Sensex ends range-bound session 274 pts up; financials weigh, IT, RIL gain

CLOSING BELL ON JULY 11, 2023: The NSE Nifty ended 84 points or 0.4 per cent higher, while the Bank Nifty and Nifty Financial Services declined 0.2 per cent and 0.4 per cent, respectively on Tuesday.

4:06 PM

Tech View :: 'Technical indicators suggest a potential decline in the market'

The overall trend remains bullish for the Nifty50 index as it sustained above the near term moving average on Tuesday. The RSI indicated a bearish crossover, suggesting a potential decline in the market. There is a support level at 19,400/19,300, which might prevent further downside movement. On the upside, there is a resistance level at 19,550, which could potentially limit upward movement in the market.

Views by: Rupak De, Senior Technical analyst at LKP Securities

4:04 PM

Tech View :: 'Bank Nifty has a strong resistance at 45,200'

The Bank Nifty index is currently experiencing continued dominance from bears as selling pressure persists from higher levels. The index is facing a strong resistance zone at 45,200, which has proven difficult to surpass.At present, the index is trading near a crucial support zone of 44,800-44,750. If this support zone is breached, it is likely to lead to further downside movement towards the 20-day moving average (20DMA), which is positioned at the 44,500-44,000 range.The Bank Nifty index has been trading within a broad range of 44,500-45,500. In such a range-bound scenario, it is advisable for traders to utilize opportunities presented by both the upside and downside movements.

Views by: Kunal Shah, Senior Technical & Derivative analyst at LKP Securities

3:59 PM

Comment :: 'Market now awaits the Q1 result'

The market now awaits the Q1 results, IT sector which kicks off tomorrow, where expectations are muted with a focus on the sustenance of margin and improvement in long-term guidance. The positivity also stems from China's anticipated stimulus to withstand economic growth and hope on the moderation in US inflation data. The overall valuation for India is marginally above the long-term average, which is fair given strong earnings expectations on FY24.

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

3:58 PM

Comment :: 'Utilize this phase to gradually accumulate stocks on dips'

The pressure in the banking pack is capping the upside while others are trying their best to push the markets higher. Though it may further delay the resumption of the trend, the tone is likely to remain positive. Besides, we are closely eyeing the US markets for cues and their sustained recovery could trigger the next leg of up move. Meanwhile, we reiterate our view to focus on stock selection and utilizing this phase to gradually accumulate them on dips.  

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

3:57 PM

Global markets :: US index futures in green

3:56 PM

Global markets :: Record UK wage growth adds to inflation fears; Euro indices mixed

Source: CNBC

3:54 PM

Bond market :: Yields on 10-year G-Sec ease on Tuesday

3:53 PM

Currency check :: Rupee ends at 82.37/$ against Monday’s close of 82.57/$

Source: Bloomberg

3:50 PM

BSE Stats :: Gainers outnumber losers by 400 stocks

3:48 PM

Buzzing stock :: Vadilal Industries fall 5.5% after it issues clarification on Bain Capital takeover

Co says:

>> Vadilal Industries Limited regularly evaluates various opportunities for restructuring, investments or divestments in the course of its business.

>> There is no information which has not been announced by the Company to the stock exchanges and which should have been announced by the Company.

Note: Reports earlier suggested Bain Capital is in talks to buy ice cream maker Vadilal

3:45 PM

Buzzing stock :: Kalyan Jewellers zooms over 50% in 1 month

3:43 PM

Buzzing stock : Premier Explosives freezes at 20% upper circuit on Rs 552-cr order win

Check details here

3:41 PM

Buzzing stock :: Cyient DLM zooms 85% in 2 days

3:40 PM

Buzzing stock :: Vedanta ends near day's low after Foxconn pulls out of JV

3:38 PM

Broader indices outperform large-cap peers; indices rise up to 1%

3:37 PM

Sectoral trends :: Financials, metal stocks weigh on the indices

3:36 PM

Nifty Losers :: HCL Tech, JSW Steel cap gains on the index

3:35 PM

Nifty Gainers :: Eicher Motors rebounds post last week's drubbing

3:34 PM

Sensex Heatmap :: 19 stocks rally on the index; Sun Pharma, Maruti, TaMo lead

3:33 PM

CLOSING BELL :: Nifty50 ends below 19,450

3:32 PM

CLOSING BELL :: Sensex gains over 250 pts amid upbeat global mood

3:24 PM

Global Check:: US, UK stock futures display mixed trend

Source: Investing.com

3:18 PM

India's steel output grows 8.37% to 33.63 MT in Apr-Jun: SteelMint

Higher production and capacity ramp-up activities by steel mills will meet the increasing demand, the research firm said in a note. READ MORE

3:07 PM

Dr Reddy's to enhance presence in emerging segments like nutraceuticals

In its Annual Report for 2022-23, the Hyderabad-based drug major informed the shareholders that it also intends to follow a disciplined approach towards cash management and acquisitions. READ MORE

2:58 PM

ALERT :: Shree Cement sees sharp knock amid reports of MCA inspection

Reports suggest:

>> MCA has ordered probe against company w.r.t related-party transaction, corporate governance, improper tax filing

2:51 PM

ALERT :: Government orders inspection of Byju’s account books

India’s government has ordered an inspection into the account books of education-technology titan Byju’s, which has been rocked by the resignation of its auditor and three board members last month, according to people familiar with the matter.

 

The Ministry of Corporate Affairs has sought a report in six weeks, said the people, asking not to be named as the information isn’t public. The inspection follows an internal assessment of the company’s state of affairs and — based on findings of the inspection — the government will decide if the matter needs to be escalated to the Serious Fraud Investigation Office. READ MORE

2:50 PM

ALERT:: PCBL Q1 net slips 6%; stock off day's high

PCBL today reported 6.2 per cent dip in Q1FY24 net profit to Rs 118.07 crore when compared with Rs 125.91 crore in Q1FY23. Total income declined by 8.5 per cent YoY to Rs 1,300.17 crore from Rs 1,420.29 crore.

2:46 PM

ALERT :: SC hears Adani-Hindenburg Research

Adani group says:

>> Need to see Sebi reply

>> SC defers hearing to August

2:44 PM

Adani-Hindenburg case Alert: CJI says affidavit filed by Sebi should be circulated

Chief Justice of India (CJI) says that the affidavit filed by Sebi in the Adani-Hindenburg case should be circulated, reports CNBC TV-18

2:35 PM

Stock Alert:: Bajaj Finance dips nearly 4% from day's high