Share Market HIGHLIGHTS: Nifty clinches 15700, may head to 15,800 now; Sensex ends 641 pts up from day’s low

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Updated: July 28, 2021 4:21:28 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: BSE Sensex and Nifty 50 ended in red for 3rd straight day, even after trimming most of the day's losses on Wednesday

Share Market Today, Share Market LiveNifty Pharma gained nearly one per cent, after trading with losses in early trade on Wednesday

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended in red for the third consecutive day, despite rebounding from intraday lows on Wednesday. BSE Sensex ended 135 points or 0.3 per cent down at 52,444, while the Nifty 50 index settled above 15,700 level, but in negative territory. Kotak Mahindra Bank, Dr Reddy’s Laboratories, Mahindra & Mahindra (M&M), HDFC Bank, NTPC, RIL were among top Sensex laggards. On the flip side, Bharti Airtel surged over 5 per cent, followed by Tata Steel, IndusInd Bank, Bajaj Finserv, ICICI Bank, Infosys among others. Except for Nifty IT and Nifty Metal, all the sectoral indices ended in the red. Bank Nifty fell 0.76 per cent to 34,532.90.

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    15:57 (IST)28 Jul 2021
    Maruti Suzuki Apr-Jun quarter results

    Maruti Suzuki revenue came in at Rs 17,771 crore, EBITDA at Rs 820 crore, and margin at 4.6 per cent for April-June 2021

    15:55 (IST)28 Jul 2021
    Maruti Suzuki posts Rs 440 cr profit in Apr-Jun 2021

    Maruti Suzuki made a net profit of Rs 440.8 cr in the April-June quarter of FY22 compared to a loss of Rs 249.4 cr in the corresponding quarter of previous year. The profit for the Apr-Jun quarter of FY22 was primarily impacted due to lower sale volumes. Commodity prices increased steeply but the company continued to make efforts to reduce costs. 

    15:39 (IST)28 Jul 2021
    Sensex rises 641 pts from day's low, Nifty settles above 15,700

    BSE Sensex ended 135 points or 0.3 per cent down at 52,444, while the Nifty 50 index settled above 15,700 level, but in red

    15:26 (IST)28 Jul 2021
    Govt’s stimulus package for economic revival ‘inadequate’: Par panel

    The stimulus package announced by the government for the revival of the pandemic-hit economy has been found to be “inadequate”, according to a Parliamentary panel report. The report of the department-related Parliamentary Standing Committee on Industry on the impact of COVID-19 pandemic on micro, small and medium enterprises (MSME) sector has noted that in the process of economic recovery post-first wave of the pandemic, the second wave has even more vigorously ripped the economy particularly the MSME sector.

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    15:18 (IST)28 Jul 2021
    Nirmala Sitharaman, Anurag Thakur to brief media at 4PM

    Union Ministers Anurag Thakur and Nirmala Sitharaman will address a press conference on cabinet decisions at 4 PM today. (PIB Twitter)

    15:08 (IST)28 Jul 2021
    Bharti Airtel dodges bears, gains 5% on tariff revision; stock may rise further, check target price

    Bharti Airtel share price rose more than 5% on Wednesday while overall market sentiment was negative and bears were wreaking havoc. The telecom giant’s stock was trading at Rs 567 per share. “Bharti Airtel is getting positive momentum in stock due to the increase in tariff rates for the postpaid subscriber,” Amarjeet S Maurya, A.V.P. Research, Angel Broking said. Earlier in the day, Airtel announced that it will be discontinuing its Rs 49 entry-level prepaid recharge plan. Bharti Airtel share price has jumped 7.75% in the last one week of trade. 

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    14:41 (IST)28 Jul 2021
    Should investors apply for Glenmark Life Sciences IPO amid crackdown in Pharma stocks?

    We have seen a correction in pharma stocks after the Q1FY2022 results and some company-specific issues like that of Dr.Reddy laboratories. Overall large-cap pharma cracked down by 5%-10% in the last 2 trading sessions and midcaps pharma companies holding on to slight gains. Glenmark Life Sciences has a product portfolio related to API’s and that too on the speciality side, company is a leading manufacturer of specialized APIs for chronic therapeutic areas like CVS, CNS. So we don’t expect any major impact on Glenmark Life Sciences IPO due to this melt down in the pharma sector. Glenmark Life has a better return ratio than its peers and IPO has been priced at PE 22.38x and EV/EBITDA of 12.9x which is better than listed peers of the company. We suggest short term investors as well as long term investors to apply for the Glenmark Life Science Limited IPO.As of now IPO is getting very good response from retail as well as NII investors categories, IPO oversubscribed by 4 times as of now. Yash Gupta Equity Research Associate, Angel Broking 

    14:40 (IST)28 Jul 2021
    Rakesh Jhunjhunwala heads for the sky; plans ultra-low-cost airline with 70 aircrafts

    Billionaire investor Rakesh Jhunjhunwala is planning on having 70 aircraft within four years for a new airline he wants to set up in India on optimism more people will travel by air. Jhunjhunwala, who is considering investing $35 million and would own 40% of the carrier, expects to get a no-objection certificate from India’s aviation ministry in the next 15 days, he said in a Bloomberg Television interview Wednesday. The ultra-low-cost airline will be called Akasa Air and the team, which includes a former senior executive of Delta Air Lines Inc., is looking at planes that can carry 180 passengers, he said.

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    14:39 (IST)28 Jul 2021
    What's fueling Bharti Airtel stock?

    Today Bharti Airtel Ltd (BAL) stock is up ~5%. BAL is getting positive momentum in stock due to the company increasing tariffs rate for the postpaid subscriber. The company is increasing tariffs rate for the enterprise segment ( which account for around 60% of  the company’s postpaid users) which would boost overall average ARPU for BAL. Going forward, we expect BAL to report healthy top-line & Bottom-line growth on the back of a strong brand, growth in customer additions, and improvement in ARPU. Hence, we are positive on stock. Amarjeet Maurya - AVP - Mid Caps, Angel Broking

    14:30 (IST)28 Jul 2021
    HDFC Bank, RIL, Axis Bank top Sensex drags

    Index heavyweights such as HDFC Bank, Reliance Industries Ltd (RIL), Kotak Mahindra Bank, Axis Bank were contributing the most to indices' loss

    14:28 (IST)28 Jul 2021
    Brokerage view on TTK Prestige

    TTK Prestige has taken a price hike (5-6%) in July, and we expect normal demand. We believe EBITDA margin will revert to its strong level during FY22. TTK’s market leadership (in five of its six product offerings) and a broad range of products give visibility on quicker recovery in the business with stable demand. We maintain our estimates and value it at 40x P/E on Jun-23E EPS to derive a TP of INR 9,165. Maintain ADD. HDFC Securities

    14:17 (IST)28 Jul 2021
    Vedanta Zinc International launches new iron ore product line in South Africa

    India’s mining giant Vedanta Limited in South Africa has launched a new iron ore product line this year at its Black Mountain Mine (BMM) operations in the mineral-rich Northern Cape province to make it competitive, globally cost-efficient and sustainable.

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    13:51 (IST)28 Jul 2021
    India VIX down 4%

    India VIX was down 4% on Wednesday while benchmark indices recouped some intra-day losses.

    13:26 (IST)28 Jul 2021
    KFC, Pizza Hut operator Devyani International IPO opens Aug 4; will join Burger King post listing

    Devyani International, the largest operator of marquee quick service restaurants (QSR) such as KFC and Pizza Hut will enter Dalal Street next week to launch its initial public offering (IPO). The company has filed its Red Herring Prospectus (RHP) with the capital markets regulator for its public issue that opens on Wednesday, 4 August 2021 and will remain open for subscription by investors till Friday, 6 August 2021. The public issue comprises fresh issue of shares worth Rs 440 crore and offer-for-sale (OFS) of issuing up to 15.53 crore equity shares by existing shareholders and promoters.

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    12:42 (IST)28 Jul 2021
    Rolex Rings IPO fully subscribed on Day 1, grey market premium at 50%; should you subscribe?

    Rolex Rings’ Rs 731 crore initial public offering (IPO) opened for subscription today amid weak market sentiment but strong investor interest saw the issue get oversubscribed on the first day of sale. The automotive components manufacturer is looking to raise Rs 56 crore through a fresh issue of equity shares while the remaining Rs 675 crore is an offer for sale (OFS) by existing shareholders. Rolex Rings is one of the top five forging companies in India, according to ICICI Direct. The client base of Rolex Rings consists of leading global bearing manufacturers viz. SKF, Timken, Schaeffler, NEI & NRB Bearings. Ahead of the IPO the company has managed to raise Rs 219 crore from 26 anchor investors.

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    12:37 (IST)28 Jul 2021
    Weakness in Nifty 50 may continue, support now at 15,450

    We witnessed the continuation of the bearish movement in the market in the first half. The market broke an important support level of 15600. If the market sustains below the level of 15600, we can expect the market to continue the bearish movement till it finds the next support near 15450. On the sectoral front, all major sectors have been trading negative. Divislab and Hindunilvr are the top gainers while Dr.Reddy and Cipla are the top losers on Nifty. Gaurav Garg, Head of  Research, CapitalVia Global Research

    12:10 (IST)28 Jul 2021
    Keep a close watch on 15,450 in Nifty, 33,900 in Bank Nifty

    Nifty has slipped below the important support zone i.e. 15,600 today which also coincides with the support zone of short-term moving average (i.e. 50 EMA) on the daily chart today. Earlier, it was the underperformance of the banking index which was capping the index but now we’re seeing other sectors also witnessing profit-taking since yesterday. We advise maintaining caution at current levels and suggest keeping a close watch on 15,450 in Nifty and 33,900 in banking index as critical support as the breakdown of these levels would induce further decline towards 15,200 in Nifty while the banking index may test 33,300-32,600 zone. Ajit Mishra, VP-Research, Religare Broking 

    12:08 (IST)28 Jul 2021
    Nifty violates 50-DMA

    Since the opening of the session, NIFTY Options with July 29 expiry has seen lot of call writing going on. This has dragged the resistance points lower. The strikes of 15700 now holds maximum Call OI. A pullback from the current levels is likely, but if that happens, 15700 will pose great resistance today and tomorrow until the weekly options expiry. From another technical perspective, NIFTY has violated the 50-DMA, as of now intraday, which currently stands at 15652. It would be crucial to see if NIFTY takes support at this level on a closing basis or violates it. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services

    11:25 (IST)28 Jul 2021
    If Nifty closes below 15636, it may fall to15380 in coming sessions

    Weakness in Asian markets with a sell-off in large-cap stocks especially the pharma sector has triggered a downtrend today in Nifty thus far. Technically, if Nifty closes below 15636, we could be headed towards 15505 & 15380  in the coming sessions. AR Ramachandran, Co-founder & Trainer, Tips2Trades

    11:25 (IST)28 Jul 2021
    Next Nifty support at 15,450

    "A close below 15,632 today would mean more downside coming in Nifty. Best to take one move at a time as volatility is expected to be high. Maintain breasish stance below 15,632," said Rahul Sharma, Direct & Head - Research, JM Financial.

    11:24 (IST)28 Jul 2021
    If Nifty breaches 15600-15650 on closing today, it may fall further

    But if 15600-15650 gets violated, then markets are likely to extend the correction in the coming days. BANKNIFTY is too placed at make or break levels of 34200-33900. The most important space to watch out would be NIFTY MIDCAP 50. Because in last one month, the real action was seen in the broader market and is experiencing some profit booking now. So keep our fingers crossed and hope for some recovery in the latter half to keep the short term uptrend intact. Sameet Chavan Chief Analyst - Technical and Derivative Angel Broking

    11:23 (IST)28 Jul 2021
    Global sell-off weighs Sensex, Nifty

    The global sell off is clearly weighing down heavily on our market since the second half of Tuesday. We first breached the intermediate support of 15800 and now are challenging the crucial support zone of 15550. For us today’s close would be quite crucial and hence we would keep a close eye on 15600-15650 levels. If we manage to reclaim these levels on a closing basis, there is no reason to worry for. Sameet Chavan Chief Analyst - Technical and Derivative Angel Broking

    11:06 (IST)28 Jul 2021
    Nifty support shifts to 15,450; close below this level may take Nifty to 15,300

    Nifty is currently trading at 15545, below its key support level of 15580. Now the next level to watch and which will act as support is 15450, it is the previous month's low. Any breach of 15450 on a closing basis may take Nifty to 15300 levels. 15620-15700 range will act as strong resistance for Nifty. Readers are advised to maintain strict stop loss in the system to protect capital and book profits. Gaurav Udani, Founder & CEO, Thincredblu Securities

    11:01 (IST)28 Jul 2021
    If Nifty closes below 15,600 today, it may fall further to 15,400 in near term

    Nifty has broken its important support of 15600, if it sustains below 15600 on a closing basis then it may fall further towards 15500-15400 in the near term, however, if Nifty crosses and sustain above 15680 then some short-covering action can be seen which could give more pullback towards 15750-15800. Rajesh Palviya VP - Research (Head Technical and Derivatives) Axis Securities

    11:00 (IST)28 Jul 2021
    Nifty support in 15,550-15650 zone

    Nifty 50 is trading in a support zone of 15,550-15,650. For us, today’s closing level is more important than the intraday movement. Sameet Chavan Chief Analyst - Technical and Derivative Angel Broking

    10:54 (IST)28 Jul 2021
    India VIX soars 15.2%

    India VIX, volatility index, surged 15.20 per cent to 15.25 levels as BSE Sensex, Nifty 50 tanked

    10:52 (IST)28 Jul 2021
    Sensex falls over 650 pts, gives up 52,000 level

    Sensex has extended losses, trading over 650 points or 1.24 per cent down at 51,924. While Nifty 50 index gave up the 15,600 support level

    10:40 (IST)28 Jul 2021
    Nifty Pharma tanks 1.23%; Dr Reddy's, Cipla down 2.75%

    Nifty Pharma index tanks 1.23 per cent dragged by Dr Reddy's Laboratories, Cadila Healthcare, Cipla, Aurobindo Pharma, which were down up to 2.75 per cent

    10:14 (IST)28 Jul 2021
    Nifty short-term support at 15,600

    The index is nearing its short-term support of 15600. If it breaks this on a closing basis, the next pit stop would be 15400 which is a crucial medium-term support. If we break that as well, we might witness a pause to the current uptrend. Traders would then need to re-evaluate the bullish trend of this market. If either of the levels do not break, we will continue remaining range bound between 15400 and 15900. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    10:11 (IST)28 Jul 2021
    Gold Price Today, 28 July 2021: Gold gains ahead of US Fed outcome; buy on dips with stoploss at Rs 47,300

    Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were seen trading higher in India on Wednesday, even as global rates were flat. On Multi Commodity Exchange, gold August futures were up Rs 62 or 0.13 per cent at Rs 47,635 per 10 gram, while silver September futures jumped Rs 236 or 0.4 per cent to Rs 66,292 per kg. In the previous session, gold futures ended at Rs 47,573, and silver at Rs 66,056. Globally, yellow metal was flat on Wednesday, holding near the key psychological level of $1,800 per ounce, as investors await the US Federal Reserve’s meeting for hints on policy tapering plans.

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    09:43 (IST)28 Jul 2021
    Nifty 15600-15900 range becomes strong with sustained FII selling

    There is a mild risk-off in equity markets globally as reflected in the rising dollar (dollar index at 92.80 now). The sell-off in Chinese tech stocks on Beijing's regulatory crackdown has triggered concerns about whether this sell-off will spread to other segments. China is too big now. It can cause flutters in global markets. This space needs to be watched cautiously. The Nifty range 15600 - 15900 has become strong with sustained FII selling around 15900 and strong retail & DII buying around 15600. This range is likely to hold for some time.A significant trend in the market now is sectoral shifts. Yesterday there has been across a board selling in pharma stocks. Profits booked in this segment is moving into other sectors. The relative outperformance in front line financials indicate a sectoral shift. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services

    09:35 (IST)28 Jul 2021
    Rolex Rings IPO, Govt stake sale in HUDCO, monthly expiry may keep rupee in 74.30-74.70 range

    On the domestic front, International Monetary Fund has cut India's growth projection from 12.5 % to 9.5% for fiscal 2021-22, as the impact of the second wave has slowed recovery efforts. However, the only ray of hope to support the rupee is the FII inflows on account of the upcoming 9 IPO’s for Rs 20,000 crs. Hereon, the rupee shall take cues from further movement in the dollar index over developments in policy meeting. Till then, inflows on account of Rolex rings and Govt stake sale of 8% in HUDCO and month-end expiry shall keep rupee tucked between 74.30-74.70 levels for the day. Amit Pabari, managing director, CR Forex Advisors

    09:30 (IST)28 Jul 2021
    Nifty Pharma, Nifty Metal indices trade in green

    Barring Nifty Pharma and Nifty Metal, all the sectoral indices were ruling in the red, with Nifty Financial Services leading the charge

    09:29 (IST)28 Jul 2021
    Nifty Pharma index gains; up nearly 1%

    Nifty Pharma gained nearly one per cent, after trading with losses in early trade on Wednesday. The index was ruling at 14,030 levels

    09:27 (IST)28 Jul 2021
    IndusInd bank, HUL, Airtel cap Sensex losses

    Gains in IndusInd Bank, Hindustan Unilever Ltd (HUL), Tech Mahindra, Bharti Airtel, UltaTech Cement stocks capped losses in BSE Sensex

    09:25 (IST)28 Jul 2021
    HDFC, Nestle, TCS top Sensex laggards

    Nestle India, Housing Development Finance Corporation (HDFC), Axis Bank, L&T, Asian Paints, TCS, HDFC Bank, ICICI Bank were top Sensex losers

    09:23 (IST)28 Jul 2021
    Pharma stocks fall yet again; Cipla, Dr Reddy's top losers

    Following Tuesday's sell-off in pharma stocks, Nifty Pharma index fell over half per cent yet again on Wednesday, dragged by losses in Torrent Pharma, Cipla, Dr Reddy's Lab

    09:22 (IST)28 Jul 2021
    Nifty gives up 15,700; Sensex hovers around 52,300

    BSE Sensex fell 276 points or 0.53 per cent to 52,301, while Nifty 50 index gave up 15,700 level and was trading at 15,662.

    09:05 (IST)28 Jul 2021
    Nifty may open at 15,780; weakness in index may continue

    Nifty is expected to open around 15780, up by about 45 points. On Tuesday, Nifty made a bearish bar and was down by 86 points. Weakness on Nifty may continue today, 15700 and 15580 will act as support and 15880-15920 range will act as strong resistance. Readers holding long positions are advised to maintain caution. Gaurav Udani, CEO & Founder, ThincRedBlu Securities

    09:04 (IST)28 Jul 2021
    Sensex gains over 350 points in pre-open

    BSE Sensex jumped 358 points or 0.68 per cent in pre-opening session on Wednesday.

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