Indices snap 4-day losing run; Sensex up 166 pts; small-caps outperform

Sectorally, the Nifty Pharma index was the top gainer, up 0.6 per cent, followed by the Nifty Bank index, up 0.4 per cent

5:46 PM

TECH VIEW :: Nagaraj Shetti, Technical Research Analyst at HDFC Securities

The bulls seems to have come back gradually from the lower support on Friday. Confirmation of bullish reversal by the way of follow-through upmove is likely to open further upside towards 15900 levels again in the near term. Immediate support is placed at 15650 levels.

5:28 PM

MARKET OUTLOOK :: Events that will guide the indices next week

Large and mid cap IT companies will remain in focus the next week as Q1 FY22 result season commences in India. USA’s IT services companies registered exemplary earnings performance with upward revision in their outlook propelled by strong tailwinds. Hence, in a similar fashion, IT stocks in India have been witnessing a strong push over healthy earnings expectations. Investors are therefore advised to look for any short pullbacks post earnings as an opportunity to enter the IT sector. Nifty50 closed the week at 15722.2, down by 0.87%.

Views by: Nirali Shah, Head of Equity Research, Samco Securities

 

5:15 PM

MARKET VIEW :: Volume surge in the markets is awaited for the uprun to sustain

Indian benchmark equity indices broke a four day losing streak on Jul 02 and ended mildly in the positive. The Nifty opened up, fell initially to make an intraday bottom and later kept rising gradually through the day. It closed almost at the intra day high. At close, the Nifty was up 42.20 points or 0.27% at 15722.20.

 

Volumes on the NSE were higher than the previous day but short of the recent averages. Among sectors, Consumer Durables, Healthcare and Energy were the main gainers while Power and Metals were the main losers. The BSE midcap ended flat, while smallcap index added 1 percent.

 

Nifty gained after a four day fall. On daily charts it has formed a bullish hanging man after a fall. For the week, the Nifty ended 0.87% lower after forming a new high early in the week. Advance decline ratio has improved and volume surge in the markets is awaited for the uprun to sustain/gain momentum. In the near term, 15635 could be a support for Nifty while 15772 could be a resistance. Over the next week, the band for Nifty could be 15839-15505. 

Views by: Deepak Jasani, Head of Retail Research, HDFC Securities

5:04 PM

MARKET VIEW :: Banking space needs to come out of the slumber

We managed to hold crucial support of 15,650. As long as 15,650 – 15,450 are being held, the bulls have no reason to worry for. On the upside, reaching the new milestone of 16,000 has become challenging and the market clearly seem to be waiting for some sort of trigger to reach there. Before this, 15,800 followed by 15900 are to be seen as immediate hurdles.

 

With Friday’s some positivity, the hopes have certainly built for benchmark index to head higher towards the millstone in the forthcoming week. But we reiterate, if that has to happen, the banking space certainly needs to come out of its slumber phase. Let’s see how things pan out going ahead and till then it’s better to keep a close tab of all the mentioned levels.

Views by: Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking

4:53 PM

TECH VIEW :: Sumeet Bagadia, Executive Director at Choice Broking

Technically, the Nifty index has taken good support at Lower Bollinger Band formation and pulled back further. Moreover, the stochastic has indicated positive bias although the MACD is still showing some weakness with negative crossover. On an hourly chart, the index has moved above the 21 HMA & also formed like Rounding Bottom, which points to further recovery for the near term. At present, the nifty seems to have resistance at 15915 levels while immediate support comes at 15600.

4:41 PM

TECH VIEW :: Nifty forms bearish candle on weekly chart

Nifty index closed at 15,722 with mild gains and formed a hammer sort of candle pattern after consecutive four bearish candles.

On the weekly chart, the index has formed a bearish candle with loss of nearly one per cent.

The index has showed some bounce from its demand zone of 15,600-15,500, which will be act as immediate supports for next few sessions.

Dips will be suggested around said levels while resistance is seen near 15,800-15,900 zone.

Views by: Rohit Singre, Senior Technical Analyst at LKP Securities

4:25 PM

MARKET RECAP :: Vinod Nair, Head of Research at Geojit Financial Services

Amid lack of domestic triggers, main indices traded flattish and ended with minor gains, while broad market maintained its optimism driven by Mid & Small caps. Domestic banking stocks gained although RBI in its Financial Stability Report indicates that Gross NPA percentage could climb to a baseline of 9.8% by March 2022. The rapid increase of covid cases globally is having an effect on the international market. Also on the global front, bourses are closely awaiting the release of the US job data to take clues regarding the US Fed’s monetary policy stance.

4:13 PM

Markets this week :: Top losers on NSE

>> Shree Cement: 5.84%

>> Bajaj Finserv: 5.77%

>> Britannia: 3.4%

>> UltraTech Cement: 3%

>> IOC: 2.6%

4:03 PM

Markets this week :: Top gainers on NSE

>> Divis Labs: 6.5%

>> Dr Reddy's Labs: 4.7%

>> Cipla: 2.2%

>> Tata Motors: 1.55%

>> HUL: 1.48%

3:56 PM

Markets this week

Sensex & Nifty slip neatly 1% each during the week

 

Midcap Index gains for second straight week, up 0.5% 

 

3:52 PM

Sector of the day :: Metal stocks decline; Adani Ent, Tata Steel top laggards

3:50 PM

Sector of the day :: 7 of 10 index constituents end higher

3:49 PM

NSE Snapshot :: Top Nifty50 gainers of the day

3:48 PM

Index contributors :: These heavyweights lifted Sensex from lows

3:46 PM

Broader market :: BSE MidCap index closes up 0.05%

3:45 PM

Broader market :: BSE SmallCap index advances 1%

3:43 PM

Sectoral trends on the NSE :: Pharma win on a volatile day; metals lag

3:40 PM

Sensex Heatmap at Close

Top gainers: RIL, ICICI Bank, SBI

Top losers: Tata Steel, Power Grid, Asian Paints

3:36 PM

CLOSING BELL :: Indices snap 4-day losing run

The S&P BSE Sensex closed with gains of 166 points, or 0.32 per cent, at 52,485 levels while the NSE's Nifty50 settled at 15,722 levels, up 42 points or 0.27 per cent.

3:30 PM

IOB surpasses PNB, BoB to become the second most-valued listed PSB

Indian Overseas Bank (IOB), on Friday, became the second most-valued listed public sector banks with a market-capitalisation of over Rs 50,000 crore.

 

As Street discounts privatisation of the state-owned lender, its shares have appreciated over 50 per cent on the BSE in the past one month. Effectively, the bank's m-cap has crossed Rs 50,000 crore-mark, surpassing its peers Punjab National Bank (PNB) and Bank of Baroda (BOB) in m-cap ranking. READ MORE

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3:16 PM

Top gainers on BSE at this hour

Company	PRICE(rs)	CHG(%)
Route Mobile	2097.00	18.37
Indoco Remedies	481.05	14.81
J B Chem & Pharm	1873.75	10.86
HFCL	73.20	9.91
Vinati Organics	2035.00	9.37

3:04 PM

Gold ticks higher as virus fears boost appeal; focus on US jobs data

Gold inched up on Friday, as concerns over the spread of the coronavirus' Delta variant boosted bullion's appeal, while investors awaited U.S. non-farm payrolls data as it might influence the timing of a shift in the Federal Reserve's policy stance.

 

Spot gold rose 0.1% to $1,778.52 per ounce, by 0535 GMT. It has fallen 0.1% so far this week. U.S. gold futures added 0.1% to $1,778. READ MORE

2:57 PM

Top Sensex contributors at this hour

2:46 PM

OPEC+ seeks oil policy consensus as United Arab Emirates demands changes

An OPEC+ deal to release more oil to the market and extend its supply management policy to the end of 2022 hinges on agreement from the United Arab Emirates (UAE), which has opposed the deal and pushed talks into a second day, OPEC+ sources said. The UAE on Thursday effectively blocked a deal agreed by top producers Saudi Arabia and Russia to ease oil cuts by 2 million barrels per day (bpd) by the end of 2021 and extend the remaining cuts to December 2022 from April 2022. READ MORE

2:32 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

2:27 PM

Zydus gets USFDA nod to market generic HIV infection treatment tablets

Drug firm Zydus Cadila on Friday said it has received approval from the US health regulator to market generic Emtricitabine and Tenofovir Disoproxil Fumarate tablets used for treatment of HIV infection. The company has received final approval from the United States Food and Drug Administration (USFDA) to market Emtricitabine and Tenofovir Disoproxil Fumarate tablets, 100 mg/150 mg, 133 mg/200 mg and 167 mg/250 mg, Zydus Cadila said in a statement. READ MORE

2:20 PM

Airtel launches all-in-one plan for mobile, broadband, DTH services

Telecom major Bharti Airtel on Friday launched a new all-in-one bundle plan 'Airtel Black' including DTH, postpaid and fiber with a single bill facility. There are four new fixed-bundle plans under the 'Airtel Black' banner priced from Rs 998 per month to Rs 2,099 per month. The Rs 2,099 per month all-in-one plan offers 3 mobile connections, 1 fiber connection and 1 DTH connection. The Rs 1,598 per month plan offers 2 mobile connections and 1 fiber connection. READ MORE

2:09 PM

Alicon Castalloy zooms 30% in 2 days as MFs pick stake via QIP issue

Shares of Alicon Castalloy were locked in the 20 per cent upper circuit band, at Rs 761.75, on the BSE on Friday, having zoomed 30 per cent in two trading days, after the company said mutual funds bought nearly 10 per cent stake in the auto parts & equipment firm in qualified institutional placement (QIP) issue. READ MORE

1:58 PM

Mindtree completes acquisition of the NxT Digital Business from L&T

Mindtree on Friday said it has completed acquisition of the NxT Digital Business from Larsen and Toubro (L&T). In May this year, Mindtree had announced it will acquire the NxT Digital Business from Larsen and Toubro (L&T) for Rs 198 crore, a move that will enable the mid-sized IT firm to capture opportunities in the Internet of Things (IoT) and Industry 4.0 space. READ MORE

1:51 PM

Recovery from intra-day lows in today's session

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
Indoco Remedies	413.30	490.00	483.60	17.01
Route Mobile	1785.20	2044.50	2014.95	12.87
Adani Power	102.45	111.60	111.60	8.93
HFCL	66.55	73.20	72.05	8.26