Stock Market Highlights, July 3: Sensex rises 545 pts, ends near 80,000; HDFC, Axis Bank gain 2%

Stock Market Highlights on July 3: In the broader markets, the BSE MidCap and the BSE SmallCap index rose 0.86 per cent each.

3:52 PM

Tech View :: What are the key levels for Bank Nifty?

The Bank Nifty index witnessed strong momentum and surpassed the hurdle of 53,000 on a closing basis. The index is trading in a strong uptrend with higher high and higher low formations on the daily chart. The immediate support now stands at 52,500, and a dip towards this support would be an ideal opportunity to initiate fresh long position.

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

3:51 PM

Nifty Outlook :: 'Move above 24,400 could open room for next target of 24,900'

A small negative candle was formed on the daily chart with a gap-up opening (body gap, not a western gap) at the new highs with minor lower shadow. Though this market formation looks like a doji type pattern or a consolidation at new highs, the underlying trend of the market remains positive. Presently, such consolidations or minor dips are eventually resulting in an uptrend continuation pattern.

 

Having reached near to the overhead resistance of around 24,400 levels (1.618% Fibonacci Extension), the market could shift into further consolidations/range bound movement in the short term before showing further upmove in the near term.

A decisive move above 24,400 levels could open the next upside target of 24900 levels (1.786% Fib. Extension) in the coming week. Immediate support is placed at 24,110 levels.  

Views by: Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities 

 

 

3:47 PM

Currency check :: Rupee ends 3 paise higher vs US dollar

3:43 PM

Broader markets :: Mid, SmallCap indices up .86% each

3:42 PM

Sensex Heatmap :: Adani Ports, private banks settle as top large-cap leaders

3:40 PM

Closing Bell :: Nifty ends above 24,250

3:39 PM

Closing Bell :: Sensex surges over 500 pts, settles near 80,000

3:19 PM

ALERT :: Motilal Oswal gets warning from Sebi

Motilal Oswal Financial Services (MOFSL) on Wednesday said it has received an administrative warning from market regulator Sebi following an examination carried out of the stock broking activities of the company. The lapses were with respect to uploading of unique client code (UCC) data of clients on Multi Commodity Exchange of India, the company has disclosed adding that the "authority has warned and advised the company to avoid recurrence." MOFSL said there is no impact on financial, operation or other activities of the company.

3:07 PM

Analysts pick stocks to buy as Sensex hits 80,000; HDFC Bank, ITC top bets

Even as the BSE Sensex index has touched the 80,000-mark for the first time in intraday deals on July 3, analysts believe the ongoing rally has more legs. The up-move, they said, would be driven by sectors such as financials and consumption, which have underperformed over the past few months. READ MORE

2:57 PM

Emcure Pharma IPO subscription status: Issue subscribed 75% so far on Day 1

Emcure Pharmaceuticals subscription status: Pharmaceutical major Emcure Pharma's Rs 1,952-crore initial public offer (IPO) walked past the halfway mark on the first day of the bidding on Wednesday, July 3, 2024. READ MORE

2:48 PM

AMCs look strong but high valuations risk sharper fall in downturns

Given gains in equity prices, it is not surprising that the earnings of asset management companies (AMCs) are growing quicker. The earnings momentum looks set to continue. Good fund performances have thus led to AMC earnings upgrades although valuations are high. READ MORE

2:39 PM

NBFCs' consumer, gold loan sanctions shrink QoQ in Q4 FY24 after RBI action

Loans sanctions by finance companies in consumer credit and gold loan categories shrunk sequentially in the fourth quarter of financial year 2023-24 (Q4 FY24), after the banking regulator cautioned about the pace of such credit expansion. READ MORE

2:27 PM

'Domestic flows will sustain, but will not rise meaningfully from here'

The pockets of the market in which excess exuberance can be seen will undergo a reality check of earnings and valuations, said Gautam Sinha Roy of ICICI Pru Life Insurance. READ MORE

 

2:18 PM

Crisis-hit Paytm woos merchants with health plan at Rs 35 a month

Paytm's health care plan offers merchant partners benefits such as unlimited doctor 'teleconsultation' and in-person doctor visits. READ MORE

2:11 PM

Primary Market Update:: Bansal Wire IPO subscribed 41% on Day 1 so far

Retail portion was subscribed 60 per cent as of 2 PM.

1:59 PM

ALERT:: Alembic Pharma June quarter update; stock trades flat

Alembic Pharma in an exchange today said the company received a total of 206 ANDA approvals, including 179 final approvals and 27 tentative approvals from the USFDA.

1:51 PM

This smallcap stock has zoomed 251% against QIP price in less than 4 months

Shares of Shakti Pumps (India) (SPIL) hit a new high of Rs 4,240.80, gaining 5 per cent on the BSE in Wednesday’s intra-day trade, extending its past four days up move on the bourses. READ MORE

 

1:41 PM

ALERT:: Union Bank of India gets credit ratings upgrade; stock rises 2%

Union Bank of India in an exchange filing said India Ratings upgraded its ratings on seven of the bank's bonds.

1:31 PM

Kingdon never disclosed any relationship with Hindenburg: Kotak Mahindra Bank

Kingdon informed KMIL that the transactions were made on a principal basis, i.e. for themselves, said the bank in a stock exchange filing. READ MORE

1:20 PM

Federal Bank shares hit new peak after reporting robust growth in Q1FY25

Federal Bank reported robust growth in its financial metrics for the first quarter of fiscal year 2024-25 (FY25). The bank's advances surged by 20 per cent, reaching Rs 2.66 trillion. READ MORE

1:10 PM

ALERT:: ABB India inks deal with M&M; stock up 0.7%

ABB India in an exchange filing today said, the company's innovative PixelPaint technology has been selected by Mahindra & Mahindra (M&M) for its new electric vehicle paint facility. 

12:59 PM

India faces high debt, but sustainable for now: NCAER director-general

At nearly 82 per cent of GDP, India's public debt is very high, but the country doesn't face debt sustainability issue on account of high growth rate and higher share of local currency debt, NCAER Director General Poonam Gupta has said. READ MORE

12:51 PM

Persistent Systems hits 52-week high on acquiring US firm for $20.7 mn

Persistent Systems Inc., the US-based subsidiary of company, entered into a stock purchase agreement on July 2, 2024, to acquire Starfish Associates for a total acquisition cost of $20.7 million. READ MORE

12:42 PM

ICICI Prudential MF launches Energy Opportunities Fund: Check details

ICICI Prudential Mutual Fund has announced the launch of the ICICI Prudential Energy Opportunities Fund, an open-ended equity scheme focused on the energy industry. The new fund offer (NFO) opened on July 2 and will close on July 16, 2024. READ MORE

12:31 PM

V-Mart up 5% after Q1 biz update impresses investors; store sales up 11%

Shares of retail chain operator V-Mart Retail jumped as much 4.77 per cent to hit a fresh 52-week high of Rs 3,030.25 per share on Wednesday. READ MORE

12:20 PM

June services PMI rises on back of new orders, international sales

The headline Purchasing Managers' Index (PMI) figure released by HSBC on Wednesday rose to 60.5 in June from 60.2 in May. READ MORE

12:09 PM

Sensex sees third fastest 5,000-point gain in history to reach 80,000 mark

The fastest 5,000-point rally for the Sensex was nearly three years ago (September 24, 2021) when the index hit an intraday high of 60,333 in a span of just 28 trading days. READ MORE

11:58 AM

Sector check :: Nifty Bank index gains 2%

11:47 AM

Market Check :: Top gainers on the BSE at this hour

11:35 AM

Warehouses are hot property! At $2.5 bn, realty investments touch 3-yr high

The biggest driver of this investment surge is the industrial & warehousing sector, attracting a whopping 61% of the total investment, or $1.5 billion. This trend is likely fueled by India's booming e-commerce sector and the increasing focus on domestic manufacturing. Investors are recognizing the potential of high-quality warehouses and logistics facilities in this rapidly growing market. READ MORE