Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Monday’s session in green. The NSE Nifty 50 surged 80.30 points or 0.41% to 19,597.30 and BSE Sensex soared 232.23 points or 0.35% to 65,953.48. In sectoral indices, Bank Nifty dipped 42 points or 0.09% to 44,837.50, Nifty PSU Bank tumbled 0.60% while Nifty Auto rose 0.41%, Nifty IT jumped 1.13%, Nifty Pharma soared 1.56% and Nifty Realty gained 0.58%. The top gainers on Nifty 50 were Divis Laboratories, Mahindra & Mahindra, SBI Life, Sun Pharma and LTIM while the losers were Britannia, Bajaj Auto, SBIN, Tata Motors and Axis Bank.
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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
16:09 (IST) 7 Aug 2023 Where is share market headed after Nifty ends near 19600, Bank Nifty below 44840
Benchmark indices NSE Nifty 50 and BSE Sensex ended Monday’s session in green. “The Indian market began the data-centric week with modest gains, primarily propelled by strong performances in the pharma and IT sectors. Global markets portrayed a mixed picture, with US futures exhibiting positivity in response to a moderation in bond yields, while European markets experienced declines due to weak economic data. Caution prevailed in the market due to the anticipation of upcoming inflation data and the RBI’s monetary policy,” said Vinod Nair, Head of Research at Geojit Financial Services.
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15:35 (IST) 7 Aug 2023 Nifty, Sensex end in green
The NSE Nifty 50 gained 80.30 points or 0.41% to 19,597.30 and BSE Sensex rose 232.23 points or 0.35% to 65,953.48.
15:14 (IST) 7 Aug 2023 US bond yield surge forces foreign investors to shun India stocks; FIIs turn sellers after 5 months of buying
Foreign Institutional Investors (FIIs) withdrew over Rs 2,800 crore from the Indian equities market in the first week of August, signaling a trend reversal, following consistent buying over the past five months. Experts attribute this to the rising US bond yields and the subsequent upward surge of the US Dollar, deterring FIIs from further investment. FIIs’ net investments for the current year were Rs 1,997.70 crore in March, Rs 5,711.80 crore in April, Rs 27,856 crore in May, Rs 27,250.02 crore in June, and Rs 13,922.01 crore in July. However, they offloaded equities worth net Rs 2,844.47 crore for the month till August 4, 2023.
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14:10 (IST) 7 Aug 2023 Dabur India stock gains nearly 7% on sharp recovery in Q1FY24
Dabur India’s stock has jumped nearly 6% since the announcement of fiscal first quarter results, late last week. On Friday, it rose nearly 7% to Rs 570 as the Q1FY24 revenue growth of the company stood at 10.9%, led by 8% growth in the India business. Badshah Masala, acquired by Dabur India grew 22% in Q1FY24 and is expected to produce revenue of Rs 5 billion. Owing to the double-digit growth in HPC and healthcare, Dabur’s revenue grew by 11% on-year. Dabur’s share price has jumped nearly 5% in the last six months and over 1% year to-date. Centrum has recommended a ‘Buy’ rating on Dabur stock, whereas HDFC Securities and ICICI Securities have recommended an ‘Add’ rating.
Should you buy, sell or hold?
14:05 (IST) 7 Aug 2023 Oil prices rally as market wakes up to fundamentals; recession fears ebb, supply seen tightening
After remaining range-bound for much of the second quarter, oil prices have mounted a significant rally, oil markets are finally waking up to the fact that fundamentals have tightened significantly. Crude oil prices posted a sixth straight week of gains on the back of a tighter market and easing recession fears. The recent rally is backed by fundamentals and what the market is anticipating is that there will be supply tightness going forward.
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14:04 (IST) 7 Aug 2023 Monthly inflow from FIIs now negative after consistent flow for 5 months; midcaps outperform Nifty 50
After experiencing consistent positive flow for 5 consecutive months, the monthly inflow from FIIs has now become negative. FII net flow has been negative for 11 consecutive days, taking it to the lowest point since the final week of April. The weekly net flow of FIIs, amounting to Rs 3545.6 crore, has dropped by 15% compared to the previous week. FII’s long positions in index futures meanwhile have dipped to 43.9%, when compared to the 30 day average of 63.8%.
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14:03 (IST) 7 Aug 2023 Volume Gainers
Mahindra EPC Irrigation, Pansari Developers, Patel Integrated Logistics, The Motor & General Finance, Vindhya Telelinks, Ethos, Universal Cables, ITI, Surana Telecom & Power, Sahyadri Industries and Morepen Laboratories were among the volume gainers.
14:03 (IST) 7 Aug 2023 Stocks at 52-Week Lows
Rajesh Exports, Vedanat, Yatharth Hospital & Trauma Care Services, Ankit Metal & Power, Bkm Industries, Brooks Lab, CMI, JBF Industries, Sintex Plastics Technology, Shekhawati Poly-Yarn, Vaxtex Cotfab and Vinny Overseas were among 15 stocks that hit 52-week lows today.
14:03 (IST) 7 Aug 2023 Stocks at 52-Week Highs
Sanofi India, Linde India, Info Edge (India), PTC Industries, Voltamp Transformers, Alkem Laboratories, Neuland Laboratories, Kirloskar Industries, V.S.T Tillers Tractors, Kingfa Science & Technology (India), Mtar Technologies, Vindhya Telelinks, NGL Fine-Chem, Grasim Industries, KDDL, PG Electroplast, Cyient, Ethos, C.E. Info Systems, Centum Electronics, Pix Transmissions, Venus Pipes & Tubes, Anand Rathi Wealth, Jash Engineering, RPG Life Sciences, KPIT Technologies, ADF Foods, Lupin, Everest Industries, Caplin Point Laboratories, Mrs. Bectors Food Specialities, Aurobindo Pharma, Kirloskar Brothers, Syngene International, PSP Projects, Albert David, Alembic Pharmaceuticals, Nesco, Kewal Kiran Clothing, Gravita India, Pearl Global Industries, Lloyds Metals And Energy, Zen Technologies, Zydus Lifesciences, Kaveri Seed Company, Ramkrishna Forgings, Dynamic Cables, Steelcast, Ice Make Refrigeration, Universal Cables, Sudarshan Chemical Industries, Sundaram Brake Linings, Ramky Infrastructure, IFGL Refractories, Pondy Oxides & Chemicals, Rategain Travel Technologies, Mstc, Heubach Colorants India, Graphite India, BIRLASOFT, Sahyadri Industries, Poonawalla Fincorp, Lumax Auto Technologies, Welspun Investments and Commercials, NINtec Systems, Sterling and Wilson Renewable Energy, JTL Industries, Repco Home Finance, Marathon Nextgen Realty, Sakar Healthcare, Advanced Enzyme Technologies, Yatharth Hospital & Trauma Care Services, D-Link (India), Hind Rectifiers, SMS Pharmaceuticals, CSB Bank, Indian Hume Pipe Company, E2E Networks, Ugro Capital, Crest Ventures, GE T&D India, Power Finance Corporation, NRB Bearing, Nath Bio-Genes (India), HBL Power Systems, Bajaj Consumer Care, Birla Cable, Black Box, Responsive Industries, Reliance Infrastructure, REC, Chaman Lal Setia Exports, Ashapura Minechem, Shalby, Jai Balaji Industries, Religare Enterprises, GE Power India, Star Cement, Orient Cement, Balmer Lawrie & Company, Himadri Speciality Chemical, Castrol India, Agri-Tech (India), Indraprastha Medical Corporation, Sarveshwar Foods, Hindprakash Industries, Mahindra EPC Irrigation, SMS Pharmaceuticals, Welspun India, Sat Industries, Robust Hotels, Sanghi Industries, Sah Polymers, Ircon International, Zomato, Thomas Cook (India), Tourism Finance Corporation of India, TARC, and Marine Electricals (India) were among the 148 stocks that hit 52-week highs today.
14:02 (IST) 7 Aug 2023 Zomato, M&M, SBI, Adani Green among most active stocks
Zomato, HDFC Bank, Mahindra & Mahindra, State Bank of India, Indian Railway Finance Corporation, ICICI Bank, Paytm, Adani Green Energy, Rural Electrification Corporation, Yatharth, Adani Enterprises, and Dixon Technologies were among the most active stocks on the NSE.
14:02 (IST) 7 Aug 2023 Bank Nifty, Auto, IT jump; FMCG falls
In sectoral indices, Bank Nifty rose 51.40 points or 0.11% to 44,930.90, Nifty Auto gained 0.27%, Nifty IT jumped 0.69% while Nifty FMCG fell 0.15%.
13:27 (IST) 7 Aug 2023 Mahindra & Mahindra shares jump 3.7% today after Q1 earnings beat estimates
Mahindra & Mahindra share price jumped 3.7% to Rs 1,519.75 today after the automaker’s net profit zoomed 98% to Rs 2,774 crore on-year in Q1FY24, compared to Rs 1,404 crore in the year-ago period. Revenue from operations in the quarter ended June, rose 22% on-year to Rs 24,056 crore. M&M’s MD & CEO Anish Shah in a press conference clarified the company’s investment in RBL Bank. “RBL Bank investment is for us to understand banking in greater detail. At this stage, we will not raise further stake in RBL Bank.” Last month, M&M acquired a 3.53% stake in RBL Bank for Rs 417 crore. The majority of brokerages have recommended a ‘Buy’ rating on the stock. M&M stock has fallen 3% in the last one month while it has gained 22% in the past one year.
Should you buy or sell M&M stock?
11:58 (IST) 7 Aug 2023 Dollar gains more than expected, Euro, Pound under pressure; rupee could face volatility on RBI commentary
Rupee at the start of the week consolidated in a narrow range and volatility remained low as investors remained cautious ahead of the important numbers that were expected to be released on the global front. On the domestic front, India’s fiscal balance number was released and data showed the deficit stood at Rs 4.51 lakh crore, or 25.3% of annual estimates. Total expenditure amounted to Rs 10.5 lakh crore during April-June 2023, which was 23.3% of the Budget Estimate.
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11:45 (IST) 7 Aug 2023 India Shelter Finance files draft papers for Rs 1,800 crore IPO with Sebi
India Shelter Finance, a company specializing in affordable housing finance, has initiated the process of going public by submitting preliminary documents to Sebi, the capital markets regulator. The proposed initial public offering (IPO) aims to raise a total of Rs 1,800 crore. The IPO structure includes a fresh issuance of equity shares valued at Rs 1,000 crore, along with a Rs 800 crore offer for sale (OFS) by existing investor shareholders. This information was outlined in the draft red herring prospectus (DRHP) that was officially lodged on Friday.
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11:11 (IST) 7 Aug 2023 Bank of Baroda shares gain 1% after net profit nearly doubles in Q1
Bank of Baroda share price rose nearly 1% to Rs 193.20 today after the bank’s net profit jumped 87.7% to Rs 4,070 crore on-year in Q1FY24, compared to Rs 2,168 crore in the year-ago period. The net interest income (NII) grew by 24% on-year to Rs 10,997 crore in the April-June quarter while the global net interest margin (NIM) for the said quarter stood at 3.27%, up 25 bps on-year. The domestic NIM rose 34 bps on-year to 3.41% in Q1. Brokerages have mostly recommended a ‘Buy’ rating on the stock. BoB shares have fallen over 8% in the last one month and have gained 62% in the past one year.
Should you buy, sell or hold BoB stock?
10:19 (IST) 7 Aug 2023 Britannia stock tanks 2% today after Q1 earnings miss estimates
Britannia Industries share price tanked 2% to Rs 4,702.60 today after the company posted its fiscal first-quarter profit at Rs 455.45 crore, up 35.7% in comparison to Rs 335.74 crore during the corresponding quarter of FY23, missing estimates. Its revenue from operations stood at Rs 4,010.70 crore, up 8.4% as against Rs 3,700.96 crore during the same period last year. Analysts at Nuvama and ICICI Securities have recommended ‘Buy’ and ‘Add ratings on the stock, respectively. Britannia shares have fallen over 7% in the last one month and have risen 27% in the past one year.
Should you buy, sell or hold Britannia shares?
09:21 (IST) 7 Aug 2023 Nifty, Sensex open in green
The NSE Nifty 50 rose 53.90 points or 0.28% to 19,570.90 ad BSE Sensex soared 151.68 points or 0.23% to 65,872.93.
09:13 (IST) 7 Aug 2023 Nifty, Sensex jump in pre-open
Domestic indices ended the pre-opening session in green. The NSE Nifty 50 rose 59.85 or 0.31% to 19,576.85 and BSE Sensex gained 90.15 points or 0.14% to 65,811.40.
09:06 (IST) 7 Aug 2023 Bank Nifty may target 45800-46000 if it closes above 45200
“Bank Nifty’s conclusive break above the 45,200 level, particularly on a closing basis, could initiate further upward movement, potentially targeting levels around 45,800 or even 46,000. On the downside, a support level can be identified at 44,500. Should the index break below this support, the bears could regain control, potentially leading to more downward movements. In terms of the price range, the Bank Nifty index has been fluctuating within the broad range of 44,500-45,200. A breach on either side of this range could signal a shift towards trending movements,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.
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09:06 (IST) 7 Aug 2023 Bank Nifty important support at 44500-44400
“Bank Nifty closed with a neutral candlestick pattern on the daily timeframe after taking support at an important zone of 44,500. The trend for this week can be considered sideways till the time 44,400 and 45,000 zones are broken on either side. Important support zones are at 44,500, 44,400 whereas resistance zones are at 44900, 45000,” said Mitesh Karwa, Research Analyst, Bonanza Portfolio.
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09:06 (IST) 7 Aug 2023 Bank Nifty could retest level of 44300-44000
“After a sharp correction, the Bank Nifty took support near the 50-day SMA and bounced back sharply. For traders, the 50-day SMA or 44,500 would be the sacrosanct support level. Above this, it could rally till 20-day SMA or 45,400-45,500. On the flip side, below 44,500, the uptrend would be vulnerable and below the same, it could retest the level of 44,300-44,000,” said Amol Athawale, Vice President – Technical Research, Kotak Securities.
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09:05 (IST) 7 Aug 2023 Nifty could see pullback rally if it trades above 19400
“We could see promising pullback rallies if Nifty trades above 19,400 and on the further upsurge, it could move up to 19,600 or 20-day SMA. Further upside could lift the market to 19,700. On the flip side, below 19,400 the selling pressure is likely to accelerate. Below, the index could slip to 19,300-19,250,” said Amol Athawale, Vice President – Technical Research, Kotak Securities.
Share Market Outlook Today
09:05 (IST) 7 Aug 2023 Nifty support at 19100-19300
“We expect Nifty to consolidate in a broader range ahead wherein 19,100-19,300 would offer support in case of further decline while a rebound towards the 19,650-19,850 zone would attract profit-taking again,” said Ajit Mishra, SVP – Technical Research, Religare Broking Ltd.
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09:05 (IST) 7 Aug 2023 Nifty may go back to challenge 19400–19300
“Till the time, Nifty does not surpass 19,550–19,600 on a closing basis, one should avoid being complacent and ideally, it’s better to avoid aggressive trades. In case of further global aberration, the Nifty may go back to challenge 19,400–19,300 levels and a move below this would reinforce the selling pressure to slide towards the next important cluster of 19,000–18,800. As far as the optimistic scenario is concerned, a move beyond 19,600 is crucial with global things needing to subside completely,” said Sameet Chavan, Head Research, Technical and Derivatives, Angel One Ltd.
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09:04 (IST) 7 Aug 2023 Nifty’s failure to move above 19566 could trigger selling pressure
“The recent fall has pulled the Nifty below the 21-day exponential moving average (EMA) for the first time since March 29. On an immediate basis, 19,300 has acted as support. However, on the higher end, 19,566 is likely to act as a crucial resistance level. The sentiment is likely to remain weak as long as the Nifty remains below 19,566. However, a decisive move above 19,566 could take the index towards 19,700-19,750. On the other hand, a failure to move above 19,566 could trigger selling pressure,” said Rupak De, Senior Technical Analyst at LKP Securities.
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08:27 (IST) 7 Aug 2023 US indices end in red
The US market ended Friday’s session in red – Dow Jones Industrial Average (DJIA) plunged 0.43%, S&P 500 tanked 0.53% and the tech-heavy Nasdaq sank 0.36%.
08:27 (IST) 7 Aug 2023 Asian markets trade mostly flat
Asian markets were trading flat – China’s Shanghai Composite Index tumbled 0.65%, Japan’s Nikkei 225 dipped 0.13%, Asia Dow fell 0.15% while South Korea’s KOSPI rose 0.05% and Hong Kong’s Hang Seng was up 0.05%.
08:26 (IST) 7 Aug 2023 GIFT Nifty up 23 pts
The GIFT Nifty futures traded 23 points or 0.12% higher at 19,612 in early morning trade.
08:26 (IST) 7 Aug 2023 Nifty to gain or slip under 19400? See GIFT Nifty, FII data, F&O ban, crude, more before market opens
“Positive earnings reports provided a much-needed boost to the domestic market, aiding its recovery from the impact of weak global cues. The pharma sector sustained its positive momentum, with the trend being extended by the IT and banking stocks. However, increasing US bond yields continued to distract the global market, impeding the inflow of foreign funds into the domestic market,” said Vinod Nair, Head of Research at Geojit Financial Services.
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08:25 (IST) 7 Aug 2023 Stocks To Watch: Adani Enterprises, Reliance Industries, BHEL, Britannia, Bank of Baroda, ABFRL, Gland Pharma
The GIFT Nifty traded flat during Monday’s early trading session, up by 0.03% at 19,595, indicating a tepid opening for domestic indices NSE Nifty 50 and BSE Sensex. Benchmark indices NSE Nifty 50 and BSE Sensex snapped their three day losing streak. The Nifty 50 added 135.35 points to close at 19,517. On the other hand, Sensex jumped 0.74% to end at 65,721.25.
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