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Stock Market highlights, July 31: Sensex adds 285 pts, Nifty settles at 24951; Midcap stocks shine

Stock Market highlights on July 31, 2024: The day belonged to the bulls as 21 out of 30 stocks on the BSE Sensex saw gains of up to 4 per cent

SI Reporter New Delhi
market, stocks, stock market trading, stock market

1 min read Last Updated : Jul 31 2024 | 3:50 PM IST

Key Events

3:50 PM

Tech View :: 'Fresh bull rally to start above 25,000'

On the hourly chart, the index has given a consolidation breakout. The RSI is in a bullish crossover on both the hourly and daily timeframes. A fresh leg of bullishness starts above 25,000, while support is placed at 24,900. If the index falls below this level, it might correct down towards 24,750.

Views by: Rupak De, Senior Technical Analyst, LKP Securities

3:44 PM

Currency Update :: Rupee ends flat

3:41 PM

Broader markets :: SmallCap index snaps winning run

3:40 PM

Sensex Heatmap :: Maruti Suzuki jumps 4% on Q1 beat

>> Net profit for the quarter increased by 47% year-on-year to Rs 3,650 crore

>> Revenue increased by 10% to Rs 35,531 crore

>> Ebitda rose 49.1% to Rs 4,448.3 crore, and Ebitda margin for expanded by nearly 350 basis points to 12.5% 

3:34 PM

Closing Bell :: Nifty ends above 24,950

3:33 PM

Closing Bell :: Sensex ends range-bound session near day's high

3:20 PM

Ambuja Cements' Q1 results: Profit at Rs 789.63 cr; revenue at Rs 8,311 cr

According to ACL, the financial results for the current quarter, preceding quarter and FY24, also include the financial results of Sanghi, which was acquired in August last year. It also has results of ACCPL (Asian Concretes and Cements Pvt Ltd) ), which was acquired by its subsidiary ACC. READ MORE

3:06 PM

HDFC Life, SBI Life stocks rally up to 3% on Gadkari's GST withdrawal plea

Shares of life insurance companies rallied in trade on Wednesday after Union Minister for Road Transport and Highways, Nitin Gadkari, requested Finance Minister Nirmala Sitharaman to remove the 18 per cent goods and services tax (GST) on life and medical insurance premiums. While analysts laud the proposal and see it as a sentimentally positive trigger for related stocks, they suggest investors wait for the Finance Ministry's move on it before taking any investment decision. READ MORE


 

3:02 PM

Pharma shares rally; Suven, Granules, Ajanta, Jubilant surge over 5%

Shares of pharmaceutical companies were in demand on Wednesday on the back of earnings growht; thus leading the BSE Healthcare index hitting to a new high of 40,583, up 1 per cent. Unichem Laboratories, Granules India, Ajanta Pharma, Jubilant Pharmova, Wockhardt, Gland Pharma and SMS Pharmaceuticals were up in the range of 5 per cent to 8 per cent. Lupin, Zydus Lifesciences, Glenmark Pharmaceuticals, Aurobindo Pharma, Torrent Pharmaceuticals and Sun Pharmaceutical Industries were up between 2 per cent and 3 per cent. READ MORE


2:41 PM

M&M share price up 2% after June quarter performance; topline jumps 11%

Automobile giant Mahindra and Mahindra (M&M) shares rose as much as 2 per cent to hit an intraday high of Rs 2,979.90 per share.  The uptick in the stock price came after the company posted a strong set of June quarter (Q1FY25) results. The company’s standalone revenue rose 11.2 per cent year-on-year (Y-o-Y) to Rs 27,132.8 crore in Q1FY25, as opposed to Rs 24,402.9 crore in Q1FY24. READ MORE



2:35 PM

Zee Entertainment stock jumps 6% on Q1 turnaround; posts Rs 118 cr profit

Shares of Zee Entertainment surged 5.8 per cent to a high of Rs 153.45 in intra-day deals on Wednesday after the media company reported a turnaround in the June quarter. At 14:15 PM, Zee Entertainment stock was trading 4.3 per cent higher at Rs 151.30. The counter saw trades of around 15 lakh shares as against the two-week average volume of around 13.39 lakh shares. In comparison, the S&P BSE Sensex was up 0.2 per cent or 184 points at 81,640. READ MORE


2:25 PM

Broader markets :: MidCap index leads the gain

1:50 PM

Titagarh Rail stock down 8% on weak operational performance in June quarter

Shares of Titagarh Rail Systems fell as much as 7.91 per cent to hit an intraday low of Rs 1,548.95 per share on Wednesday, July 31, 2024. The fall in the share price came after the company reported a weak set of numbers on the operations front. READ MORE



 

1:36 PM

KFintech stock up 23% in 6 days post Q1 results; Jefferies retains Buy call

Shares of KFin Technologies (KFintech) hit a new high of Rs 898.75, as they rallied 9 per cent on the BSE in Wednesday’s intra-day trade on the back of three-fold jump in trading volume. In the past six trading sessions, the stock has zoomed 23 per cent after the company reported a strong performance across segments led by new wins, revenue and profitability growth, and expansion in margins. READ MORE 


1:32 PM

ALERT :: Birlasoft falls 3% after June quarter results

Stock market highlights on Wednesday, July 31, 2024: Benchmark equity indices - the BSE Sensex and the NSE Nifty50 - ended Wednesday's session in positive territory. Sensex settled at 81,741, up 285 points or 0.35 per cent, while Nifty50 ended 94 points or 0.38 per cent higher at 24,951.

The day belonged to the bulls as 21 out of 30 stocks on the BSE Sensex saw gains, with Maruti Suzuki India, JSW Steel, Asian Paints, NTPC, and NTPC among others ending up to 4 per cent higher, while Reliance, Mahindra & Mahindra, and Infosys saw marginal declines.

On the NSE, Maruti Suzuki India was the top gainer, rising 3.89 per cent, followed by JSW Steel and HDFC Life Insurance Company, while Britannia and Dr Reddy's Labs saw a decline on the exchange.

In broader indices, the MidCap index led the gains, with the Nifty Midcap 100 index settling at 58,990, up 367 points or 0.63 per cent. On the contrary, select Smallcap stocks ended lower on Wednesday.

Among the sectoral indices, all ended in the green with gains of up to 1.24 per cent, except for PSU Bank, Oil & Gas and Realty.

Topics :MARKET WRAPMarkets Sensex NiftyIndian stock exchangesMARKET LIVEIndian stock marketsBSE NSENSE Nifty50 benchmark indexMARKETS TODAYIndian equity marketsIPOs valuationsIPOsstock market tradingstock market listing

First Published: Jul 31 2024 | 6:51 AM IST

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