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Stock Market Highlights: Tech View: Nifty charts hint at indecisiveness; key hurdle at 24,400. Here’s how to trade on Tuesday
08 Jul 2024 | 08:03:14 PM IST
Nifty ended Monday’s session flat amid non-directional activity indicating indecisiveness between bulls and bears and form a Doji-type candle on the daily charts.
The short term trend of Nifty continues to be positive. There is a possibility of continuation of this range movement for the next 1 or 2 sessions before witnessing further up move above 24400 levels. A sustainable move above the key hurdle of 24400 levels could open a sharp up move for the market ahead, said Nagaraj Shetti of HDFC Securities.
Show moreThe short term trend of Nifty continues to be positive. There is a possibility of continuation of this range movement for the next 1 or 2 sessions before witnessing further up move above 24400 levels. A sustainable move above the key hurdle of 24400 levels could open a sharp up move for the market ahead, said Nagaraj Shetti of HDFC Securities.
1 New Update
RKN Enterprises sells 12.65% stake in Godrej Industries for Rs 3,803 cr under settlement plan
RKN Enterprises, part of the Godrej Enterprises Group, sold shares worth Rs 3,803 crore in Godrej Industries Ltd on Monday as part of the Godrej family settlement announced in April. According to BSE block deal data, RKN Enterprises offloaded 4,25,83,272 shares, representing a 12.65% stake in Godrej Industries, at an average price of Rs 893.05 per share, totaling Rs 3,802.90 crore.
Nasdaq, S&P 500 open at record highs with data, earnings in focus
Wall Street opened higher on Monday, with the Nasdaq and S&P 500 hitting new intraday highs, driven by investor anticipation of key inflation data releases and the upcoming start of corporate earnings season. At the opening bell, Dow futures were up 0.59%, S&P 500 futures were up 0.18%, and Nasdaq 100 futures were up 0.04%.
Pitti Engineering launches QIP
Issue size at ₹360 crore.
FIIs net buyers on Monday at ₹60.98 crore; DIIs net buy ₹2,866.79 crore in equities
Accenture acquires Bengaluru-based chip design services provider Excelmax
Accenture announced on Monday the acquisition of Excelmax Technologies, a Bengaluru-based provider of semiconductor design services, for an undisclosed amount. The move aims to bolster Accenture's capabilities in silicon design and engineering, according to a statement from the company.Excelmax specializes in custom silicon solutions essential for consumer devices, data centers, artificial intelligence (AI), and computational platforms that facilitate edge AI deployments. Its clientele spans across automotive, telecommunications, and high-tech industries.
Chile's central bank to hold interest rate at 5.75% in July, poll suggests
Chile's central bank is anticipated to maintain its benchmark interest rate at 5.75% during its upcoming monetary policy meeting this month, according to a trader poll released by the bank on Monday. The poll also indicates that the benchmark interest rate is expected to decrease to 5.0% within the next 12 months.
Akums Drugs gets Sebi's nod to float IPO
Akums Drugs and Pharmaceuticals has received approval from Sebi to raise funds through an initial public offering (IPO), as per an update on Monday. Gold Plus Glass Industry Ltd, Ceigall India, and Orient Technologies also received the regulator's approval for their IPOs. These companies submitted their preliminary IPO papers to Sebi in February, with observations obtained between June 29 and July 2, 2024.
Sebi puts SK Finance's Rs 2,200-cr IPO in abeyance
The Securities and Exchange Board of India has put the proposed IPO of SK Finance, a non-bank lender focused on vehicle finance and business loans, on hold. Sebi did not disclose the reason, stating only that the "issuance of observations has been kept in abeyance," according to an update on the regulator's website on Monday.
Exxon Mobil expects oil prices to boost second-quarter earnings
Exxon Mobil announced on Monday that changes in oil prices would boost its second-quarter upstream earnings by $300 million to $700 million compared to the first quarter. The company will report its first earnings after acquiring Pioneer Natural Resources for $60 billion, making it the largest oil producer in the Permian basin with the combined operations.
Indecisive trading day for Nifty as investors await breakout above 24,400
Nifty ended Monday’s session flat amid non-directional activity indicating indecisiveness between bulls and bears and form a Doji-type candle on the daily charts.
The short term trend of Nifty continues to be positive. There is a possibility of continuation of this range movement for the next 1 or 2 sessions before witnessing further up move above 24400 levels. A sustainable move above the key hurdle of 24400 levels could open a sharp up move for the market ahead, said Nagaraj Shetti of HDFC Securities.
The short term trend of Nifty continues to be positive. There is a possibility of continuation of this range movement for the next 1 or 2 sessions before witnessing further up move above 24400 levels. A sustainable move above the key hurdle of 24400 levels could open a sharp up move for the market ahead, said Nagaraj Shetti of HDFC Securities.
Pakistan stock exchange resumes trading after 2-hour halt on fire
Pakistan Stock Exchange resumed trading after a two hours halt as a fire broke out at the main building in Karachi on Monday morning.
The stocks trading restarted at about 12.30 pm local time.
The stocks trading restarted at about 12.30 pm local time.
Cryptocurrency price on July 8: Bitcoin dips below $57K, altcoins Ethereum, BNB up 1%
RailTel Corp to pay Rs 1.85/share as final dividend: Report
Nifty Bank closes lower; strong support is placed at 52000: Experts
The Nifty Bank closed lower for the second consecutive day in a row on Monday.
The Nifty Bank closed 176 points lower at 52,484 while the Nifty50 closed flat but with a positive bias at 24,332.
Kotak Mahindra Bank, ICICI Bank, IndusInd Bank and Federal Bank closed in the green while some selling was seen in PNB, IDFC First Bank, Bank of Baroda and AU Small Finance Bank.
The Nifty Bank closed 176 points lower at 52,484 while the Nifty50 closed flat but with a positive bias at 24,332.
Kotak Mahindra Bank, ICICI Bank, IndusInd Bank and Federal Bank closed in the green while some selling was seen in PNB, IDFC First Bank, Bank of Baroda and AU Small Finance Bank.
Rupee falls 1 paisa to 83.50 against US dollar
On Monday, the rupee trimmed early gains to close 1 paisa lower at 83.50 against the US dollar, as subdued domestic equities dampened investor sentiment. At the interbank foreign exchange market, the rupee opened at 83.45, reaching an intraday high of 83.44 and a low of 83.50 against the dollar. It ultimately settled at 83.50, marking a loss of one paisa from the previous close.
The Nifty remained range-bound during the day, as market participants appeared to be in no hurry to decide the market's direction. Support remains at 24,240, and a fall below this level might weaken the strength of the bulls. Until then, dips might be bought into. On the higher end, resistance is seen at 24,375-24,400. Above 24,400, the index might move towards 24,600.
- Rupak De, Senior Technical Analyst, LKP Securities
Sensex Today | Stock Market LIVE Updates: HDFC Bank continues to weigh down, whereas RIL continues to provide strong support for Nifty
Price as on 03.41.43 PM, Click on company names for their live prices.
Rupee falls 1 paisa to close at 83.50 against US dollar
Sensex Today | Sector View: FMCG stocks shine
The market is turning to a consolidation phase due to the absence of major triggers to support the current premium valuation in the near term, prompting investors to book some profits. The earnings season is around the corner, and the initial expectation is subdued. With stable input prices and ongoing price cuts, the period of margin expansion appears to be concluding, which is likely to affect earnings and valuations.
- Vinod Nair, Head of Research, Geojit Financial Services
Stock Market LIVE Updates: Railway stocks surge up to 15% ahead of Union Budget
Price as on 03.38.04 PM, Click on company names for their live prices.
Sensex Heatmap: 15 of 30 Sensex stocks end in the green
Closing Bell: Nifty holds 24,300
Closing Bell: Sensex ends volatile session 36 pts lower, Paytm jumps 8%, YES Bank sheds 4%
Sensex Today | Stock Market LIVE Updates: FMCG bucks the trend, top sectoral gainer
Top gainers from the index.
Price as on 03.21.27 PM, Click on company names for their live prices.
Stock Market LIVE Updates: Japan's net sale of foreign bonds in June biggest in two years
In June, Japanese investors sold foreign bonds as U.S. Treasury bond yields fell, driven by expectations of a Federal Reserve rate cut due to easing price pressures. According to Japan's Ministry of Finance, domestic investors offloaded a net 3.93 trillion yen ($24.42 billion) worth of foreign bonds, marking their largest monthly net selling since June 2022.
Stock Market LIVE Updates: LIC premium up 13.6%; total APE 20.8% & retail APE 12.7% in June
Price as on 03.07.42 PM, Click on company names for their live prices.
Stock Market LIVE Updates: CGPower appoints Amar Kaul as MD & CEO for 5 years effective July 25
Price as on 02.56.35 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Tata Consumer Products Limited (TCPL) will continue to invest in its brands and accelerate the growth momentum of the core businesses, tea, coffee and salt, the company's annual report said.
Price as on 02.49.56 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Sakar Healthcare starts product Dossier submission to overseas countries.
Price as on 02.24.59 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | GRM Overseas Partners with diplomat, set to expand presence in Georgia; stock rallies 6%
Price as on 02.09.32 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | ICICI Prudential Life Insurance's Q1FY25 new business premium rises 23.5% YoY
Price as on 02.08.35 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | GE Power India receives purchase order from NTPC worth Rs 1.87 crore
Price as on 02.07.28 PM, Click on company names for their live prices.
Sensex Today | Accel and Flipkart-backed Zinka Logistics files DRHP with Sebi for IPO
Sensex Today | Stock Market LIVE Updates | Waaree Renewable Technologies gets 412.5 MW solar project in Rajasthan; stock jumps 5%
Price as on 01.18.33 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Railway Stocks in Focus: Surge up to 13% ahead of Union Budget
Price as on 12.58.48 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Tata Motors Q1 Update
- Q1 global wholesale is up 2% at 3.29 lakh units YoY
- Global PV sales down 1% YoY
Price as on 12.50.46 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | RIL shares hit fresh 52-week high
Stock Market LIVE Updates | French shares dip after left wins most seats in parliamentary elections
French stocks declined on Monday following news that the leftist New Popular Front alliance secured the most seats in a hung parliament, lacking a clear governing majority.
Shares of BNP Paribas, France's largest bank, fell by 1.2%, while SocGen saw a dip of 1.4%.
Shares of BNP Paribas, France's largest bank, fell by 1.2%, while SocGen saw a dip of 1.4%.
Europe stocks fall on French post-election uncertainty
Europe's stock markets slid in opening deals on Monday after snap French elections in which a hung parliament appeared the likeliest outcome.
In the eurozone, the Paris CAC 40 benchmark stocks index sank 0.4 percent and Frankfurt's DAX shed 0.1 percent, while London's FTSE 100 index was down 0.3 percent in value.
In the eurozone, the Paris CAC 40 benchmark stocks index sank 0.4 percent and Frankfurt's DAX shed 0.1 percent, while London's FTSE 100 index was down 0.3 percent in value.
Sensex Today | Stock Market LIVE Updates | BUZZING! Paytm shares surge 8%
Sensex Today | PC Jewellers shares hit 10% upper circuit on PNB approval for one-time settlement of dues
PC Jewellers stock surged by 10% to Rs 56.2 on Monday on the BSE after receiving approval from Punjab National Bank (PNB) for settling its outstanding dues through a one-time settlement.
Price as on 12.22.04 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Sensex drops 200 points
Sensex Today | Stock Market LIVE Updates | Adani Group stocks tick lower
Price as on 12.11.20 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Top gainers & losers at this hour
Price as on 12.03.48 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Man Industries receives order for offshore line pipesworth Rs 1,850 crores; stock jumps 6%
Price as on 11.46.20 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Edelweiss Financial Services announces Rs 200 crore public issue of secured redeemable Non-Convertible Debentures (NCDs)
Price as on 12.14.58 PM, Click on company names for their live prices.
Sensex Today | L&T wins Rs.10,000- 15,000 crore order to build solar plants in Middle East
Price as on 11.03.44 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Phoenix Mills Q1 Update
- Consumption (i.e. retailer sales) in Q1 FY25 at ~Rs. 3,214 cr, up 25% over Q1 FY24.
- Gross Retail collections stood at ~Rs. 794 cr in Q1 FY25, up ~28% over Q1 FY24.
- Commercial Offices: Strong leasing traction seen in Q1 FY25, with gross leasing of ~1.51 lakh sq. ft. in the currently operational assets at Kurla, Mumbai and Vimannagar, Pune.
- Residential: Sales trajectory has seen good improvement backed by strong demand and faster conversions.
Price as on 10.53.13 AM, Click on company names for their live prices.
Sensex Today | Stock market today: Asian stocks mostly fell, Euro drop on French election outcome
On Monday, Asian stocks generally declined as the Euro weakened following unexpected outcomes in the French election, contrasting with U.S. stocks which reached new highs on Friday, buoyed by favorable job market reports.
The Euro briefly surpassed $1.08 before its gains were restrained by surprising results from the French parliamentary elections.
The Euro briefly surpassed $1.08 before its gains were restrained by surprising results from the French parliamentary elections.
China stocks fall for fifth session as economic, geopolitical woes weigh
Chinese stocks experienced their fifth consecutive session of decline on Monday, as investors awaited potential policy stimulus from upcoming government meetings. The market downturn occurred against the backdrop of a sluggish economic recovery, escalating geopolitical tensions, and growing foreign outflows.
Sensex Today | Stock Market LIVE Updates | Tata Motors shares surged 1.5% in early trade after the company posted a 5% year-on-year growth in JLR factory-level sales in the June quarter.
Price as on 10.08.05 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Nestle India announces dividend of Rs 2.75 per share
Price as on 09.41.39 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Update | Titan share price declined 4% after the company reported weak growth in the jewellery business during the first quarter of FY25, disappointing the street.
Price as on 09.39.50 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | BEL, NHPC among most active stocks in morning trade
Price as on 09.33.16 AM, Click on company names for their live prices.
Rupee rises 5 paise to 83.44 against US dollar in early trade
Sensex Today | Stock Market LIVE Updates | Heatmap: Top Sensex gainers & losers in today's trade
Sensex Today | Stock Market LIVE Updates | Nifty tests 24,300
Sensex Today | Stock Market LIVE Updates | Opening Bell: Sensex falls over 150 points, Nifty tests 24,300; BoB drops 3%, Titan 2%
Sensex Today | Stock Market LIVE Updates: Sensex drops 300 points; Nifty below 24,300 in pre-open trade
Stock Market LIVE Updates: Saurabh Mukherjea gives 3 themes that can create new opportunities for Indian investors
Saurabh Mukherjea, Founder & Chief Investment Officer of Marcellus Investment Managers, a prominent player in portfolio management services (PMS), emphasized three key themes that are shaping new investment opportunities in India.
Stock Market LIVE Updates | Positive Breakout: These 4 stocks cross above their 200 DMAs
On July 5, four stocks in the NSE's list of companies with a market capitalization exceeding Rs 10,000 crore saw their closing prices rise above their 200-day moving averages (DMA).
Brokerage Radar: JPMorgan on Marico
- Overweight with TP of Rs 660
- Q1 revenue ahead of expectations; on track to reach double-digit growth in H2
- Expect pricing growth to turn more favorable in coming quarters as edible oil prices o by normalize
- Expect Value Added Hair Oils (VAHO) growth to turn positive Pin Q2
Stock Market LIVE Updates | Brokerage Radar: CITI On Bank Of Baroda
- Maintain Buy with target price of Rs 300
- Q1FY25 Business Update Growth Moderates Sharply
- Balance Sheet Consolidation, NIM Management Seems The Priority
- Normalization of credit cost seofcould be offset by higher Q1
- seasonality
- Absence of wage revision impact to provide support to broadly stable ROA
Stock Market LIVE Updates | Brokerage Radar: Goldman Sachs On Titan
- Maintain Buy; Cut target price of Rs 3,700 from Rs 3,800
- Q1 revenue update was disappointing
- Jewellery slowdown much sharper than expected
- Key competitor did much better in 1Q, which is a cause for concern
- Titan's jewellery margins also ON likely to be weak
Stock Market LIVE Updates: Sebi likely to act against ‘silent’ PMS firms
Many portfolio management service (PMS) firms' lack of communication has alarmed regulators amid a booming market. According to a senior official from the Securities and Exchange Board of India (Sebi), numerous PMS service providers have been unresponsive to inquiries, complicating regulatory efforts in recent interactions with the industry.
Stock Market LIVE Updates | Brokerage Radar: Investec On Power Utilities
- NHPC - Initiate Buy with TP of Rs 124
- Inox Wind - Initiate Buy with TP of Rs 176
- Kalpataru Projects – Initiate Buy with TP of Rs 1,473
- KEC International - Initiate Buy with TP of Rs 1,002
- JSW Energy – Initiate Hold with TP of Rs 687
- Power demand to remain strong over FY24-FY32
- Onus back on thermal to meet rising demand
- Wind and Transmission space to witness fresh capex on RES play
- 18
- Despite these developments, country could witness peak deficit
Stock Market LIVE Updates | Big movers on D-Street: What should investors do with Raymond, RBL Bank and AstraZeneca India?
The NSE benchmark Nifty extended its gains to close at a new record high for the third consecutive session on Friday, whereas the BSE index Sensex pulled back from its peak, dropping below the 80,000 level.
Euro dips as markets brace for post-election gridlock in France
The euro declined and French bond futures decreased following indications of a hung parliament in French elections, injecting new uncertainty into markets amidst an anticipated period of political deadlock.
During Asian trading, the euro fell by approximately 0.2% to $1.0819, while long-term French bond futures dropped by 20 ticks, leading to an implied yield of 3.13%.
During Asian trading, the euro fell by approximately 0.2% to $1.0819, while long-term French bond futures dropped by 20 ticks, leading to an implied yield of 3.13%.
Sensex Today | Stock Market LIVE Updates | D-Street Recap
Indian markets had yet another excellent week for the bulls, with the benchmark indices maintaining their winning streak for the fifth consecutive week.
Here's how analysts the market pulse:
“Looking forward, market direction will largely be influenced by upcoming earnings reports and discussions on the Union Budget. Global market trends, particularly the robust performance of US markets, will also be closely watched,” said Ajit Mishra – SVP, Research, Religare Broking.
Here's how analysts the market pulse:
“Looking forward, market direction will largely be influenced by upcoming earnings reports and discussions on the Union Budget. Global market trends, particularly the robust performance of US markets, will also be closely watched,” said Ajit Mishra – SVP, Research, Religare Broking.
Oil little changed as investors eye impact of storm Beryl on Texas
Oil prices were little changed as investors eyed energy supply disruption, with the largest ports in Texas shut before Tropical Storm Beryl likely strengthens into a hurricane and makes landfall on Monday.
Brent crude futures inched up 11 cents, or 0.1%, to $86.65 a barrel as at 0042 GMT after closing down 89 cents on Friday.
Brent crude futures inched up 11 cents, or 0.1%, to $86.65 a barrel as at 0042 GMT after closing down 89 cents on Friday.
Sensex Today | Stock Market LIVE Updates | Forex News
- The euro fell 0.2% to $1.0823
- The Japanese yen was little changed at 160.63 per dollar
- The offshore yuan was little changed at 7.2914 per dollar
Sensex Today | Stock Market LIVE Updates | Global Market Update
- S&P 500 futures fell 0.2% as of 9:37 a.m. Tokyo time
- Hang Seng futures fell 0.3%
- Japan’s Topix fell 0.4%
- Australia’s S&P/ASX 200 fell 0.4%
- Euro Stoxx 50 futures were little changed
