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Share Market Highlights: Sensex ends in red, Nifty closes above 16600; RIL down 3%, Zomato tanks 11%

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty closed with losses on Monday.

Share Market Highlights: Sensex ends in red, Nifty closes above 16600; RIL down 3%, Zomato tanks 11%
India VIX rose 6.19% (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic stock markets closed with losses after a volatile trading session on Monday. S&P BSE Sensex fell 306 points or 0.55% to settle at 55,766 while the NSE Nifty 50 index ended at 16,631, down 0.53%. Mahindra & Mahindra was the worst performing Sensex stock, down 3.83%, followed by Reliance Industries and Maruti Suzuki India. Zomato’s share price tanked 11%. Tata Steel rose 3.1% as the top Sensex gainer, accompanied by IndusInd Bank and Asian paints.

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16:18 (IST) 25 Jul 2022
Sensex snaps 6-day gaining streak, Nifty may consolidate ahead of US Fed meet later this week

Domestic stock markets closed with losses after a volatile trading session on Monday. S&P BSE Sensex fell 306 points or 0.55% to settle at 55,766 while the NSE Nifty 50 index ended at 16,631, down 0.53%. Mahindra & Mahindra was the worst performing Sensex stock, down 3.83%, followed by Reliance Industries and Maruti Suzuki India. Zomato's share price tanked 11%. Tata Steel rose 3.1% as the top Sensex gainer, accompanied by IndusInd Bank and Asian paints. Bank Nifty index closed flat with a negative bias while India VIX rose 6.19%.

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15:34 (IST) 25 Jul 2022
Closing Bell

S&P BSE Sensex ends in red, dives 306 pts to settle at 55,766 while NSE Nifty 50 ended at 16631. RIL down 3%, Zomato tanks 11%.

15:29 (IST) 25 Jul 2022
Nifty just above 16600

Nifty 50 index was holding just above 16600 ahead of the closing bell. The headline index was seen slipping with minutes left before the end of the day's trade.

15:17 (IST) 25 Jul 2022
Trading in red

Sensex and Nifty were up from intraday lows but still deep in the red with minutes left before the closing bell.

15:00 (IST) 25 Jul 2022
Ultratech Cement share price falls 2% but brokerages see up to 31% upside as Q1 earnings beat estimates

UltraTech Cement share price fell over 2 percent on Monday after the company reported a 6.8% decline in net profit at Rs 1,584 crore for the quarter ended June as against Rs 1,703 crore it recorded a year back. The largest cement manufacturer in India beat the street’s estimates for both the profit as well as its consolidated revenues. Ultratech Cement shares were trading at Rs 6,297.70 apiece on the BSE, down 2.43%. So far in 2022, Ultratech Cement share price has tanked over 17%, underperforming benchmark Nifty 50 which has tumbled 5% YTD. Analysts remain positive on the stock given the strong momentum in housing, and governments’ thrust on infrastructure and industrial development which is expected to give a boost to the cement industry in FY23.

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14:14 (IST) 25 Jul 2022
Yes Bank share price plunges 4% despite lender’s Q1 profit jumping 50%; should you buy, hold or sell?

Yes Bank share price tanked 4% on Monday to Rs 14 per share on BSE even after the lender reported 50% increase in net profit at Rs 311 crore for the fiscal first quarter ending June 2022 on the back of the fall in provisions for bad loans, and healthy income growth, up from Rs 207 crore profit in the year-ago period. Yes Bank’s net interest income (NII) jumped 32% on-year to Rs 1,850 crore, whereas net interest margins (NIM) marginally declined to 2.4% during Q1FY23 from 2.5% in the previous quarter. So far this year, Yes Bank share price has risen 1.07%, outperforming benchmark Nifty 50 which has tumbled 5%. However, analysts remain sceptical of Yes Bank stock performance going forward.

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14:13 (IST) 25 Jul 2022
ICICI Bank share price jumps 1% after Q1 results beat estimates; should you buy, hold or sell?

ICICI Bank share price jumped 1.27% on Monday to Rs 811 on BSE after the private sector bank reported a 50% in net profit to Rs 6,905 crore in the first quarter of the current fiscal, up from Rs 4,616 crore profit reported in the same quarter a year ago. ICICI Bank’s total income improved to Rs 28,336.74 crore in the quarter under review, up from Rs 24,379.27 crore in the in FY22. So far this year, ICICI Bank share price has risen 4.56%, outperforming Nifty 50 which as tanked 5% and Nifty Bank index which is up merely 0.87% YTD. Brokerages see up to 35% potential rally in the stock going forward given the private lender’s growth outlook and earnings trajectory.

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14:12 (IST) 25 Jul 2022
Adani Enterprises, Blue Dart Express among 108 stocks to hit 52-week high on BSE, 30 scrips at fresh lows

Adani Enterprises, AGI Infra, Adani Total Gas, Automotive Axles, Bharat Electronics, Blue Dart Express, Ethos, Gujarat Fluorochemicals, Foseco India, Gensol Engineering, Hardwyn India, Insecticides (India), J Kumar Infraprojects, Maharashtra Seamless, Pearl Green Clubs and Resorts, Rajratan Global Wire, Rolex Rings, Shubham Polyspin, TCPL Packaging, Timken India, Venus Pipes & Tubes, Vinyl Chemicals were among the stocks that hit 52-week high on BSE. Meanwhile, BFL Asset Finvest, Future Retail, Hindusthan Urban Infrastructure, KBC Global, Mitsu Chem Plast, Mather & Platt Fire Systems, Oceanic Foods were among the scrips at fresh lows.

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13:43 (IST) 25 Jul 2022
Sectoral watch

All Nifty sectoral indices were down in the red on Monday, following headline indices. Nifty IT and Nifty Metal index were the only two indices that were trading with gains.

13:13 (IST) 25 Jul 2022
Buy Eicher Motors shares

The stock price started its up move from 97.5 (Feb 2011). The stock made a high of 3348 in Sept 2017, in continuous uptrend & trading above averages. Thereafter, the stock corrected and made a low of 1246 in April 2020. The stock again immediately traded in uptrend, supported by volumes & made a high of 3036 (Jan 2021). There after till date the stock always took support of the averages and consolidated in a range of (2300-3000) area. Recently the stock gave Range breakouts & made a high of 3179 (Crossing all highs made after July 2018), accompanied by volumes. The Vortex, William % R and Demand Index indicator suggest a possible firm uptrend. Vortex Indicator captures Negative and Positive Trend movement. William % R reflects the level of close relative to the highest high of the look back period. Demand Index reflects Buying & Selling pressure in the stock. The possible targets are 4000-5000-6000 . If the stock price corrects downwards the buy levels are (2925-2770)-2645-(2520- 2445). Stop Loss to be observed in the trade is 2400.

~ Bharat Gala, President – Technical Research, Ventura Securities

13:03 (IST) 25 Jul 2022
Volatility zooms

India VIX, the volatility index, was up 6.73% on Monday afternoon. The index breached 17.5 levels as Sensex and Nifty fell.

11:55 (IST) 25 Jul 2022
MCX Gold prices to trade sideways to down this week, heading for 4th monthly loss; support at Rs 49800

We expect gold prices to trade sideways to down this week with COMEX spot gold resistance at $1760 per ounce and support at $1676 per ounce. At MCX, Gold August prices have near term resistance at Rs. 51200 per 10 grams and support at Rs. 49800 per 10 gram. COMEX Spot silver has near term resistance at $19.70 per ounce with support at $17.90 per ounce. MCX Silver September has important resistance at Rs. 57200 per KG and support at Rs. 52800 per KG. Read full story

11:48 (IST) 25 Jul 2022
Sensex gainers

Tata Steel was the top Sensex gainer on Monday morning, jumping 2.39%, followed by IndusInd Bank and Bharti Airtel.

11:37 (IST) 25 Jul 2022
Stocks to buy: 2 Tata Group stocks may rally 19% in 2-3 months, charts and fundamentals hint at up move

Domestic stock markets have entered the last week of July, heading towards the monthly futures & options expiry. Analysts are expecting heightened volatility this week and the India VIX is not disappointing them. India VIX rose 5.5% on Monday to regain 17 levels after having plummeted below the same last week. S&P BSE Sensex was down nearly 400 points or 0.68% while NSE Nifty 50 was nearing 16,600. While bulls and bears expected to battle it out this week on Dalal Street, analysts at JM Financial have picked two Tata Group stocks — Tata Elxsi and Tata Consumer Products — projecting as much as 19% upside backed by fundamental and technical analysis.

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11:31 (IST) 25 Jul 2022
Indian rupee support at 78.80-78.50 against USD; interest rate decisions by US Fed, ECB, Bank of Japan eyed

In the week gone, spot USDINR gained 62 paise or 0.8% to 79.88, registering the biggest weekly gains since March 2022. After witnessing a parabolic up move in the last couple of months there could be some consolidation on the cards, in the coming days. The pair is having near-term resistance at 80 followed by 80.90 while on the downside it has support in the area of 78.80 to 78.50. Read full story

11:06 (IST) 25 Jul 2022
Nifty likely to hit 17000 in coming weeks, use dips for buying in Bank Nifty; Buy SBI, TCS, HDFC for gains

On the broader market front, the benchmark index Nifty and midcap index have approached their 200 days EMA, however small cap index is still 6% away from its 200 days EMA. Thus, we expect catch up activity to be seen in the broader market. Hence, focus should be on accumulating quality mid and small caps amid ongoing Q1FY23 earning season. Read full story

10:31 (IST) 25 Jul 2022
Highest open interest at 17200 for Calls and 16500 for Puts

“Nifty weekly contract has highest open interest at 17200 for Calls and 16500 for Puts while monthly contracts have highest open interest at 17200 for Calls and 16700 for Puts. The highest new OI addition was seen at 17000 for Calls and 16000 for Puts in weekly and at 17000 for Calls and 16500 for Puts in monthly contracts. FIIs increased their future index long position holdings by 9.19%, increased future index shorts by -11.25% and in index options by 33.23% in Call longs, 23.82% in Call short, 40.48% in Put longs and 42.23% in Put shorts,” said Anand James – Chief Market Strategist at Geojit Financial Services.

10:18 (IST) 25 Jul 2022
Zomato share price plunges 14%, hits new all-time low; check what’s fuelling the sell-off

Zomato share price plunged more than 14 per cent to Rs 46 apiece, a new all-time low, on BSE on Monday, as one-year lock-in period for the pre IPO investors has ended. The stock has plummeted 73 per cent from its all time high of Rs 169.10 apiece, touched last year in November. While on a year-to-date basis, Zomato stock has tanked 65 per cent. Analysts say that the end of one-year lock-in period has resulted a bit of a selling rush in the stock and this has also sent the stock in the oversold territory. Read full story

09:49 (IST) 25 Jul 2022
Zomato share price tanks

Zomato's share price was down 13% on Monday morning to hit a new low of Rs 46 per share. The one-year lock-in period for institutional investors of Zomato ended today.

09:42 (IST) 25 Jul 2022
Financial benefitting from FIIs

“The Fed's rate announcement on 27th July is not likely to impact the market much since a 75 bp rate hike is already known and discounted by the market. The market will be keenly watching the Fed commentary for near-term triggers. FII selling, which has been a major drag on the market since October 2021, is unlikely to impact the market in the near-term since FIIs have turned buyers recently. As expected, financials have benefited from the recent change in FII investment strategy,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

09:27 (IST) 25 Jul 2022
Reliance share price tanks over 3% as Mukesh Ambani’s RIL’s Q1FY23 profit misses estimates; buy, sell, hold?

Reliance Industries share price fell more than 3 per cent to Rs 2,425 apiece on BSE on Monday after the company’s fiscal first quarter consolidated net profit missed street estimates. Mukesh Ambani’s RIL reported 46 per cent on-year jump in net profit to Rs 17955 crore, against the expectations of 100 per cent rise in net profit. Last year in the April-June quarter, RIL had reported a net profit of 12,272 crore. Research and brokerage firms see up to 28 per cent upside potential in RIL share price from last close, as they believe RIL’s new energy business may unleash the next leg of growth. Read full story

09:25 (IST) 25 Jul 2022
Opening Bell

S&P BSE Sensex opened flat with a negative bias on Monday morning, giving up 56,000. Nifty 50 just shy of 16,700; RIL down 3%.

09:24 (IST) 25 Jul 2022
Infosys share price falls 1.37% after Q1 profit misses estimates, guidance bullish; should you buy or sell?

Infosys share price dropped 1.37% on Monday morning to trade at Rs 1,480 per share as investors reacted to the company’s soft growth in net profit. Infosys, on Sunday evening, informed the bourses that its net profit rose just 3.1% on-year basis in the April-June quarter, missing estimates pinned by Dalal Street analysts. Revenue of the company was up 23.6% from the same quarter last year. “Infosys reported a subdued performance in 1QFY23 with EBIT margin coming in at 20.1%, 163 bps below our estimate of 20.7%,” said Mitul Shah – Head of Research at Reliance Securities. Analysts, however, still remain bullish on the information technology giant, reiterating their ‘Buy’ calls. Infosys has raised its revenue guidance. 

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09:22 (IST) 25 Jul 2022
Infosys share price falls 1.37% after Q1 profit misses estimates, guidance bullish; should you buy or sell?

Infosys share price dropped 1.37% on Monday morning to trade at Rs 1,480 per share as investors reacted to the company’s soft growth in net profit. Infosys, on Sunday evening, informed the bourses that its net profit rose just 3.1% on-year basis in the April-June quarter, missing estimates pinned by Dalal Street analysts. Revenue of the company was up 23.6% from the same quarter last year. “Infosys reported a subdued performance in 1QFY23 with EBIT margin coming in at 20.1%, 163 bps below our estimate of 20.7%,” said Mitul Shah – Head of Research at Reliance Securities. Analysts, however, still remain bullish on the information technology giant, reiterating their ‘Buy’ calls. Infosys has raised its revenue guidance. 

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09:01 (IST) 25 Jul 2022
Pre-open

Sensex and Nifty were trading with losses during Monday's pre-open session. Nifty was hovering around16700 while Sensex gave up 56000.

08:53 (IST) 25 Jul 2022
16500-16400 to act as support for Nifty

“OI Data indicates, on the call side the highest OI witnessed at 17000 strike prices while on the put side, the highest OI was at 16500 strike price. The Nifty may find strong support around the 16500-16400 zone while on the upside 17000 may act as strong resistance,” said Sumeet Bagadia Executive Director Choice Broking.

08:51 (IST) 25 Jul 2022
Nifty forming bullish candles on daily & weekly charts, may head to 17000 if it holds 16666 levels

Bulls return to the party after a long time, with an all-round performance of stocks across sectors. Domestic equity markets overcame the downbeat mood and logged gains of over 4 per cent for the week ended July 22 with Sensex closing above 56000 psychological level and Nifty above 16700 marks. There was rally attributed to strong global and domestic cues. Global market soared by 2-4% against the previous week close on account of better than expected US quarterly results and impressive economy data, despite ECB hiking interest rate by 50bps, first hike in 11-years. On the domestic front, rebound in FIIs inflow, impressive quarterly results announcement, stable oil price and hope of good monsoon boosted market sentiment. FIIs were net buyers over Rs 4000 crore last week after a long time and Brent crude was stable around $100/bbl.

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08:35 (IST) 25 Jul 2022
Buy these two stocks for gains as Nifty charts its way towards next resistance in 16700-16800 range

Last week was a super bullish week for the Indian bourses where the Nifty 50 index rallied more than 500 points gaining close to 5 % to close above 16650 levels. After 14 weeks the benchmark index has closed above its 21 & 50–week exponential moving average on the weekly chart and this can be a sign of an intermediate bottom for the index.  Prices have witnessed two gap-up openings and both the gaps are unfilled creating strong support for the index. Currently, the benchmark index is closed above its 21, 50 & 100–day exponential moving average and the closest average support is 100 DEMA which is placed at 16440 levels. 

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08:30 (IST) 25 Jul 2022
Traders should maintain their focus on managing overnight risk

Markets have recovered over 10% from the bottom in the last five weeks and now we are inching closer to the major hurdle of previous swing high i.e. 16,800  in Nifty. A decisive break above that mark would keep the momentum going and help the index to test 17,400. In case of any consolidation, 16,250-16,500 zone would act as a support. The banking index has also reached at the trendline hurdle around 36,900 zone and its break could further propel the momentum. Indications are in the favour the prevailing bias to continue with some intermediate pause and it would be healthy. Though all the sectors are contributing to the move now,  the preference should be given to top performers like auto, FMCG, banking and financials and look selectively to others. Amid the recent buoyancy, traders should maintain their focus on managing overnight risk and stock-specific volatility, which may remain high due to earnings and derivatives expiry.

~ Ajit Mishra, VP – Research, Religare Broking

08:12 (IST) 25 Jul 2022
FPIs return to Indian equities; invest Rs 1,100 crore in July

The relentless selling by foreign investors appears to have taken a breather as they have turned net buyers so far this month with an investment of nearly Rs 1,100 crore in the Indian equity market. This comes following a net withdrawal of Rs 50,145 crore from equities in June. This was the highest net outflow since March 2020, when they had pulled out Rs 61,973 crore from equities, data with depositories showed.

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08:11 (IST) 25 Jul 2022
Reliance, Infosys, ICICI Bank, PB Fintech, Yes Bank, Vodafone Idea, Kotak Bank, GAIL stocks in focus

Indian equity markets may start the week on a tepid note amid weak global cues. SGX Nifty hinted that Dalal Street was headed for a negative start as Nifty futures traded 81.5 points, or 0.49% lower at 16,643.50 on the Singapore Exchange. In the previous session, Sensex ended 390 points higher at 56,072, and Nifty 50, rose 114.20 points to close above 16,700. “Markets have recovered over 10% from the bottom in the last five weeks and now we are inching closer to the major hurdle of previous swing high i.e. 16,800 in Nifty. A decisive break above that mark would keep the momentum going and help the index to test 17,400. In case of any consolidation, 16,250-16,500 zone would act as a support,” said Ajit Mishra, VP – Research, Religare Broking.

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08:10 (IST) 25 Jul 2022
SGX Nifty in red

SGX Nifty was down 44 points on Monday morning. Nifty futures on Singapore Exchange suggest a flat to negative opening for Dalal Street.

08:09 (IST) 25 Jul 2022
FPIs return to Indian equities; invest Rs 1,100 crore in July

The relentless selling by foreign investors appears to have taken a breather as they have turned net buyers so far this month with an investment of nearly Rs 1,100 crore in the Indian equity market. This comes following a net withdrawal of Rs 50,145 crore from equities in June. This was the highest net outflow since March 2020, when they had pulled out Rs 61,973 crore from equities, data with depositories showed.

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08:08 (IST) 25 Jul 2022
Fed interest rate decision, earnings, global trends to drive equities this week: Analysts

Domestic stock markets are expected to see high volatility this week due to a host of factors such as US Fed rate decision, monthly derivatives expiry and announcement of results by index companies, analysts said. Foreign investment and trends in global markets and movement of the rupee as well as crude oil would impact the market sentiment, they said.

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