Stock Market Highlights, July 19: Sensex tanks 739 pts, Nifty gives up 24,550 ahead of Budget week

Stock Market Highlights on Friday, July 19, 2024: The selling in the broader market was even steeper with the BSE MidCap and SmallCap indices falling 2.2 per cent each

4:04 PM

Tech View :: 'Weakness can continue in Nifty; support at 24,350'

On the daily charts, we can observe that the Nifty has faced resistance at the zone of 24,850 – 24,900 where Fibonacci levels were placed.

The negative divergence and crossover on the momentum indicator indicate that the weakness can continue.

In terms of levels, 24,400 – 24,350 is the crucial support zone while 24,730 – 24,780 shall act as a crucial resistance from short term perspective.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

4:00 PM

Tech View :: Options data shows bearish sentiment for Bank Nifty

Bank Nifty closed at its day’s low, forming a bearish candlestick on the daily chart.

The active call writing and put covering suggest weaker sentiment.

Traders should maintain a sell-on-rise strategy, with resistance at 52,500.

Bullish positions are recommended only if the index closes above 52,500.

Further weakness is expected if it closes below its 21-day EMA at 52,000.

Views by: Rupak De, Senior Technical Analyst, LKP Securities

 

3:52 PM

Budget and Markets :: Policy outlook key to sustain recent Nifty50 rally

The sharp rally post-election results has been aided by a reversal in foreign institutional investors' flows into the positive territory and a sustained inflow into domestic mutual funds.

Considering the slow start to earnings growth in Q1 FY25, policy direction in the upcoming Budget 2024 will be key to sustain it, as the forward P/E premium of India over MSCI emerging markets has touched +2SD above the mean level.

We maintain our Nifty50 target of 25,683, a marginal upside from the current levels, with a preference for large- caps.

We maintain our Overweight rating on the capital goods, cement, electronics manufacturing services (EMS) and financial sectors.

Views by: InCred Equities

3:47 PM

Currency check :: Rupee ends flat at 83.66/$

3:45 PM

Broader markets :: Mid, SmallCap indices slide over 2% each

3:43 PM

Sectoral trends :: All sector indices settle in the red zone

3:42 PM

Sensex Heatmap :: 26 of the 30 index stocks nurse losses; Infy, ITC buck trend

3:40 PM

Closing Bell :: Nifty ends below 24,550

3:39 PM

Closing Bell :: Sensex falls over 700 pts, ends below 81,000

3:19 PM

ICICI Bank, TCS, Grasim: 5 F&O stocks with high PCR for your watchlist

TCS

Support: Rs 4,250

Resistance: Rs 4,420
 

TCS PCR stands at 1.3; with highest OI in Puts seen at Rs 4,000 Strike followed by Rs 4,200 and Rs 4,100. Fresh Put writing was visible at Rs 4,300 and Rs 4,350 Strikes; indicating likely support for the stock around Rs 4,250 levels going ahead. READ MORE

3:03 PM

UltraTech Cement Q1FY25 Results

2:47 PM

JSW Infrastructure's shares slump 7% after subdued Q1; check details

Share prices of JSW Infrastructure slipped as much 7.52 per cent at Rs 311 per share on the BSE in intraday deals of Friday. This was followed by a weak performance in the April-June quarter of financial year 2024-25 (Q1FY25). The company reported a nearly 8 per cent year on year (Y-o-Y) fall in consolidated net profit to Rs 296.5 crore for Q1FY25 on the back of increased expenses in the quarter. READ MORE

 

2:36 PM

RVNL signs MoU with Israel-based United Construction; stock 12% off lows

The uptick in share price came after the company announced that it has signed Memorandum of Understanding (MoU) with United Construction Limited, Israel. The RVNL stock has bounced back 12 per cent from its intra-day low of Rs 569.80 on the BSE. READ MORE

 

 

2:20 PM

Market Alert:: Nifty50 falls to day low

2:07 PM

LTIMindtree stock gains on bagging mutli-million dollar contract extension

Shares of LTIMindtree rose as much as 2.11 per cent to hit an intraday high of Rs 5,875.65 per share on Friday. The share price rose after the company announced that it has secured mutli-million dollar contract extension from Absa Bank. READ MORE

1:56 PM

ITC stock update :: ITC gains 2% in weak market, nears record high; stock up 19% from June low

The stock price of cigarettes-to-hotels conglomerate was trading at its highest level since January 5, 2024. The stock was 4 per cent away from its record high of Rs 499.60 touched on July 24, 2023. The stock was quoting higher for the sixth straight trading day, having rallied 6 per cent during the period. The stock has bounced back 19 per cent from its previous month low of Rs 403 hit on June 4. READ MORE

1:45 PM

Market sector update :: These are the top losing sectors on the NSE at this hour

1:33 PM

South Indian Bank share price jumps 6% on strong June quarter show

Gross advances grew Rs 8,478 crore in Q1FY25, from Rs 74,102 to Rs 82,580 crore marking an increase of 11.44 per cent on Y-o-Y basis. CASA was at Rs 33,196 crore as on 30 June 2024, up 6.5 per cent Y-o-Y. Additionally, the CASA ratio stood at Rs 32.0 per cent as on 30 June 2024, as against 32.64 per cent as on 30 June 2023. READ MORE
 

1:21 PM

This Tata group stock has zoomed 37% in 2 days; hit 20-month high

At 12:24 pm; TTML was trading 11 per cent higher at Rs 107.78, as compared to 0.50 per cent decline in the BSE Sensex. The average trading volumes at the counter jumped over six-fold. A combined 248.5 million shares representing 12.7 per cent of total equity of TTML changed hands on the NSE and BSE. READ MORE

1:10 PM

Oil prices trade lower

12:55 PM

ALERT:: London Stock Exchange faces outage

12:45 PM

In tax records, the marked rise of companies reporting zero income

Fewer than 600,000 companies filed Income Tax returns in assessment year 2012-13. The assessment year typically captures income recorded in the previous financial year; all the yearly data in this analysis refers to the assessment year. READ MORE

12:33 PM

Shoppers Stop stock price falls 6% on weak June quarter results

Earnings before interest, tax, depreciation and amortisation (Ebitda), also known as operating profit, fell 16.8 per cent to Rs 142.9 crore in Q1FY25, from Rs 171.9 crore in Q1FY24. READ MORE

12:22 PM

June quarter results :: Avantel falls over 7% after weak Q1 show

>> Profit falls to Rs 8.08 crore vs Rs 13.08 crore QoQ and Rs 8.69 crore YoY

12:11 PM

Realty check: Avoid buying commercial real estate stocks, caution analysts

“The commercial real estate shares are richly valued at present, with many of them already discounting FY26 earnings. Investors should not be in a hurry to take new positions unless there is deep value visible in the counters," said Deven Choksey, MD, DRChoksey FinServ. READ MORE

11:58 AM

Market Check :: Sensex breaks below 81,000

11:43 AM

IPO Update : Sanstar IPO sails through in first hour of subscription led by NII push

11:27 AM

June quarter results :: Paytm's loss widens to Rs 840 crore

11:14 AM

Zydus Life Vadodara facility gets OAI report from USFDA, stock falls 3%

Shares of Zydus Life fell as much as 2.89 per cent to hit an intraday low of Rs 1,151 per share on Friday. READ MORE

 

11:10 AM

Market Check:: Mid, SmallCap indices fall 2%