ITC, HUL, ICICI Bank help lift Sensex 327 pts; Nifty tops 15800; metals dip

CLOSING BELL: The gains in equities coincided with ease in bond yields, where the returns on 10-year government securities fell to a one-month low of 7.35 per cent

CLOSING BELL

Stock market highlights: Equity markets snapped their 3-day losing run to end higher on Monday. The gains in equities coincided with ease in bond yields, where the returns on 10-year government securities fell to a one-month low of 7.35 per cent.

Led by FMCG and financials, the BSE Sensex gained 327 points, or 0.72 per cent, to settle at 53,235. The NSE Nifty50, on the other hand, closed at 15,835, up 83 points or 0.53 per cent.

HUL, Britannia Industries, IndusInd Bank, ITC, Power Grid, and ICICI Bank were the top gainers on the 50-pack index today, up between 2 per cent and 4 per cent. On the flipside, ONGC, Tata Steel, TCS, JSW Steel, and Cipla were the laggards, down up to 4 per cent.

ALSO READ: Markets unlikely to bottom out soon amid recession fears, says Nomura

In the broader markets, the BSE MidCap and SmallCap indices gained 0.8 per cent and 0.6 per cent, respectively. IDFC First Bank, Gujarat Gas, Trent, R Systems International, Jubilant Industries, Automotive Axles, and Alembic were the lead gainers, rallying up to 20 per cent.

Among sectors, the Nifty FMCG advanced 2.6 per cent, while the Nifty Metal slipped over 1 per cent. 

Sectors on radar
Shares of Information technology (IT) companies are likely to be in focus as they set foot to announce quarterly results starting with Tata Consultancy Services (TCS) this week. The Tata-Group IT services and consulting major - TCS is scheduled to announce its results on Friday, July 08. READ MORE

IndiGo's latest flight delay fiasco suggests the Indian aviation sector could be on the cusp of "the most competitive and hostile environment", fear analysts. With three new players - Air India under its new management, Rakesh Jhunjhunwala's Akasa and Jet Airways that is trying to find wings again – vying for pilots and cabin crew staff, incumbent players are set to witness ballooning employee costs along with elevated margin pressure, they said. READ MORE

Global cues

European stocks climbed on Monday with the pan-European Stoxx 600 index adding 0.6 per cent. In Asia, Japan's Nikkei added 0.8 per cent, and South Korea's Kospi fell 0.22 per cent. Meanwhile, European markets are closed today on account of Independence day holiday. 

    

4:06 PM

Nifty tech view: Index forms bullish candle on daily chart

Technically Nifty has formed a bullish candle on the daily chart, as it closed above 15800, an important psychological level. 

The overall structure shows that the index is likely to witness consolidation in the range of 15,700-15,970 in the coming sessions.

Once it sustains 16000 levels, we can expect a rally till 16200 levels.

Indicators such as RSI and MACD are showing some strength to lead towards upside in the daily chart.

The Nifty may find support around 15700 followed by 15640 levels, while on the upside, 16000 followed by 16100 may act as an immediate hurdle.

Views by Om Mehra, Choice Broking. 

Photo: Bloomberg

4:02 PM

Closing view: Changing investor preference from growth to value stocks clearly visible

With support from banking stocks, the domestic market recouped its opening gains as provisional business data for Q1 indicated a strong credit growth.

Changing investor preference from growth to value stocks is clearly visible, resulting in selling across sectors like IT.

As we step towards the new earnings season, the prime focus of the market will turn towards quarterly numbers and updated guidance for the new financial year.

Views by Vinod Nair, Head of Research at Geojit Financial Services.

 

3:58 PM

Rupee gains 10 paise to close at 78.95/$

Photo: Bloomberg

3:56 PM

Tata Power edges 2% up; co to set up solar unit in Tamil Nadu

 

3:54 PM

Steel strips Wheels rises 3%; to consider stock split

 

3:52 PM

Birlasoft sheds 1.5%; co fixes July 15 as record date for buyback entitlement

 

3:49 PM

Avenue Supermarts gains 3% on reporting 2-fold rise in Q1FY23 revenue

 

3:47 PM

Market closes with positive breadth; advance-decline ratio at 1.5:1

 

3:45 PM

Metals top sectoral drag; IT, auto, pharma other laggards; financials up

 

3:41 PM

MidCaps outperform broader market peers and benchmarks

 

3:40 PM

Nifty losers: ONGC extends Friday's slide; TCS, Cipla, steel majors slump

 

3:38 PM

Nifty top winners: Britannia additional FMCG gainer; banks aid upmove

 

3:36 PM

Sensex heatmap: Six of 30 shares sink; HUL, ITC drive gains

 

3:35 PM

Closing Bell: Nifty50 reclaims 15,800-mark; 34 shares close in green

 

3:33 PM

Closing Bell: Sensex manages to pull gains in Monday's choppy session; up 327 pts