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Stock Market Highlights, July 25: Nifty holds 24,400 amid F&O expiry; Axis Bank falls 5%, TaMo up 6%

Stock Market Highlights today, July 25: The BSE Sensex index ended at 80,040, down 109 points. The BSE Midcap, and SmallCap indices closed 0.2 per cent and 0.14 per cent lower, respectively

SI Reporter New Delhi
BSE, NSE, Indian share market, Stock market
(Photo: Bloomberg)

2 min read Last Updated : Jul 25 2024 | 4:09 PM IST

Key Events

4:09 PM

Tech View :: 'Nifty's pullback rally may fizzle around 24500–24550'

Nifty 50
On the daily charts we can observe that after opening gap down it did not witness follow through selling pressure and staged a pullback. We believe that the Index is undergoing a counter trend pullback which can extend towards 24500 – 24550 which coincides with the 61.82 per cent Fibonacci retracement level of the fall. The daily momentum indicator has a negative crossover and thus this rally is likely to fizzle out. Ideally this rally should be sold into.
 
Bank Nifty
Bank Nifty has been leading this fall. Today it achieved our short-term target of 50600 and thereafter consolidated. Considering it has reached a crucial support the fall from hereon may be less intense and can witness a consolidation in the near term. In terms of levels, 50600 – 50400 is a crucial support zone while 51300 – 51600 is the immediate hurdle zone for the Bank Nifty.
 
Views By: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

4:04 PM

Broader View :: 'High valuations likely to prompt a shift towards large-cap stocks'

After a volatile session, the Indian market concluded on a flat note, influenced by lower-than-expected earnings growth from major banks. Global indices also reacted pessimistically due to the disappointing results from top US tech companies. However, the government's commitment to improving consumption and bridging the gap for energy transition in the budget buoyed sectoral sentiments. Despite ongoing enthusiasm from retail investors in the broader market, the current high valuations are likely to prompt a shift towards large-cap stocks.
 
Views by: Vinod Nair, Head of Research, Geojit Financial Services
 

4:00 PM

Currency Check :: Rupee ends 1 paise close to US dollar at 83.705

3:54 PM

Broader markets :: Bankex index falls over 1%

3:49 PM

Sectoral trends :: Indices end mixed; Auto & Pharma index shine, Bank drags

3:43 PM

Sensex Heatmap :: 17 of 30 index stocks end in red

3:41 PM

Closing Bell :: Nifty ends at 24,406

3:32 PM

Closing Bell :: Sensex falls 109 pts

3:30 PM

ALERT :: Hindustan Zinc slips amid report of stake sale by govt

>> A report, quoting DIPAM Secy, said the govt may sell 3-5% stake in HZL

3:27 PM

June quarter results :: Laurus Labs, Mahindra Holidays, PNB Housing in focus

Laurus Labs
>> PAT down 50% YoY to Rs 12.5 crore; Revenue up 1.1% to Rs 1,194.5 crore; Ebitda up 2.5% to Rs 171 crore

>> Laurus Labs shares up 0.25%

Mahindra Holidays
>> Net profit at Rs 5.9 crore vs Rs 0.2 crore YoY; Revenue up at Rs 653 crore vs Rs 614.3 crore YoY; Ebitda at Rs 105.5 crore vs Rs 83.9 crore YoY; Margin at 16.2% vs 13.6% YoY

>> Mahindra Holidays share price is up 1.4%

PNB Housing Finance 
>> Net profit up 25% at Rs 433 crore vs Rs 347.3 crore YoY; Revenue up 6.7% at Rs 1,823 cr vs Rs 1,708 cr YoY

>> PNB Housing share price is up 0.46%

3:13 PM

June quarter results :: Adani Green Energy posts net profit of Rs 629 crore vs Rs 320 crore YoY

3:02 PM

Canara Bank's Q1 net rises 10.5% to Rs 3,905 cr; NII expands 5.7%

While non-interest income rose by 10.38 per cent year-on-year to Rs 5,319 crore, sequentially it rose marginally from Rs 5,217 crore in Q4FY24. Fee-based income was up 16.75 per cent year-on-year to Rs 1,910 crore. Commissions and exchanges rose by 34.2 per cent year-on-year to Rs 353 crore. The recoveries from written-off accounts grew by 45.48 per cent year-on-year to Rs 1,158 crore. However, the treasury income fell by 6.16 per cent to Rs 503 crore. READ MORE

2:52 PM

Sanstar IPO GMP soars ahead of listing on NSE, BSE: What experts predict

The unlisted shares of Sanstar Ltd, a leading Indian manufacturer of maize-based specialty products, are commanding a strong premium ahead of their debut on the BSE and NSE. A high GMP indicates solid listing gains for investors. The scheduled listing date of Sanstar IPO shares is Friday, July 26, 2024. READ MORE

2:40 PM

Sona BLW share price rises 4% post Q1FY25 earnings; check details

Shares of Sona BLW Precision Forgings rose by 4.29 per cent at 716.60 per share on the BSE in Thursday’s intraday trade. This came after the Auto component maker on Wednesday reported a 26.7 per cent year-on-year increase in net profit to Rs 141.9 crore for the first quarter ending June 30, 2024. In the corresponding quarter of the previous fiscal year, the company had reported a net profit of Rs 112 crore. READ MORE

2:25 PM

Dr Reddy's Labs Q1 Preview: Market share loss in products to drag profits

Indian drugmaker, Dr Reddy’s Laboratories is all set to deliver its financial performance for the first quarter of financial year 2024-25 (Q1FY25) on Saturday, July 27, 2024. READ MORE

Closing Bell on Thursday, July 25, 2024: After a steep sell-off seen in the morning deals, benchmarks -- BSE Sensex and NSE Nifty50 -- clocked a steady recovery during the day. The recovery, which was aided by strength in shares of Tata Motors, HDFC Bank, L&T, Sun Pharma, and Kotak Bank, came amid the monthly F&O expiry for the July derivatives series.

The BSE Sensex index ended at 80,040, down 109 points or 0.14 per cent, as it bounced back from an intraday low of 79,478. The Nifty50, too, closed the session at 24,40, down 7 points or 0.03 per cent. It hit an intraday low of 24,211.

Axis Bank (down 5.2 per cent) was the biggest laggard on the benchmark indices, followed by Nestle India, Titan, ICICI Bank, Tata Steel, IndusInd Bank, and ITC. 

The broader markets, too, were volatile through the day, swinging between gains and losses. The BSE Midcap, and SmallCap indices, eventually, closed 0.2 per cent and 0.14 per cent lower, respectively.

Among sectors, the Nifty Metal index fell over 1 per cent, the Nifty Private Bank 0.9 per cent, and the Nifty Bank 0.83 per cent. On the contrary, the Nifty Auto index rallied over 1 per cent. 

Topics :SensexMARKET LIVEMARKET WRAPBSE NSES&P NasdaqDow JonesnikkeiNvidiaTesla IncMarkets Sensex Nifty

First Published: Jul 25 2024 | 7:35 AM IST

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