Sensex rallies 502 pts, ends above 66K; Nifty near 19,600; IT stocks sizzle

CLOSING BELL ON JULY 14, 2023: The BSE benchmark index scaled a fresh summit at 66,160, while the NSE Nifty50 registered a record high at 19,595.

4:08 PM

Cues for Monday :: Merged HDFC Bank to report Q1FY24 results; here's what to expect

Nomura

The brokerage has pegged HDFC Bank's standalone net profit at Rs 11,220 crore, down 7 per cent sequentially from Rs 12,047.5 crore reported in Q4FY23. On a YoY basis, the PAT is expected to grow 22 per cent from Rs 9,196 crore clocked in Q1FY23. READ MORE

4:00 PM

Comment :: 'Need sustainable close above 19,550'

It is a firm close but we need sustainability above 19,550 in Nifty for continuation of the up move. The prevailing buoyancy in global markets combined with rotational buying across sectors is favoring the same. We thus reiterate our positive view and suggest focusing on identifying quality stocks across sectors. 

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

3:57 PM

Comment :: What drove the markets to all-time highs today?

The controlled inflation in the US has instilled optimism among investors that a 25-bps rate hike would be adequate to stabilise the US economy. This improved prospect has contributed to the strong buying of Indian IT stocks despite muted Q1 earnings. Furthermore, the broad-based rally in the domestic market was supported by India's consecutive third month decrease in wholesale prices, along with the positive involvement of FIIs.

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

3:53 PM

Q1 Earnings :: Bandhan Bank posts net profit of Rs 721 crore

>> PAT down close to 195 YoY

>> NII at Rs 2,491 crore, down 1% YoY

>> Gross NPA at 6.76% Vs 4.87% QoQ

 

>> Net NPA at 2.18% Vs 1.17% QoQ

 

>> Gross NPA at Rs 6,960.4 cr Vs Rs 5,298.6 cr QoQ

 

>> Net NPA at Rs 2,140.7 cr Vs Rs 1,228.3 cr QoQ

3:50 PM

Currency check :: Rupee ends at 82.17/$ against Thursday’s close of 82.07/$

3:47 PM

Buzzing stock :: JBM Auto gains 11.6% on order win for 5,000 electric buses

3:44 PM

Buzzing stock :: Subex leaps 20% as its fraud management system 'HyperSense' is now available on Google Cloud

3:42 PM

Buzzing stock :: Senco Gold slips on profit booking but ends 28% above issue price

3:40 PM

Buzzing stocks :: IT stocks spurt as investors feel worst is behind the sector

3:38 PM

Broader markets climb in tandem; Mid, SmallCap indices up 1%

3:37 PM

Sectoral trends :: Broad-based gains lift markets; IT index advances over 4%, Media index 4%

3:35 PM

Sensex Heatmap :: 20 of 30 index stocks end with gains; TCS jumps 5%, Tech M 4.5%

3:34 PM

CLOSING BELL :: Nifty surges 151 pts, ends above 19,550

3:33 PM

CLOSING BELL :: Sensex lifts off to unchartered zone, ends above 66K for the first time

3:20 PM

Market Check :: Nifty inches closer to 19,600

3:10 PM

Market Check:: Sensex at day's high, up over 400 pts

2:58 PM

Moody's downgrades Azure Power Energy and Azure Power Solar Energy

The one-notch downgrade of APE's and APSEP's debt ratings has been driven by governance issues related to internal controls and compliance. READ MORE

2:49 PM

Ashoka Buildcon, Birlasoft among stocks that hit 52-week highs

2:40 PM

LTIMindtree Q1 results on Monday, July 17; stock up 3%

2:31 PM

Patanjali hits 5% upper circuit; OFS fully booked

2:20 PM

Nifty IT index extends rally, up over 4%

2:15 PM

Nirma, Sekhmet Pharmaventures vie for $731 mn Glenmark Life stake: Reports

Suitors have entered final round of bidding for stake of about 83% in Mumbai-listed company held by Glenmark Pharmaceuticals Ltd., said people, who asked not to be identified as information is private. READ MORE

2:03 PM

ALERT :: Chemplast Sanmar selected as a supplier to manufacture an Active Ingredient

>> The Custom Manufactured Chemicals Division of Chemplast Sanmar Limited has recently been selected by a global agrochemical innovator to manufacture a new pipeline Active Ingredient (AI), the company said in a statement.

1:56 PM

Market Check :: SmallCap shakers at this hour

1:48 PM

Commodity Corner :: Gold edges down, Silver ticks higher on MCX

1:39 PM

Q1FY24 Update :: Monte Carlo records sales revenue growth of 20%

>> The company has strengthened its retail presence in India with the opening of 11 new EBO’s during Q1 FY24, out of which 5 EBO’s are opened in Northern Region, 2 EBO’s are opened in Central region, 2 EBO’s are opened in Eastern region, 1 EBO is opened in Southern Region and 1 EBO is opened in Western Region.

>> With this the total number of EBO’s has reached approximately 366 across 21 states and 4 union territories.

1:29 PM

Market Check :: MidCap movers at this hour

1:21 PM

ALERT :: MCA approves incorporation of IGL Genesis Technologies, a Joint Venture between IGL and Genesis

>> The companies have the equity participation in the ratio of 51:49, respectively

1:12 PM

IPO Update :: Utkarsh SFB issue subscribed 32.5x

1:02 PM

Filing ITR for crypto gains: Here's your guide on taxation for VDAs

"This tax applies to all investors, whether private or commercial, who transfer digital assets during the year. The tax is same for a short term or a long-term gain," said -Soayib Qureshi, Associate Partner, PSL Advocates & Solicitors. READ MORE