Share Market Highlights: Sensex closes 427 pts higher at 54178, Nifty ends at 16132; Titan, Tata Steel top gainers

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty continued to rise as bulls once again dominated Dalal Street momentum.

Share Market Highlights: Sensex closes 427 pts higher at 54178, Nifty ends at 16132; Titan, Tata Steel top gainers
India VIX slipped below 20 levels on Thursday. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic headline indices were in the firm grip of bulls on the weekly futures & options expiry session on Thursday. S&P BSE Sensex zoomed 427 points or 0.80% to close at 54,178 while the NSE Nifty 50 index settled at 16,132, adding 143 points or 0.89%. Bank Nifty soared 1.74% higher while India VIX fell 5.28% to give up 20 levels. Among stocks, Titan was the top gainer, ending 5.88% higher, followed by Tata Steel, L&T, and IndusInd Bank. Dr Reddy’s was the top laggard, falling 1.3%, accompanied by Nestle India, and Bharti Airtel.

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16:26 (IST) 7 Jul 2022
Sensex rises for second-day straight, Nifty closes above 16100, index may head towards 16200 soon

For the second day straight bulls pushed domestic headline indices higher. S&P BSE Sensex zoomed 427 points or 0.80% to close at 54,178 while the NSE Nifty 50 index settled at 16,132, adding 143 points or 0.89%. Among stocks, Titan was the top gainer, ending 5.88% higher, followed by Tata Steel, L&T, and IndusInd Bank. Dr Reddy's was the top laggard, falling 1.3%, accompanied by Nestle India, and Bharti Airtel. On the weekly futures & options expiry session, Bank Nifty soared 1.74% higher while India VIX fell 5.28% to give up 20 levels. 

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15:32 (IST) 7 Jul 2022

Sensex zoomed 427 points or 0.80% to end at 54,178 while the NSE Nifty 50 index added 143 points or 0.89% at 16,132. Bank Nifty was up 1.74% on closing bell.

15:07 (IST) 7 Jul 2022
India VIX dives down

India VIX, the volatility gauge, was down 4.92% on Thursday. The index has slipped well below 20 levels.

14:38 (IST) 7 Jul 2022
Buy Titan shares ~ Motilal Oswal

Titan remains our top pick in the large-cap Consumption space in India. We expect an earnings CAGR of over 20% over the next couple of years. The stock has corrected by 27% from its 52 Week high and provides good entry opportunity. We maintain Buy rating with a TP of INR2,900.

~ Motilal Oswal Financial Services

14:16 (IST) 7 Jul 2022
Sensex, Nifty trim gains

Sensex and Nifty 50 were down from intraday highs with little over an hour left before the closing bell. Sensex gave up 54,000 although it was still in the green. Nifty was holding 16,000.

13:58 (IST) 7 Jul 2022
Mahindra & Mahindra, PC Jeweller among 72 BSE stocks to hit new 52-week highs; Parsvnath Developers at new low

BSE Sensex and NSE Nifty 50 were trading more than half a per cent up, each, on Thursday, on the day of weekly F&O expiry of contracts. BSE Sensex hit day’s high of 54,249.74, while NSE Nifty rose to a day’s high of 16,139.50 so far in the day. On the S&P BSE Sensex, Mahindra & Mahindra (M&M) stock hit a fresh 52-week high of Rs 1,138.80 apiece, surpassing the previous high of Rs 1,121 apiece. Read full story

13:54 (IST) 7 Jul 2022
India’s bullish macro-economic outlook — a silver lining

“The announcement by Reserve Bank of India on Liberalisation of Forex Flows is a welcome decision and is viewed as a win-win scenario for both Banks and NRIs. We look at this as a proactive move keeping in perspective the background of global financial and geopolitical instability combined with recent increase in Fed Rates and a weakening rupee. The silver lining amidst rising interest rate scenario and currency depreciation has been India’s bullish macro-economic outlook and this has allowed Indian currency to perform relatively better than many emerging and developed markets,” said Shyam Mani, Head-SME and NRI Banking, CSB Bank Limited.

13:23 (IST) 7 Jul 2022
LPG prices to cool off only after drop in oil prices

“The current Russia-Ukraine geo-political crisis has pushed up oil prices. As a result, LPG prices have also risen in India. Rupee depreciation has added to it. We import ~60% of our LPG consumption. As soon as oil prices decline, we would expect LPG prices also to cool off.” said Swarnendu Bhushan, Senior Group VP, Oil & Gas analyst at Motilal Oswal Financial Services.

13:20 (IST) 7 Jul 2022
SAT quashes Sebi penalty for disclosure lapses in ArcelorMittal Nippon Steel case

The Securities Appellate Tribunal (SAT) has set aside a Sebi order that had imposed a penalty of Rs 2 lakh on Essar Steel India Ltd, now known as ArcelorMittal Nippon Steel India Ltd, for disclosure lapses. Bankruptcy proceedings were initiated against debt-laden Essar Steel in August 2017. After the completion of the corporate insolvency resolution process Essar Steel was taken over by the new management ArcelorMittal Nippon Steel India in December 2019.

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13:08 (IST) 7 Jul 2022
Use current levels in M&M to book profits

After almost 3-4 years of underperformance, auto sector stocks including M & M are rallying well since the past few weeks due to lower raw material costs as metal prices keep falling & stable petroleum prices now in India. Current levels should be used by investors to book profits in their buy positions. 980-990 levels should be used to re-enter fresh buy positions in the coming weeks. Pavitraa Shetty, Co-founder & Trainer, Tips2Trades

12:55 (IST) 7 Jul 2022
Expect LPG prices to cool off when oil prices fall

The current Russia-Ukraine geo-political crisis has pushed up oil prices. As a result, LPG prices have also risen in India. Rupee depreciation has added to it. We import ~60% of our LPG consumption. As soon as oil prices decline, we would expect LPG prices also to cool off. Swarnendu Bhushan, Senior Group VP, Oil & Gas analyst at Motilal Oswal Financial Services

12:31 (IST) 7 Jul 2022
HUL stock looks overbought on the charts

A significant drop in crude oil prices with the expectation of a reduced inflation in the coming months have led to a relief rally in majority FMCG companies including HUL. Technically, HUL is very overbought on the charts & buyers can keep booking profits at current levels. A dip near 2300 can be used to re-enter fresh longs. AR Ramachandran, Co-founder & Trainer, Tips2Trades

12:10 (IST) 7 Jul 2022
Zomato, Info Edge, other internet firms may report robust revenue growth; valuation fair, check target price

Zomato, Info Edge, and IndiaMART Intermesh shares have not had a pleasant 2022 so far. Indian internet companies plummeted severely along with global peers at the beginning of the year and then the fall was exacerbated by other headwinds that took global markets down. However, analysts at Edelweiss believe internet companies will report robust revenue growth on the back of strong cash collections. “For Q1FY23, we estimate on-quarter revenue growth of 8.5%, 12.2%, 5.7% and 6.1% for Zomato, IndiaMART InterMESH, Info Edge, and Just Dial, respectively,” Edelweiss said. 

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11:54 (IST) 7 Jul 2022
Buy Maruti Suzuki: Stock price may jump 7% in 3 months, breakout from 4-month consolidation signals up move

Maruti Suzuki share price gained nearly one per cent to Rs 8,699.8 apiece from day’s low on Thursday. The stock hit a 52-week high of Rs 9,022 in February. Analysts at ICICI Direct Research expect a 7 per cent rally in the stock price in the coming three months as it remained resilient amid recent market corrections. The brokerage firm said that the stock has witnessed breakout from four months consolidation which signals resumption of up move and fresh entry opportunity. Read full story

11:47 (IST) 7 Jul 2022
Sensex laggards

Bajaj Finserv stock was down 1.26% as the worst Sensex performer on Thursday, followed by Bajaj Finance, Reliance Industries, Dr Reddy's, Ultratech Cement, and Axis Bank.

11:16 (IST) 7 Jul 2022
FOMC highly focused on culling inflation

“US markets got little solace but more clarity from the FOMC Minutes overnight. It was clear from the minutes that the committee members remained highly focused on culling inflation, even if it was at the expense of a sharp economic slowdown. For July’s meeting, a 0.50% to 0.75% Fed Funds rate hike was most likely. The minutes touched on the need for credibility and as such, I believe there will be no wimp-out by the FOMC at the end of this month, as that would achieve exactly the opposite plus interest,” said Jeffrey Halley, Senior Market Analyst, Asia Pacific, OANDA.

10:22 (IST) 7 Jul 2022
City Union Bank plans to raise Rs 500 crore via QIP

Private sector lender City Union Bank on Wednesday said that it plans to raise Rs 500 crore via a qualified institutional placement (QIP). The bank will seek the approval of its shareholders for the proposed QIP issue in its annual general meeting on August 18.

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10:00 (IST) 7 Jul 2022
FIIs unlikely to sell more?

“The sharp correction in crude, commodities like metals, and the declining trend in edible oil indicate that inflation will come under control soon. Taking cues from these indicators the bulls have again turned buyers and the near-term structure of the market has turned clearly bullish now. The crash in commodities and RBI's latest initiatives to increase foreign currency inflows have the potential to arrest further depreciation in rupee. This means FIIs are unlikely to sell more. This is positive for markets. Leading indicators like demand for housing, autos particularly passenger and commercial vehicles, certain discretionary items like jewellery etc. reflect robust economic recovery in India,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

09:51 (IST) 7 Jul 2022
Rakesh Jhunjhunwala portfolio stock up 6%: Titan share price gains on strong Q1 update, analysts’ views mixed

Rakesh Jhunjhunwala-owned Titan Company’s stock price zoomed 6.8% on Thursday’s opening bell to hit a high of Rs 2,170.95 per share. The stock soared higher as investors reacted to the quarterly update posted by the company, where it said that the April-June quarter of the current financial year was a near-normal first quarter after a gap of two years. “Sales in April-June grew 205% on-year on a low base and clocked a 3-year CAGR of 20.5% over Q1FY20, the only non-disrupted first quarter in the last 3 years,” Titan said in an update. 

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09:49 (IST) 7 Jul 2022
Gold Price Today, 7 July 2022: Comex gold at over 8-yr low as USD hits 20-yr high; MCX gold support at 50200

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading firm on Thursday, even as yellow metal in the international market fell. On the Multi Commodity Exchange, gold August futures were ruling Rs 124 or 0.25 per cent up at Rs 50,624 per 10 grams. Silver September futures were trading Rs 334 or 0.6 per cent up at Rs 57,060 per kg. Globally, yellow metal extended its selloff to an over nine-month low on Wednesday hurt by a stronger dollar, while the Federal Reserve’s June meeting minutes established a more “restrictive” monetary policy, according to Reuters. Read full story

09:32 (IST) 7 Jul 2022
Down from highs

Sensex and Nifty continue to trade with gains but were down from opening highs. Sensex was still above 54000 while Nifty held above 16000.

09:21 (IST) 7 Jul 2022
Titan zooms

Titan stock price zoomed more than 6.5% on opening to hit intraday high of Rs 2,170 per share. The company indicated strong quarterly growth in an update.

09:16 (IST) 7 Jul 2022

Sensex rose more than 450 points or 0.85% on opening bell to regain 54,200 while the Nifty 50 index breached 16,100.

09:12 (IST) 7 Jul 2022
Edible oil industry stocks in the spotlight

“The Federal Reserve was committed to lowering inflation, according to the minutes from its most recent monetary policy meeting, which helped the US markets conclude the day higher on Wednesday. According to the minutes, the central bank's members predicted a further rise of 50 or 75 basis points at the July meeting. There may be some caution as the head of the International Monetary Fund (IMF) stated that the outlook for the world economy had dramatically worsened since April and that, given the increased risks, she could not rule out the possibility of a worldwide recession next year. A private report claims that the edible oil sector has informed the government that retail prices will be further reduced by at least Rs 10-15 per litre in the coming weeks. This will put edible oil industry stocks in the spotlight,” said Mohit Nigam, Head – PMS, Hem Securities.

09:01 (IST) 7 Jul 2022

Sensex rose as the pre-open session began while Nifty 50 index was down with marginal losses.

08:59 (IST) 7 Jul 2022
Nifty support at 15800 today, be cautious in Bank Nifty; use Call Ladder in Nifty for gains on next F&O expiry

Nifty Put options OI distribution shows that 15,800 has highest OI concentration followed by 15,900 and 15,700 which may act as support for current expiry and on the Call front 16,200 followed by 16,300 & 16,100 witnessed significant OI concentration and may act as resistance for current expiry. Options data suggest an immediate trading range between 15,800 and 16,200 levels with 16000 acting as pivotal levels. Read full story

08:44 (IST) 7 Jul 2022
Move above 16026 could result in more upside

“Nifty rose on July 06 despite not so encouraging Asian cues and retested 16000 levels. At close, Nifty was up 1.13% or 178.9 points at 15989.8. In the process, Indian markets were the best performer in the Asian region. Nifty rose well on July 06. A move above 16026 could result in more upsides while 15785 could be near-term supports,” said Deepak Jasani, Head of Retail Research, HDFC securities.

08:42 (IST) 7 Jul 2022
Petrol and diesel price July 7: Fuel rates unchanged; Check prices in Delhi, Mumbai, other cities here

The prices of petrol and diesel on Thursday, July 7 were left untouched as OMCs continue to sell fuel at unchanged prices for more than 45 days now. Prices have remained steady after 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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08:31 (IST) 7 Jul 2022
Traders advised to trade with a positive bias

“In options segment, the call writer ran to cover their positions as the index rallied while open interest addition was seen in 16900 and 16800 put options which indicates that near-term support for Nifty is now at 16800. Looking at the above data, it seems that index index could try to complete its 61.6 percent retracement of the previous down move which is placed around 16178. Hence, traders are advised to trade with a positive bias and look for stock specific buying opportunities in the broader markets,” said Ruchit Jain, Lead Research,

08:23 (IST) 7 Jul 2022
Titan, Reliance, HDFC Bank, Bharti Airtel, Vodafone Idea, SpiceJet, PNB, stocks in focus on F&O expiry

Reliance Industries Ltd: Reliance Retail, a subsidiary of Reliance Retail Ventures (RRVL) on Wednesday said that it will bring to India the products of American fashion brand Gap, through a long-term franchise agreement.

Titan Company: The Tata group firm, Titan Company, said its sales in the April-June quarter were up nearly three-fold on-year, helped by a low base of the Covid-19 impacted quarter. Read full story

08:21 (IST) 7 Jul 2022
Buy Paytm and Whirlpool shares for near-term gains as Nifty enters up-trend, index may head to 16557

On the Nifty Daily chart, we can observe that after recently touching a low of 15183, the Nifty has bounced back smartly and even taken out the previous swing high of 15863. The Nifty then corrected marginally, before again breaking out of the recent highs and convincingly closing above the 20-day SMA. This is a positive signal for the near term. The Nifty could now be headed towards the 50-day SMA at 16140 in the near term. A close above 16140 could take the Nifty even higher towards the 200-day EMA currently at 16557.

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08:04 (IST) 7 Jul 2022
Nifty needs to hold 16000

Indian market has been gaining strength in the last couple of days on the back of positive FII flows, sharp fall in global commodity prices including crude and strong services PMI data. Sharp cool off in the oil prices has improved sentiments for oil sensitive sectors like FMCG, Cement, paint and Auto. Real estate stocks were also in focus on back of strong demand in key markets like Mumbai. Nifty now needs to sustain above 16000 mark to keep the positive momentum going ahead. The upcoming results season would provide further direction to the market going ahead.

~ Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services

07:59 (IST) 7 Jul 2022
SGX Nifty in green

SGX Nifty was in the green on Thursday morning, suggesting a gap-up start for Sensex and Nifty 50.

07:59 (IST) 7 Jul 2022
RBI bid to shore up foreign exchange inflows; measures aimed at cushioning falling Rupee

The Reserve Bank of India (RBI) on Wednesday announced a string of measures to boost foreign exchange inflows, including allowing overseas investors to buy short-term corporate debt and opening of more government securities under the fully accessible route.

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