Sensex up 873 pts at 53,823; Nifty near 16,150; BSE m-cap tops Rs 240 trn

Amid a steep rally, investors got richer by Rs 2.4 trillion, BSE data showed

4:33 PM

MARKET VIEW :: Nagaraj Shetti, Technical Research Analyst, HDFC Securities

A long bull candle was formed on the daily chart that indicate a sharp upside breakout of the two months sideways range of around 15960 levels. This is positive indication and signal more upside in the near term. The present upside breakout of 16K mark is likely to open a new uptrend for the market. Any consolidation or minor dips from here could be a buy on dips opportunity in the market. The upside breakout area of 15960-15900 is expected to offer a strong support for the market from here, as per the concept of change in polarity.

 

Nifty on the weekly chart has started to show a decisive upside breakout of the larger range at 16K mark. The formation of long lower shadow in the last three weeks hinted an early indication of upside breakout of the sideways range. Hence, one may expect some more upside in this intra-week to end up with decisive upside breakout as per long term charts.

 

Conclusion: The short term trend of Nifty seems to have turned up sharply. The much awaited upside breakout of broader  high low range at 15960 could signal more upside for the Nifty ahead. The next upside levels to be watched around 16300-16500 in the next 6-8 sessions. Important support is placed at 15960-16000 levels.

4:28 PM

TECH VIEW | Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market witnessed some strong trends and after overcoming the resistance level around the Nifty 50 Index level of 16000. While sustaining above 16000 is the key factor from a short-term perspective, maintaining above this level is important for market to gain momentum and extend the rally until 16200. The momentum indicators like RSI and MACD to stay positive and market breadth to improve, further strengthening a short-term bullish outlook.

 

4:12 PM

Nifty at 16K :: Market closing view

Nifty today finally managed to break its two month long consolidation to touch the most awaited level of 16k. It had shown strong resilience since the start of June and moved in a very narrow range despite weak global cues and finally managed to leap forward towards 16000 zone. What really provided support to the market was the 1QFY22 earnings report which begun on a very healthy note despite the Covid 2.0 impact. It helped the market to largely sail through the headwinds of a possible third COVID wave, commodity led inflation and volatility around the US Fed taper talk. The damage from the second COVID wave and the consequent lockdowns in April'21/May'21 has been much lesser than that from the 1QFY21 national lockdown. Management commentaries across the board suggest an improved demand environment post June'21, led by the easing of restrictions, lower active COVID-19 cases, and a pickup in vaccinations. We estimate corporate earnings to continue to recover, as the underlying economy opens up, with progressively higher vaccination trends, thus offering many bottom-up opportunities.

-- Sneha Poddar, AVP – Research, Broking & Distribution, Motilal Oswal Financial Services

3:56 PM

CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Progressive economic data, indicates strong rebound from impact of the second wave. All major domestic data like PMI index, GST collection, corporate earnings, export data, etc favour a strong recovery. This has added euphoria in domestic market reaching new highs along with context to a drop in global risk after the accommodative monetary & fiscal policy announcements. A similar monetary policy is expected from ongoing RBI meeting.

3:56 PM

HDFC extends gains post Q1 results

3:53 PM

Vodafone Idea tanks over 10%

3:51 PM

Titan gains 4% ahead of Q1 earnings

3:50 PM

Airtel jumps 3% ahead of June quarter numbers

3:48 PM

Earnings Impact :: Dabur India gains 2% on strong Q1 show

Dabur India reported a net profit of Rs 438.3 crore for the quarter ended June 2021, up 28.4 per cent as compared to Rs 341.3 crore in the year-ago period. 

 

3:44 PM

BSE market capitalisation zooms past Rs 240 trillion

3:43 PM

India VIX surges over 7%

The volatility indicator India VIX jumped 7.36% to 13.74 

3:42 PM

Nifty FMCG biggest sectoral gainer with a near 2% gain

>> Here are the top gainers & losers from the FMCG pack

3:41 PM

Sector Watch | Barring Nifty Media & Metal, all sectoral indices in the green

3:39 PM

BSE Midcap index recoups losses, ends in the green

>> The index had hit all-time high in trade earlier

3:38 PM

BSE Smallcap index underperforms Sensex, gains 0.23%

>> Index had hit all-time high of 27,232.23 in trade today

3:36 PM

Sensex Heatmap | Top gainers & losers at close

>> Top gainers: Titan, HDFC, Nestle, IndusInd Bank

>> Top losers: NTPC, Bajaj Auto, Tata Steel

3:33 PM

CLOSING BELL: Sensex, Nifty end at record highs

BSE Sensex closed the day at fresh record closing high of 53,823.36, up 872.73 points or 1.65 per cent. Meanwhile, Nifty50 ended 245.60 points or 1.55 per cent higher at record close of 16,130.75. Both indices scaled fresh record highs in trade earlier. Sensex touched 53887.98 while Nifty moved past Mt 16,000 to all-time high of 16,146.90. 

3:30 PM

June Quarter Results :: Shipping Corporation of India

>> Consolidated net profit down 53% YoY at Rs 158.5 crore
 

>> Cons revenue slips 10.1% YoY at Rs 1,028 crore
 

>> Cons Ebitda down 33.6% YoY at Rs 335.3 crore
 

>> Cons Ebitda margin at 32.6% vs 44.2% (YoY)

3:21 PM

Global markets :: US stock futures trade in the green

3:15 PM

EXPERT TAKE :: Arun Malhotra, Founder & CIO, CapGrow Capital Advisors LLP on markets' fresh record highs

Markets are buoyant and the large caps have started moving up. Majority of the buoyancy in the last 3 months have been witnessed in small and midcaps that are due for correction. The Q1FY22 results have been descent and will keep the market steady. A shift from small cap to large caps seems to be the trade right now.

3:08 PM

BSE m-cap hits fresh record of Rs 240 trillion

2:56 PM

Ashok Leyland hits over 2-year high on July sales data; up 18% in 4 days

The stock of Hinduja Group company was trading higher for the fourth straight day, having rallied 18 per cent during the period. The market price of commercial vehicle (CV) manufacturer had hit a record high of Rs 168 on May 8, 2018. READ MORE

2:44 PM

Bulls eye 16,100 on Nifty!

>> Index clocks biggest intra-day gain since May 21

2:41 PM

MARKET VIEW :: What to expect from RBI's August monetary policy?

The MPC meets at the cusp of a visibly sticky inflation, nudging growth phase and a fluid pandemic situation world over. The central banker is mostly likely to maintain a status quo on rates  being mindful of growth and wait for more data points on inflation front. There could be some steps towards normalisation of liquidity via increased tenor and/or quantum of VRRR (variable rate reverse repo) – something which bond markets seem to be anticipating.

Views by: Lakshmi Iyer, CIO (Debt) & Head Products, Kotak Mutual Fund

2:33 PM

Q1 earnings: Adani Ports

>> PAT: Rs 1342 crore

>> Revenue: Rs 4557 crore

>> 83% growth in cargo colume

>> Port EBITDA margins improve to 71%

2:13 PM

NEWS ALERT :: Indian stocks driven by expectations of future economic growth, says Finance Minister

>> Market volatility reduced considerably since March 2020: FM

 

>> Govt, RBI, SEBI continuously monitoring financial markets: FM

 

>> Not seeing surge in MSME insolvencies: FM

Source: Agenices
 

2:09 PM

Q1 earnings :: Dabur Ltd

>> PAT: Rs 438 crore

>> Revenue: Rs 2,611 crore

>> Margn: 21.1%

>> Volume growth: 34.4%

1:51 PM

Vodafone Idea breaks 100-WMA, hits Rs 7.26-mark. What's next for the stock?

Likely target: Rs 6 and Rs 5.50 (if stock closes below 100-WMA)

 

Downside potential: 20% - 25%

 

This is the first time the counter has broken 100-weekly moving average (WMA), currently placed at Rs 7.95, with active price momentum on a year-to-date (YTD) basis. This move, which seems to gain on volumes, has further pushed stock to 52-week low of Rs 7.60. In case the stock decisively closes below 100-DMA, the price action may enter in a bearish sentiment and drift lower towards Rs 6 and Rs 5.50 levels, indicating a downfall of nearly 25 per cent. READ MORE

1:39 PM

Titan Company gains 5%, hits new high ahead of June quarter results

Titan saw good sales momentum during the first couple of weeks of Q1FY22. However, with the rising second wave of Covid-19, stores were gradually closed down by end-April with some unlocking in a few states in June, 2021.

 

Despite this, Titan Company highlighted that Q1FY22 saw good traction in new customers, recovery in the mix of buyers to pre-pandemic levels and growth in Golden Harvest enrolments year on year (YoY). Though the expansion got delayed due to lockdowns, Titan added 5 new stores with a space addition of ~20k sqft in Q1. READ MORE

 

 

1:25 PM

Falguni Nayar gets her turn as billionaire startup CEO with Nykaa IPO

For years, Falguni Nayar guided the founders of Indian companies through roadshows in Europe and the US as they made their way to stock market debuts. Now the former investment banker is steering her own startup to an historic initial public offering. Nykaa, her brainchild, has grown into India’s top e-commerce site for beauty products, with the endorsement of Bollywood stars and a fervent following among twenty-somethings. The startup, formally known as FSN E-Commerce Ventures Ltd., filed preliminary documents late Monday for an initial public offering, which Bloomberg News has reported could value the business at more than $4 billion. READ MORE