Sensex ends above 65,000, Nifty 19,300 for the first time; RIL zooms 2.5%

Closing Bell on July 3, 2023: The S&P BSE Sensex settled at a fresh closing high of 65,205, soaring 486 points. The broader Nifty50, meanwhile, zoomed 141 points to 19,330

4:09 PM

COMMENT:: Positive eco data, global cues boost sentiment

"Sentiments of investors are reinforced by positive domestic data and optimistic global cues. Global market was supported by resilient economic data, avoiding the possibility of a recession. India's stock market trend was broad-based, owing to the outperformance from energy, financial, metal, and FMCG sectors. Economic activities are gaining strength with PMI level enlarging to 57.8, indicating sustained demand for products, fostering a sense of confidence in the manufacturing prospects."

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

4:07 PM

Nifty PSU Bank index surges nearly 4%; Canara, BoB, BoI, PNB rally up to 7%

Shares of public sector banks (PSBs) were in focus on Monday with the Nifty PSU Bank index surging nearly 4 per cent on expectation of improvement in the banking industry's loans ratio amid favorable economic prospects. In the past two trading days, the index has rallied 6 per cent. READ MORE

4:05 PM

HDFC twins surge up to 4% after fixing July 13 as record date for merger

HDFC Bank hit a record high of Rs 1,758, while HDFC hit a 52-week high of Rs 2,926. READ MORE

4:03 PM

UltraTech Cement hits record high; gains 2% on strong sales volume in Q1FY24

UltraTech's consolidated sales volumes up 19.6 per cent YoY at 29.96 mt, where domestic grey/white cement sales volume grew by ~20 per cent/11 per cent YoY, respectively. READ MORE

4:02 PM

OMCs rally up to 7% on improved outlook; HPCL, IOC scale 52-week highs

In the past one-year, shares of OMCs have risen between 18 per cent and 28 per cent on the back of a fall in crude oil prices. Brent crude prices have corrected 20 per cent in the past one year. READ MORE

4:00 PM

Suzlon Energy hits over 5-year high; zooms 105% in 7 weeks

Brokerage firm ICICI Securities has initiated the coverage on Suzlon with 'Buy' rating and a target price of Rs 22 per share. READ MORE

3:57 PM

Market Breadth marginally positive; BSE market-cap nears Rs 300-trn mark

3:55 PM

Nifty Healthcare index dips 1%; Glenmark, Laurus Labs, Aurobindo Pharma top laggards

3:53 PM

Nifty IT index slips 0.5%; TCS declines nearly 1%

3:50 PM

BSE Smallcap Heatmap:: ADF Foods zooms 19%; Surya Roshni, 63 Moons crack over 8%

3:49 PM

BSE Midcap Heatmap:: L&T Finance, JSW Energy soar up to 7%; Persistent Systems dips 3%

3:46 PM

MidCaps underperform; SmallCaps outperform; India VIX rises nearly 7%

3:43 PM

Nifty 50 Losers:: PowerGrid, Bajaj Auto, Sun Pharma slip up to 2%

3:42 PM

Nifty 50 Gainers:: Grasim, ITC, BPCL rally around 3%

3:39 PM

Sensex 30 Heatmap:: 15 Gainers v/s 15 Losers

3:38 PM

CLOSING BELL:: NSE Nifty50 settles atop 19,300, gains 134 pts

3:33 PM

CLOSING BELL:: S&P BSE benchmark extends rally, ends higher for 4th straight trading session; up 486 pts

The BSE benchmark index has rallied 2,234 points in the last four trading sessions.

3:26 PM

Nifty PSU Bank index surges nearly 4%; Canara, BoB, BoI, PNB rally up to 7%

Shares of public sector banks (PSBs) were in focus on Monday with the Nifty PSU Bank index surging nearly 4 per cent on expectation of improvement in the banking industry's loans ratio amid favorable economic prospects. In the past two trading days, the index has rallied 6 per cent. READ MORE

3:17 PM

RBI ALERT::76% of Rs 2,000 notes received back

76 per cent of Rs 2,000 notes worth Rs 2.72 lakh crore have been received back by the RBI as of June end.

3:07 PM

SpiceJet repays last Rs 25 cr to settle City Union Bank's Rs 100 cr loan

Low-cost airline SpiceJet on Monday settled a Rs 100 crore loan to City Union Bank (CUB) by repaying Rs 25 crore as a part of the loan account’s final tranche, the company said in a press release. READ MORE

2:57 PM

PVs make up just 16% of the Indian auto sector in volume, but 58% in value

Indian automobile sector created a value of $108 billion or Rs 8.7 trillion in the financial year 2022-23 (FY23), according to a report by management consultancy firm Primus Partners (PP). READ MORE

2:51 PM

Federal Bank Q1 advances up 21%; deposits grow 21.4% to reach Rs 2.22 trn

Federal Bank has posted a 20.9 per cent year-on-year (YoY) growth in advances at Rs 1.86 trillion in the quarter ended June 30, 2023 (Q1 FY24). READ MORE

2:47 PM

Weak rural labour market pushes India's unemployment rate above 8%

The unemployment rate jumped to 8.45% in June from 7.68% in the previous month, according to the Centre for Monitoring Indian Economy Pvt. While unemployment in urban areas eased to 7.87% last month. READ MORE

2:36 PM

IndusInd Bank says all dues cleared by ZEEL, NCLAT disposes of appeal

The tribunal has asked both parties to pay the cost of the interim resolution professional for the period the case was under the resolution process. READ MORE

2:25 PM

Tata Motors to hike prices of PVs from July 17 to offset input costs

The auto major noted that it will offer price protection to bookings made up to July 16, 2023 and deliveries up to July 31, 2023. READ MORE

2:14 PM

India's manufacturing PMI softens slightly to 57.8 in June from 58.7 in May

India’s manufacturing activity in June expanded at the second highest pace this year, driven by robust demand for the country’s goods in domestic and international markets, said a private survey on Monday. READ MORE

2:03 PM

OMCs rally up to 7% on improved outlook; HPCL, IOC scale 52-week highs

In the past one-year, shares of OMCs have risen between 18 per cent and 28 per cent on the back of a fall in crude oil prices. Brent crude prices have corrected 20 per cent in the past one year. READ MORE

1:52 PM

ALERT:: Maruti June production down 5% at 1.37 lakh units; stock down 1%

Maruti manufactured 1.37 lakh unit vehicles in June 2023 1.44 lakh units produced in the same month a year ago.

1:43 PM

EXPERT COMMENT:: Time to be cautious, as Nifty valuations above historical average

"The ongoing rally in the market has made valuations very rich. Nifty is trading at above 20 times estimated FY24 earnings. This is higher than the historical average. Momentum can take the market higher; but at high valuations risk is high. Some presently unknown negative developments can trigger a sharp correction. So, even while remaining invested in the market, investors have to be cautious.", says Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services in a note.

1:32 PM

HDFC Bank: Despite merger, stock may remain sideways, caution analysts

With the merger between HDFC Bank and HDFC Ltd behind us, analysts said the next key monitorable for the Street would be successful resolution of merger-related hiccups, including employee-related churn and roll out of complete banking services across branches. READ MORE