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Share Market Highlights: Sensex ends 326 points higher, Nifty 50 closes at 15835; ITC, HUL among top gainers

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic stock markets zoomed ahead in the dying hour of trade to close with gains.

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India VIX closed with losses. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic stock markets closed the first trading session of the week with gains. S&P BSE Sensex gained 326 points or 0.62% higher at 53,234 while the NSE Nifty 50 index added 83 points or 0.53% to end at 15,835. Bank Nifty zoomed 1.2% to closed at 33,940, and broader markets followed. India VIX slipped 1.32% to end at 20.97. HUL was up 4% as the top Sensex gainer, followed by IndusInd Bank, ITC, and ICICI Bank. TCS was the top laggard, accompanied by Tata Steel, M&M, and Dr Reddy’s laboratories.

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16:28 (IST) 4 Jul 2022
Sensex snaps losing streak to close with gains, Nifty ends above 15800 but may face resistance ahead

Bulls returned to Dalal Street and halted the three-day losing streak on Monday as headline indices rose in the last hour of trade. S&P BSE Sensex gained 326 points or 0.62% higher at 53,234 while the NSE Nifty 50 index added 83 points or 0.53% to end at 15,835. Hindustan Unilever was up 4% as the top Sensex gainer, followed by IndusInd Bank, ITC, and ICICI Bank. TCS was the top laggard, accompanied by Tata Steel, Mahindra & Mahindra, and Dr Reddy's laboratories. Bank Nifty zoomed 1.2% to closed at 33,940, and broader markets followed. India VIX slipped 1.32% to end at 20.97. 

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15:33 (IST) 4 Jul 2022
CLOSING BELL

Dalal Steet witnessed a volatile trading session but bulls dominated the dying hour of trade with Sensex adding 326 points or 0.62% to settle at 53,234 while NSE Nifty 50 gained 83 points or 0.53% to end at 15,835.

15:27 (IST) 4 Jul 2022
Sensex above 53,200

Sensex was above 53,200 as bulls powered ahead in the dying minutes of trade. Nifty 50 was below 15,850.

15:13 (IST) 4 Jul 2022
Only six Sensex stocks in red

TCS was the top Sensex drag, down 2.29% followed by Tata Steel, M&M, Tech Mahindra, Dr Reddy's, and Wipro.

14:52 (IST) 4 Jul 2022
Nifty breaches 15800

Nifty breached 15,800 mark on Monday afternoon with less than an hour left before the closing bell. The index traded volatile earlier in the day but nearing the closing bell, bulls seem to be in control.

14:37 (IST) 4 Jul 2022
Gold prices to trade sideways to down this week, following import duty hike; support at Rs 51200 per 10 gm

Commodity prices traded lower with most of the commodities in the non-agro segment continuing to decline while crude oil prices remained exceptions with marginal gains. Bullion prices declined on market expectations over aggressive FED in July meeting and India import duty hike. Base metals traded weak on lower demand from China and global slowdown concerns along with stronger dollar. Crude oil prices traded firm on supply concerns and strong demand for the year. Read full story

14:28 (IST) 4 Jul 2022
Indian Rupee falls for 6th straight month in June; may remain patchy on capital outflow, dollar liquidity

The Indian rupee extended its drop for the sixth month in trot and closed to life low level of 78.98. India’s expanding trade gap and capital outflows are raising new risks for the rupee, as the currency plunged to a record low it also adds to inflation woes. Going ahead path for the rupee remains patchy as multiple factors are unfavourable from domestic as well as from the overseas front. Whether it is capital outflows or dollar liquidity all are indicating further depreciation. The only factor which curbs the weakness in the rupee will be the central bank’s intervention and the government’s policy to incentivize the dollar inflows. Read full story

14:14 (IST) 4 Jul 2022
ITC among 67 BSE stocks to hit new 52-week high; GR Infraprojects, others at fresh 52-week lows

BSE Sensex and NSE Nifty 50 were trading volatile on Tuesday, on the back of mixed global cues. The 30-share index hit day’s high of 52,675, while Nifty 50 rose to 15,661.80 so far in the trade. In the afternoon deals, out of 30 stocks on S&P BSE Sensex, ITC hit fresh 52-week high of Rs 290.50, surpassing its previous high of 285, touched in previous session, While no stock hit fresh 52-week low on S&P BSE Sensex so far in the trade. Read full story

13:40 (IST) 4 Jul 2022
Delhivery share coverage initiated by ICICI Securities, Morgan Stanley; check target price

Delhivery shares made their stock market debut in May this year with marginal gains and in the little over a month post listing, shares have remained in the same region. Initiating the coverage of the stock, ICICI Securities and Morgan Stanley see a bright future but little to no upside as valuations remain high. While Morgan Stanley has given the stock an equal-weight rating, ICICI Securities has a ‘Hold’ rating on the stock. “Delhivery’s B2C-heavy business model has a potential profit pool of Rs 63 billion in India in our view (by FY26E). Our base case assumes Delhivery to capture ~25% of the same,” ICICI Securities said. On Monday the stock was trading at Rs 503 per share, up 1%.

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13:28 (IST) 4 Jul 2022
Positive move in FMCG, Banking, Financial Service and Realty stocks

Nifty opened marginally lower and has been trading in a narrow range of 150 points. The index is seen facing some pressure at higher levels but getting some support at the lower levels and is hovering in a broader range of 15500 to 16000. Now the index has to hold and sustain above 15735 for any move towards higher levels but the upside is limited. India VIX is hovering at 22 which indicates volatility likely to continue and creating discomfort for the bulls. It needs to cool down for stability and a directional move in the market. Now till it holds above 15735 we can expect an up move towards 15888 and 16000 whereas a break of this level could open a downside move towards 15500 zones. Market breadth is positive which indicates that there support based buying at lower levels. Today, we are witnessing positive move in FMCG, Banking, Financial Service and Realty stocks whereas weakness can be seen in the sectors like Auto, Metal, Media, IT and Pharma space.

~ Chandan Taparia, Vice President, Equity Derivatives and Technical, Broking & Distribution, Motilal Oswal Financial Services

13:19 (IST) 4 Jul 2022
Sensex, Nifty sit with gains

Sensex and Nifty were trading with gains on Monday afternoon. Sensex was up nearly 150 points or 0.30% while Nifty 50 index was above 15,750, up nearly 0.15%.

12:57 (IST) 4 Jul 2022
Crypto crash impact: Vauld suspends withdrawals, trading and deposits due to ‘financial challenges’

Cryptocurrency exchange Vauld has suspended all withdrawals, trading and deposits on its platforms in view of rising “financial challenges”. In a statement on its website, Vauld said the exchange has witnessed withdrawals above $197.7 million since 12th June 2022 when the crypto markets crash was triggered by the collapse of TerraUSD (UST), followed by Celsius Network pausing withdrawals and Three Arrows Capital defaulting on their loans.

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12:01 (IST) 4 Jul 2022
Bearish for July

“Bullish for July with bouts of volatility expected. We have initiated positional long on Nifty with a staggered approach to enter longs in two tranches. Also initiated JMFS Technical Monsoon Basket for July to be bought in two tranches. Expected targets for Nifty in July/August seen at 16,200/16,400 & 16,800. Relief rally on the cards albeit with some volatility,” said Rahul Sharma, Director & Head – Research, JM Financial.

11:47 (IST) 4 Jul 2022
Sensex drags

Tata Steel stock was down more than 2% on Monday, followed by M&M, TCS, and Dr Reddy's.

11:35 (IST) 4 Jul 2022
In green

Sensex and Nifty were trading flat with marginal gains on Monday morning. Sensex was just shy of 53,000 mark while Nifty 50 was at 15,750.

11:06 (IST) 4 Jul 2022
Reliance Industries’ refining margins may be hit by new govt tax, but analysts still bullish on RIL stock

Reliance Industries' share price tanked 7% on Friday and traded flat on Monday as investors reacted to the government’s new taxes on petrol, diesel, and ATF export. Apart from the tax on exports, the government of India has also imposed a windfall tax on domestic oil producers and asked them to sell 30% of their diesel domestically. While analysts project some refining margin hit for Mukesh Ambani-led Reliance Industries, most remain optimistic on the stock and have reiterated their ‘buy’ calls. “Export taxes/restrictions and windfall taxes on oil producers are a global trend and highlight the tightening energy market outlook,” said Morgan Stanley in a note. 

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10:29 (IST) 4 Jul 2022
15,600 support for Nifty

“The Federal Reserve will release the minutes of its June monetary policy meeting, which investors around the world will be keenly awaiting. Corporate results season for the June quarter will shortly begin, and the market may soon start displaying some stock-specific action. Investors ought to pick companies with solid fundamentals and pay close attention to management comments. Immediate support and resistance for Nifty are 15,600 and 16,000 respectively. Immediate support and resistance for Bank Nifty are 33,000 and 34,000 respectively,” said Mohit Nigam, Head – PMS, Hem Securities.

09:33 (IST) 4 Jul 2022
Best strategy for investors would be to buy high-quality large-caps

“Market movements this month are likely to be significantly influenced by the Q1 results starting with TCS's results on 8th July. More than the actual numbers, the market will be focused on guidance. Similarly, in financials particularly banking, the market will be keen to know the trends in credit growth rather than the decline in treasury income, which is already known. The buoyancy in GST collections and June auto numbers indicate that economic recovery is gaining momentum, in spite of many headwinds, and this bodes well for the market's performance in H2 FY23. In the present context of high near-term uncertainty, the best strategy for investors would be to buy high-quality large-caps in a calibrated manner and wait with patience.”

~ V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

09:19 (IST) 4 Jul 2022
Trading red

After having opened with marginal gains, Sensex and Nifty began trading with marginal losses on Monday morning as tug of war between bulls and bears continued.

09:18 (IST) 4 Jul 2022
OPENING BELL

Sensex started the day flat with marginal gains and so did Nifty 50 as its hovered above 15750.

09:10 (IST) 4 Jul 2022
Breach of 15927 could take Nifty higher

“Nifty on daily charts has formed a bullish hammer pattern though its placement is not ideal. Nifty has a fair chance of extending this upmove. A breach of 15927 could take it to the gap resistance of 16172, which may be tough to breach. In case this is breached, the upward momentum will accelerate,” said Deepak Jasani, Head of Retail Research, HDFC securities.

09:04 (IST) 4 Jul 2022
Nifty witnessing tug of war between bulls & bears, needs to hold above 15735 for up-move; check stocks to buy

Bulls attempted a comeback in the Indian bourses last week as Sensex and Nifty managed to end in positive territory despite most of the global markets closing on a negative note. Soft oil price, favourable government policy, improved GST collection (Rs 1.44 lakh crore, up 56.5% YoY) and impressive June auto monthly sales data boosted the market sentiment. Sensex gained 180 point (0.3%) to settle at 52,907 while NSE Nifty index advanced 53 points or 0.3% to end at 15,752.

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09:01 (IST) 4 Jul 2022
Pre-open

Sensex rises 100 points in pre-open session while Nifty was trading with losses.

08:39 (IST) 4 Jul 2022
Petrol and diesel price July 4: Fuel rates remain unchanged; Check prices in Delhi, Mumbai, other cities here

The prices of petrol and diesel on Monday, July 4 were left untouched as OMCs continue to sell fuel at steady prices for more than a month now. Prices have remained undisturbed since Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre, and Rs 6 per litre on diesel on May 21. Petrol price in Delhi today stands at Rs 96.72 a litre as against Rs 105.41 a litre prior to the cut in excise duty, while diesel will cost Rs 89.62 a litre as opposed to Rs 96.67. In Mumbai, one litre of petrol costs Rs 111.35 while diesel retails at Rs 97.28 per litre.

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08:26 (IST) 4 Jul 2022
15930 resistance level has become a critical resistance

The Nifty 50 index ended the week slightly lower after trading mostly within a 350-point range. The short-term trend continues to remain bearish, but the nifty has outshone its global peers, with most global equity indices trading or breaking below their recent support. The 15930 resistance level has become a critical resistance level, which needs to be broken to confirm the short-term uptrend. As long as the Nifty does not break above this level, traders should maintain a neutral to a faintly negative outlook. Negative global sentiments are likely to keep the market under strain till then.

~ Yesha Shah, Head of Equity Research, Samco Securities

08:23 (IST) 4 Jul 2022
Buy these two stocks for gains while Nifty trades bearish; trend reversal only if index breaches 16000

Since April 5, the Nifty 50 is trading in a lower high lower low formation and whenever prices retrace near its 21-day exponential moving average which is placed at 15880 levels we find a strong resistance and the price drifts lower after. On the weekly chart, the Nifty is forming a lower high, lower low pattern, indicting the negative undertone of the index.

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08:18 (IST) 4 Jul 2022
SGX Nifty down, mixed global cues, Nifty-Bank Nifty support, resistance; key things to watch out for on 4 July

Domestic stock market benchmarks BSE Sensex and NSE Nifty 50 were looking to start in red on Monday, as suggested by trends on SGX Nifty in early trade. Nifty futures were ruling 16.50 points or 0.10 per cent down at 15,728 on Singaporean Exchange. In the session, the Sensex shed 111 points or 0.21% on Friday to settle at 52,907 while NSE Nifty 50 index slipped 28.20 points or 0.18% to end at 15,752. Analysts say this week will mark the beginning of the earnings season and the IT major, TCS, would announce its number on July 8. Read full story

07:59 (IST) 4 Jul 2022
SGX Nifty in red

SGX Nifty was down 16 points on Monday morning. The marginal loss on SGX Nifty suggests a muted start for both the benchmark indices.

07:59 (IST) 4 Jul 2022
Trade with positive bias

“… till the Nifty trades above 15500 mark, one should continue to trade with a positive bias and look for stock specific buying opportunities in the coming week. On the higher side, 15850-15900 is seen as the immediate near term resistance on the lower time frame charts and a breakout from this should lead Nifty towards the retracement marks of 15990 and 16180,” said Ruchit Jain, Lead Research, 5paisa.com.

07:58 (IST) 4 Jul 2022
HDFC and HDFC Bank merger proposal gets nod from bourses

The proposal of merger of HDFC with its banking subsidiary HDFC Bank, the biggest transaction in India’s corporate history, has got approval from stock exchanges.Both HDFC and HDFC Bank have got no-objection from both stock exchanges. HDFC Bank has received observation letter with ‘no adverse observations’ from BSE Limited and observation letter with ‘no objection’ from the National Stock Exchange of India Limited, both dated July 2, 2022, HDFC Bank said in a filing.

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