Sensex ends flat in choppy trade; Metals gain; Asian Paints dips 4%, ITC 2%

CLOSING BELL ON JULY 25, 2023: The NSE Nifty ended 8 points higher; Tata Steel and JSW Steel were the major gainers on Tuesday.

4:10 PM

Tech View :: 'The correction in Nifty will unlikely result in trend reversal'

Nifty50
The Nifty, today, took support at the 50% Fibonacci retracement level (19,650) of the rise from 19,300 – 19,992. The correction Nifty is undergoing is unlikely to result in a trend reversal, and this intermediate pullback should be used as a buying opportunity. The primary trend is positive, and hence we shall continue to maintain a bullish short-term outlook. In terms of levels, 19,615 – 19,560 shall act as a crucial support zone, and on the upside 19,830 - 19,850 shall act as an immediate hurdle zone.

 

Bank Nifty

On the downside, 45,670 – 45,460, which are the 38.2% and 50% Fibonacci retracement levels, are likely to act as a strong support zone from a short-term perspective. Overall, the trend is still positive, and once this consolidation is complete, we can expect the Bank Nifty to resume its uptrend. On the upside 46,500 is the expected target.

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

4:07 PM

Comment :: 'Prefer hedged trades until Nifty resumes the trend'

Indications are in favour of further consolidation in index and upcoming monthly expiry of July month derivatives contracts would keep the volatility high. Besides, the performance of the US market will also be in focus for cues. We thus recommend preferring hedged trades until Nifty resumes the trend.

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

4:05 PM

Comment :: What's behind the recent correction in the markets?

Indian indices hovered along the flat line, waiting ahead for the crucial decision of Fed policy. Metal stocks rose due to China's commitment to provide policy support to its realty sector, while utilities were up in anticipation of demand & improvement in operating margin. The recent correction of the domestic market can be attributed to several factors, including muted start to Q1 results, a reversal in FII activity, a rising dollar index, and an increase in crude oil prices.

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

4:02 PM

Q1 Earnings :: Remain optimistic on demand situation despite near-term uncertainties, says TaMo

We remain optimistic on the demand situation despite near term uncertainties and expect a moderate inflationary environment to continue in the near term.

We aim to deliver a strong performance in the rest of the year too, thanks to a healthy order book coupled with low-break-even in JLR, a steady improvement in demand whilst we continue to drive our demand-pull strategy in CV, a set of exciting launches ahead of the festive season in PV and continued aggression in

EVs.

3:59 PM

Q1 Earnings :: Tata Motors posts consolidated net profit at Rs 3,089.7 crore

3:55 PM

Currency check :: Rupee ends at 81.87/$ against Monday’s close of 81.82/$

3:54 PM

BSE Stats :: Advance-Decline ratio nearly 1:1

3:53 PM

ALERT :: India VIX slides 12%

3:51 PM

Suzlon declines 5% post Q1FY24 results

3:50 PM

Adani grp shares in focus; Adani Green, Transmission, Power rally up to 10%

Three of the group's listed companies - Adani Enterprises, Adani Green Energy, and Adani Transmission -- plan to raise Rs 33,000 crore by launching qualified institutional placements (QIPs) by calendar year end. READ MORE

3:47 PM

ITC ends 2% down; m-cap slips over Rs 50,000-cr in 2 days

3:45 PM

Buzzing stock :: Jyothy Labs sprints 20% post solid Q1

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) margins for the quarter improved 710 bps to 17.1 per cent against 10 per cent in a year ago quarter, due to moderating input costs. Net profit more-than-doubled or was up 101.7 per cent year-on-year (YoY) at Rs 96.3 crore from Rs 47.7 crore in Q1FY23.

3:43 PM

Sector check :: Auto index gains 1%; TVS Motor Co rises 5%, Sona Comstar 2%

3:41 PM

Sector check :: Jindal Steel, Hindustan Copper surge 5%; 13 of 15 index constituents end higher

3:40 PM

Broader markets outshine; Mid, SmallCap indices up 0.3% each

3:38 PM

Sectoral trends :: Indices end mixed; Metal index leaps 3%, PSB down 1.5%

3:36 PM

Sensex Heatmap :: Tata, JSW Steel rally 3% each, Asian Paints slides 4%

3:35 PM

CLOSING BELL :: Nifty ends below 19,700

3:34 PM

CLOSING BELL :: Sensex ends flat after a choppy day

3:25 PM

Sebi amends rule to boost liquidity in secondary market for corporate bonds

LPCC is an entity established to undertake the activity of clearing and settlement of repurchase agreement transactions. READ MORE

3:19 PM

Global Check:: US, UK stock futures little changed

Source: Investing.com

3:12 PM

ALERT:: Mahindra Holidays Q1 net up 13%; stock slips 3%

Mahindra Holidays & Resorts Q1 net rose 12.8 per cent to Rs 37.90 crore in the quarter ended June 2023 as against Rs 33.60 crore in the corresponding quarter a year ago. Total income was up 16.7 per cent YoY at Rs 354.90 crore.

3:03 PM

TVS Supply Chain Solutions gets Sebi's approval for launching IPO

It will be the first IPO by TVS family company in three decades, after TVS Electronic in 1994. READ MORE

2:50 PM

RBI likely bought dollars in spot via PSBs, paid in far forwards: Traders

Two public sector banks were buying dollars, likely for the RBI, while a large private sector bank was on the bid on USD/INR for its importer clients, a currency trader said. READ MORE

2:39 PM

ALERT:: Jubilant Foodworks Q1 net dips 25%; stock rallies 3%

Jubilant Foodworks today reported a 25.5 per cent dip in Q1FY24 net profit at Rs 75.18 crore when compared with Rs 100.95 crore in Q1FY23. Total income was up 5.4 per cent YoY at Rs 1,318.75 crore.

2:28 PM

ALERT:: Suzlon Energy reports Rs 101 cr net profit; stock down 4%

Suzlon Energy reported a net profit of Rs 100.90 crore for the quarter ended June 2023 as against Rs 2,432.55 crore in Q1FY23. Total income was marginally down at Rs 1,361.68 crore from Rs 1,383.47 crore.

2:15 PM

Indian real estate sentiment score rose between April-June: Knight Frank

The Indian real estate sector saw a jump in sentiment between April and June, a report released on Tuesday said. According to Knight Frank-NAREDCO Real Estate Sentiment Index Q2 2023, the current sentiment score during the quarter rose to 63 from 57 in the previous quarter, which ended on March 31. READ MORE

2:03 PM

ALERT:: Aurionpro Solutions Q1 net up 31%; stock jumps 5%

Aurionpro Solutions Q1FY24 net profit rose by 30.7 per cent to Rs 31.57 crore when compared with Rs 24.17 crore in Q1FY23. Total income was up 37.7 per cent YoY at Rs 201.58 crore.

1:54 PM

ALERT:: Tips Q1 net soars 58%; stock zooms 8%

Tips Q1FY24 net profit soared 57.7 per cent to Rs 27.10 crore when compared with Rs 17.18 crore in Q1FY23. Total income increased by 55 per cent YoY to Rs 54.65 crore.

1:43 PM

ALERT:: Bajaj Auto Q1 net grows 42%; stock down 1%

Bajaj Auto today posted a 41.9 per cent growth in Q1 net profit at Rs 1,664.77 crore for the quarter ended June 2023 as against Rs 1,173.30 crore in the corresponding quarter a year ago. Total income rose by 28 per cent YoY to Rs 10,656.10 crore.