Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices ended on positive note for the second consecutive day with Nifty settling above 16250. The BSE Sensex closed 760.37 points or 1.41% higher at 54,521.15, and the NSE Nifty 50 index rose 229.30 points or 1.43% to shut shop at 16,278.50. All the sectoral indices ended in the green with Information Technology, PSU Bank, Metal, Power, Oil & Gas, Bank, Realty and Capital Goods indices up 1-3 per cent. In the broader markets, BSE Midcap and Smallcap indices rose over 1 per cent each. Hindalco Industries, IndusInd Bank, Infosys, Bajaj Finserv and Tech Mahindra were among the top Nifty gainers, while losers included Britannia Industries, Dr Reddy’s Laboratories, HDFC Bank, M&M and Maruti Suzuki.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 18 July Monday
"Indian markets opened on positive note following positive overall Asian markets. During the afternoon session markets further strengthened as buying in IT, TECK and Capital Goods stocks were seen. Gains in frontline blue chip stocks such as Infosys, Tech Mahindra also helped to lift the markets. Sentiments were upbeat as a private report suggests that the income of farmers has grown in the range of 1.3-1.7 times in FY22 from the FY18 levels on average while grain exports soared to over USD 50 billion. For certain crops in some states (like soyabean in Maharashtra and cotton in Karnataka) farmers? income more than doubled in FY22 from FY18 levels. "
~ Narendra Solanki, Head Fundamental Research -Anand Rathi-Investment Services
Hindustan Unilever (HUL) will report its quarterly earnings tomorrow, where analysts expect the FMCG major to report an on-year growth in revenue and net profits, however, margins are projected to remain under pressure. The growth in revenue will be backed by a price hike undertaken by the company and growth in volume, which will in turn aid the net profit. However, with raw material prices continuing to remain elevated, margins are likely to take a hit. HUL is an FMCG major selling foods, beverages, cleaning agents, personal care products, water purifiers, and other fast-moving consumer goods. The share price of HUL is up 8.7% so far this year, outperforming the benchmarks Sensex and Nifty. On Monday the stock was trading flat at Rs 2,567 per share.
US crude oil inventories rose by 3.254 million barrels in the week ended 8th July, after an 8.235 million increase in the previous period, while gasoline stocks rose by 5.825 million barrels, and distillate stockpiles increased by 2.668 million barrels. Along with that, US weekly production fell to 12 mbpd from 12.1 mbpd in the previous week, which also underpinned prices at lower levels. Read full story
Sensex rises for 2nd day; closes at day's high with a 760 pts gain
Nifty surges 229 pts to near 16,300 at close
Sensex was up 780- points or 1.45% ahead of the closing bell on Monday while NSE Nifty 50 index was up 235 points or 1.46%. Nifty 50 was inching closer to the 16,300 mark.
Edible oil firm Adani Wilmar, which sells its products under Fortune brand, on Monday announced reduction in cooking oil prices by up to Rs 30 per litre amid fall in global prices. The maximum reduction has been done in soyabean oil. The stocks with new prices will reach market soon.
India VIX, the volatility index, was down 2.5% ahead of the closing bell on Monday. The index was hovering around 17.17%.
Net profit went down 24.8% at Rs 51.6 crore against Rs 68.6 crore (YoY). Revenue was up 6.1% at Rs 590 crore against Rs 556 crore (YoY). EBITDA slipped 27.5% at Rs 95 crore against Rs 131 crore (YoY). Margin at 16.1% against 23.6% (YoY). Sales volume went down 6.1% (YoY). The stock was trading at Rs 175.25, down Rs 1.80, or 1.02 percent on BSE. It has touched an intraday high of Rs 179.30 and an intraday low of Rs 172.90.
Vardhman Textiles (VTL) surged 19 per cent to Rs 318.05 on the BSE on the back of over 10-fold jump in trading volumes. A combined 4 million equity shares have changed hands on the counter till the time of writing of this report, as compared to an average sub 40,000 shares that traded in the past two weeks on the NSE and BSE.
NSE Nifty 50 may make a new all-time high of 19,066 points by June 2023, as global headwinds subside and commodities prices turn benign, brokerage firm Prabhudas Lilladher said, raising their base case target. The worst might be over for equities markets as global headwinds subside and prices of Crude, Metals, Palm Oil, and Agri commodities fall. “We believe softening prices of crude, bountiful monsoons, sharp increase in rural incomes from firm crop prices and improving labour employment will be key demand drivers in coming quarters,” Prabhudas Lillladher said in a report. The firm’s analysts earlier had a target of 18,622 points for the 50-stock index in their base case.
We remain positive on the company due to its robust and sustainable business model backed by stable growth, debt-free b/s, favourable market dynamics with doctor prescription stickiness and lower perceived risk factors. We continue to believe in Abbott’s strong growth track in power brands and capability of new launches on a fairly consistent basis. ICICI Direct Research
Sensex is up 598.51 points or 1.11% at 54359.29, and the Nifty jumped 184.70 points or 1.15% at 16233.90.
The Reserve Bank of India (RBI) has recommended to the government that it should frame regulations for cryptocurrencies and prohibit them. The government, however, seems to be of the view that a "global collaboration" is needed for any effective regulation or ban, Finance Minister Nirmala Sitharaman said in Parliament. "In view of the concerns expressed by the RBI on the destabilising effect of cryptocurrencies on the monetary and fiscal stability of a country, the RBI has recommended for framing of legislation on this sector. The RBI is of the view that cryptocurrencies should be prohibited," FM said in a written response to a question in the Lok Sabha.
Bank of Maharashtra has reported Q1 FY23 net profit at Rs 451.9 crore against Rs 208 crore and net interest income (NII) was up 19.9% at Rs 1,686 crore versus Rs 1,406 crore, YoY. Gross NPA was at 3.74% versus 3.94% and net NPA at 0.88% versus 0.97%, QoQ.
Morgan Stanley has lowered its GDP growth estimates for India. It now expect the Indian economy - as measured by GDP - to grow at 7.2 per cent in fiscal 2022-23 (FY23), 40 basis points (bps) lower than their earlier estimates. For FY24, the revised projection stands at 6.4 per cent - down 30 bps. "We see downside risks emanating from a weaker than expected global growth trend, supply-side-driven commodity price shock and faster than warranted tightening of financial conditions," wrote Upasana Chachra, chief India economist at Morgan Stanley in a coauthored note with Bani Gambhir.
The domestic markets held their strong opening gains on Monday as global sentiment turned positive on receding fears of aggressive rate hikes by the US Fed. The BSE Sensex was up 502.77 points or 0.94% at 54,263.55, and the NSE Nifty 50 was up 155.50 points or 0.97% at 16,204.70. Nifty started last week on a flat note and traded with extreme volatility on either side throughout the week. However Friday’s buying momentum recovered some of the earlier losses to close in negative terrain. According to analysts at Axis Securities, Nifty may trade in the range of 16,500-15,800 with a positive bias this week. “On the weekly chart the index has formed a “Doji” candlestick formation indicating indecisiveness amongst market participants regarding the direction,” they said.
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Rakesh Jhunjhunwala’s portfolio stock Federal bank share price surged nearly 4 per cent to Rs 102.7 apiece on BSE on Monday. The jump comes after the lender posted a 63.5 per cent rise in standalone net profit at Rs 600.6 crore in April- June quarter of FY23, as compared to Rs 367 crore in the same quarter last year. At least three research and brokerage firms are bullish on the stock and see up to 32 per cent upside potential in the stock price.
Benchmark indices were trading at day's high level with Nifty above 16200.
The Sensex was up 585.33 points or 1.09% at 54346.11, and the Nifty was up 176.70 points or 1.10% at 16225.90.
Zydus Lifescience and Laurus Labs has slipped over 3 per cent each and were the major losers among the BSE 500 stocks so far. They were followed by EPL, FDC and CEAT.
Tanla Platforms has zoomed 7.7 per cent and was the top gainer among the BSE 500 stocks so far on Monday. Affle India, Rallis India, Voltas and Vardhman Textile were few of the other major gainers.
Share price of PB Fintech, which owns and operates insurance aggregator Policybazaar, hit all-time low in a strong market
Nifty PSU Bank index added 1 per cent supported by the Bank of Baroda, Canara Bank, Bank of India
Bharat Electronics (BEL) share price soared more than 6 per cent to a fresh 52-week high of Rs 260.75 apiece on Monday, on a 15-fold rise in Q1 profit. Bharat Electronics net profit in first quarter of current fiscal rose 1401.64% to Rs 365.65 crore as against Rs 24.35 crore during the previous quarter ended June 2021. On Monday, BEL stock witnessed a sudden surge in its volumes, supporting the price move. In volume terms, a total of 20 lakh shares exchanged hands on BSE, while 2.96 crore scrips were traded on NSE, so far in the day. Read full story
Benchmark indices extended the gains and were trading near the day's high with Nifty around 16200. The Sensex was up 502.77 points or 0.94% at 54263.55, and the Nifty was up 155.50 points or 0.97% at 16204.70.
Quick Heal Technologies share price zoomed 20 per cent to Rs 199.80 on the BSE in intra-day trade on the back of heavy volumes after the company said its board will consider buyback proposal in forthcoming meeting held on July 21, 2022. The board will also consider and approve the un-audited financial results of the company for the quarter ended June 30, 2022 (Q1FY23). Quick Heal shares were trading 18 per cent higher at Rs 196.45, as compared to 0.8 per cent rise in the S&P BSE Sensex.
Adani Enterprises, Aether Industries, Apar Industries, Bharat Electronics, Blue Dart Express, Eicher Motors, Gensol Engineering, GRP Ltd, Insecticides (India), Lumax Auto Technologies, Vedant Fashions, Orient Bell, Rajratan Global Wire, Safari Industries, Schaeffler India, Shanti Educational Initiatives, Vadilal Industries were among the stocks that hit 52-week high on BSE. Meanwhile, Indostar Capital Finance, PB Fintech, A & M Febcon, Aryavan Enterprise, Bombay Rayon Fashions, Citiport Financial Services, Essar Shipping, Meyer Apparel, Suumaya Corporation, Vikas Proppant & Granite were among the stocks that fresh lows.
Benchmark indices extended gains in late morning deals. Sensex is up 533.26 points or 0.99% at 54294.04, and the Nifty jumped 163.70 points or 1.02% at 16212.90.
All the sectoral indices are trading in the green with IT, metal, power and capital goods indices up 1-2 percent each.
HDFC Bank and HDFC were the worst-performing Sensex stocks on Monday morning, down 1.28% and 0.98% respectively. M&M, Dr Reddy's, HUL, and Reliance Industries were the other drags.
"Going ahead, we reiterate our positive stance on markets and expect Nifty to gradually head towards 16600 in coming weeks. Meanwhile, bouts of volatility owing to volatile global cues cannot be ruled out. However, dips from here on should be capitalised on as buying opportunity as we believe strong support is placed at 15500."
~ICICI Direct