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Stock Market Highlights, July 3: Sensex rises 545 pts, ends near 80,000; HDFC, Axis Bank gain 2%

Stock Market Highlights on July 3: In the broader markets, the BSE MidCap and the BSE SmallCap index rose 0.86 per cent each.

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

1 min read Last Updated : Jul 03 2024 | 3:52 PM IST

Key Events

3:52 PM

Tech View :: What are the key levels for Bank Nifty?

The Bank Nifty index witnessed strong momentum and surpassed the hurdle of 53,000 on a closing basis. The index is trading in a strong uptrend with higher high and higher low formations on the daily chart. The immediate support now stands at 52,500, and a dip towards this support would be an ideal opportunity to initiate fresh long position.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

3:51 PM

Nifty Outlook :: 'Move above 24,400 could open room for next target of 24,900'

A small negative candle was formed on the daily chart with a gap-up opening (body gap, not a western gap) at the new highs with minor lower shadow. Though this market formation looks like a doji type pattern or a consolidation at new highs, the underlying trend of the market remains positive. Presently, such consolidations or minor dips are eventually resulting in an uptrend continuation pattern.
 
Having reached near to the overhead resistance of around 24,400 levels (1.618% Fibonacci Extension), the market could shift into further consolidations/range bound movement in the short term before showing further upmove in the near term.

A decisive move above 24,400 levels could open the next upside target of 24900 levels (1.786% Fib. Extension) in the coming week. Immediate support is placed at 24,110 levels.  

Views by: Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities 
 
 

3:47 PM

Currency check :: Rupee ends 3 paise higher vs US dollar

3:43 PM

Broader markets :: Mid, SmallCap indices up .86% each

3:42 PM

Sensex Heatmap :: Adani Ports, private banks settle as top large-cap leaders

3:40 PM

Closing Bell :: Nifty ends above 24,250

3:39 PM

Closing Bell :: Sensex surges over 500 pts, settles near 80,000

3:19 PM

ALERT :: Motilal Oswal gets warning from Sebi

Motilal Oswal Financial Services (MOFSL) on Wednesday said it has received an administrative warning from market regulator Sebi following an examination carried out of the stock broking activities of the company. The lapses were with respect to uploading of unique client code (UCC) data of clients on Multi Commodity Exchange of India, the company has disclosed adding that the "authority has warned and advised the company to avoid recurrence." MOFSL said there is no impact on financial, operation or other activities of the company.


3:07 PM

Analysts pick stocks to buy as Sensex hits 80,000; HDFC Bank, ITC top bets

Even as the BSE Sensex index has touched the 80,000-mark for the first time in intraday deals on July 3, analysts believe the ongoing rally has more legs. The up-move, they said, would be driven by sectors such as financials and consumption, which have underperformed over the past few months. READ MORE


2:57 PM

Emcure Pharma IPO subscription status: Issue subscribed 75% so far on Day 1

Emcure Pharmaceuticals subscription status: Pharmaceutical major Emcure Pharma's Rs 1,952-crore initial public offer (IPO) walked past the halfway mark on the first day of the bidding on Wednesday, July 3, 2024. READ MORE


2:48 PM

AMCs look strong but high valuations risk sharper fall in downturns

Given gains in equity prices, it is not surprising that the earnings of asset management companies (AMCs) are growing quicker. The earnings momentum looks set to continue. Good fund performances have thus led to AMC earnings upgrades although valuations are high. READ MORE


2:39 PM

NBFCs' consumer, gold loan sanctions shrink QoQ in Q4 FY24 after RBI action

Loans sanctions by finance companies in consumer credit and gold loan categories shrunk sequentially in the fourth quarter of financial year 2023-24 (Q4 FY24), after the banking regulator cautioned about the pace of such credit expansion. READ MORE


2:27 PM

'Domestic flows will sustain, but will not rise meaningfully from here'

The pockets of the market in which excess exuberance can be seen will undergo a reality check of earnings and valuations, said Gautam Sinha Roy of ICICI Pru Life Insurance. READ MORE

 

2:18 PM

Crisis-hit Paytm woos merchants with health plan at Rs 35 a month

Paytm's health care plan offers merchant partners benefits such as unlimited doctor 'teleconsultation' and in-person doctor visits. READ MORE

2:11 PM

Primary Market Update:: Bansal Wire IPO subscribed 41% on Day 1 so far

Retail portion was subscribed 60 per cent as of 2 PM.


Closing Bell on Wednesday, July 3, 2024: Benchmark indices scaled fresh record highs on Wednesday, in the intraday trade, as financial heavyweights such as HDFC Bank, Axis Bank, Kotak Bank, and State Bank of India marched ahead. 

The BSE Sensex index walked past the 80,000-mark for the first time today, hitting an all-time high of 80,074. It ended at 79,987, up 545 points or 0.69 per cent.

On the NSE, the Nifty50 touched a new record high of 24,307.25, before closing at 24,287, up 163 points or 0.67 per cent.

Kotak Bank, Axis Bank, HDFC Bank, Adani Ports, SBI, IndusInd Bank, Power Grid, JSW Steel, HUL, Bajaj Finance, and ICICI Bank were the top gainers, rising between 1 per cent and 2.4 per cent. 

In the broader markets, the BSE MidCap and the BSE SmallCap index rose 0.86 per cent each. 

Among sectors, the Nifty Private Bank index gained 2 per cent, the Nifty Bank 1.77 per cent, and the Nifty PSU Bank 1 per cent. The Nifty Media index was the only loser, down 0.39 per cent.


Topics :Stock MarketIPOMARKET LIVEMARKET WRAPshare marketMarkets Sensex NiftyMarket newsBSE NSEHDFC Bank shares

First Published: Jul 03 2024 | 7:28 AM IST

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