Market Highlights: Sensex ends just below 52,900, Nifty closes at 15,834; SBI, Tata Steel among top gainers.

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Updated: July 5, 2021 4:30:32 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic markets ended in the firm control of bulls on Monday as benchmark indices neared all-time highs.

Share Market Today, Share Market LiveIndia VIX ended in red on Monday. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices soared higher on Monday as bulls asserted control on Dalal Street. Ending in the green for the second day straight, S&P BSE Sensex rose 395 points to close at 52,880 while the NSE Nifty 50 gained 112 points to finish the day’s trade at 15,834. State Bank of India gained 2.16% to end as the top index gainer, followed by Tata Steel, Bajaj Finserv, and Larsen & Toubro. Tech Mahindra, Dr Reddy’s, HCL Technologies, Titan, and Bharti Airtel were the only Sensex constituents to close in Red. Among sectoral indices, only Nifty IT and Nifty Pharma closed in the red. Bank Nifty soared 1.16%.

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Highlights

    16:28 (IST)05 Jul 2021
    Sensex, Nifty end with gains for second day straight; is 16,000 in touching distance now?

    Sensex and Nifty climbed higher on Monday as bulls asserted control on Dalal Street. Marking the second straight day of gains, S&P BSE Sensex rose 395 points to close at 52,880 while the NSE Nifty 50 gained 112 points to finish the day's trade at 15,834. State Bank of India gained 2.16% to end as the top index gainer, followed by Tata Steel, Bajaj Finserv, and Larsen & Toubro. Tech Mahindra, Dr Reddy's, HCL Technologies, Titan, and Bharti Airtel were the only Sensex constituents to close in Red. Broader markets mirrored the up-move. Among sectoral indices, only Nifty IT and Nifty Pharma closed in the red. Bank Nifty soared 1.16%. India VIX ended in the red.

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    15:33 (IST)05 Jul 2021
    CLOSING BELL

    Domestic markets ended in the firm control of bulls on Monday as Sensex ended 395 points higher while Nifty added 112 points. Benchmark indices neared all-time highs. 

    15:25 (IST)05 Jul 2021
    Benchmark indices surge ahead of broader markets

    Headline indices galloped ahead in the final minutes of trade, beating broader markets. India VIX was down 0.22%.

    15:23 (IST)05 Jul 2021
    Sensex breaches 52,900 ahead of closing

    Sensex added to gains and regained 52,900 ahead of the closing bell. Nifty 50 index was just shy of 15,850.

    15:17 (IST)05 Jul 2021
    SBI share price jumps

    State Bank of India's share price soared higher during the final minutes of trade to emerge as the top Sensex gainer, ahead of Tata Steel., SBI was up 1.93% at Rs 432.75 apiece.

    15:07 (IST)05 Jul 2021
    IT stocks underperform

    IT stocks were falling behind and underperforming on Monday. The Nifty IT index was down 0.26%, led by Tech Mahindra, HCL Tech, and TCS. Infosys was in the green. 

    14:59 (IST)05 Jul 2021
    Bank Nifty soars

    Bank Nifty index was up more than 1% ahead of the closing bell. The index was helped by heavyweights such as SBI, HDFC Bank, ICICI Bank, IndusInd Bank, and Kotak Mahindra Bank.

    14:58 (IST)05 Jul 2021
    India VIX drops

    After spending most of the day surging higher, India VIX -- the volatility gauge, has slipped into the red ahead of the closing bell. 

    14:46 (IST)05 Jul 2021
    Robinhood IPO: Company proposes to list ‘HOOD’ on Nasdaq stock market – Check details

    The much-anticipated Robinhood IPO may hit the market anytime soon. Robinhood Markets has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering (IPO) of its Class A common stock.

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    14:22 (IST)05 Jul 2021
    Trade deficit widens as lockdowns ease

    Trade deficit widens as lockdowns ease. Non-oil imports in June picked up from May levels as economic activity started to normalize with easing lockdowns. Domestic demand lags behind global activity levels with non-oil import growth much lower than non-oil exports, for now. We expect the domestic economy to pick up pace in the latter part of FY2022. We maintain our FY2022E CAD/ GDP estimate at 1.1% along with BOP surplus of around US$35 bn. USD-INR is likely to be within 73-75 in the near term.

    ~ Kotak Securities

    14:21 (IST)05 Jul 2021
    Facebook, Apple, other FAANGM stocks outperform NASDAQ last week as Wall Street hits all-time highs

    Wall Street benchmark indices soared higher to claim fresh all-time highs last week, helped by jobs data for June that showed strong recovery in the labour market. Amid the strong upward march, some of the biggest tech names on Wall Street -- Facebook, Amazon, Apple, Netflix, Google, and Microsoft -- collectively called FAANGM, outperformed the benchmark indices. Tech stocks have been trading at high valuations but investors have been lapping onto these stocks. Since the middle of May, tech heavy NASDAQ 100 has zoomed 13% while the Dow Jones has gained merely 4%.

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    14:16 (IST)05 Jul 2021
    BHEL supplies medical oxygen plant in record time

    State-owned engineering firm BHEL has supplied medical oxygen plant in record time to SLG Hospitals – Hyderabad. In response to the critical situation arising out of shortage of medical oxygen in the second half of April, Bharat Heavy Electricals Limited (BHEL) has once again risen to the occasion by venturing into the manufacturing of medical oxygen plants, a BHEL statement said. BHEL’s first medical oxygen plant developed and manufactured, using CSIR-IIP technology, was formally handed over to SLG Hospitals Hyderabad in a record time of less than 35 days from receipt of order.

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    14:01 (IST)05 Jul 2021
    Tata Steel June quarter crude steel output jumps over 43 pc; sales up 35 pc

    Steel major Tata Steel has posted an over 43 per cent jump in its consolidated crude steel output at 7.94 million tonne (MT) during the quarter ended June 30, 2021. The company’s consolidated output of steel in the year-ago quarter was at 5.53 MT, Tata Steel said in a statement released on Sunday. During the April-June period of 2021-22 fiscal, the company’s consolidated sales also rose to 7.14 MT, from 5.33 MT in the same quarter a year ago, a rise of 35 per cent.

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    13:25 (IST)05 Jul 2021
    Bulls in control

    Sensex is above 52,800 while Nifty is comfortable past 15,800. Among the top gainers on Sensex at this hour are Tata Steel, Larsen & Toubro and HDFC Bank.

    12:55 (IST)05 Jul 2021
    June Services PMI: Weakness continues

    India’s services PMI (seasonally adjusted) fell to 41.2 in June, the second consecutive monthly decline (May: 46.4). Weak services activity in June is in line with the contraction seen in the manufacturing PMI ( June: 48.1). However, given the sharp decline in new COVID-19 infections and the significant easing of movement curbs by various state governments, we expect activity in contact-intensive services sector to improve in July.

    ~ Barclay's

    12:42 (IST)05 Jul 2021
    Stocks to buy in July 2021: Nifty Dec target upgraded to 17,400; fall in volatility indicates strong bull run

    Nifty 50 index may head to 17,400 by December 2021, on the back of upgrades in the metals and mining sector which delivered robust results and saw high metal prices, said Axis Securities. In June 2021, India VIX fell to 14, which is significantly lower than the long-term average of 22. The domestic research firm believes that if VIX continues to head southward, it will trigger a further rally in the broader market. Mid Caps and small caps saw the previous bull run in 2017. The broader market regained flavor in the second half of 2020 and the performance has continued in 2021.

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    12:31 (IST)05 Jul 2021
    Debutant India Pesticides trims gains

    Having made a strong listing debut, India Pesticides shares slipped from their opening highs and were trading at Rs 345 per share, down 4% from the listing price. The stock was, however, still above the IPO price. 

    12:02 (IST)05 Jul 2021
    Nifty Outlook

    Through last week, despite systematic slippage, we had rooted for a swing higher, and had identified 15775-685 region to provide a platform for the same. Towards this end, we had looking for a close above 15720 on Friday, to add to our positive bets. Having achieved such a close, we are lining up 16350 (again) for the week, with an intraday objective of 15870. Alternatively, pullback into 15740-720 region after the initial burst will soften the bullish expectations, and a fall back below 15580 will be a clear bear signal for 15090.

    ~ Geojit Financial Services

    11:52 (IST)05 Jul 2021
    India Pesticides reasonably valued

    “India Pesticides listed strongly on the exchanges today with  21% premium at INR 360/Share against its issue price of Rs296/share. Global agrochemicals market is expected to grow at 7% CAGR to USD86bn by 2024 and IPL is well placed to tap this opportunity. Technicals in India which is strongly driven by export led demand and contract manufacturing, is expected to grow at 8% CAGR. With China+1 strategy, it opens huge opportunity for Indian players like IPL. IPL plans to tap this opportunity by manufacturing complex off patented technicals, wherein 19 Technicals are expected to go off-patent between CY19-26 (opportunity of >USD4.2bn). We like IPL given its presence in fast growing agrochemical space, diversified product portfolio and robust financials. Expanding product portfolio, growing customer base and increasing wallet share of existing customers can help IPL maintain its growth momentum. It is reasonably valued at 30.8x FY21 P/E, vis-à-vis peers, while it enjoys higher RoE of 36%," said Sneha Poddar,  AVP, Research, Broking & Distribution, Motilal Oswal Financial Services.

    11:36 (IST)05 Jul 2021
    PSU stocks turning value creators after decade of underperformance; Edelweiss bets on these shares

    Listed public sector companies may now be turning the page, after a decade of underperformance, to emerge as attractive investment opportunities. Domestic brokerage and research firm Edelweiss believes that as the environment turns reflationary and valuations remain at a discount, the fortunes of PSU stocks could change. “PSUs have been value traps in 2010s (flat for decade) in stark contrast to being value creators in 2000s (10x in 10 years),” Edelweiss Securities said in a note. PSU stocks underperformed during the previous decade due to ballooning debt and hurt by the government's pro-cyclical fiscal policy.

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    11:24 (IST)05 Jul 2021
    Nifty to move between 15,450 - 16,000

    "July series range is seen at 15,450 - 16,000. Immediate support is placed at 15,660 while resistance is expected at 15,850/15,915. Mantra for the month: stay selective and stay focus," said Rahul Sharma, Head Technical and Derivative Research, JM Financial.

    11:11 (IST)05 Jul 2021
    Top gainers

    Larsen & Toubro, Bajaj Finserve, and HDFC Bank are the top index gainers at this hour. These are followed by Maruti Suzuki India, Bajaj Auto, and Power Grid. 

    10:52 (IST)05 Jul 2021
    GR Infra IPO: Attractive valuations, strong fundamentals; grey market premium up 42%, should you subscribe?

    GR Infraprojects’ Rs 963-crore IPO will open for subscription on Wednesday, July 7, 2021, in a price band of Rs 828-837 per share of face value of Rs 5, each. The public issue will be entirely an offer-for-sale (OFS) of up to 1.15 crore equity shares by existing promoters and shareholders. In the grey market on Monday, GR Infraprojects shares were trading at a premium of Rs 355 over the IPO price. The shares were trading at Rs 1,192 apiece, implying a premium of 42 per cent over the IPO price, according to the people who deal in shares of unlisted companies.

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    10:48 (IST)05 Jul 2021
    Business confidence weakens to ten-month low

    June data indicated that services firms endured further losses of new business as the emergence of the pandemic and the reintroduction of containment measures restricted demand. Registering 41.2 in June, the seasonally adjusted India Services Business Activity Index highlighted a further contraction in output. Moreover, falling from 46.4 in May, the latest reading pointed to the fastest rate of reduction since July 2020. Monitored companies commonly indicated that the intensification of the COVID-19 crisis and tight restrictions curbed demand for services.

    10:27 (IST)05 Jul 2021
    Rakesh Jhunjhunwala birthday today: Rs 5,000 investment to now Rs 34,000 cr; journey from ‘bear’ to ‘big bull’

    Big bull Rakesh Jhunjhunwala celebrates his 61st birthday today, July 5, 2021. Rakesh Jhunjhunwala, referred to as India’s own Warren Buffet, was born to an Indian Tax officer in a middle class family. The ace investor started trading in the stock market in 1985, when in college. BSE Sensex was around 150 points at the time; and he began investing with Rs 5,000 as capital. According to Forbes, Rakesh Jhunjhunwala’s net worth now stands at $4.6 billion (Rs 34,387 crore), as of 3 July 2021. Rakesh Jhunjhunwala’s first big win was Tata Tea, where he made a profit of Rs 5 lakh in 1986. He bought 5,000 shares of Tata Tea at a price of Rs 43, which zoomed to Rs 143 apiece within just three months, more than tripling his invested money.

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    10:21 (IST)05 Jul 2021
    Nifty needs to breach 15,900

    "The Nifty took good support at the 15600-15650 level on Friday. This morning we have bounced from there and can scale to 16100 only if we get past 15900 on a closing basis. The markets are still range-bound between 15400 and 15900 and until we do not get past one of the levels, we will not witness a meaningful move. However, the bias remains on the upside," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.

    09:59 (IST)05 Jul 2021
    Nifty consolidation may continue ahead of results season

    After the continued range-bound movement seen in June, the first week of the July series also remained lacklustre. Despite positive US equities, emerging markets remained under pressure as the Dollar index moved sharply higher. For the week, the Nifty shed almost 0.8% whereas broader markets continued to outperform and closed in the green. On the sectoral front, due to continued range bound movement and declining IVs, option writers have maximum positions at ATM strikes. For the coming week as well, 15700 Put and 15800 Call hold the highest option base where 15800 Call holds more than 40 lakh shares. We believe the result season may provide some trigger to move out of the prevailing range of 15600-15900.

    ~ ICICI Direct

    09:58 (IST)05 Jul 2021
    Risk-reward ratio not favourable

    "An important recent trend is the divergence in market performance in developed & emerging markets, with the latter underperforming. Many factors like the strong rebound in growth in the US ( June new jobs data came in at 8.5 lakhs against expectations of 7.06 lakhs), strengthening dollar, high valuations in some emerging markets and the consequent sustained FII selling have contributed to this underperformance. A strong rebound in US growth might nudge the Fed to advance rate increases. Of course, they will do this by giving carefully worded advance hints. But markets may anticipate the Fed moves and set directions. Even though the market is strong & resilient in India, at the current level of valuations the risk-reward ratio is not in favour of reward. At higher levels, FIIs are likely to sell more. Q1 FY22 results season kicking off this week is also likely to witness stock-specific action," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    09:51 (IST)05 Jul 2021
    India Pesticides shares list at 21% premium to IPO price; bullish market momentum helps strong debut

    India Pesticides Limited made a stellar debut on the stock exchanges today, as domestic markets surged higher amid bullish market momentum. Shares of the agrochemical firm listed at Rs 360 per share, up 21.62% or Rs 64 from the issue price of Rs 296 per share. India Pesticides Limited (IPL) is a research-driven agrochemical manufacturer of Technicals with a growing Formulations business. It is one of the fastest-growing agrochemicals companies in terms of volume of Technicals manufactured. The company had a market capitalization of Rs 4,400 crore as shares began trading for the first time. 

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    09:45 (IST)05 Jul 2021

    Gold prices opened at MCX at 47349, declining US bond yield and US Dollar which fell against the basket of major currencies last Friday supported the prices of Gold and Silver. Short-term trend in Gold may remain range-bound to upside. In Comex, Gold has a resistance of 1800$ above this level it may move towards 1830$. While 1750$ is a crucial support zone and below this view will be negated. In MCX 47500 is a key resistance level   While Support is placed at 46800.  Silver has support at 69000 and resistance at 70500.  Abhishek Chauhan, Head Commodities and Currency, Swastika Investmart

    09:44 (IST)05 Jul 2021
    Only 2 of 30 Sensex constituents in red

    Tech Mahindra and Dr Reddy's were the only two stocks on Sensex to trade in the red. The benchmark index was seen surging higher on Monday morning. 

    09:44 (IST)05 Jul 2021
    USD-INR pair likely to trade in 73.80-75.00 range in short term

    Domestically, RBI seems busy in building their multi-story building of forex reserves which surged by $5.07 billion to touch a record high of $609 billion. But this looks to be inadequate in front of external shocks. Further, given reserves could just serve 15 months of imports, which is lesser than Switzerland, Japan, Russia, or China’s import coverage ratio. Thus, RBI’s intervention in spot or realization of forward on maturity is likely to remain high to build up sufficient reserves. Overall, we expect that the USDINR pair is likely to trade in the range of 73.80-75.00 over the short term with a mixed bias and 73.50-75.20 over the medium term with an upside bias as domestic fundamentals are in favor of the depreciating Rupee. Amit Pabari, CR Forex Advisors

    09:27 (IST)05 Jul 2021
    Stock-specific action required?

    "The markets are opening up with gains of about 0.5% following the rally seen on the last Friday. Crude oil holding around $75 per barrel on delay in the agreement of the OPEC+. The US markets are gaining as the jobs data is signaling the strong economy. The markets are looking to hold around the same levels with the support at 15,600 and the resistance at 15,900. the markets have become in the consolidation zone where the stock-specific investments are of paramount importance. Keeping close eyes on the quarterly numbers for Q1 FY22 as the impact of the second wave were part of this quarter. Taking stock-specific action with these numbers are important," said Mohit Nigam, Head, PMS - Hem Securities 

    09:17 (IST)05 Jul 2021
    OPENING BELL

     The domestic markets began trading in the green on Monday morning, amid positive global cues. Broader markets were outperforming benchmarks.

    09:09 (IST)05 Jul 2021
    Pre-open ends in green

    Nifty was just shy of 15,800 while Sensex was slightly below 52,682 ahead of the opening bell.

    09:06 (IST)05 Jul 2021
    Nifty may head to 16,100 in coming weeks, Bank Nifty positive; Infosys, Axis Bank stocks top bets

    We believe, in the past three weeks, healthy consolidation (15900-15500) helped index to form a higher base in the range of 15600-15500. We expect the index to gradually resolve above the upper band of consolidation and eventually head towards 16100 in coming weeks as we approach Q1FY22 earnings season. Thereby dips should be capitalised as incremental buying opportunity.

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    09:05 (IST)05 Jul 2021
    Nifty may trade in 15,500-16,000 range, Bank Nifty may see buying above 35,000; trading strategy, outlook

    The chart pattern suggests that if Nifty crosses and sustains above 15800 level it would witness buying which would lead the index towards 15900-16300 levels. However, if the index breaks below 15600 level it would witness selling which would take the index towards 15400-15300. Nifty is now well placed above its 50 and 100 SMA indicating positive bias in the short term. Nifty is expected to remain in an uptrend to sideways zone until it breaks 15600 on the downside. For the week, we expect Nifty to trade in the range of 16100-15600 with mixed bias.

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    09:02 (IST)05 Jul 2021
    Sensex, Nifty gain

    Sensex was above 52,700 during the pre-open session while Nifty 50 index zoomed past 15,800 amid positive global cues. 

    08:55 (IST)05 Jul 2021
    Remain bullish with the stop loss of 15600 levels

    First sign of short covering in the Nifty and Bank Nifty Futures, Put writing at 15600-15700 levels and short-covering by FIIs’ in the Index Futures segment Indicates that one should remain optimistic for the markets. Therefore, our advice is to remain bullish with the stop loss of 15600 levels. On the higher side 15800-15900 level will act as an immediate resistance where Puts have been written.

    ~ HDFC Securities

    08:54 (IST)05 Jul 2021
    FPIs continue to book profits

    "As per NSDL data, FPIs bought equity worth Rs 17215 crores in June. This takes the total FPI investment in equity for CY21 to Rs 60342 crores. Continuing with the trend of selling in the debt market FPIs sold debt worth Rs 4828 crores in June taking the total debt selling to Rs 22151 crores in CY21. The second half of June witnessed continuous selling in equity by FPIs. In the 10 trading sessions between 17th to 30th June FPIs sold continuously in 8 sessions. The selling in cash markets is actually very high since there are many block deals (predominantly buying) happening outside the cash market. FPIs may continue to book profits in India, going forward. However, they are unlikely to sell aggressively in India, in spite of higher valuations, since India Inc is all set to report excellent numbers in FY22," said VK Vijayakumar, Chief Investment Strategist at Geojit financial services.

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