Sensex snaps 4-day losing run, up 345 pts; Nifty tops 16K; Auto, FMCG lead

CLOSING BELL: Tata Consumer Products, Titan, Eicher Motors, HUL, Tata Motors, Maruti, M&M, Nestle India, HDFC, L&T, and BPCL topped the charts

4:10 PM

Nifty tech view: Index may move towards 16,200 in short-term

The index remained sideward as it had been a lackluster session on the last day of the week.

However, the index was able to reclaim the 16,000 mark at the end. The momentum indicator has ended with a bullish crossover.

Over the short term, the index may move towards 16,170-16,200. On the lower end, support is visible at 15,900-15,850.

Views by Rupak De, Senior Technical Analyst at LKP Securities.

4:08 PM

Closing view: Slower FII selling, fall in crude added optimism

Volatility has re-emerged and investors have turned their focus on upcoming Fed policy in the backdrop of heightened US inflation.

Fall in crude prices and reduction in FII selling added optimism to the domestic market while gloomy IT results, depreciating rupee and fear of global recession are restricting sizeable up move.

In addition to the Fed policy, the domestic market's near-term momentum will be influenced by ongoing quarterly earnings.

Views by Vinod Nair, Head of Research at Geojit Financial Services.

4:05 PM

Rupee strengthens 2 paise to close at 79.86/$

4:03 PM

Cipla edges 1.6% up on pact to buy Endura Mass

 

3:58 PM

Syngene Int soars 4%; signs 10-year biologics mfg agreement with animal health co Zoetis

 

 

3:56 PM

Borosil rises 2% as co approves Rs 1,100 crore fund raise

 

3:54 PM

Federal Bank ends higher on reporting 64% YoY rise in PAT at Rs 600.6 cr

 

3:52 PM

Repco Home board approves raising up to Rs 4,000 cr via NCDs

 

 

3:48 PM

Nifty Auto, FMCG top sectoral winners; IT, Metals, PSBs sole drags

 

3:47 PM

Nifty Auto, FMCG top sectoral winners; IT, Metals,

3:46 PM

Midcaps firmly outshine broader market peers, largecaps

 

3:44 PM

Nifty losers: Tata Steel, HCL Tech, Power Grid, Wipro slip most

 

3:43 PM

Nifty gainers: Tata Consumer, Tata Motors, L&T additional winners

 

3:40 PM

Sensex heatmap: Only 11 stocks fall; HUL, Titan top winners

 

3:39 PM

Closing Bell: Nifty rises to 16,050; only 15 index stocks decline

 

3:38 PM

Closing Bell: Sensex gains after 4 days; ends 345 pts up in choppy session

 

3:30 PM

Global update: European markets edge higher in early deals

source: finance.yahoo.com

3:22 PM

India's growth prospects embedded in public capex programmes: Sitharaman

Finance Minister Nirmala Sitharaman on Friday said India's long-term growth prospects are embedded in public capital expenditure programmes. Read here

3:12 PM

Rupee at lifetime low to hit imports, overseas education, travel

The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. Read here

3:01 PM

Market Check :: Top gainers on the BSE at this hour

2:54 PM

Commodity Heatmap :: Gold, Silver slide; Crude up 1%

2:45 PM

Bond market update :: Yields on 10-yr G-Sec above 7%-mark

2:35 PM

Q1 earnings :: BEL, HDFC Bank, ICICI Pru among companies slated to report nos on Saturday, July 16

2:28 PM

Swapping batteries: How India is moving ahead with adoption of EVs

Across the Indian capital’s dense localities, battery swapping stations are becoming a frequent site at local provision stores and small retail outlets. Meanwhile, the government has pushed out an EV battery swapping policy draft in recent months to bolster adoption and supply. It’s also scouting sites along India’s emission-heavy highways for new stations for swapping and charging. READ MORE

2:17 PM

Brokerage Call | Edelweiss Securities maintains 'Hold' on Tata Steel Long

>> TSLP’s Q1FY23 EBITDA missed our estimates due to higher cost, a harbinger for the ferrous results to follow. That said, we believe that with NINL acquisition now complete, TSL can focus on furthering its long term strategy of a substantial long products portfolio with TSLP driving the same.

>> Surplus land, captive iron ore mines and proximity to KPO are the key advantages that would aid TSL realise its aspirations for building a long products business, including branded products, downstream solutions and speciality high-end products.

>> In the near term, we remain circumspect on the stock owing to spreads still not having bottomed out and subdued domestic demand. We maintain ‘HOLD’ on TSL with an unchanged TP of INR985 (5.1x Q2FY24E EBITDA). 

2:10 PM

Brokerage Call | Sharekhan trims target on LTI to Rs 4,750

2:00 PM

Brokerage Call | Price hikes awaited: JM Fin on ACC

>> We expect little relief in power and fuel cost will continue to have negative impact on margins in 3Q.

>> ACC’s efforts to narrow the cost gap with peers (WHR capacities, efficiency parameters and synergies through MSA) while focusing on growth augur well.

>> We continue to value ACC at 11x EBITDA. We maintain BUY with a revised target price of INR 2,300 (Dec’22). 

1:53 PM

Brokerage Call | Micro-macro economy divergecne driving valuation correction: JM Fin on LTI

>> While we make slight adjustments to FY23E EPS, our FY24/25E EPS see 3-4% cuts on growth moderation.

>> We revised TP for LTI/MTCL to INR 4,400/3,200 (V/s INR 4,500/3,290 earlier) based on unchanged 25x Proforma earnings for the merged ‘LTI-Mindtree’. HOLD stays.

>> Results till date continue to confirm the ‘Micro V/s Macro’ disconnect with commentary across most companies remaining confident about near term strength even asinvestors/street continue to worry about growth impairment due to macro hit.

>> This continues to drive correction in valuation multiples even as earnings cut remain limited for now. 

1:44 PM

22 states, UTs see rise in inflation, despite marginal reduction overall

This means that less than 40 per cent of states and UTs saw a lower inflation rate in June than in May. The National average stood at 7.04 per cent in May. READ MORE

1:36 PM

BSE 500:: Volume Shockers

PB Fintech has witnessed unusually high volume of around 2 million shares on the BSE as against its five-day average volume of around 22,675-odd shares. Similarly, Honeywell Auto, Metro Brands, Timken India and eClerx Services have also witnessed a significant spike in volume in trades so far on Friday.