Share Market News Today | Sensex, Nifty, Share Prices LIVE: The benchmark equity indices ended Tuesday’s trading session in the positive territory. The NSE Nifty 50 gained 21.20 points or 0.09% to settle at 24,857.30, while the BSE Sensex jumped 99.55 points or 0.12% to 81,455.40. The broader indices ended in mixed territory, with gain led by Largecap and Midcap stocks. Bank Nifty index ended higher by just 93.05 points or 0.18% to settle at 51,499.30. Energy and Media stocks outperformed among the other sectoral indices while FMCG and Pharma stocks shed.
Share Market Live: Stocks in Asia trades lower
HDFC Bank, NTPC, and Power Grid Corp along with Tata Motors were holding the Nifty 50 steady.
Courtesy: NSE
The stock of Power Grid Corporation rose 4.3% to hit a fresh 52-week high of Rs 356.90 from its previous close of Rs 342.35. The surge came after the company said it was planning an undersea interconnection worth up to Rs 40,000 cr with countries in the Middle East.
“We expect the Federal Open Market Committee (FOMC) will opt to maintain key interest rates at current levels at the conclusion of its upcoming meeting on July 31. However, traders are now 100% certain the Federal Reserve will cut interest rates by September and there are 6.7% odds that the rate will be a half percentage point lower in September,” said Reliance Securities in a research note.
Shares of Rail Vikas Nigam rose 3.4% to an intraday high of Rs 626.80 after the company emerged as the lowest bidder for a project worth Rs 739.07 crore. The project is the development of distribution infrastructure at Central Zone of Himachal Pradesh.
The 24 carat gold rate in India was Rs 68,440 per 10 grams on July 30. While the rate for 24 carat gold per gram is Rs 6,844. The rate of 22 carat gold was Rs 62,737 per 10 grams. The rate of 24 carat gold has dropped by 0.4% in the last one week, while in the last ten days, the yellow metal has fallen by 6.5%. The silver rate currently quotes at Rs 812.7 per 10 grams.
Read more: Gold, silver rate today on July 30 in Mumbai, Delhi, Chennai, Kolkata
Suzlon up for the 7th straight session, up more than 20% since Q1 result outcome. The renewable energy company reported a record-breaking first quarter for FY25, with an 86% increase in EBITDA to ₹370 crore and the highest quarterly deliveries in seven years. This strong performance was driven by a record order book of 3.8 GW, the largest in the company’s 29-year history.
Despite Hindustan Petroleum Corporation Limited (HPCL) reporting a 90.6 percent decline in consolidated net profit for the first quarter of FY25, the company’s share price jumped over 1% on July 29. HPCL’s net profit for the quarter stood at Rs 633.94 crore, down from Rs 6,765.50 crore in the same period last year. The significant drop in profit was mainly attributed to weak gross refining margins (GRM) and higher crude oil prices compared to the previous year.
Commenting on the Gold and Silver outlook Rahul Kalantri, VP Commodities, Mehta Equities said that Gold and silver prices are struggling to clear $2,400 and $28.00 respectively as the U.S. dollar gains ground against a broad basket of currencies. Precious metals consumer demand in Asia has been hampered due to high retail prices and China’s economic growth woes. Meanwhile, geopolitical risks have capped the losses for gold following Hezbollah’s rocket strike on Israel, which threatens to escalate the conflict in the Middle East.
Kalantri also added Gold and silver prices are expected to remain volatile in today’s session as traders anticipate the release of crucial economic data from the US. Investors are particularly focused on the JOLTS Job Openings report, the ADP Employment Change data, and the FOMC’s decision. Gold has support at $2,358-$2,340, with resistance at $2,400-$2,418. Silver has support at $27.52-$27.35, with resistance at $28.00-$28.22. In INR, gold has support at ₹67,920-₹67,640, with resistance at ₹68,280-₹68,450. Silver has support at ₹80,450-₹79,780, with resistance at ₹81,750-₹82,200.
Colgate Palmolive‘s share price surged over 6% to reach a 52-week high on Tuesday following the company’s strong earnings report for the first quarter of FY25. Colgate shares climbed as much as 6.20% to Rs 3,408.40 apiece on the BSE.
On Tuesday, July 30, 3.4 crore shares, representing 13.1% equity of PNB Housing Finance, were traded in block deals. The shares, worth Rs 2,642 crore, changed hands at Rs 778 per share. The official buyers and sellers of the transaction have not yet been disclosed.
RVNL share price gains 3% to intra-day high after Rail Vikas Nigam Ltd. emerges as the lowest bidder for the development of distribution infrastructure at Central Zone of Himachal Pradesh. The order is worth Rs 739.07 crore.
NTPC, Power Grid Corp, Britannia Industries, BPCL and Hindustan Unilever are the top gainers on NSE Nifty 50 index whereas the top laggards include Hindalco, SBI Life Insurance, HDFC Life Insurance, LTIMindtree, and Tata Steel.
The NSE Nifty 50 opens up by just 3.30 points or 0.01% at 24,839.40, while the BSE Sensex drops just 6.57 points or 0.01% to 81,349.28 in the opening trade.
Quality Investment Holdings, a US-based private equity firm Carlyle entity, is expected to offload its 6.4% stake in PNB Housing Finance through a block deal on Tuesday.
The Rs 1,856.74-crore IPO is set to open for bidding on Tuesday, with a price band ranging from Rs 646 to Rs 679 per share.
Indian Oil Corp, Tata Consumer Products, and GAIL (India), 360 ONE WAM, Aegis logistics, Ajanta Pharma, Apar Industries, Arvind SmartSpaces, Carborundum Universal, CarTrade Tech, Castrol India, Dixon Technologies, Exide Industries, Fine Organics Industries, Force Motors, Firstsource Solutions, Granules India, Greenpanel Industries, Indiamart Intermesh, Indus Towers, Johnson control Hitachi, Jindal Stainless, Lloyds Metals and Energy, Macrotech Developers, MOIL, Navin Fluorine International, PTC Industries, Raj Ratan Global Wire, RR Kabel, Sapphire Foods, Shyam Metalics and Energy, Star Health and allied Insurance, Titagarh Rail Systems, Torrent Power, Varu Beverages, Vardhman Textiles and Waaree Renewable Technologies.
Data Patterns (India) Limited, a Chennai-based provider of defense and aerospace electronics systems, reported a 27 percent increase in net profit for the first quarter ended June 30, 2024. The net profit rose to Rs 33 crore, compared to Rs 26 crore in the same quarter last year.
State-owned oil marketing company (OMC) HPCL reported a significant decline in consolidated net profit for the first quarter (April-June) of 2023-24 (FY25). The net profit dropped by 90.6 percent to Rs 634 crore, compared to Rs 6,765 crore in Q1 FY24. This decrease is attributed to weak gross refining margins (GRM) and elevated costs.
Commenting on the Bank Nifty outlook Kunal Kamble Sr. Technical Research Analyst at Bonanza Portfolio said that Bank Nifty showed promising movement in the first half of the day by outperforming other benchmark indices but failed to sustain the uptrend, closing near its low.
Kamble also added Bank Nifty is currently trading below 51,750, which previously acted as a strong support level and will now serve as a significant resistance. A close above 51,750 could attract buyer interest, while a drop below 50,300 might lead to increased selling pressure.
Arvind Limited, a leading Indian clothing retailer, has reported a decline of 40% in its profit after tax (PAT) in Q1 FY25 to Rs 39 crore from a profit of Rs 65 crore in the same quarter of last financial year. The Ahmedabad-based textile major’s overall revenue from the operations for the first quarter stood at Rs 1,831 crore compared to a revenue of Rs 1,853 crore in Q1 FY24, a marginal decline of one per cent. Arvind Limited sells brands like Tommy Hilfiger, Calvin Klein and Arrow.
Rail Vikas Nigam Ltd. emerges as the lowest bidder for the development of distribution infrastructure at Central Zone of Himachal Pradesh. The order is worth Rs 739.07 crore.
Foreign institutional investors (FII) sold shares net worth Rs 2,474.54 crore. However, domestic institutional investors (DII) bought shares net worth Rs 5,665.54 crore on July 29, 2024, according to the provisional data available on the NSE.
ACC’s consolidated profit after tax (PAT) fell 22.5% to Rs 361 crore in the first quarter of the financial year 2024-2025 as sales missed. The company had reported a PAT of Rs 466 crore in the year-ago period. Its revenue from operations also dropped to Rs 5,154.89 crore in the June quarter against Rs 5,201.11 crore in the year-ago period.
Hindustan Petroleum reported a sharp decline of 90% in its consolidated net profit for the Q1FY25, amounting to Rs 634 crore compared to Rs 6,765.5 crore in the corresponding period of the previous fiscal year. The net profit also declined by 76.6% sequentially from Rs 2,709.31 crore in the fourth quarter of FY24, due to a reduction in the company’s gross refining margins. Furthermore, the reduction in fuel prices impacted the company’s marketing margins. The state-owned oil marketing companies had earlier cut auto fuel prices by Rs 2 per litre, the first reduction since April 2022.
WTI crude prices were trading at $75.61 down by 0.28%, while Brent crude prices were trading at $79.59 up by 0.23%, on Tuesday morning.
Bharti Airtel on Monday said it is re-farming its existing 4G spectrum in 1800 MHz, 2100 MHz and 2300 MHz bands to meet the growing traffic demand on the 5G network. Re-farming of spectrum means utilising the frequency for another technology (5G in this case) switching it from the technology (4G) it was initially allocated for. The recently enacted Telecom Act has provisions that allow telecom operators to re-farm spectrum, or use it for other technologies than initially intended when they bought it.
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading up 0.06% at 104.63 on Tuesday morning.
Tata Steel acquired over 5.57 billion equity shares in its Singapore-based arm for $875 million. In May, Tata Steel’s board gave the nod for the infusion of funds into T Steel Holdings Pte Ltd (TSHP), by way of subscription to equity shares in one or more tranches, said the company in an exchange filing.
US markets ended on a mixed note on Monday as it geared toward corporate earnings and FOMC ahead. The broader market index, the S&P 500, gained 0.08% to close at 5,464. Similarly, the tech-heavy Nasdaq Composite added 0.07% to settle at 17,370. Meanwhile, the Dow Jones Industrial Average dropped 49.41 points, or 0.12%, to end at 40,540.