Sensex zooms 340 pts, ends near 65,800; Nifty tests 19500; auto stocks lead

Closing Bell on July 6, 2023: This was the Nifty50 index's eighth straight session of gains

4:18 PM

COMMENT:: FIIs continue to lead markets higher

"Foreign investors continue to provide unwavering support to the domestic market, helping to sustain the ongoing rally despite weak global cues. India's underperformance during the year is expected to reverse moving ahead. The mid- and small-cap segments have outperformed the benchmark index, with realty, oil & gas, power and consumption stocks leading the sectorial rally as provisional & economic data suggest a good Q1FY24 results. However, global markets are displaying a negative trend, influenced by hawkish FOMC minutes and US-China tensions."

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:17 PM

VIEW:: Breakout above 19,500, can trigger a rally towards 19,725 on the Nifty

"The Nifty reached another all-time high after two days of consolidation, indicating a breakout in the upward direction. The overall trend appears positive as the index comfortably sits above a key short-term moving average (50DMA). The immediate resistance is visible at 19,500; a decisive breakout above 19,500 may take the index towards 19,725. Support on the lower end is pegged at 19,350-19,300."

 

- Rupak De, Senior Technical Analyst at LKP Securities

 

4:16 PM

VIEW:: Adopt 'Buy on Dip' strategy for Bank Nifty as long as 45,000 holds

"The Bank Nifty index has shown a resilient performance as the bulls managed to hold the support level of 45,000, which is considered a crucial make-or-break level for the index. The bears have been active around the 45,500 level. However, if the index successfully surpasses this level on a closing basis, it is likely to witness further upward movement toward the 46,000 level. Given the overall bullish undertone, it is advisable to adopt a buy-on-dip approach as long as the mentioned support level of 45,000 is held."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities
 

4:12 PM

OMCs log 52-week high on fund raising plan; HPCL, BPCL, IOC gain up to 4%

Fitch ratings have said that announcements of plans to raise equity capital by BPCL and IOC should strengthen their capex spending and the credibility of their 

emission-reduction plans. READ MORE

4:11 PM

HDFC, IDFC mergers may not trigger consolidation for PSU banks: Analysts

There is more money to be made in PSBs as RoA expansion has peaked for private banks, analysts said. READ MORE

4:09 PM

Eicher Motors extends fall, hits over 2-month low; stock down 11% in 3 days

Bajaj Auto and British motorcycle brand Triumph on Wednesday launched co-developed Triumph Speed 400 and Scrambler 400 X motorcycles in India. READ MORE

4:07 PM

DCB Bank surges 8% as RBI allows Tata MF for raise stake up to 7.5%

The Reserve Bank of India has granted its approval to Tata Asset Management Company (AMC) to increase stake in the private sector lender up to 7.5 per cent. READ MORE

 

 

4:02 PM

JBM Auto cracks 13% as investors book profit after a 51% rally in 12 days

On July 5, JBM Auto had hit a 52-week high of Rs 1,517.5 per share. On a year-to-date basis, the share has more than doubled investors' wealth with a whopping rally of 190 per cent. READ MORE

4:00 PM

Hind Zinc rallies 8%; board to consider interim dividend for FY24 on July 8

Shares of Hindustan Zinc (Hind Zinc) surged 8 per cent to an intra-day high of Rs 336 apiece on the BSE after the Vedanta group company said it will consider an interim dividend payment for financial year 2023-24 (FY24). READ MORE

3:58 PM

Ceat zooms 19% to hit an all-time high; m-cap crosses Rs 10,000 crore-mark

In the past two months, the market price of Ceat skyrocketed 50 per cent after margins expansion of the company were back to double digit in the January-March quarter (Q4FY23). READ MORE

3:57 PM

Puravankara soars over 8% as it records highest-ever sales value in Q1FY24

The sale's value more than doubled, zooming 119 per cent year-on-year, to Rs 1,126 crore from previous year's Q1 sales of Rs 513 crore. READ MORE

3:55 PM

IPO Update: Senco Gold IPO was subscribed 67.7x as of 03:45 PM

3:53 PM

Market Breadth was fairly positive; 232 stocks hit fresh 52-week high on Thursday

3:51 PM

Nifty Realty index surges over 2%; Indiabulls Realestate gains 4%

3:48 PM

Currency Alert: Re ends weaker at 82.51/$, down 28 paise

Source: Bloomberg

3:46 PM

BSE Smallcap Heatmap:: Zee Media, Ion Exchange, DB Realty among significant gainers

3:44 PM

BSE Midcap Heatmap:: SJVN soars 8%; Jindal Steel slips 2%

3:42 PM

Broader indices log stronger gains; MidCaps, SmallCaps jump up to 1%

3:40 PM

Nifty 50 Losers:: Eicher Motors, HDFC Life decline around 2%

3:39 PM

Nifty 50 Gainers:: M&M soars 5%; Apollo Hospitals, PowerGrid, Tata Motors rally up to 4%

3:37 PM

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

3:36 PM

CLOSING BELL:: NSE Nifty50 extends rally to 8th straight day; ends 99 pts higher at 19,497

3:34 PM

CLOSING BELL:: S&P BSE benchmark hits fresh high of 65,833; ends 340 pts up at 65,786

3:23 PM

Global Check:: US stock futures down 0.4%; UK tumble over 1%

Source: Investing.com

3:10 PM

Market Check:: Nifty MidCap 100 outperforms; up almost 1%

2:59 PM

Puravankara soars 13% as it records highest-ever sales value in Q1FY24

The sale's value more than doubled, zooming 119 per cent year-on-year, to Rs 1,126 crore from previous year's Q1 sales of Rs 513 crore. READ MORE

2:47 PM

Adani Green Energy weighs raising $1.5 bn to fund expansion, say reports

Adani Green Energy Ltd.'s board will discuss plans to raise funds from institutional investors on Thursday. READ MORE

2:34 PM

Ceat zooms 19% to hit an all-time high; m-cap crosses Rs 10,000 crore-mark

In the past two months, the market price of Ceat skyrocketed 50 per cent after margins expansion of the company were back to double digit in the January-March quarter (Q4FY23). READ MORE

2:24 PM

Market Check:: Nifty Realty index up over 2%

2:09 PM

Hind Zinc rallies 8%; board to consider interim dividend for FY24 on July 8

Shares of Hindustan Zinc (Hind Zinc) surged 8 per cent to an intra-day high of Rs 336 apiece on the BSE after the Vedanta group company said it will consider an interim dividend payment for financial year 2023-24 (FY24). READ MORE