Market Highlights, July 5: RIL, SBI lead fag-end recovery; benchmarks end flat; HDFC Bank down 4%

Stock Market Highlights on July 5: Shares of RIL gained 2.58 per cent, helping the Sensex, and Nifty indices recoup losses

3:47 PM

Tech View :: 'Nifty Bank is stuck in 53,000-53,200 range'

The Bank Nifty index witnessed a volatile trading session, mainly declining due to a fall in HDFC Bank. The index is currently stuck in a range with resistance visible at 53,000-53,200, where aggressive call writing is observed, and support at the 52,300-52,100 zone.

The index needs to break decisively on either side for trending moves. However, within the range, the view remains bullish, and declines should be utilized to buy the index.

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

3:46 PM

Tech View :: 'Last-hour spike in Nifty shows resilient bullish trend'

The index started with a gap down. However, after the initial weakness, Put writers returned heavily. The 24,200 level witnessed heavy writing on the put side, marking a short-term support for Nifty. The last-hour spike in the Nifty shows the resilience of the bullish trend. This strength is likely to prevail in the market until it breaks below 24,200 decisively. A fall below 24,200 might induce profit booking in the market.

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

3:43 PM

Currency check :: Rupee ends flat vs US Dollar

3:41 PM

Broader markets :: Mid, SmallCap indices end near record highs

3:39 PM

Sensex Heatmap :: RIL, SBI surge over 2% to help benchmarks trim losses

3:38 PM

Closing Bell :: Nifty ends in green, holds 24,300

3:37 PM

Closing Bell :: Sensex ends sharply off lows aided by RIL

3:24 PM

Bajaj Auto stock up 2% on launch of world's 1st CNG bike; Hero Moto down 3%

In March, Bajaj had said that in CNG bikes, carbon dioxide emission is down by almost 50 per cent, carbon monoxide by 75 per cent, and non-methane hydrocarbons by 90 per cent when compared to gasoline. He had also said it would effectively double mileage or halve the cost of fuel. READ MORE

3:14 PM

Restaurants Brand Asia stock rallies 5% after HDFC Mutual Fund buys stake

Reportedly, Goldman Sachs India Equity Portfolio has sold a total of 88,57,188 shares in June 2024, with transactions including 47,97,361 shares at Rs 104.05 on June 25 and 40,59,827 shares at Rs 105.53 on June 14, totaling approximately Rs 92.76 crore divested from its holdings in Restaurant Brands Asia. READ MORE

3:01 PM

Divgi TorqTransfer Systems surges 11% on Maha govt's 'mega project' status

Shares of Divgi TorqTransfer Systems zoomed 10.6 per cent at 787.15 per share on the BSE in Friday's intraday. This came after the company received a letter from the Ministry of Industries. READ MORE

2:50 PM

IPO ALERT:: EFFWA IPO subscribed 9.9 times on Day 1 of the offer period.

2:41 PM

101 BSE stocks now in Rs 1 trillion market cap club; RVNL, MDL new entrants

RVNL, MDL, Samvardhana Motherson International, Cummins and Indus Towers, have joined the elite club in CY24; These stocks have surged up to 174% thus far this year. READ MORE

2:32 PM

Utkarsh Small Fin Bank stock down 3.5% on muted Q1 loan growth sequentially

Utkarsh Small Finance bank reported a 2.7 per cent Q-o-Q rise in gross loan portfolio. READ MORE

2:19 PM

RBI has cancelled licence of 7 co-operative banks since Jan: Here's why

Co-operative banking involves small financial institutions established by a group to meet the capital needs of their specific community. READ MORE

2:06 PM

CG Power, K Raheja Corp ink agreement to develop Mumbai land; stock up 8%

The developer has to complete the entire construction and development of the 'new building'; the company and the developer shall be entitled to an equal share, i.e., 50% in the new building. READ MORE

1:55 PM

Britain's PM-elect Keir Starmer inherits weak economy with 'no magic wand'

Living standards have stagnated since Conservatives took power in 2010 and Britain's recovery from the Covid pandemic has been the weakest among big rich nations after Germany. READ MORE

1:43 PM

Thermax's stock rises 5% after subsidiary wins work order worth Rs 513 cr

Thermax shares zoomed 4.6 per cent at 5287.10 per share on the BSE in Friday's intraday trade after the company informed the bourses that it has bagged a big work order worth Rs 513 crore. READ MORE

1:31 PM

ALERT:: Utkarsh SFB reports Q1 business update; stock down 3%

1:24 PM

80% developers expect increase in housing demand from NRIs in 2024: Report

As many as 80 per cent of developers expect non-resident Indians (NRIs) to buy more homes in the country in 2024 due to an “attractive investment landscape”, favourable regulations, and potential for gains, according to a survey released on Friday. READ MORE

1:12 PM

This pharma stock has surged 16% on Friday; zoomed over 100% so far in CY24

Shilpa Medicare hit a multi-year high of Rs 672.50, rallied 16% after the company's CDMO customer reported positive results from pivotal clinical trial & placed binding purchase order. READ MORE

Photo: Bloomberg

1:01 PM

Budget Watch: Sitharaman likely to address banking, insurance reforms

As Finance Minister Nirmala Sitharaman prepares to present her seventh consecutive Budget later this month, she will have to take a call on issues related to banking and insurance. READ MORE

New Delhi: Union Minister Nirmala Sitharaman at the Parliament House complex during the first session of the 18th Lok Sabha, in New Delhi, Wednesday, June 26, 2024. (Photo: PTI)

12:51 PM

Mahindra Lifespace shares rally up to 6% on bagging deals worth Rs 2,050 cr

Shares of Mahindra Lifespace Developers zoomed 6.1 per cent at 647.70 per share on the BSE in Friday's intraday trade. READ MORE

 

12:38 PM

Asian stocks notch records, pound stable after Labour Party's victory

Asian share markets scaled new highs on Friday as investors sized up US rate cuts for September and the mood was upbeat, while the euro hit a three-week peak ahead of French elections. READ MORE

12:27 PM

Healthcare at new high; Lupin, Glenmark among 5 stocks for up to 15% upside

5 breakout pharma stocks: Glenmark, Lupin, Laurus Labs, Dr Lal PathLabs and Zydus Life can potentially rally up to 15 per cent, suggest charts. READ MORE

12:15 PM

Nephro Care IPO makes bumper debut on NSE SME; lists at 90% premium

Nephro Care India's IPO aimed to raise Rs 41.26 crores, consisting solely of fresh issue shares of around 4.58 million shares. The IPO's price band was set between Rs 85 and Rs 90 per share, with a minimum lot size of 1600 shares requiring an investment of Rs 1,44,000 for retail investors. READ MORE

12:01 PM

BGR Energy locks in 5% upper circuit on plans to raise up to Rs 1,000 cr

The uptick in stock price came after BGR Energy Systems Ltd announced that it plans to raise up to Rs 1,000 crore through a rights issue of equity shares. The decision was, however, approved by the company's board of directors in a meeting held on July 4. READ MORE

11:50 AM

Ahluwalia Contracts stock hits all time high on order win from AAI; up 18%

Ahluwalia Contracts (India) Ltd began its journey in 1965 as an EPC company. It was formally incorporated on June 2, 1979, acquiring the operations of four construction partnership firms the following month. By September 1990, it transitioned into a Public Limited Company. READ MORE

11:39 AM

BEML zooms 18%, hits all-time high in weak market on healthy outlook

BEML has three business verticals. In the financial year 2023-24 (FY24), Defence & Aerospace contributed 19 per cent of the total revenue, Rail Metro contributed 38 per cent, and Mining and Construction contributed 43 per cent. The company has a total order book position of Rs 11,872 crore as on March 31, 2024. READ MORE

11:24 AM

ALERT :: Zaggle Prepaid enters into an agreement with Hero Motocorp

>> Zaggle would provide Hero Motocorp Limited the Zaggle Save (Employee expense management & benefits)

>> Tie period of this agreement is from July 4, 2024 till the termination of Agreement 

11:11 AM

ALERT :: Schneider Electric in focus; stock flat