Sensex see-saws 325 pts, ends 19 pts down; banks gain; Tata Motors drops 9%

In the broader markets, the BSE MidCap index settled 0.12 per cent higher while the BSE SmallCap index closed 0.26 per cent lower

5:15 PM

MARKET VIEW :: Bullish sentiment intact but traders should stay cautious

Key benchmark indices witnessed volatile trading sessions near 15,900 / 53,100 resistance level. Today, post muted opening, the index quickly surpassed  15,850/52,900 resistance level but once again it failed to sustain above 15,900/53,100 and due to constant profit booking at higher level. It erased all intraday gains in the second half of the day and after a highly volatile trading session finally closed at 15,818/52,861.

On the domestic front, the Bank Nifty and Financial index outperformed and rallied over 1.25 per cent. However, profit booking was seen in Auto and IT stocks. We are of the view that bulls are still in total control but intraday chart indicates that traders may prefer caution near 15,925/53,200 resistance level.

Technically, the short-term structure of the market is still bullish. However, on a daily chart,  the Nifty/Sensex has formed a Gravestone Doji candlestick kind of pattern, which indicates short-term weakness.

In the near future, 15870/ 52900 should be the key level to watch out. Below the same, correction wave is likely to continue up to 15,775-15,720/ 52,850-52,500 levels. On the flip side, if the market succeeds to trade above 15,870 /52,900, we can expect continuation of the uptrend wave till 15,925-15,965/ 53,200-53,400 levels

Views by: Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities

4:59 PM

TECH VIEW :: Nagaraj Shetti, Technical Research Analyst at HDFC Securities

The short term uptrend of Nifty seems to have encountered profit booking around 15,900 levels again. Further weakness on Wednesday could confirm negative reversal and that could open another round of downward correction in the market from highs. A move above doji at 15915 could only negate this bearish pattern. Immediate support is placed at 15730.

4:44 PM

MARKET VIEW :: Selling pressure emerging at 15,850 levels

ndian benchmark equity indices ended minorly in the negative on July 6 after once again facing resistance at 15915 levels. The Nifty opened flat, rose during the earlier part of the day to make an intra day high at 1350 Hrs. It fell later to end almost at the opening and intra day low levels. At close, the Nifty was down 16.10 points or 0.10% at 15818.30.

 

Volumes on the NSE were higher than recent averages. Among sectors, Power & Banks gained the most while Auto, IT and energy were the main losers. BSE midcap index ended marginally higher, while smallcap index fell 0.26 percent.

 

Nifty corrected mildly after a two day rise. This happened with higher volumes. Nifty also made a double top at 15914 levels. On daily charts it has made a bearish inverted hammer like pattern. Hence at 15850+ levels, a lot of selling pressure seems to be emerging from investors. 15738 is the support for the Nifty in the near term while 15915 continues to be resistance.  

Views by: Deepak Jasani, Head of Retail Research at HDFC Securities

4:28 PM

MARKET RECAP :: Vinod Nair, Head of Research at Geojit Financial Services

Indian market was led by financial stocks, business updates of major Banks and NBFCs for the quarter of June which showed improvement in business activity, minimising concerns over second wave impact. But profit-booking breached the overall market by the end of the day. Globally, oil prices surged after OPEC called off talks to boost production despite rising global demand

4:18 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

The Nifty index witnessed profit booking in the second half and closed the day at 15,817. The index formed a "Doji candle pattern" on the daily chart, showing indecisiveness.

The index again faced hurdle at 15,900 zone and witnessed sharp profit-booking at the level.

Only a close above 15,900 can show a stronger positive momentum. Support is still placed at 15,775- 15,700 zone and we may see some swift bounce from the mentioned levels

 

4:10 PM

MARKET RECAP :: S Ranganathan, Head of Research at LKP Securities

Indices gave up gains in afternoon trade as investors encashed on the outperformance of Small & Midcap stocks since last few months as both these indices are trading at highs in absolute terms. Cement stocks quite clearly bucked the trend today and stocks in both largecap & midcap segments posted handsome gains

3:58 PM

BSE Snapshot

3:49 PM

NSE Snapshot :: Top Nifty50 gainers of the day

3:48 PM

Stocks that dragged the Sensex lower today

3:46 PM

BSE SmallCap index ends 0.3% down

3:44 PM

BSE MidCap index ends 0.2% up; AU SFB, Adani Group stocks rally

3:41 PM

Sectoral trends on the NSE

3:40 PM

Sensex Heatmap at Close

3:33 PM

CLOSING BELL

The 30-share BSE barometer dropped 268 points from the record peak of 53,129, touched earlier today, to settle at 52,861 levels, down 19 points or 0.04 per cent. 

On the NSE, the broader Nifty50 declined 16 points, or 0.10 per cent, to end at 15,818 levels.

3:21 PM

Gold tops $1,800/oz mark as dollar slips; focus on Fed minutes

Gold rose above the $1,800/ounce psychological level on Tuesday to hit a three-week high, as a pullback in the dollar lifted bullion demand, while investors awaited minutes from the U.S. Federal Reserve's June meeting for clarity on monetary policy.

 

Spot gold climbed 0.7% to $1,804.50 per ounce by 0652 GMT, after touching its highest level since June 17. READ MORE
 

3:09 PM

MARKET CHECK :: Indices erase gains

3:06 PM

Q1 business update :: Bank of Maharashtra

2:57 PM

Tata Motors dips 10% from day's high as JLR eyes negative EBIT margin in Q2

Shares of Tata Motors declined 10 per cent from the day's high of Rs 358.10 and were quoting 7 per cent lower at Rs 323 on the BSE in intra-day trade on Tuesday after its UK subsidiary Jaguar Land Rover (JLR) said it expects an operating cash outflow of about £1 billion, with negative earnings before interest tax (EBIT) margin in the second quarter ended September 2021 (Q2FY21), due to the supply constraints. READ MORE

2:56 PM

June GST collection at Rs 92,849 crore, up 2% YoY

>> GST collections fall below Rs 1 lakh crore in June due to Covid lockdown impact

 

>> First fall seen in GST collections in 9 months

2:55 PM

Tata Motors recovers mildly after hitting 10% lower circuit

2:44 PM

Fall from intra-day high today in BSE500 stocks

COMPANY	DAY'S HIGH(RS)	DAY'S LOW(RS)	LATEST(RS)	FALL(%)
Tata Motors	358.10	312.00	313.25	-12.52
Tata Motors-DVR	160.50	144.80	146.10	-8.97
AAVAS Financiers	3068.30	2698.30	2824.05	-7.96
Avanti Feeds	675.00	620.15	622.80	-7.73

2:33 PM

RBI to conduct Rs 20,000 crore open market bond purchase on July 8

The Reserve Bank of India (RBI) will conduct open market purchase of government bonds worth Rs 20,000 crore under the G-sec Acquisition Programme (G-SAP 2.0) on July 8. The RBI said in a statement that it reserves the right to decide on quantum of purchase of individual securities, accept bids for less than the aggregate amount, purchase marginally higher/lower than the aggregate amount due to rounding off and accept or reject any or all the bids either wholly or partially without assigning any reasons. READ MORE

2:24 PM

Indices see sudden profit-booking; Sensex up 90 pts

2:22 PM

Stocks that hit 52-week high on BSE today

Company	PRICE(rs)	52 WK HIGH	CHG(%)
AAVAS Financiers	2865.00	3068.30	6.97
Ajanta Pharma	2164.75	2185.70	0.58
Alkem Lab	3312.95	3322.00	2.03
Ambuja Cements	351.70	360.00	3.37
Astral	2061.00	2069.60	0.60

2:11 PM

Indian bond yields spike to near 4-month highs; crude surge hurts

Indian bond yields jumped on Tuesday as a rally in global crude oil prices raised worries about higher imported inflation, while a selection of papers for this week's bond buyback by the central bank also disappointed investors.

 

The most-traded 6.64% 2035 bond was up 6 basis points at 6.79%, while the second-highest traded 5.63% 2026 paper rose 7 bps to 5.83%. Both bonds were trading at levels last seen in mid-March. READ MORE

2:02 PM

MARKET CHECK :: Sensex hits fresh record high of 53,129

2:00 PM

Tata Motors up 3%, nears 52-wk high on report co may hike soon hike prices

Shares of Tata Motors gained 3 per cent to Rs 355.50 on the BSE in the intra-day trade on Tuesday on report that the company would undertake a price increase in its passenger vehicles (PV) portfolio to pass on some of the increase in input costs of materials, such as steel and precious metals, to customers. The quantum of the hike, however, has not yet been disclosed. The stock of the Tata Group commercial vehicles' company was trading close to its 52-week high of Rs 360.65 touched on June 15, 2021. READ MORE

1:54 PM

NEWS ALERT :: JLR Q1 retail sales at 124,537 vehicles, up 68% YoY

1:47 PM

European markets check

(Source: Reuters)

1:36 PM

Wonderla Holidays zooms 26% in two days on reopening of Bangalore resort

The stock price of Wonderla Holidays, India’s largest Amusement park chain, surpassed its previous high of Rs 234.50 touched on March 10, 2021. At 12:56 pm, it was trading 18 per cent higher at Rs 266 on the back of a 10-fold jump in trading volumes. A combined 3.8 million shares had changed hands on the counter on the NSE and BSE at the time of writing this report. READ MORE