Sensex adds 529pts, ends near 66,600; Nifty at 19700; SBI up 3%, HDFC Bk 2%

CLOSING BELL on July 17: The benchmark S&P BSE Sensex notched a new high of 66,656 in the intra-day trade, while the Nifty50 hit a new record high of 19,732

4:06 PM

COMMENT:: Market rallied on hopes of strong Q1 corporate earnings

"Despite the mixed performance observed in the Asian market due to China's underwhelming GDP data, the Indian market exhibited resilience, in anticipation of a bumper Q1 result. Nifty50 Q1 consolidated PAT is projected to grow by more than 20% YoY, which can upgrade the full year earnings growth of FY24. Small caps outperformed as comparatively valuations are attractive trading below the long-term average compared to large and mid-caps."

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:04 PM

Netweb Tech IPO subscribed 1.7 times on Day 1 so far; here's what brokerages recommend

The company has a fixed price band between Rs 475-Rs 500 per share. The issue will close on Wednesday, July 19. READ MORE

4:01 PM

Avenue Supermarts dips 3% on disappointing June quarter results

The company's consolidated net profit grew mereley by 2.5 per cent to Rs 658.71 crore in April-June 2023 quarter (Q1FY24), as lower sales of apparel and general merchandise impacted margins.  READ MORE

3:58 PM

Angel One cracks 7% as NSE bars onboarding of new authorised persons

Angel One said NSE's order does not affect the existing business or the activities of the APs affiliated with the company. READ MORE

 

3:56 PM

Wipro hits 10-month high; stock surges 7% in two days post Q1 results

For Wipro, the long-term outlook is expected to improve as demand is set to get back on track as well as investment in Automation and Gen AI based products & solutions will aid growth, analyst said. READ MORE

3:55 PM

Lloyds Metals gains 4% on NSE debut; stock up 137% so far in 2023

Since 2021, the stock price of Lloyds Metals has skyrocketed 5,686 per cent to Rs 582.70 from level of Rs 10.07 at the end of December 2020. READ MORE

3:51 PM

Market Breadth was positive; Nearly 2,100 stocks advanced versus 1,600 declining shares on the BSE

3:49 PM

Bank Nifty zooms 1.4%; PNB, SBI lead with 3% gain

3:47 PM

Broader indices gain in tandem with benchmark Nifty 50; VIX rises 6%

3:45 PM

BSE Smallcap Heatmap:: FCS Soft, GTPL soar up to 20%; Datamatics tumbles 19%

3:43 PM

BSE Midcap Heatmap:: Zee Entertainment, Voda Idea lead rally; JSW Energy slips

3:41 PM

Nifty 50 Losers:: Hero MotoCorp, ONGC decline over 1%

3:40 PM

Nifty 50 Gainers:: SBI surges 3%; RIL, HDFC Bank rally 2%

3:37 PM

Sensex 30 Heatmap:: 19 Gainers v/s 11 Losers

3:35 PM

CLOSING BELL:: NSE Nifty50 rallied 147 pts to end at a record high of 19,711

3:33 PM

CLOSING BELL:: S&P BSE benchmark hits all-time high at 66,656; ends 529 points higher at 65,590

3:27 PM

G20 FSB releases global guidelines for crypto firms to safeguard investors

"As recent events have illustrated, if linkages to traditional finance were to grow further, spillovers from cryptoasset markets into the broader financial system could increase," the FSB said. READ MORE

 

3:15 PM

ALERT:: Zee Ent forms interim committe to run operations; stock up 6%

Constitues an Interim Committee of senior Executives under the supervision of the Board; Zee Entertainment spokeperson to CNBC TV-18.

3:04 PM

Global Check:: US stock futures flat; UK decline up to 1%

Source: Investing.com

2:54 PM

L&T bags orders in water treatment, supply systems in Uttar Pradesh

The company did not disclose the order value. According to the company's project classification, large orders are in the range of Rs 2,500 crore to Rs 5,000 crore. READ MORE

2:44 PM

ALERT:: IRCON wins Rs 144 cr order from Railways; stock gains 4%

Ircon International (IRCON) has been awarded the work for supply, installation, testing and commissioning of Integrated Tunnel Communication Systems, OFC based industrial grade network system including laying of OFC & other cables for Railway network which includes tunnels and stations at a total price of Rs 144 crore, the company said in a release.

2:33 PM

ALERT:: SC lifts SAT-ordered stay on transfer of Sahara Life biz to SBI Life

The Supreme Court has lifted the SAT-ordered stay on transfer of Sahara Life business to SBI Life, reprots CNBC TV-18

2:22 PM

India, US to boost ties, look for alternatives to fund energy transition

Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen held bilateral meetings on the sidelines of the G20 finance ministers and central bank governors meeting here. READ MORE

2:13 PM

ALERT:: Choice International Q1 net jump nearly 3-fold; stock up 2%

Choice International Q1FY24 net profit soared 176.6 per cent to Rs 21.27 crore when compared with Rs 7.69 crore in the quarter June 2022. Total income rose by 77 per cent YoY to Rs 139.26 crore.

2:02 PM

ALERT:: Onward Technologies Q1 net zooms 133%; stock rallies 12%

Onward Technologies posted a 132.6 per cent jump in Q1 standalone net at Rs 6.63 crore for the quarter ended June 2023 as against Rs 2.85 crore in the year ago period. Total income increased by almost 19 per cent YoY to Rs 85.71 crore.

1:51 PM

Global Check:: Asian markets in red; Shanghai slips 0.9%

Source: Yahoo Finance

1:41 PM

Market Check:: Bank Nifty extends rally post HDFC Bank results

1:30 PM

ALERT:: Central Bank Q1 net soars 78%; stock surges 5%

Central Bank of India today reported a 78.2 per cent surge in Q1 net profit at Rs 418.43 crore for the quarter ended June 2023, when compared with Rs 234.78 crore in the corresponding quarter a year ago. Total income rose by 28.7 per cent YoY to Rs 8,183.92 crore.

1:19 PM

UK economy may fall further behind euro area next year, forecast suggests

Gross domestic product is expected to grow by 0.6% in 2024, well below the 1% gain anticipated in the euro area, a monthly survey of economists by Bloomberg showed. READ MORE

1:07 PM

HDFC Bank crosses $100 billion valuation, becomes world's 7th largest bank

On Monday, the bank's market capitalisation crossed $150 billion, making it bigger than Morgan Stanley, Goldman Sachs and Bank of China. READ MORE