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.”
Shares of Bharat Electronics (BEL) jumped 5 per cent to Rs 258.20 on the BSE in Monday’s intra-day trade after the company reported profit after tax (PAT) of Rs 431.49 crore in the June quarter (Q1FY23), due to higher revenue and on the back of lower base. The state-owned aerospace & defense company had posted PAT of Rs 11.15 crore in Q1FY22. As of July 1, 2022, the company’s order book position stood at Rs 55,333 crore. The stock traded close to its 52-week high of Rs 259.50 touched on April 19, 2022. At 09:30 am, the stock quoted nearly 5 per cent higher as compared to 0.7 per cent rise in the S&P BSE Sensex.
HDFC Bank share price slipped in early trade on Monday after the private lender reported strong first quarter earnings last week. HDFC Bank on July 16 reported reported a 20.9% on-year jump in consolidated net profit to Rs 9,579 crore for the quarter ended 30 June 2022. Meanwhile, Net interest income (NII) stood at Rs 19,481.40 crore, up 14.5 per cent on-year. HDFC Bank shares were quoting at Rs 1,357.95, down Rs 5.90 or 0.43 percent on the BSE intraday. So far this year, the stock has plunged over 11 per cent, underperforming even benchmark Nifty 50. However, analysts remain bullish on the stock and see up to 32% potential rally going forward.
Shares of Oberoi Realty rose over 1.6 per cent after the Mumbai-based real estate developer has reported a consolidated net profit of Rs 403.08 crore in Q1 FY23 as against a net profit of Rs 80.63 crore in Q1 FY22.
BEL share price soared over 4 per cent. The company posted a net profit of Rs 431.49 crores in Q1 FY23 as against a profit of Rs.11.15 crores last year.
Profit-booking in HDFC Bank after net profit rises 19% YoY in Q1. HDFC Bank shares fell to Rs 1,354, down 0.7% on BSE.
“IT is weak on fears of a possible US recession impacting tech spending by companies. Leading bank stocks are weak due to sustained FII selling, in spite of their improving fundamentals. FMCG and autos are benefiting from the recent commodity price crash. Capital goods also are doing well on improving capex prospects. Investors can consider slightly restructuring their portfolios in the light of the leadership changes in the market.”
~V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
“High volatility in the market is likely to continue in the near-term with erratic action from FIIs (FIIs bought on 3 days this month and sold on other days) and sustained buying on dips by retail and DIIs. A significant market trend is the change in leadership from IT and banking to consumption driven FMCG and autos. The 6-month Nifty IT index return is – 31.79% and the Nifty Bank Index is down 9.61% during this period. In sharp contrast to this, Nifty FMCG Index is up 9.74% and Nifty Auto Index is up by 6.17% during this period.”
~V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Infosys, Hindalco Industries, L&T, Tech Mahindra and Bajaj Finserv were among major gainers on the Nifty, while HDFC, HDFC Bank, M&M and Britannia Industries were the top losers.
Infosys, Tech M, L&T, Dr Reddy's, Sun Pharma IndusInd Bank, HUL, Tata Steel and ICICI Bank led gains on the Sensex, rising 1-2 per cent. While HDFC twins, and M&M were the losers with tepid cuts.
Sensex jumps over 450 points
Nifty 50 opens above 16,150 levels
Commodity prices traded lower with most of the commodities in the non-agro segment extending decline for another week on weaker demand and a stronger dollar. Bullion prices traded down on market expectations over aggressive FED in July meeting following records inflation data. Base metals traded weak on disappointing data from China and lower demand. Crude oil prices traded down on slowdown fears and higher US inventories.
Benchmark indices are trading flat in the pre-opening session. The Sensex was down 0.20 points or 0.00% at 53760.58, and the Nifty was down 6.90 points or 0.04% at 16042.30.
“The Indian rupee could open flat to positive following regional currencies and equities. As the quantum of foreign fund selling has subsided, crude stabilised and Fed rate topping out next year, short term pullback in rupee could be possible in coming days. Spot USDINR has psychological resistance at 80 and support at 78.80 and 78.50.”
~Dilip Parmar, Research Analyst, HDFC Securities
Petrol and diesel prices held steady on July 18, the latest price notification issued by fuel retailers showed. Fuel prices have stayed unchanged for more than a month except for Maharashtra where chief minister (CM) Eknath Shinde on Friday announced a cut in value added tax (VAT) of Rs 5 per litre for petrol and of Rs 3 per litre for diesel. For the rest of the country, the prices have held steady for nearly two months. The last reduction in prices came 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.
Markets took a breather last week but, the overall structure looks positive. In the coming sessions, earnings will drive the markets. Equity benchmark Indices clocked their first weekly loss in four weeks as investors fretted over likely aggressive tightening by central banks in the wake of recent inflation numbers. Benchmarks Sensex dropped 721 points or 1.32 per cent to close at 53761 and Nifty shed 176 points or 1.08 per cent to close at 16049. Asia, stocks hit a two-year low and were heading for a weekly loss, while the dollar was set for its third week of gains to above 108 as a fresh slew of rate hikes around the world deepened concerns about the outlook for global economic growth.
“Early buoyancy in Asian indices, including SGX Nifty, indicates domestic benchmarks are set to make a firm beginning after Wall Street on Friday rose sharply amid the lingering woes of global economic slowdown. Investors are betting that the Fed may probably go for a 75 basis point hike in policy rates in its July 27 meeting against the 100 bps rate hike feared earlier. Also, solid earnings by HDFC Bank during the weekend and oil prices falling to $97 a barrel should augur well for the markets. On technical front, the immediate upside targets for Nifty are at 16321 mark and then at 16500 mark. The index would go south only if it drops below its biggest support at 15851.”
~Prashanth Tapse, Vice President (Research), Mehta Equities Ltd
“Benchmark indices are expected to open on a positive note as suggested by early trends on SGX Nifty with a 167-point gain. Some stock specific actions can be seen in HDFC Bank (reported a standalone profit growth of 19% on a yearly basis at 9,196 crore for Q1FY23 led by fall in provisions for bad loans. Net interest income rose 14 percent YoY to Rs 19,481.4 crore, driven by loan growth of 22.5 percent and deposits increased to 19.2%.), Bharat Electronics (The defence company recorded a consolidated profit of Rs 366.33 crore for Q1FY23 driven by strong operating income), and aviation industry stocks (OMCs reduced ATF prices). On the technical front, key support and resistance for Nifty 50 are 15,900 and 16,150 respectively while key support and resistance for Bank Nifty are 34,450 and 35,100 respectively.”
~Mohit Nigam, Head – PMS, Hem Securities
Mumbai-based Sula Vineyards, the country’s largest wine producer and seller, has filed its Draft Red Herring Prospectus (DRHP) with the markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO). The issue with a face value of Rs 2 per equity share is a complete offer for sale (OFS) aggregating to 25,546,186 equity shares. The offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the offer shall be available for allocation to Retail Individual Bidders.
Bank Of Maharashtra, Alok Industries, Metropolis Healthcare, Heidelberg Cement, Ganesh Housing Corporation, Nelco, Onward Technologies and Elixir Capital are among companies that will announce their quarterly earnings today.
The dollar began the week nudging down from multi-year highs, with a hotter-than-forecast inflation reading in New Zealand lending modest support to the kiwi, though fears about Europe's gas supply put a cap on dollar selling. The greenback has soared this year thanks to a combination of rising U.S. interest rates and wobbling economies in Europe and China. It pushed above parity on the euro for the first time in almost 20 years last week, before easing back. The euro last bought $1.0094 and the yen, which has tumbled about 17% this year, steadied at 138.29 per dollar. The New Zealand dollar and the Aussie inched higher after inflation surged to a three-decade high in New Zealand.