Stock Market Highlights, July 1: Mid, SmallCap indices hit record highs; Sensex gains 443 pts

Stock market Highlights on Monday, July 1, 2024: Tech M, Bajaj Finance, Ultratech Cement, TCS, Infosys, JSW Steel, HUL, HDFC Bank, Tata Motors, ITC, ICICI Bank, Titan were the top gainers today

3:51 PM

Comment :: 'Consistent buying interest on dips suggests bullish control'

The consistent buying interest on dips suggests bullish control, likely continuing the current tone. The renewed strength in midcap and smallcap segments adds further positivity. Traders should focus on selecting sectors/themes with rotational participation and consider adding positions during pauses or dips.


Views by: Ajit Mishra – SVP, Research, Religare Broking

3:46 PM

Comment :: Why did IT stocks rise today, July 1?

he domestic market sustained its upward momentum, with a reduction in US PCE inflation raising hopes for a rate cut by the FED in September. This optimism contributed to the strong performance of IT stocks. We anticipate this trend will persist in the near term due to expectations of a rebound in discretionary spending. Investors are now focusing on upcoming US job data and the Fed Chair's speech for further indication on interest rates.

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

3:42 PM

Currency check :: Rupee ends 6 paise weaker at 83.44/$

3:40 PM

Broader markets :: Mid, SmallCap indices gain over 1%, hit record highs

3:39 PM

Sensex Heatmap :: Tech M, Ultratech, Bajaj Fin among top winners

3:37 PM

Closing Bell :: Nifty holds 24,100

3:36 PM

Closing Bell :: Sensex zooms over 400 pts after tepid start

3:29 PM

PVR Inox rallies 6%, hits over 5-month high on recovery hopes

According to reports, Kalki 2898 AD, the film which was released in theatres last week, has been minting money across the globe. As per the film's team, the multilingual 3D spectacle has entered the Rs 500 crore club within four days of its global release. READ MORE

3:16 PM

Explained: What is Basic Demat Account charges, Sebi rule, investment limit

A Basic Service Demat Account just like a normal Demat account helps investors to hold equity shares/ other securities investments such as – bonds, mutual funds, exchange traded funds (ETFs)  in an electronic format. It is also commonly known as a Dematerialised account.  READ MORE

3:01 PM

ALERT:: Eicher Motors June sales up 10.6%; stock down 0.5%

Eicher Motors in an exchange filing today reported 10.6 per cent growth in June 2024 sales to 7,424 units as against 6,715 units sold a year ago.

2:50 PM

This stock has rallied 31% in 4 days on fund buying; up 237% in 1 year

Sharda Motor hit a new high of Rs 2,618.80, surging 19% on the NSE in intra-day trade and has zoomed 31% in past 4 days after promoter sold nearly 9% stake in the auto ancillary company via open market. READ MORE

2:39 PM

Tata Steel, SAIL: Analysts give 'sell' call on steel stocks; here's why

Individually, Welspun Corp, and Steel Authority of India dropped 8.5 per cent each, NMDC 4.9 per cent, APL Apollo Tubes 3.8 per cent, and Adani Enterprises 2 per cent in the last one month. READ MORE

2:28 PM

Japan revises economic growth in Q1 downward; data shows sluggish demand

Analysts had expected the downward revision in the GDP data for January-March and said it was mainly based on a change in data on construction activity. READ MORE

2:19 PM

JSW Energy share price hits 52-week high after unit signs PPA with SJVN

The surge in the stock price came after the JSW Energy announced that its unit has inked a power purchase agreement (PPA) with SJVN. READ MORE

2:08 PM

REC's shares climb 5% over steady growth in Q1FY25 loan disbursements

Shares of REC soared up to 4.9 per cent intraday at Rs 551 on the BSE in Monday’s intraday trade. This came after the public sector undertaking reported a 27.8 per cent increase in loan disbursements to Rs 43,652 in the first quarter of fiscal year 2024-25. READ MORE

1:55 PM

ALERT:: SML Isuzu June sales jump 38%; stock surges 6%

SML Isuzu in an exchange filing on Monday reported 37.9 per cent growth in total car sales in June 2024 when compared to previous year.

1:47 PM

Nifty IT index jumps 2%; Tech Mahindra, Persistent hit 52-week highs

The Nifty IT index has outperformed surging 14% in the last one month owing to the recent portfolio shift after the election outcome, and hope for better calendar year 2025. READ MORE

1:35 PM

IREDA stock price zooms 6% on strong June quarter business update

The uptick in the stock price came after the company announced a strong set of June quarter (Q1FY25) business update. READ MORE

1:22 PM

ALERT:: MIC Electronics gets nod from Railways for fresh registration; stock up 5%

MIC Electronics in an exchange filing today said, the company had received approval of fresh registration for Emergency Lighting System for railway coaches - from Ministry of Railways.

1:10 PM

Paytm, PVR Inox: Can laggards of H1-2024 script turnaround? Here's what chart say

Paytm, PVRInox, Bandhan Bank, Syrma SGS Technology and Alkyl Amines: Trading strategies for stocks that ended as losers in the first-half of 2024. READ MORE

12:58 PM

SmallCap index hits new peak; Roto, Atul Auto, Wockhardt zoom up to 19%

Smallcap stocks rally today: Shares of small-cap companies were on a roll on Monday with the BSE SmallCap index hitting a new high of 52,843 level, gaining over 1 per cent on the BSE in the intraday. The index surpassed its previous high of 52,542.41, touched on June 25. READ MORE

12:47 PM

Oil marketing companies slash commercial LPG cylinder prices by Rs 30

Commercial LPG cylinder prices for July have been further cut by Rs 30, after being reduced by Rs 70 in June. Its aimed at providing relief to enterprises in the food and hospitality industries. READ MORE

12:37 PM

IndiGo to keep flying high: Analysts see up to 34% upside; UBS says 'Buy'

UBS in a note on the company said that it expects Indigo's market share gains in international travel to continue, further aided by A321 XLRs and A350s in the medium to long term. READ MORE

12:26 PM

ALERT :: Man Industries (India) expects revenue growth of 100% in 2 years

12:17 PM

ALERT :: REC rallies 3.5% on Q1FY25 business update

12:05 PM

Orchid Pharma rises 4% on deal with Cipla to roll out new UTI drug in India

According to Orchid Pharma, the launch of Cefepime-Enmetazobactam represents a major achievement for India's pharmaceutical sector in combating antimicrobial resistance (AMR), a growing global health concern. The collaboration underscores India's leadership in medical innovation. Orchid Pharma and Cipla expressed confidence that their partnership will establish new standards in addressing critical healthcare challenges through advanced research and strategic alliances. READ MORE

11:50 AM

BEL stock surges on Rs 3,172 crore-order win from Armoured Vehicles Nigam

In an exchange filing, the company said, Navratna Defence Public Sector Undertaking, Bharat Electronics Limited (BEL), has signed a contract valued at Rs 3,172 crore with Armoured Vehicles Nigam Limited (AVNL) on June 28, 2024, at AVNL Headquarters in Chennai.  READ MORE

11:35 AM

Are chemical & fertiliser shares ready for fresh rally? Key levels here

Coromandel International

Support: Rs 1,500; Rs 1,455

Resistance: Rs 1,640
 

Coromandel International July contract saw 8.4 per cent addition in OI, as the stock rose nearly 2 per cent on Friday. READ MORE

11:23 AM

ALERT :: L&T wins 'significant' offshore order from ONGC

>> The L&T Energy Hydrocarbon (LTEH) vertical of Larsen & Toubro (L&T) has secured an order from the Oil & Natural Gas Corporation (ONGC) for the eighth phase of Pipeline Replacement Project (PRPVIII Group B) off India's west coast. 

>> 'Significant' order ranges from Rs 1,000 to 2,500 crore.
 

11:10 AM

ALERT :: Mahindra Auto sells 40,022 SUV in June 2024

>> M&M's total exports were at 2,597 units in June 2024 vs 2,505 units in June 2023, up 4% Y-o-Y