Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Monday’s trading session in the positive territory. The NSE Nifty 50 ends up by 1.25 points or 0.01% to settle at 24,836.10, while the BSE Sensex jumped 23.13 points or 0.03% to 81,355.85. The broader indices ended in positive territory, with gain led by Small-cap and Mid-cap stocks. Bank Nifty index ended higher by 110.30 points or 0.22% to settle at 51,406.25. PSU Banks and Media stocks outperformed among the other sectoral indices while FMCG and IT stocks shed.
Share Market Live: Nifty 0.25 points away from 25,000
RNFI Services shares made a stellar debut on the stock market on Monday, listing at a significant premium to the IPO price. The shares were listed at Rs 199.50 apiece on the NSE SME, marking a 90% premium over the issue price of Rs 105 per share. This listing aligns closely with market expectations, as the grey market premium (GMP) for RNFI Services IPO was 85% today.
The share price of NBCC surged over 3% to an intra-day high after the state-run PSU secured an order worth Rs 411.45 crore. The contract is for the construction of a new government medical college with a capacity of 100 students and a 430-bed hospital in Buldhana, Maharashtra.
On Monday, July 29, 2024, Indian benchmarks Nifty50 and Sensex reached fresh record highs, driven by positive global cues. The BSE Sensex rallied by 0.51% or 416.62 points, hitting an all-time high of 81,749.34. Meanwhile, the Nifty50 surged by 0.58% or 145.6 points, reaching 24,980.45. On the BSE, NTPC and IndusInd Bank emerged as the top gainers, while Power Grid and Titan were the top laggards. Similarly, on the NSE, NTPC and BPCL led the gains, with Dr. Reddy’s and Tata Consumer experiencing declines. Broader markets also saw significant activity, with Nifty SmallCap soaring 0.92% and MidCap trading 0.53% higher. Except for FMCG and Pharma, all sectors were in the green, with Nifty PSU Bank leading the way, up 2.43%.
The gold rate of 24 carat in India was Rs 68,380 per 10 grams on July 29, while the rate for 24 carat gold per gram was Rs 6,838. The rate of 22 carat gold was Rs 62,682 per 10 grams.
The rate of 24 carat gold has dropped by 6.3% in the last one week, while in the last ten days, the yellow metal has fallen by 6.6%. The silver rate currently quotes at Rs 813.9 per 10 grams.
Bank Nifty was trading higher on Monday, in which ICICI Bank and SBI contributed the highest. The sectoral index was up 483 points, in it both ICICI and SBI contributed almost 54%.
Courtesy: NSE
Gold and silver prices exhibited significant volatility on Friday, recovering from one-month and three-month lows, respectively. Earlier in the week, prices for these metals fell due to customs duty cuts announced by the Indian Government in the Union Budget, coupled with concerns over Chinese demand. “Also, better-than-expected U.S. second-quarter GDP and jobless claims data exerted downward pressure on gold and silver prices. However, hopes of a U.S. Federal Reserve rate cut and short covering provided support at lower levels,” said Rahul Kalantri, Vice President of Commodities at Mehta Equities. The dollar index also declined from its highs ahead of the Fed policy meetings, which further supported gold and silver prices. Moreover, U.S. inflation expectations came in at 2.9%, in line with forecasts, potentially providing additional support for precious metals.
Shares of Zen Technologies rallied 5% to hit a fresh 52-week high of Rs 1,609.05 after the company’s revenue from operations jumped 92% on year to Rs 254 crore in Q1 FY25. The company’s net profit was up 57% on year to Rs 74.18 crore in the same period. Zen Technologies is stuck in a 5% upper circuit.
The stock of Bharat Heavy Electricals rose 3% to an intraday high of Rs 327 after it bagged an order worth Rs 10,000 crore from Damodar Valley Corporation (DVC) to set up the 2×800 MW Koderma phase-II thermal power station in Koderma district, Jharkhand.
Shares of Cipla falls nearly 3% to an intraday low of Rs 1,528.80 after the company’s non-executive director Samina Hamied stepped down citing personal and family commitments. The fall in prices came despite reporting a 17.4% on year growth in its net profit.
Shares of Bandhan Bank climbed over 9% to an intra-day high of Rs 209 per share on the NSE, following the announcement of its quarterly results. The bank reported a net profit of Rs 1,063 crore for the quarter ended June 30, 2024, marking a 47% increase year-on-year from Rs 721 crore in the same period last year.
Total deposits for the bank grew by 23% YoY, reaching Rs 1.33 lakh crore by the end of June 2024. The Current Account Savings Account (CASA) grew by 14% YoY sequentially, although growth was impacted by a reduction in short-term Current Account balances from the previous quarter. The bank’s CASA ratio currently stands at 33.4%.
Shriram Finance, NTPC, IndusInd Bank, ICICI Bank, BPCL are the top gainers on NSE Nifty 50 index whereas the op laggards include Power Grid Corp, Titan Company, Tata Consumer Products, Bharti Airtel, and DR Reddy’s Lab.
The NSE Nifty 50 opens up by 108.45 points or 0.44% at 24,943.30, while the BSE Sensex gains 346.93 points or 0.43% to 81,679.65.14 in the opening trade.
The company’s net profit dropped 0.90% on year to Rs 1,392.4 crore during the first quarter of the current financial year, while the revenue from operations grew by 13.88% on year to Rs 6,757.9 crore.
Hindustan Petroleum Corporation, ACC, Bharat Electronics, Arvind, ASK Automotive, Adani Total Gas, Adani Wilmar, Colgate Palmolive, CSB Bank, Data Patterns, Indian Bank, Jindal Saw, Kansai Nerolac Paints, Kalpataru Projects International, Pfizer, Quess Corp,Strides Pharma Science, Voltamp Transformers, Whirlpool of India, and Wonderla Holidays.
“On the daily charts, we can observe that the Nifty has witnessed follow-through buying interest from the previous trading session. It has recovered and made a new high thus turning the trend again from sideways to positive. The correction was merely 3% and Nifty is back to uptrend. Now this current upmove can extend towards 25350 – 25530. Support base now stands at 24400 which is the 20-day moving average. The daily momentum indicator still has a negative crossover however we shall assign more weightage to the price action and ride the up move,” said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas.
ICICI Bank infused Rs 500 crore in its subsidiary, ICICI Home Finance in the first quarter of FY25, said Sandeep Batra, Executive Director of the bank. “In Q1-2025, we did some equity. We infused about Rs 500 crore,” said Batra. The bank has till now infused Rs 1,862 crore through equity in the subsidiary.
Also, ICICI Bank reported a net profit of Rs 11,059.1 crore in the first quarter of FY25, a rise of 14.6% on year against Rs Rs 9,648.2 crore the bank posted in the corresponding period of last year.
On Friday, Bank Nifty held on to the 50600 support zone and witnessed a sharp pullback. Bank Nifty has formed a Bullish engulfing pattern on the daily charts with bullish implications. “The pattern suggests strong buying interest at lower levels and going ahead dips are likely to be bought into. On the upside, the immediate hurdle is placed at 51900 – 52100 as per the principle of role reversal and support is placed at 50900 – 50800,” said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas.
UltraTech Cements has announced its plan to acquire a 28.42% stake from the promoters and an additional 4.3% from other associates of India Cements at a price of Rs 390 per share. The total transaction value is estimated at Rs 3,954 crore.
Following this, UltraTech has also declared an open offer for an additional 26% stake in India Cements at the same rate of Rs 390 per share. This offer comes at a 4% premium to India Cements’ closing price on Friday.
This acquisition follows UltraTech’s earlier purchase of a 22.7% stake in India Cements in June through block deals, marking a continued consolidation in the industry.
Foreign institutional investors (FII) bought shares net worth Rs 2,546.38 crore. While, domestic institutional investors (DII) bought shares net worth Rs 2,774.31 crore on July 26, 2024, according to the provisional data available on the NSE.
REC posted a 16.57% increase in its consolidated net profit to Rs 3,460.19 crore for Q1 FY25 on account of higher revenues. A year ago in the same quarter, its net profit came in at Rs 2,968.05 crore. Also, the company will pay an interim dividend of Rs 3.50 per equity share.
ICICI Bank infused Rs 500 crore in its subsidiary, ICICI Home Finance in the first quarter of FY25, said Sandeep Batra, Executive Director of the bank. “In Q1-2025, we did some equity. We infused about Rs 500 crore,” said Batra. The bank has till now infused Rs 1,862 crore through equity in the subsidiary.
Also, ICICI Bank reported a net profit of Rs 11,059.1 crore in the first quarter of FY25, a rise of 14.6% on year against Rs Rs 9,648.2 crore the bank posted in the corresponding period of last year.
Cipla’s Samina Hamied, non-executive director of the company, tendered her resignation from the board with effect from October 2024 due to “personal and family commitments.” Also, the company recorded a growth of 17.4% on year in its net profit standing at Rs 1,178 crore for the first quarter FY25. In the fiscal of the same quarter, the company reported a net profit of Rs 1,003 crore. Cipla’s income from operations rose 7% on year to Rs 6,694 crore compared to Rs 6,258 crore in the same period a year ago.
The inter-ministerial panel that oversees investments linked to China is yet to give its approval to Paytm’s proposal to invest in its payment aggregator arm, a top government official said on Friday, reported PTI. The proposal is still under consideration by the inter-ministerial panel and expected to take a call soon, Financial Services Secretary Vivek Joshi told PTI.
Foreign institutional investors (FII) bought shares net worth Rs 2,546.38 crore. While, domestic institutional investors (DII) bought shares net worth Rs 2,774.31 crore on July 26, 2024, according to the provisional data available on the NSE.
Power Grid Corporation of India reported a 3.52% growth in its consolidated net profit to Rs 3,723.92 crore for the June quarter on the back of higher income. The company clocked Rs 3,597.16 crores profit for the year-ago period. During the quarter, its total income increased to Rs 11,279.59 crore against Rs 11,257.60 crore in the corresponding period of the last fiscal.
WTI crude prices were trading at $77.28 up by 0.17%, while Brent crude prices were trading at $81.38 up by 0.30%, on Monday morning.
The inter-ministerial panel that oversees investments linked to China is yet to give its approval to Paytm’s proposal to invest in its payment aggregator arm, a top government official said on Friday, reported PTI. The proposal is still under consideration by the inter-ministerial panel and expected to take a call soon, Financial Services Secretary Vivek Joshi told PTI.
In a bid to further strengthen its position in the South Indian markets, UltraTech Cement, the flagship company of the Aditya Birla Group, has announced plans to acquire a 32.72% stake in India Cements from promoters and their associates for Rs 3,954 crore. This strategic move is expected to give it a competitive edge in the fast-growing Southern cement market, particularly in Tamil Nadu.
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading down 0.08% at 104.24 on Monday morning.
US markets rose higher on Friday after GDP numbers came higher than expectation plus buoyed by fresh US inflation data. The Dow Jones Industrial Average advanced 654 points, or 1.64%, to end at 40,589. While, the broader market index, the S&P 500, gained over 1.1% to close at 5,459. Similarly, the tech-heavy Nasdaq Composite added 1.03% to settle at 17,358.