Sensex gyrates 294 pts, ends 19 pts down; Nifty holds 15,900; IT, banks dip

The mid- and small-cap indices meanwhile, outperformed and ended over 0.4 per cent higher each

4:05 PM

MARKET CLOSING COMMENTS :: Deepak Jasani, Head of Retail Research, HDFC Securities

Indian markets ended almost flat on July 16 even as interest returned to largecaps and volumes expanded. After making new intra day highs, mixed Asian and European markets weighed on the local markets. IT stocks came under profit booking despite encouraging numbers from Infosys and Wipro. Realty, Metals and Telecom stocks gained.  New age companies like IRCTC, BSE, ICICI Sec, CDSL, Angel Broking etc attracted fresh buying as investors were willing to bet on their long term growth trajectory. Zomato’s IPO got oversubscribed comfortably on the last day.

 

Nifty has found it difficult to breach 16000. Sectoral rotation could continue while select stocks could attract buying based on news and developments. On a weekly basis, Nifty has ended with a 1.49% gain after two weeks of losses. The coming week will witness more Q1 results (key among them being ACC, HCL Tech, Asian Paints, Bajaj Finance, Bajaj Auto, HUL, JSW Steel, ICICI Bank, ITC) and the stocks could react to these announcements.  The indices could continue to edge upwards in the coming week which is a truncated week with a holiday on Wednesday. Retail investors could do a bit of reshuffling from the smallcaps into mid and largecaps. 

3:53 PM

Tech View :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index opened a day with gap up but saw some profit booking since the start of the day and closed a day at 15923. It seems the index has retested its breakout zone and is all set to move northwards, supports are shifted to 14850-14800 zone holding above said levels structure positive & any dip around said levels will be again buying opportunity with keeping stop out levels below 14770 zone and resistance is coming near 15960-16000 zone above 16k mark we may see the good move.

3:52 PM

MARKET VIEW :: Vinod Nair, Head Of Research at Geojit Financial Services

Indian market opened with gains however failed to maintain and ended flattish as profit booking was triggered in major sectors barring pharma. Buying interest was seen in the Pharma sector in anticipation of strong Q1 results. The risk of profit booking is rising due to elevated performance and lack of direction from the western developed markets with flat performance recently. FIIs continue as net sellers in the domestic equity market during the past few days.

3:51 PM

Tatva Chintan IPO subscribed 4 times on Day 1 itself

3:51 PM

Zomato IPO subscribed 38 times by 3.45 pm

-- The issue closes today

3:49 PM

Cyient hits 52-week high in intraday, ends 12% up

3:48 PM

Kitex Garments slips for 2nd day in a row

3:46 PM

Wipro ends flat after hitting new high on healthy June quarter performance

3:45 PM

Angel Broking surges 20% post Q1 show

>> In Q1FY22, Angel Broking’s net profit more-than-doubled at Rs 121.4 crore from Rs 47.3 crore in Q1FY21. On a sequential basis, profit grew 19 per cent from Rs 101.9 crore in Q4FY21. Gross revenues grew 92 per cent year-on-year and 13 per cent quarter-on-quarter at Rs 474.50 crore.

 

3:40 PM

BSE Midcap index ends 0.45% higher

-- The index hit fresh record peak of 23151.67 in intra-day

3:39 PM

BSE Smallcap index clocks another strong day

- The index had hit record high of 26510.32 in trade

3:37 PM

India VIX eases over 4.5%

The volatility index India VIX settled at 11.7, down 4.6 per cent

3:36 PM

Sector Watch :: Nifty IT, Nifty Private Bank decline the most

3:35 PM

Sensex Heatmap :: Top gainers & losers at close

3:33 PM

CLOSING BELL: Sensex snaps 2-day winning run; Nifty ends flat

BSE Sensex ended its two-day winning streak and settled at 53,140, down 19 points or 0.04%. Its NSE counterpart Nifty50 closed the day 0.80 points or 0.01 per cent lower at 15,923.

3:23 PM

Heatmap :: BSE SmallCap index

3:14 PM

Oil prices decline, heading for biggest weekly drop since month of May

Oil prices fell on Friday, heading for their biggest weekly drop since at least May as expectations of more supplies spooked investors, with OPEC likely to add output to meet a potential revival in demand as more countries recover from the pandemic. Brent crude for September was down 37 cents at $73.10 a barrel by 0650 GMT, heading for a 3.2% fall this week after two days of heavy declines. This will mark Brent's biggest weekly drop since May. READ MORE

2:54 PM

IRCTC rallies 20% in July so far amid expectations of improved outlook

The stock of the travel support services company has rallied 20 per cent so far this month after the company announced resumption of two Tejas Express trains from August 7. On July 9, the company said that the Lucknow-New Delhi and Ahmadabad-Mumbai Tejas Express train service will resume from August 7 for four days a week. In comparison, the S&P BSE Sensex was up 1 per cent in past 12 trading days of July month. In past three months, the scrip has surged 50 per cent, as against a 9 per cent gain in the benchmark index. READ MORE

2:34 PM

HCL Tech Q1 preview: Analysts see 6-11% YoY PAT growth, strong deal win

HCL Technologies' June quarter (Q1) performance is likely to be impacted due to supply-side challenges amid the second Covid-19 wave, with revenue expected to grow between 1.6 per cent and 2 per cent in constant currency (CC) terms. The net profit could rise in the range of 6-11 per cent year-on-year on a 14 per cent growth in revenue (rupee terms). READ MORE

2:13 PM

BUZZING :: IRCTC jumps 7% in a weak market

2:02 PM

Zomato IPO update :: Issue subscribed 17x so far

1:52 PM

Paytm set to break into top 10 most-valued financial stocks in India

According to investment banking sources, the company is looking at a valuation of between $20 billion and $25 billion in the initial public offering (IPO).

 

One97 Communications, parent company of Paytm, on Friday filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India. The company is looking to raise Rs 8,300 crore by issuing fresh shares in its maiden stock market offering. READ MORE

1:33 PM

MARKET VIEW :: Likhita Chepa, Senior Research Analyst, CapitalVia Global Research

We witnessed some lackluster movement in the market and an attempt to hold the support level around the Nifty 50 Index level of 15900 While sustaining above 15900 is the key factor from a short-term perspective, our research suggests maintaining above this level is important for the market to gain momentum and extend the rally until 16200.

1:27 PM

Datamatics Global Services hits new high after 17 yrs; stk up 43% in 2 days

On Monday, July 12, Datamatics, announced that Aabhas Zaveri has been appointed as Senior Vice President – Sales, Intelligent Automation. Zaveri will lead the business for Datamatics Intelligent Automation products, including TruBot, TruCap+, and TruBI, the company said in a press release. READ MORE

1:10 PM

NEWS ALERT :: JMC Projects secures new orders of Rs 1,624 cr

12:58 PM

Nitin Spinners soars 18% in 3 days as CARE revises rating outlook to stable

In past three months, the stock of textiles company zoomed 126 per cent, as compared to 9 per cent rise in the S&P BSE Sensex, ACE Equity data show. At 11:19 am; it was trading 11 per cent higher at Rs 182 on back of two-fold jump in trading volumes. A combined around 2.1 million shares have changed hands on the NSE and BSE.READ MORE

12:45 PM

Amid IPO frenzy, Reliance plans public listing of retail, O2C businesses

In order to take advantage of the initial public offer (IPO) frenzy in the market, Reliance Industries Limited (RIL) is preparing to launch IPOs of its retail and oil-to-chemicals (O2C) businesses. At least one of the IPOs will hit the market in the current financial year, said a banker close to the development. READ MORE

12:36 PM

MARKET CHECK

12:07 PM

Geojit Financial Services on Tatva Chintan Pharma Chem IPO

At the upper price band of Rs.1,083, TCPCL is available at a P/E of 46x (diluted) which appears to be reasonably priced. We assign a “Subscribe” rating for the issue on a short to long-term basis considering its strong focus on R&D, promising sector outlook, cost control initiatives and longstanding relationship with key customers.
 

11:48 AM

Chart check: Trading strategies for Infosys, Wipro and TCS post Q1 results

For the year, Nifty IT Index has notched a gain of 23 per cent, shows ACE Equity data. The large-cap names from the space, namely TCS (up 36 per cent), Infosys (up 50 per cent) and Wipro (up 50 per cent) too have clocked handsome returns during this period. Following their Q1 results, most analysts remain bullish on these three names. Although, the current price action of these stocks needs breakout to gain further traction, suggest charts. READ MORE