00 | 3,733.70 |
| Mishra Dhatu Ni | 320.60 | 320.60 | 319.55 |
| PNB Housing Fin | 629.90 | 629.90 | 628.15 |
| Minda Corp | 307.75 | 307.75 | 304.30 |
| Krishna Inst. | 1857.00 | 1857.00 | 1,851.95 |
| Rainbow Child | 1069.00 | 1069.00 | 1,068.20 |
| Kalyan Jeweller | 174.05 | 174.05 | 169.45 |
| ABB India | 4521.35 | 4521.35 | 4,509.00 |
Stock Market LIVE Updates | Motherson Sumi Wiring appoints Mahender Chhabra as CFO
Motherson Sumi Wiring India, a joint venture company of Samvardhana Motherson International and Sumitomo Wiring Systems has received approval from its board of directors for appointment of Mahender Chhabra as Chief Financial Officer. Chhabra's appointment as CFO is with effect from July 10.
Motherson Sumi Wiring India was quoting at Rs 58.80, up Rs 0.95, or 1.64 percent.
Zen Technologies announced a significant order win in the export markets. The order is valued at approximately Rs 340 crores (~ 41.5 million USD).
