Sensex adds 529pts, ends near 66,600; Nifty at 19700; SBI up 3%, HDFC Bk 2%

CLOSING BELL on July 17: The benchmark S&P BSE Sensex notched a new high of 66,656 in the intra-day trade, while the Nifty50 hit a new record high of 19,732

Stock market highlights: Benchmark indices witnessed a steady uptrend on Monday, hitting new all-time highs on the way. The benchmark S&P BSE Sensex notched a new high of 66,656 in the intra-day trade, before settling at 66,590, soaring 529 points or 0.8 per cent. 

The Nifty50, too, hit a new record high of 19,732. It, eventually, settled at 19,721, up 157 points or 0.8 per cent.

SBI (up 3 per cent) was the top winner at the bourses, followed by Wipro, Dr.Reddy's Labs, Grasim, HDFC Bank, RIL, IndusInd Bank, Kotak Bank, Adani Enterprises, Tech M, ICICI Bank, Asian Paints, and Maruti Suzuki.

In the broader markets, the BSE MidCap index settled 0.3 per cent up, while the BSE SmallCap index advanced 0.85 per cent. The indices hit new highs of 29,593 and 34,079, respectively.

Among sectors, the Nifty PSU Bank index jumped over 2 per cent, the Nifty Bank index 1.5 per cent, and the Nifty IT index 0.4 per cent.

IPO Update :: Netweb Technologies
The three-day issue of Netweb Tech sailed through and was subscribed 1.65 times till 3:30 PM on day one of the offer. The employee portion was booked 5.6 times, retail portion 2.3 times, NII 2.06 times, and QIB portion 2 per cent. The bidding will close at 5:00 PM.

4:06 PM

COMMENT:: Market rallied on hopes of strong Q1 corporate earnings

"Despite the mixed performance observed in the Asian market due to China's underwhelming GDP data, the Indian market exhibited resilience, in anticipation of a bumper Q1 result. Nifty50 Q1 consolidated PAT is projected to grow by more than 20% YoY, which can upgrade the full year earnings growth of FY24. Small caps outperformed as comparatively valuations are attractive trading below the long-term average compared to large and mid-caps."

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:04 PM

Netweb Tech IPO subscribed 1.7 times on Day 1 so far; here's what brokerages recommend

The company has a fixed price band between Rs 475-Rs 500 per share. The issue will close on Wednesday, July 19. READ MORE

4:01 PM

Avenue Supermarts dips 3% on disappointing June quarter results

The company's consolidated net profit grew mereley by 2.5 per cent to Rs 658.71 crore in April-June 2023 quarter (Q1FY24), as lower sales of apparel and general merchandise impacted margins.  READ MORE

3:58 PM

Angel One cracks 7% as NSE bars onboarding of new authorised persons

Angel One said NSE's order does not affect the existing business or the activities of the APs affiliated with the company. READ MORE

 

3:56 PM

Wipro hits 10-month high; stock surges 7% in two days post Q1 results

For Wipro, the long-term outlook is expected to improve as demand is set to get back on track as well as investment in Automation and Gen AI based products & solutions will aid growth, analyst said. READ MORE

3:55 PM

Lloyds Metals gains 4% on NSE debut; stock up 137% so far in 2023

Since 2021, the stock price of Lloyds Metals has skyrocketed 5,686 per cent to Rs 582.70 from level of Rs 10.07 at the end of December 2020. READ MORE

3:51 PM

Market Breadth was positive; Nearly 2,100 stocks advanced versus 1,600 declining shares on the BSE

3:49 PM

Bank Nifty zooms 1.4%; PNB, SBI lead with 3% gain

3:47 PM

Broader indices gain in tandem with benchmark Nifty 50; VIX rises 6%

3:45 PM

BSE Smallcap Heatmap:: FCS Soft, GTPL soar up to 20%; Datamatics tumbles 19%

3:43 PM

BSE Midcap Heatmap:: Zee Entertainment, Voda Idea lead rally; JSW Energy slips

3:41 PM

Nifty 50 Losers:: Hero MotoCorp, ONGC decline over 1%

3:40 PM

Nifty 50 Gainers:: SBI surges 3%; RIL, HDFC Bank rally 2%

3:37 PM

Sensex 30 Heatmap:: 19 Gainers v/s 11 Losers

3:35 PM

CLOSING BELL:: NSE Nifty50 rallied 147 pts to end at a record high of 19,711