Market Highlights, July 16: Sensex, Nifty end flat after hitting record highs; RIL, HDFC Bank weigh

Stock Market Highlights today, Tuesday, July 16, 2024: In the broader markets, the BSE MidCap slipped 0.29 per cent, but the BSE SmallCap added 0.32 per cent

3:52 PM

ALERT :: Stock markets to stay shut on Wednesday, July 17

3:49 PM

Tech View :: 'Nifty, Bank Nifty to consolidate in near-term'

Nifty50

On the daily charts, we ca observe that the Nifty has been inching higher towards the 24,840-mark. On the hourly charts, there are signs of loss of momentum as the hourly momentum indicator has a negative crossover and the Bollinger bands have also begun to contract, indicating that there could be a consolidation over the next few trading sessions. The range of consolidation is likely to be 24,700 – 24,500.

 

Bank Nifty

Bank Nifty consolidated and closed around the 20-day moving average support. We expect the Bank Nifty to hold on to this support and head higher towards 52,800 – 53,000 over the next few trading sessions. Crucial support for Bank Nifty is placed at 52,100 – 51,900.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

3:47 PM

Comment :: What all happened in the markets today?

The domestic market failed to uphold the opening gains as investor concerns about current valuations and subdued expectations for Q1FY25 earnings. With the earnings season set to fully commence this week, investors are likely to gain a broader sectoral perspective. Globally, the dovish comment from the FED chief on inflation trajectory and a drop in US 10yr yield ahead of US retail sales data increased the likelihood of a rate cut in September.

Views by: Vinod Nair, Head of Research, Geojit Financial Services

3:45 PM

Currency check :: Rupee rises 1 paise vs US dollar

3:43 PM

Broader markets :: MidCap index underperforms peers, SmallCap index outshines

3:41 PM

Sectoral trends :: Realty, IT, FMCG hold fort

3:39 PM

Sensex Heatmap :: RIL, Kotak Bank end as top laggards, cap gains

3:38 PM

Closing Bell :: Nifty holds 24,600

3:37 PM

Closing Bell :: Sensex settles with mild uptick, holds 80,700

3:28 PM

Stock Alert :: Zomato drops over 5% on profit booking

3:21 PM

Udaipur Cement stock price slips over 5% after June quarter results

The company reported a loss of Rs 10.3 crore in the June quarter of financial year 2025 (Q1FY25), as opposed to a profit of Rs 4.2 crore in the same quarter last year (Q1FY24). Udaipur Cement had posted a profit of Rs 19.8 crore in the last quarter of FY24 (Q4FY24). READ MORE

3:10 PM

This BSE listed ship breaking stock has zoomed 79% in 4 trading days

As many as 246,000 shares changed hands and there were pending buy orders for 28,483 shares on the BSE, the exchange data shows. On an average sub 1.2 million shares were traded in the past two weeks. Hariyana Ship Breakers trades under the ‘X’ category. Companies falling in the X sub-group are traded only on the BSE and not on the NSE. READ MORE

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2:55 PM

NSE tightens margin funding rules, excludes 1010 stocks including Paytm

Of the 1,730 stocks previously eligible, the NSE has removed 1,010, including notable companies like Adani Power, Yes Bank, Suzlon, Bharat Dynamics, and Paytm. These changes will take effect on August 1, 2024, according to the report. READ MORE

2:45 PM

Bajaj Auto Q1FY25 results: Profit rises 19% YoY to Rs 1,988 cr; stock up 2%

Bajaj Auto's consolidated profit in Q1FY25 increased 18.68 per cent year-on-year (Y-o-Y) to Rs 1,941 crore compared to Rs 1,644 crore in the corresponding quarter of the previous year. On a standalone basis, Bajaj Auto's net profit was Rs 1,988.34 crore, up 19.4 per cent Y-o-Y from Rs 1,664.77 crore. READ MORE

2:34 PM

ALERT:: Century Textiles reports turnaround in Q1; stock up 1%

Century Textiles today posted a consolidated net profit of Rs 17.35 crore for the quarter ended June 2024 as against a net loss of Rs 7.06 crore in Q1FY24. Revenue from operations grew by 29.6 per cent YoY to Rs 1,167.59 crore from Rs 900.70 crore.

2:26 PM

This real estate stock has jumped 30% in 8 sessions; hit record high today

Sunteck Realty share price: Shares of Sunteck Realty extended their rally into the eighth trading session on Tuesday, July 16, as they jumped 15 per cent to Rs 698.35 per share on the BSE in the intraday trade. This was also Sunteck's stock fresh record high. READ MORE

2:14 PM

Budget 2024: Green tech, vehicle scrapping aid; auto sector's wishlist

During the Interim Budget presentation, Nirmala Sitharaman had highlighted that the Centre is keen on expanding and strengthening the electronic-vehicle ecosystem. READ MORE

2:05 PM

ALERT:: Bajaj Auto Q1 net jumps 19%; stock gains 2%

Bajaj Auto today reported a 19.4 per cent growth in Q1FY25 standalone net profit at Rs 1,988.34 crore when compared with Rs 1,664.77 crore in the corresponding quarter a year ago. Total income rose by 15 per cent YoY to Rs 12,248.96 crore from Rs 10,656.10 crore.

1:57 PM

Balrampur Chini stock hits 7-month high; jumps 4% on positive outlook

Higher sugar realization and better feedstock mix within the distillery segment should improve profitability in H1FY25 even as volume may be lower, believe analysts at Elara Capital. READ MORE

1:48 PM

Paytm gets Sebi warning for transactions with banking unit, defends itself

Company says it's committed to 'highest compliance standards' after regulator flags related party transactions with Paytm Payments Bank in FY22. READ MORE

Paytm(Photo: Reuters)

 

1:37 PM

DB Corp net profits surge 50% YoY in June quarter; stock hits 52-week high

Shares of DB Corp zoomed up to 5.53 per cent, hitting its 52-week high at Rs 403.90 per share on the NSE in Tuesday's early intraday deals. READ MORE

1:27 PM

HUL gains 3% as Board approves sale of 'Pureit' to AO Smith for Rs 601 cr

Shares of Hindustan Unilever (HUL) rose nearly 3 per cent to Rs 2,691.95 on the BSE in Tuesday's intraday trade. The rise in HUL share price came after the company said it would sell its two-decade old water purification business, Pureit, to AO Smith for an enterprise value of Rs 601 crore. READ MORE

1:17 PM

Jio Financial Services share price falls over 2% after tepid Q1FY25 results

Jio Financial Q1: Jio Financial share price fell 2.3 per cent to Rs 346.8 per share in Tuesday's intraday trade on the BSE. The decline comes after the non-bank finance company (NBFC) posted mildly weak quarterly financial results for the April-June quarter (Q1) of the current financial year (FY25). READ MORE

1:06 PM

Nomura ups target price for Fortis, reiterates 'Buy'; sees 12% upside

The global brokerage firm maintained its 'Buy' call for Fortis Healthcare with an updated twelve month forward target price of Rs 547, a 12 per cent upside to Monday's close. READ MORE

12:55 PM

ALERT:: D B Corp Q1 net rises 50%; stock jumps 4%

D B Corp today reported a 49.6 per cent growth in Q1FY25 net profit at Rs 117.83 crore as against Rs 78.74 crore in Q1FY24. Total income increased by 7.4 per cent YoY to Rs 616.22 crore from Rs 573.59 crore. 

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12:44 PM

Nifty Microcap 250 surges 29% in 2024, outruns mid, smallcap indices

The rally in microcap stocks, according to Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities, has been on the back of growth in earnings in a lot of these companies. READ MORE

12:35 PM

JNK India surges on order win from JNK Global; up 13% since listing

JNK India stock rises: Shares of JNK India, on Tuesday, were locked in 5 per cent upper circuit at Rs 819.35 per share in intraday deals on BSE. READ MORE

12:24 PM

Bharti Hexacom: JP Morgan initiates coverage on stock

JP Morgan on Bharti Hexacom: Bharti Hexacom shares surged 9.3 per cent to Rs 1,165 per share on the BSE on Tuesday. Global brokerage firm JP Morgan has initiated coverage on the stock with an 'Overweight' rating and a target price of Rs 1,280. READ MORE

12:15 PM

Global check:: Hang Seng slips 1.3% in Asian trade; Nikkei ends flat

12:06 PM

Bharat Agri stock rallies 4% on launching new high rise tower in Thane

The uptick came after the company said it has launched a high rise tower, Wembely-24, which has Ground plus 60 floors. It stands as the tallest tower in Majiwada, Thane. READ MORE