Stock Market Highlights, July 29: Benchmarks end flat after hitting record highs; most sectors gain

Stock Market Highlights on Monday, July 29: Among the broader indices, Midcap outperformed the others, as the Nifty Midcap 100 index hit a fresh 52-week high of 58,455.10

3:54 PM

Tech View :: Check key levels on Nifty, Bank Nifty here

Nifty50

iOn the daily chart, we can observe that the Nifty has rallied around 800 points in the last three trading sessions. The hourly momentum indicator has triggered a fresh negative crossover suggesting loss of momentum. Thus, there is a high probability that the Nifty is likely to consolidate over the next few trading sessions. On the downside, crucial support is placed at 24,650 – 24,600 where the key hourly moving averages are placed. On the upside, 25,000 is the key psychological hurdle from short term perspective.

Bank Nifty

Bank Nifty has also witnessed an extremely volatile day of trade today. It faced resistance at the falling trend line (52,300) derived by joining the previous couple of swing highs. On the downside, 51,200 – 51,000 is a crucial support zone. Thus, the bank Nifty is also suggesting rangebound price action over the next few trading sessions. In terms of levels, 51800 – 52000 is an immediate hurdle while support is placed at 51,200 – 51,000.

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

3:42 PM

Market Comment :: 'Investors monitoring US Fed, BoJ decisions'

An ease in the US personal consumption expenditure to 2.5% and the subsequent drop in the US 10-year yield have fuelled optimism that the Fed might cut rates in September, leading to a global rally. However, profit-booking was triggered in the domestic market given trading in the overbought territory and closed flat. Policy meeting is scheduled for the Fed, BOJ and BOE this week, and investors are closely monitoring the developments. It is anticipated that the BOE may implement a 25-bps rate cut in response to easing inflation.

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

3:41 PM

Currency Update :: Rupee ends at record low, down 1 paise vs US dollar

3:39 PM

Broader markets :: SmallCap index outshines peers

3:38 PM

Sectoral trends :: IT, FMCG stocks see minor profit booking

3:36 PM

Sensex Heatmap :: Over 15 stocks advance on Sensex today; L&T, Bajaj Finserv lead

3:34 PM

Closing Bell :: Nifty ends below 24,850 after nearing 25,000 intraday

3:32 PM

Closing Bell :: Sensex ends flat after hitting record high intraday

>> BSE Sensex hit an all-time record high of 81,908 on July 29, 2024

3:26 PM

Axis Securities picks PI Industries as 'Stock Pick of the Week'; Check Why

Meanwhile, the shares of PI Industries started today's session at Rs 4204.80 and traded northward, hitting a 52-week high of Rs 4430 on the BSE on Monday. At around 02:30 PM, the stock was quoted at Rs 4395.90, up 4.54 per cent from its previous close of Rs 4204.80 on the BSE. READ MORE

3:15 PM

Ceigall India to open Rs 1,253-crore IPO at Rs 380-401 per share price band

About Ceigall India IPO:

Ceigall India IPO is a book built issue which consists of a fresh issue of 17.1 million shares aggregating to Rs 684.25 crore and an offer for sale of 14.2 million shares aggregating to Rs 568.41 crore. READ MORE

3:03 PM

Ola Electric IPO: 10 key points to know from India's 1st EV startup RHP

he much-awaited initial public offering (IPO) of Ola Electric Mobility Limited opens for subscription on Friday, August 2, 2024. The company  is a major player in India's electric vehicle (EV) market, focusing on building vertically integrated technology and manufacturing capabilities for EVs and EV components, including cells. Ola Electric commands nearly a 35 per cent market share in India's electric two-wheeler market in FY24 and is the first EV startup company to roll out an IPO in India. READ MORE

2:54 PM

Sumitomo Chemical Q1FY25 profit more than doubles; stock hits 52-week high

Sumitomo Chemical’s consolidated profit jumped 105.5 per cent on a year-on-year (Y-o-Y) basis to Rs 126.6 crore in the June quarter of financial year 2025 (Q1FY25), as against Rs 61.6 crore in the June quarter of financial year 2024 (Q1FY24). READ MORE

2:45 PM

EID Parry stock hits new high; soars 10% on hopes of improved profitability

EID Parry in its FY24 annual report said, operating profitability is expected to improve in FY25 and would remain rangebound, due to better profitability from sugar business. READ MORE

2:36 PM

ALERT:: Strides Pharma reports Q1 turnaround; stock up 4%

Strides Pharma in an exchange filing today reported a turnaround in Q1FY25 with Rs 68.30 crore profit. In comparison, the company had posted a net loss of Rs 9.40 crore in the same quarter a year ago. Total income grew by 16.7 per cent YoY to Rs 1,087.50 crore from Rs 932 crore.

2:23 PM

Here's why IndiGo share price fell 5% post Q1 2024-25 results

Brokerages have mixed rating on IndiGo stock with ICICI Securities maintaining 'Buy' (unchanged target price of Rs 5,265). READ MORE

2:15 PM

ALERT:: Bharat Electronics Q1 net surges 46%; stock up 4%

Bharat Electronics in an exchange filing today posted 46.2 per cent growth in Q1FY25 net profit at Rs 776.14 crore when compared with Rs 530.84 crore in Q1FY24. Total income rose by 20.5 per cent YoY to Rs 4,400.27 crore from Rs 3,652.25 crore.

2:08 PM

ALERT:: Voltamp Transformers Q1 net jumps 56%; stock rises 3%

Voltamp Transformers in an exchange filing today posted 56.4 per cent growth in Q1FY25 net profit at Rs 79.44 crore when compared with Rs 50.78 crore in Q1FY24. Total income rose by 32.4 per cent year-on-year to Rs 456.94 crore from Rs 345.22 crore.

 

The company's board approvd a proposal to increase capacity by 6,000 MVA p.a. in the next months with an investment of Rs 200 crore.

1:57 PM

This Reliance group stock has rallied 52% in 9 days; zoomed 120% in 5 weeks

Shares of Lotus Chocolate Company were locked in the upper circuit for the eight straight trading day, up 5 per cent at Rs 1,035 on the BSE as of 12:14 pm on Monday. READ MORE

1:42 PM

Nifty Realty up 2.5% on July 29; what's driving the rally? Analysts weigh

A major driver behind this rally, analysts said, is DLF’s strong June quarter performance.  READ MORE

1:32 PM

ALERT:: Arvind Q1 net dips 40%; stock slips 2%

Arvind today posted a 40 per cent dip in Q1FY25 net profit at Rs 65 crore when compared with Rs 39 crore in Q1FY24. Revenue from operations declined 1 per cent year-on-year to Rs 1,853 crore from Rs 1,831 crore.

1:19 PM

Ola Electric's IPO price out! How does it stack up against listed peers?

Most of the listed peers are primarily internal combustion engine (ICE) makers. Nonetheless, it is important to see how the Bengaluru-based firm stacks up against them. READ MORE

1:10 PM

NBCC rallies 4% after arm bags Rs 411 cr order; stock up 38% in six months

The rise in the NBCC share price came after the State-owned company announced that its arm, HSCC (India) Limited, has secured an order worth Rs 411.45 crore. READ MORE

12:57 PM

L&T gains 3% on winning large orders; rallies 8% in 3 days post Q1 results

Share price of Larsen & Toubro today was up 3 per cent to Rs 3,785 on the BSE in intra-day trade, after the company won multiple large orders to build grid elements forming backbone of clean energy transition. L&T classifies orders ranging between Rs 2,500 crore to Rs 5,000 crore as "large" orders. READ MORE

12:44 PM

ALERT:: Adani Wilmar reports Q1 turnaround with Rs 313 cr profit; stock zooms 7%

Adani Wilmar today posted a turnaround for the June quarter, with a consolidated net profit to Rs 313 crore as against a net loss of Rs 79 crore in Q1FY24. Revenue from operations grew by 10 per cent Year-on-Year to Rs 14,169 crore from Rs 12,928 crore.

12:34 PM

Nifty PSU Bank index surges 3%; PNB soars 7% on strong Q1 results

PNB, BoI, BoB, Uco Bank and IOB rallied over 3% each. SBI, Canara Bank, Union Bank of India, Indian Bank and Central Bank were up 2-3%. READ MORE

12:27 PM

ALERT:: Sensex slips into red, down 700 pts from record high

12:12 PM

KFin Technologies hits 52-week high on robust Q1FY25; topline grows 31%

The surge in the stock price came after the company posted a strong set of June quarter results (Q1FY25). READ MORE

12:03 PM

Govt considers reintroducing 15% concessional corporate tax in FY26 Budget

The Centre has set up an internal committee to evaluate the benefits of the 15% concessional tax rate scheme for new domestic manufacturing units, introduced in FY20. READ MORE

11:49 AM

Why is China turning its back to gold jewellery? Chris Wood explains

In dollar terms, gold prices hit $2,331/oz at the end of H1-CY24, according to WGC data, rising 12.1 per cent during this period. READ MORE

11:39 AM

ALERT:: Sensex hits new high, up over 450 points