Sensex soars 274 pts, Nifty near 19,400 as Bajaj Fin leaps 7%, Hero Moto 5%

Closing Bell on July 4, 2023: The rally was led by Bajaj Finance, Bajaj Finserv, Hero Moto, Tech M, TCS, Wipro, Sun Pharma, Kotak Bank, Infosys, Cipla, HCL Tech, SBI, HDFC twins, and ICICI Bank

4:05 PM

COMMENT:: Markets taking a breather ahead of Q1 results

"The market is maintaining its optimism; however, a profit-booking tendency is visible at the upper band as the recent rally has raised the market to the historic new high range. The momentum of the market has shifted from the frontlines of this year to the laggards like IT, commodities, and PSUBs. The market is taking a breather ahead of the upcoming Q1 results. Pharma and banking displayed a positive trend, while the auto sector faced selling pressure following a mixed set of sales data for the month of June."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

 

4:04 PM

How does India's $11.1 trillion household savings into equities stack up

Jefferies estimates the structural flows from retail to the equity markets at around $30-35 billion per annum. READ MORE

4:02 PM

Eicher Motors cracks over 6% as Hero Moto-Harley Davidson tie up for X440 bike

Priced at Rs 2.29 lakh, X440 motorbike will directly compete with Eicher Motors' Royal Enfield Classic 350's starting price of Rs 1.93 lakh and the Hunter 350's Rs 1.5 lakh. READ MORE

4:01 PM

Genus Power Infra jumps 9% on order win worth Rs 2,207 crore

The company said it has received a letter of award (LoA) of Rs 2,207.53 crore for appointment of Advanced Metering Infrastructure Service Provider (AMISP). READ MORE

3:59 PM

HPL Electric & Power hits 20% upper limit on bagging smart meter orders of Rs 903 cr

HPL said these orders further bolster the company's total pending pipeline order book, now totaling Rs 2250 plus crore. READ MORE

3:58 PM

What's cooking in ITC's kitchen that's made analysts bullish on the stock?

Analysts at Jefferies beleive the stock could top the Rs 600-mark, an upside of over 34 per cent from current levels. READ MORE

3:56 PM

Bajaj Finance soars 7%, hits 52-week high on strong Q1 business update

Shares of Bajaj Finance hit a 52-week high of Rs 7,917, soaring 8 per cent on the BSE in Tuesday's intra-day trade, after the company's new loans booked during first quarter (April to June) of fiscal 2023-24 (Q1FY24) grew by 34 per cent to 9.94 million as compared to 7.42 million in Q1FY23. READ MORE

3:55 PM

How do brokerages view Reliance Jio's new feature phone offering?

Brokerages estimate that the launch of 'JioBharat' phones could disrupt the 2G market, and delay the tariff hike discussions in the near-term. READ MORE

3:54 PM

Untimely rains dent summer sales; to keep durable stocks in check: Analysts

Analysts expect the stocks to remain weak in the near-term as lower sales offtake will lead to companies missing their earnings estimates for the April-June quarter (Q1FY24). READ MORE

3:52 PM

IDFC gains 2%, IDFC First Bank slips 4% after board approves merger

Shareholders of IDFC Ltd will get 155 shares of IDFC First Bank for every 100 shares held in the former. READ MORE

3:51 PM

HMA Agro ends on par to issue price on debut

Post listing, the stock had hit a high of Rs 667, up 14 per cent as against the issue price of Rs 585 per share on the NSE. READ MORE

3:49 PM

Sectoral Performers:: IT, Financial indices gain; Auto index slips

3:47 PM

Market Breadth was marginally negative

3:45 PM

BSE Smallcap Heatmap:: Nine stocks zoom over 8%; only one decline more than 8%

3:44 PM

BSE Midcap Heatmap:: BoI, Bayer crop rally up to 4%; L&T Finance dips 3%

3:42 PM

MidCap indices underperform in broader market, end in red

3:40 PM

Nifty 50 Losers:: Eicher Motors cracks 6%; five more stocks decline over 1%

3:38 PM

Nifty 50 Gainers:: Bajaj twins, Hero MotoCorp top chart

3:37 PM

Sensex 30 Heatmap:: Bajaj twins shine; RIL, Airtel whine

3:35 PM

CLOSING BELL:: NSE Nifty50 finishes with a gain of 66 points at a fresh record high of 19,389

3:33 PM

CLOSING BELL:: S&P BSE benchmark extends rally, ends higher for 5th straight trading session; up 274 pts

The BSE benchmark index has rallied 2,508 points in the last five trading sessions.

3:25 PM

IPO Update:: Senco Gold subscribed up to 46% so far

Senco Gold was subscribed up to 46 per cent as of 03:15 PM on the first day of the offer period. Retail quota was subscribed up to 78 per cent and HNIs 31 per cent.

3:19 PM

IPO Update:: PKH Ventures subscribed up to 61% so far

3:13 PM

ALERT:: Coffee Day defaults on bank, debt repayment; stock down 2%

Coffee Day Enterprises has informed BSE, that the company has defaulted on a bank loan worth Rs 189.70 crore, and repayment due on unlisted debt securities to the tune of Rs 200 crore.

3:01 PM

COMMENT:: PSU Banks are likely to report strong growth

Public banks have performed well post COVID. The asset quality cycle tailwind has resulted in improvement in NPA ratios. The corporate credit woes are behind us. Therefore we expect the credit cost normalisation in the coming period. As per as growth is concerned, the PSU Banks are likely to report strong growth factoring capex improvement. The large PSU Banks like SBIN and BOB are also growing rapidly on the consumer credit front. Hence we expect further room for re-rating. Nevertheless, The ECL provision will be keenly watched. We prefer large PSU Banks; SBIN, BOB and PNB (considering the valuations).

 

- Ajit Kabi, Banking Analyst at LKP Securities
 

2:51 PM

Eicher Motors cracks 6% as Hero Moto-Harley Davidson tie up for X440 bike

Priced at Rs 2.29 lakh, X440 motorbike will directly compete with Eicher Motors' Royal Enfield Classic 350's starting price of Rs 1.93 lakh and the Hunter 350's Rs 1.5 lakh. READ MORE

2:40 PM

Temperatures seen surging as El Nino weather pattern returns: WMO

Temperatures are expected to soar further across large parts of the world after the El Nino weather pattern emerged in the tropical Pacific for the first time in seven years, the World Meteorological Organization said on Tuesday.

 

El Nino, a warming of water surface temperatures in the eastern and central Pacific Ocean, is linked to extreme weather conditions from tropical cyclones to heavy rainfall to severe droughts. READ MORE

2:29 PM

ALERT:: G R Infraprojects secures Rs 588 cr order; stock flat

G R Infraprojects has signed a Engineering Procurement and Construction agreement with East Coast Railway for project work worth Rs 587.59 crore.

2:19 PM

Market Check:: BSE Telecom index slips over 1%

2:07 PM

ALERT:: Care Ratings withdraws rating on JK Tyre US arm

Care Ratings withdrew its rating on JK Tornel, a US-based subsidairy of JK Tyre & Industries as requested by the company as the former repaid the bank loan.