RIL shines in lacklustre trade; Sensex ends 64 pts up; broader indices slip

CLOSING BELL ON JULY 10, 2023: Reliance alone contributed 302 points to the BSE Sensex as the stock finished 3.8 per cent higher. The NSE Nifty 50 was up 24 points at 19,356 on Monday.

4:04 PM

Tech View :: 'Buy dips in Nifty, Bank Nifty'

The Nifty witnessed a range-bound trading session and consolidated within the range (19,524 – 19,303) of the previous trading session. It closed in the green by ~24 points. On the daily charts, we can observe that the Nifty is in the process of retracing the rise it has witnessed in the previous couple of weeks. The crucial Fibonacci retracement level and gap area coincide around 192,00 – 19,180 which could act as a support zone from a short-term perspective and on the upside 19,520 – 19,550 shall act as an immediate hurdle zone from a short-term perspective. The daily momentum indicator has a positive crossover and thus this dip should be bought into.

 

As far as Bank Nifty is concerned, the Index continued to trade with a negative bias. It witnessed follow-through selling pressure and filled the gap area between 44,800 – 44,900 created on July 3, 2023. The Bank Nifty is in the process of retracing the rise it witnessed in the last couple of weeks and there are multiple supports in the form of Fibonacci retracement levels around 44,840 – 44,587 which could arrest the downside. The correction is providing an opportunity for an entry and this is a dip that should be bought into.

Views by: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

3:57 PM

Comment :: 'More consolidation likely; limit leveraged positions'

Indications are in favor of further consolidation in the index and the recent dip in the US markets is also weighing on the sentiment. It is thus advisable to limit leveraged positions and wait for the resumption of the trend. 

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

3:52 PM

Currency check :: Rupee ends at 82.57/$ against Friday’s close of 82.74/$

3:48 PM

Market Check :: Losers outnumber gainers on BSE; m-cap nears Rs 300 trn

3:46 PM

Market Check :: Top losers on the BSE today

3:45 PM

Market Check :: Top gainers on the BSE today

3:44 PM

Buzzing stock :: Vadila Ind sprints 14% on report Bain Capital is in talks to buy the ice cream maker

3:43 PM

Buzzing stock :: Olectra Greentech surges over 40% in 3 days on Rs 10,000-cr order from MSRTC

3:42 PM

Buzzing stock :: Prism Johnson slips 6% on 1,420-acre land transfer plan to Ramco Cements

3:40 PM

Buzzing stock :: Cyient DLM ends 59% higher over issue price

3:39 PM

Buzzing stock :: Reliance Industries rallies 4% on finance unit listing, retail buyback plans

3:38 PM

Broader indices slide amid profit booking; MidCap index slips the most

3:36 PM

Sector check :: All but Metal index settle in the negative zone

3:35 PM

Sensex Heatmap :: RIL helps to keep the 30-pack index afloat

3:34 PM

CLOSING BELL :: Nifty holds 19,350

3:32 PM

CLOSING BELL :: Sensex ends volatile session less than 100 pts up

3:21 PM

Soaring vegetable prices can tip delicate inflation balance: Economists

However, if the spike in vegetable prices sustains, it could push July inflation towards 6%, said Gaura Sen Gupta, an economist at IDFC First Bank. READ MORE

3:09 PM

Global Check:: US, UK stock futures exhibit mixd trend

Source; Investing.com

2:58 PM

PE investments in real estate down 5% YoY at 1.9 bn in Q1 FY24: Report

Private equity (PE) investments in Indian real estate declined five per cent year on year (YoY) to $ 1.9 billion in April-June 2023 (Q1 FY24) as interest rates increased. READ MORE

2:46 PM

$7.5 bn SGX-traded futures has tepid start after shifting to India

The average number of open contracts for NSE International Exchange's key product GIFT Nifty was 32,934 in the week to July 7, according to data compiled by Bloomberg. READ MORE

2:36 PM

Gas regulator to pitch for building gas storage to boost clean fuel usage

India should build storage for natural gas to boost the use of cleaner fuel in the country and hedge against global price volatility, Chairman of Petroleum and Natural Gas regulatory board A K Jain said on Monday. READ MORE

2:24 PM

Adani-Hindenbur Matter: Sebi files affidavit in Superme Court

Sebi has filed 41-page Affidavit seeking appropriate orders from the Supreme Court with regards to Adani-Hindenburg matter, reports CNBC-TV18.

2:15 PM

ALERT:: L&T and Navantia team-up for Project 75 (India) submarine program

Larsen & Toubro and Navantia, Spain, signed a Teaming Agreement (TA) today for the purpose of submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine program.

2:03 PM

Akzo Nobel India surges 5%, hits record high on steady growth outlook

In the past one month, the stock has outperformed the market by gaining 12 per cent as compared to a 4.4 per cent rise in the S&P BSE Sensex. READ MORE

1:53 PM

Chole Bhature, Biryani, Momos: What's India ordering most on Zomato?

North Indian cuisine dominates on Zomato with almost around 25 per cent contribution to both orders and gross merchendise value. READ MORE

1:42 PM

Maruti Suzuki looking to replicate diesel engine frugality with hybrid, CNG

Maruti Suzuki has clarified that it will not get into diesel vehicles and instead focus on developing and introducing CNG and strong hybrid vehicles. READ MORE

1:31 PM

Arvind, Raymond: Textile stocks with land bank may rise up to 16%

Shares of textile stocks possessing land bank were seen trading with resilient sentiment lately. Shares of Raymond hits a new historic peak on Monday, and Century Textile and Industries reached a new 52-week high in the previous session. READ MORE

1:20 PM

ALERT:: Spectrum Foods Q1 net up 33%; stock hits 5% upper limit

Spectrum Foods on Monday reported a 33.5 per cent growth in Q1FY24 net at Rs 2.47 crore when compared with Rs 1.85 crore in Q1FY23. Total income also rose 30 per cent YoY to Rs 5.33 crore from Rs 4.10 crore.

1:11 PM

Global Check:: Asian markets mixed; Hang Seng up 0.8%; Nikkei down 0.6%

Source: Yahoo Finance

1:01 PM

ALERT :: Xchanging Solutions zooms 9% on dividend worth Rs 15 for FY24