Share Market News Today | Sensex, Nifty, Share Prices LIVE: Sensex and Nifty opened in the green on Monday and after battling initial volatility remained comfortably in the control of bulls. S&P BSE Sensex rallied 545 points or 0.95% to close at 58,115, while the NSE Nifty 50 index ended at 17,340, up 1.06%. M&M was the top gainer on Sensex, up 6.29%, followed by Power Grid, NTPC, and Bharti Airtel. Sun Pharma was the top laggard, down 2.81%, accompanied by HUL, IndusInd Bank, and Nestle India.
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Sensex and Nifty opened in the green on Monday — the first trading session of the month — and after battling initial volatility remained comfortably in the control of bulls for the entire day. On closing, S&P BSE Sensex zoomed 545 points or 0.95% to end at 58,115, while the NSE Nifty 50 index settled at 17,340, up 1.06%. M&M was the top gainer on Sensex, up 6.29%, followed by Power Grid, NTPC, and Bharti Airtel. Sun Pharma was the top laggard, down 2.81%, accompanied by HUL, IndusInd Bank, and Nestle India. India VIX soared higher and closed above 17 levels.
Bulls remained in control on Dalal Street on Monday helping the S&P BSE Sensex rally 545 points or 0.95% to close at 58,115, while the NSE Nifty 50 index ended at 17,340, up 1.06%. M&M, Power Grid, and NTPC were the top gainers.
Sun Pharma was the worst performing stock on Monday, down 2.6%. It was followed by HUL, IndusInd Bank, Nestle and Asian Paints.
Mahindra & Mahindra was up more than 6% on Monday to sit as the top Sensex gainer, followed by Maruti Suzuki India. Reliance Industries, Kotak Mahindra Bank, and Bharti Airtel were some of the other gainers.
Sun Pharmaceutical Industries’ share price fell 3.5 per cent intraday on Monday, despite a 43 per cent on-year growth in consolidated net profit at Rs 2,061 crore in FY23. The company reported a profit of Rs 1,444 crore in the corresponding quarter of previous year. The stock has risen 18.7 per cent in one year, and 8.3 per cent so far this year. The stock price has added 11 per cent in the last one month. At least three research and brokerage firms have recommended to buy the stock, and see up to 20 per cent upside potential. Read full story
Nifty Resistance is seen at 17300 odd levels, which happens to be 61.8% retracement of the entire down swing seen from 18604 to 15183.
While the Nifty 50 was up in the green, broader markets were performing better on Monday. Nifty Next 50 was up 1.23%, Nifty Midcap 50 was up 1.41% and Nifty Smallcap 100 zoomed 1.6%.
Rakesh Jhunjhunwala’s portfolio stock Nazara Technologies rallied more than 18 per cent to Rs 627 apiece on BSE on Monday, after the company posted a 22 per cent on-year jump in net profit at Rs 16.5 crore in Q1FY23. The stock hit a 52-week low of Rs 484 apiece in June this year, since then Nazara Tech share price has risen nearly 30 per cent. At the end of June 2022 quarter, Rakesh Jhunjhunwala held 10.3 per cent stake or 65.88 lakh shares of Nazara Technologies. Analysts at JM Financial Services have recommended investors to hold the stock. Read full story
All NSE sectoral indices were trading in the green on Monday, except Nifty Pharma and Nifty Healthcare Index.
“Economic indicators from across the globe continue to give mixed signals. With US GDP falling for the second consecutive quarter, meeting the definition of recession, US treasury 2 Yr. and 10 Yr. spread is trading in negative territory, which is used as a predictor of recession. However, market participants continued to throw caution to the wind as indicated by the sharp rally in benchmark indices. Closer home, even though the INR has depreciated against the USD, it continues to be the best performing currency among the emerging countries. Further, record FPI flows after 6 months of consecutive selling and relatively stable inflation numbers compared to other global majors, bode well for Indian markets. Having said that, it is always important to assess markets and investment opportunities with through an asset allocation perspective. Inarguably, there are interesting investment opportunities in the market at the current juncture. At the same time, not all opportunities are available at compelling valuations. Thus, your decision-making should be led by your asset allocation strategy coupled with the long-term outlook for the market.”
~ Anupama Sharma, Executive Director, IIFL Wealth
Bulls continued to control the momentum on Dalal Street as headline indices soared higher on Monday, looking to extend their stellar performance of the previous week. S&P BSE Sensex hit an intraday high of 59,977 points while NSE Nifty 50 hit 17,286. Bank Nifty was above 37,700 however, India VIX was rising sharply, up 6% on Monday. Amid the up-ward momentum, as many as 133 stocks on the BSE hit fresh 52-wee highs while only 28 scrips hit fresh lows. Among Sensex constituents, ITC, Mahindra & Mahindra, and Maruti Suzuki India were the three stocks that soared higher to touch fresh highs.
GST collection in July soared 28 per cent on-year to Rs 1.49 lakh crore, becoming the second highest revenue collection since the introduction of the GST regime. During the month, revenues from import of goods were up 48 per cent, and the revenues from domestic transactions (including import of services) were up 22 per cent from revenues from these sources during the same month last year. “For five months in a row now, the monthly GST revenues have been more than Rs 1.4 lakh core, showing a steady increase every month,” the finance ministry said in a statement. Read full story
Yes Bank share price soared 5.7 per cent to Rs 15.80 apiece on BSE on Monday after the bank announced that the private equity funds Carlyle and Advent International will invest USD 1.12 billion. Technical analysts say that any major move in Yes Bank is likely only above 15.85. “So all up moves should be used to exit. At present levels, no fresh buying is advised. In fact, any slightest of the move on the higher side must be used to exit,” Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services, told FinancialExpress.com. Read full story
India's first-ever auction for 5G spectrum entered the seventh day on Monday with players including Reliance Jio and Bharti Airtel being locked in an intense bidding for coveted 1800 Mhz frequencies mainly for the UP East circle. The cumulative spectrum sale crossed the Rs 1.50 lakh crore milestone on the sixth day of bidding on Sunday.
Rakesh Jhunjhunwala stock Star Health and Allied Insurance Company has rallied more than 50% in a month and analysts see more upside on the stock going forward. After Star Health’s fiscal first quarter results, brokerage firms have maintained their ‘Buy’ ratings, remaining optimistic on the overall prospects of the insurance company. Star Health shares were quoting at Rs 732, down 2.2% on NSE intraday. According to the latest shareholding pattern of Star Health, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold 14.39% and 3.10% stake respectively as of 30 June 2022.
We believe August could turn out to be negative for the pair as the market has already priced in tighter monetary policy and higher inflation. While there is some positive news like foreign institutions turning into net buyers from July and RBI may not go as aggressive as other central banks in hiking interest rates in the upcoming monetary policy meetings as a better monsoon and stable crude oil prices might help cool down inflation. Read full story
Bullion prices traded higher with the gold process reporting the best weekly gains since March 2022 as investors weighed expectations of a slower pace of FED rate hike and concerns over an economic slowdown. Bullion prices recovered sharply after the US FED hiked interest rates by 75 bps while adopting cautious tone over economic recovery. The real boost came after US GDP contracted for the second month which pushed dollar and US treasuries down which attracted safe buying in gold and silver. The dollar index fell by 0.77% to 105.90 for the week while 10 year US treasury yields fell to 2.65%. Read full story
Rising from 53.9 in June, to 56.4 in July, the seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index® (PMI®) highlighted the strongest improvement in the health of the sector for eight months. Moreover, growth upgrades were seen in each of the three monitored market groups.
In June, Indian billionaire Mukesh Ambani and his aides ran into an unexpected dilemma when debating where to train the dealmaking lens of his empire next. Ambani’s Reliance Industries Ltd. was contemplating buying a foreign telecommunications giant, when word reached them that Gautam Adani — who had overtaken Ambani as Asia’s richest man a few months earlier — was planning to bid in the first big sale of 5G airwaves in India, according to people familiar with the matter. Read full story
Housing development Finance Corporation's (HDFC) share price was down in the red on Monday morning as investors reacted to the company’s quarterly earnings that were released on Friday. HDFC had reported a 22% on-year rise in net profit to Rs 3,669 crore in the April-June quarter, however, analysts had higher hopes from the mortgage lender. “HDFC’s earnings missed estimates led by sequentially lower core metrics. AuM growth was largely in-line at 17% YoY mainly driven by individual loans while NII and margins were lower,” said analysts at Prabudas Lilladher.
“Even though oscillators are overbought, zeroing in on a turnaround point is an onerous task, as continuation patterns and momentum remain dominant, suggesting that a significant fall prior to achievement of 17500 is less likely. This is the premise on which we had expressed confidence in the continuation of uptrend after the opening burst on Friday. That said, we will keep the vigil for potential withdrawal in buyers, on approach to17320 and 17045 identified on either sides of present level. Major supports are seen at 16960 and 16800/750 regions,” said Anand James – Chief Market Strategist at Geojit Financial Services.
Sensex trimmed opening gains and was trading flat minutes into the day's trade. Sensex was seen dancing between gains and losses while Nifty 50 was holding just above 17,150.
Sensex and Nifty rose at the opening bell. Sensex opened above 57,800 while Nifty 50 crosses 17,200. India VIX was also up 5%.
“Nifty rose 2.62% for the (last) week and 8.73% for the month (recouping the losses of the previous two months and recording the best monthly gain after Nov 2020). Nifty has risen 1975 points in the past 6 weeks. 17442-17640 could be the next resistance band for the Nifty while 16752 could be the support. Nifty could make a new high in the current week before running into correction the week after,” said Deepak Jasani, Head of Retail Research, HDFC securities.
Sensex breached 57,600 in the pre-open session while Nifty was above 17,200.
“Look to book profit around 17445 and wait for possible cool off for re-entry. We have initiated bullish stance at 16625,” said Rahul Sharma, Director & Head – Research, JM Financial.
The prices of petrol and diesel on August 1, were left untouched by OMCs yet again. Prices have held steady for 68 days now across the country, except in Maharashtra. Pieces were cut in Maharashtra when the new state government announced a cut in value-added tax (VAT) on petrol by Rs 5 a litre and by Rs 3 a litre for diesel earlier this month — a move that will cost the state exchequer Rs 6,000 crore on an annual basis. For the rest of the country, prices have been steady since May 21 when Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre, and Rs x 6 per litre on diesel.
Dalal street was in party mode last week as stock markets roared back smartly and closed above the psychological 17000 level. Equity benchmarks Sensex and Nifty spurted nearly 3 per cent to close over three-month high levels following buying in metal, banking & NBFC, IT and Auto stocks. Strong quarterly results, FII buying and expectations that the US Fed may temper its aggressive interest rate hikes boosted investor sentiment. Sensex barometer jumped 1498 points or 2.70 per cent to settle at 57,570 — the highest closing level since April 25. The broader Nifty rallied 439 points or 2.60 per cent to end at 17,158.
“Technically, the index has formed a ‘Higher Top Higher Bottom’ formation on the daily chart and is retracing the previous downtrend. It has surpassed the 50 per cent retracement of the entire down move from the high of 18600 to 15180 and is now approaching the 61.8 per cent retracement which is seen around 17300. The near-term support for the index has shifted higher and is now placed around 16930 while the medium-term support base has shifted higher to 16550 and 16420. The only cautious factor on the short-term charts is the momentum readings which are again in the overbought zone. However, when in a strong trending move, it is often seen that the upmove continues in the overbought zone as well until any divergences get formed,” said Ruchit Jain, Lead Research, 5paisa.com.
The coming week marks the beginning of the new month also so participants will be eyeing crucial data viz. auto sales, PMI numbers and GST collection figures for cues. The highlight would be the MPC meet after the recent Fed policy and its outcome is scheduled for August 5. On the earnings front, we have some big names like ITC, M&M, Dabur, Titan and Interglobe Aviation for results along with several others.
~ Ajit Mishra, VP – Research, Religare Broking
SGX Nifty was trading 30 points higher on Monday morning. Nifty futures trading with gains suggests a flat to positive start for Dalal Street.
Most economists expect the Reserve Bank of India (RBI) to raise the repo rate by 35-50 basis points (bps) in its policy meeting this week. The monetary policy committee (MPC) is scheduled to meet from August 3-5. With consumer price inflation (CPI) falling to 7.01% in June, analysts expect the MPC to lower its inflation forecast of 6.7% for FY23. Earlier this month, RBI governor Shaktikanta Das said that inflation appears to have peaked, while cautioning that commodity prices remain high despite the softening trend observed in June.