Share Market Highlights: Sensex ends just below 53,000, Nifty at 15,856; ICICI Bank, ITC top gainers

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity markets ended Friday’s trading session with gains. India VIX was in the red.

Share Market Highlights: Sensex ends just below 53,000, Nifty at 15,856; ICICI Bank, ITC top gainers
India VIX closed in the red on Friday. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic markets closed in the green on Friday. S&P BSE Sensex ended just at 52,976, gaining 0.26% or 138 points, while the Nifty 50 index was at 15,856, adding 32 points of 0.20%. Bank Nifty closed 1.03% higher, crossing the 35,000 mark. Broader markets closed mixed with some midcap and smallcap indices closing in the red. India VIX was down 1.09% on the closing bell. ICICI Bank was the top Sensex gainer at 3.18%, followed by ITC, SBI, HCL Technologies, and Axis Bank. On the other hand, Larsen & Toubro, HUl, Reliance Industries, and NTPC were the top laggards.

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16:23 (IST)23 Jul 2021
Sensex, Nifty end in green for second day straight; here’s what experts make of today’s trade

Domestic benchmark indices ended the last day of the week in the green. S&P BSE Sensex ended just at 52,976, gaining 0.26% or 138 points, while the Nifty 50 index was at 15,856, adding 32 points of 0.20%. ICICI Bank was the top Sensex gainer, surging 3.18%, followed by ITC, State Bank of India, HCL Technologies, and Axis Bank. Meanwhile, the laggards on the index were Larsen & Toubro, Hindustan Unilever, Reliance Industries, and NTPC. The banking index, Bank Nifty closed above 35,000, gaining 1.03%. Broader markets closed mixed with some midcap and smallcap indices closing in the red. India VIX was down 1.09%. Friday saw the stock market debut of Zomato. The new-age technology company soared 65% from IPO price.

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15:35 (IST)23 Jul 2021

Domestic equity markets ended Friday’s trading session with gains, rebounding strongly from intra-day lows. India VIX was in the red. Broader markets ended mixed.

15:23 (IST)23 Jul 2021
Sensex, Nifty down, but still ingreen

Sensex and Nifty were down from their highs but still holding in the green with minutes left before the closing bell. 

15:09 (IST)23 Jul 2021
Sensex gives up 53,000

Sensex was just below 53,000 with minutes left before the day’s closing bell. The index reached a high of 53,114 during the day but was seen trimming gains ahead of the closing bell.

15:02 (IST)23 Jul 2021
Inland Vessels Bills in parliament

“It’s a long-awaited and welcome move. The Bill replaces the colonial Act of 1917. The object is to have a unified federal law, instead of separate rules framed and applied to states. The aim clearly is in the right direction to boost trade while ensuring safe transportation in inland water and navigation. The bill also aims to provide for a central database for recording the details of vessel, vessel registration, crew on an electronic portal. This will streamline a number of issues presently faced by the stakeholders. The Bill also deals with navigation safety and pollution issues. Even though India is well connected with rivers and canals, its potential was not well utilised. The Act once promulgated will provide a huge boost to inland water transport, which in my view is one of the cheapest modes in carriage of goods and passengers. The logistics cost has a great impact on supply chains and use of inland waterways would grant a great relief to businesses utilizing this means of transport in the years to come,” said Gautam Bhatikar, Partner, Phoenix Legal.

14:49 (IST)23 Jul 2021
ICICI Bank top Sensex gainer

ICICI Bank surged 3% on Friday to sit as the top Sensex gainer. The private lender was trading at Rs 675 per share with less than an hour left till the closing bell. 

14:35 (IST)23 Jul 2021
Bank Nifty up in green

Bank Nifty index was up 0.79% on Friday, just shy of the 35,000 mark. ICICI Bank was among the top index gainers, helping pull the sectoral gauge higher. 

14:12 (IST)23 Jul 2021
Broader markets trade mixed

Broader markets were trading mixed on Friday while benchmark indices were up in the green. Nifty smallcap indices were in the red, Nifty Smallcap 50 was down 0.65%.

13:32 (IST)23 Jul 2021
Zomato shares overpriced? Valuation guru Aswath Damodaran estimates true value at Rs 41 only

Zomato’s stock market debut has ushered in a new era for Dalal Street with new-age technology unicorns on offer for domestic investors; however, value investors are not vying for this piece of the cake. Aswath Damodaran, one of the world’s top valuation gurus, values Zomato at just Rs 41 per share — significantly less than both IPO price as well as listing price. Aswath Damodaran, Professor of Finance at Stern School of Business, NYU, believes the stock is too expensive, considering the loss-making entity it is right now.

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12:27 (IST)23 Jul 2021
Mphasis result update

“Mphasis reported a 6.1% qoq growth in revenues to USD 363mn which was ahead of expectations. In rupee terms revenue grew by 6.6% qoq to ₹2,690.8 crore while gross profits declined by 2.6% qoq to Rs. 716.6 crore due to increase in manpower costs. Operating profit for the quarter was up by 5.3% qoq due to tight control in SG&A expenses. Net profit was up by 7.2% QoQ to ₹339.7 crore. Overall the Q1FY22 numbers were above street estimates led by solid beat on topline growth as a 9.8% qoq constant currency growth in the direct business more than offset a 18.1% qoq decline in DXC business. The company reported record direct TCV wins at USD 505mn for the quarter of which 85% came from new gen technologies. Post the Q1FY22 results concerns over degrowth in the DXC business have been addressed as the direct channel has more than offset loss from the DXC channel over the past few quarters. Moreover the contribution from the DXC business has now come down to ~9% of overall revenues as compared to over 25% of revenues a few years back. We continue to maintain our positive stance on Mphasis post the Q1FY22 results,” said Jyoti Roy – DVP- Equity Strategist, Angel Broking.

11:50 (IST)23 Jul 2021
Rakesh Jhunjhunwala-owned stock tanks 6% in one week; analysts cut rating to ‘sell’

Rakesh Jhunjhunwala-owned agrochemical maker Rallis India’s share price has plummeted 6% in the last one week, after weak quarterly results. Rallis India reported a 1.4% on-year drop in net profit to Rs 82.3 crore in the April-June quarter owing to lower than expected operational performance. This was despite an 11.7% growth in revenue during the same period. The dull quarterly performance has forced analysts at Kotak Securities to downgrade the stock to ‘Sell’ rating and cut fair value to Rs 300 per share. Big bull Rakesh Jhunjhunwala along with his wife owns more than a 9% stake in the company.

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11:06 (IST)23 Jul 2021
AGR update

Supreme Court rejects pleas of telecom majors, including Vodafone Idea & Bharti Airtel, alleging errors in calculation of AGR-related dues.


11:01 (IST)23 Jul 2021
Sensex, Nifty trade flat

Sensex and Nifty trade flat on Friday. While the Sensex was up with marginal gains, the 50-stock NSE Nifty was still trading with losses.

10:22 (IST)23 Jul 2021
Close above 15,962 to bring bulls back?

We expect the index to trade with a positive bias while maintaining higher high-low formation. Hence, use intraday dip towards 15780-15805 to create long for target of 15893.

The index has retraced more than 61% of the past three session’s decline (15962-15578) in just a single session. Therefore, in coming session key thing to monitor is that, a decisive close above life highs (15962) would lead to faster retracement which would confirm the breakout from past six weeks consolidation (15900-15500). Failure to do so would lead to extended consolidation (15900-15500) with stock specific action amid progression of Q1FY22 earning season.

~ ICICI Securities

09:59 (IST)23 Jul 2021
Indices turn green

Sensex and Nifty once again turned green on Friday morning as bulls and bears engaged in a tug of war. Nifty was holding above 15,800.

09:36 (IST)23 Jul 2021
India VIX in green

India VIX, the volatility index, surged higher on Friday. The volatility gauge opened with losses but soon rebounded as benchmark indices slipped.

09:35 (IST)23 Jul 2021
Sensex, Nifty turn red

Sensex and Nifty gave up opening gains and turned red on Friday morning. Bank stocks were among the top laggards.

09:30 (IST)23 Jul 2021
Bank Nifty up 0.33%

Bank Nifty index surged 0.33% on Friday morning to trade at 34,795 points. Bandhan Bank, AU Small Finance Bank, and RBL Bank were among the top gainers.

09:26 (IST)23 Jul 2021
Retail investors buying every dip while FIIs are selling every rise

“The legendry investor Howard Marks recently said, ‘We don’t know where we go from here. But we should know where we are’. This statement reflects the uncertainty & confusion about the future market trends, even among the best investor brains. It also cautions investors about the prevailing excessive valuations. The potent combination of superabundant liquidity and ever-rising retail investor participation ( 2.45 million new Demat accounts being opened on an average every month during April-June) is providing great resilience to the market. Retail is buying every dip while FIIs are selling every rise. From a fundamental perspective, the retail reaction is emotional while the FII response is rational. Emotion can dominate reason in the short run. Big events like Zomato listing, AGR case verdict & RIL results can influence stocks & the market today,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

09:18 (IST)23 Jul 2021

Domestic benchmark indices Sensex and Nifty 50 began the day’s trade in the positive territory. Broader markets were outperforming benchmarks. India VIX was in the red.

09:08 (IST)23 Jul 2021
Sensex just below 53,000

Sensex was just below the 53,000 mark at the end of the pre-open session while Nifty managed to cross 15,850 mark.

09:06 (IST)23 Jul 2021
Weekly F&O outlook: Bank Nifty must top 36,000 for Nifty to top 16,000; key support, resistances this week

It’s been more than a month now; our markets are trapped in a range. The point wise range for two key indices, Nifty and Bank Nifty is 500 and 1500 respectively. This certainly is a slender range considering the fact we are trading at much elevated levels. For the most part of June, we were confined to domestic triggers only; but as we stepped into a July month, the global factors started to influence our markets to a great extent. Unfortunately, global peers experience some sell off when Nifty is about to reach the milestone of 16,000 and on the other hand, some relief comes when we are at crucial support. This week’s price action is exactly a replica of this. After undergoing some price correction for the first couple of days, we witnessed a good relief rally today to reclaim the 15800 on the weekly expiry day.

09:02 (IST)23 Jul 2021
Sensex, Nifty in green

Sensex regained 53,000 during the pre-open session on Friday while Nifty was hovering around the 15,850 mark. 

08:53 (IST)23 Jul 2021
Wait for Nifty to close above 16,000

“Nifty is expected to open flat to positive at 15820, it will face strong resistance in 15830 to 15880 range. Yesterday Nifty was up by 200 points on lower than expected volume. Traders looking for going longs should wait for Nifty to close above 16000 levels and all longs should be exited if Nifty breaks 15580 levels on closing basis.”  said Gaurav Udani, CEO & Founder, ThincRedBlu Securities.

08:46 (IST)23 Jul 2021
Cabinet nod: Specialty steel PLI caps group benefit at Rs 200 crore/year

The Cabinet on Thursday approved a Rs 6,322-crore production-linked incentive (PLI) scheme to boost domestic output of high-grade specialty steel, which accounted for 60% of India’s imports of the metal last fiscal, and brightens the prospects of the local industry that primarily operates at the lower end of the value chain.

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08:41 (IST)23 Jul 2021
Zomato, RIL, Yes Bank, Bharti Airtel, HUL, Wipro, Ambuja Cements, JSW Steel, Future group stocks in focus

Nifty futures were trading 17.50 points or 0.11 per cent up at 15,831.50 on Singaporean Exchange, suggesting a positive opening for BSE Sensex and Nifty 50 on Friday. In the previous session, headline indices snapped their 3-day losing streak, ending over 1 per cent higher. Asian peers were seen trading mixed in early trade, while US stock indices on Wall Street eked out gains in overnight trade. Analysts say despite Thursday’s rally, the short term texture of the market is still on the downside. “Thursday’s sharp bounce back indicates the pullback rally is likely to continue if key indices succeed to trade above 20 day SMA or 15750/ 52600 level. We are of the view that 15750/ 52600 and 15700/52400 levels would act as crucial support levels for Nifty/ Sensex. Above the same, pullback rally is likely to continue up to 15880-15920/ 53200-53400 levels. On the other side, below 15700/ 52400, the uptrend texture would be vulnerable,” Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, said.

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08:36 (IST)23 Jul 2021
Further upside likely once resistance of 15,850 taken out

‘The Nifty could trade in a 1.2% range either side from 15800 with a bias on the upside, weekly options data show. The range for the market based on the combined value of the 15800 call and put expiring on July 29 is 16000-15600. The bias, going by the open interest put call ratio of 0.80, is on the downside, indicating traders have sold more call options than puts on the Nifty, expecting the market to move with negative bias and gobbling up the premiums received by selling puts to the option buyers.

In the coming session, the trading spot band is between 15700 and 15850,which means further upsides are likely once the immediate resistances of 15850 are taken out and weakness could emerge if the supports of 15700 are broken,’ said Raushan Kumar, Derivative Analyst, IIFL Securities.

08:30 (IST)23 Jul 2021
Nifty may touch 15,925 if it sustains above 15,770

“Cues from American markets are flattish but their futures are trading in the green this morning. Strong outperformance seen in natural gas as it hits the $4 mark. Major short covering was seen in both Nifty and Bank Nifty futures indicating a shift in setup. Put writers were back & Nifty PCR OI bounced back to 1.10 while IV’s declined. Bank Nifty saw huge addition in 35,000 Calls. Nifty back to positive territory above 15,700. Expect 15,925 to be revisited if 15,770 is sustained. Bank Nifty has stiff resistance at 35,000 which can make/break its trend,” said Rahul Sharma, Direct & Head – Research, JM Financial.

08:22 (IST)23 Jul 2021
Petrol and diesel price today 22 July 2021: Sixth day of unchanged rates; check prices in Delhi, Mumbai here

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of Petrol and Diesel were left unchanged at record highs for the sixth day straight on Friday amid the ongoing monsoon session of the parliament. Petrol in the national capital today costs Rs 101.84 per litre, while Diesel in the capital city is retailing at Rs 89.87 per litre. Fuel prices have increased 41 times since May 4 and nine times this month already, sitting at all-time highs. The price of petrol in Delhi has increased by Rs 11.15, while diesel price has surged Rs 10.80 per litre since the rates started increasing more than 2 months back. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.

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07:59 (IST)23 Jul 2021
Zomato shares to list today

Online food ordering platform Zomato, which last week closed its mega initial public offering raising over Rs 9,000 crore, will list on the stock exchanges on Friday, days ahead of its earlier schedule of the next week. The firm had indicated a window from July 23 to July 27 for listing and has now decided to list on Friday.

07:58 (IST)23 Jul 2021
Nifty needs to cross 15,880

“A sharp comeback of bulls on Thursday after a few sessions of decline seems to have changed the negative sentiment of a short term trend. Further sustainable upside above 15880 levels is likely to confirm another attempt of new all-time highs above 15960 levels in the near term. Any failure to sustain the highs could trigger downward correction from the lower top. Immediate support is placed at 15725,” said Nagaraj Shetti, Technical Research  Analyst, HDFC Securities.

07:57 (IST)23 Jul 2021
SGX Nifty up in green

SGX Nifty was trading with gains on Friday morning, signalling some positive momentum ahead of the opening bell. Cues from global markets were mixed.

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