Stock Market Highlights, July 02: Sensex, Nifty end marginally in red; Infy, L&T shine

Stock Market highlights on Tuesday, July 02, 2024: The BSE Sensex ended 35 points lower at 79,441, after hitting a record high of 79,856. Bank and midcap stocks crumbled under selling pressure.

9:22 AM

Top 5 Nifty Movers & Shakers:: Eicher Motors, IT shares shine; Bajaj Auto, Sun Pharma whine

9:20 AM

Sensex Heatmap:: HCL Tech, TCS top movers; Bajaj Finance slips

9:18 AM

Opening Bell:: Nifty atop 24,200, gains 62 points; new high at 24,236

9:17 AM

Opening Bell:: Sensex opens 350 pts higher, hits new high at 79,855

9:07 AM

ALERT:: Sensex rises 400 pts in pre-open deals; Nifty atop 24,200

The Sensex settled at 79,860 in pre-open trades on Tuesday; the NSE Nifty 50 index quoted at 24,225. 

8:51 AM

Market regulator Sebi directs exchanges, other MIIs to levy same fees

The Securities and Exchange Board of India (Sebi) on Monday directed stock exchanges and other market infrastructure institutions (MIIs) to discontinue with the practice of levying slab-wise fee structures. MIIs will now have to charge uniform fees, irrespective of the size of market participants, essentially the brokers.

Currently, exchanges charge trading members (brokers) a slab-wise fee structure for both cash and derivatives segments. The structure is aimed at incentivising brokers that generate higher turnover. The market regulator said the current structure goes against the principle of equal, fair and transparent access to all market participants. Read more

8:40 AM

Jatin Gedia of ShareKhan recommends buying these two stocks on July 2

SUNTV

Sun TV has witnessed a sharp run up and has been consolidating in a narrowing range since last three weeks. during this consolidation phase it has formed a Triangle pattern on the daily charts. Read more

Illustration: Binay Sinha

8:34 AM

M&A deal value slows 9% to $38 billion in the first half of 2024

The deal value of mergers and acquisitions (M&A) in the first half of calendar 2024, despite the rising stock markets, slowed 9 per cent to $38 billion as against $41.74 billion in the same period of 2023.

The Bloomberg data says this is the lowest since 2017, when it had touched $37.48 billion (see chart). Read more

8:33 AM

Mutual fund investors ease off buying pedal as FPIs make comeback

Mutual funds’ (MFs’) equity buying hit a four-month low in June at Rs 20,359 crore as stocks extended their winning streak from election-day lows, providing fewer opportunities for money managers to bargain hunt.

Positive inflows from foreign portfolio investors (FPIs) after two months and a potential go-slow in net inflows into equity schemes may have contributed to the moderation in MF buying in June. Read more
 

8:12 AM

Stocks to watch on July 2: Patanjali Foods, CSB Bank, DCX Systems, NMDC

Hero MotoCorp: Total June sales rose 15 per cent YoY to 5.03 lakh units. Domestic sales up 16 per cent to 4.91 lakh units. To expand its EV portfolio with new products in the mid and mass segments in CFY. Global business sales up 44 per cent during the June quarter led by expansion of Nepal operations, growth in Columbia and Mexico and increased market penetration in Turkey. Exports in June fell to 12,032 units from 14,236 units last year.

DCX Systems: Gets order worth Rs 1,250 crore from L&T for the manufacture and supply of electronic modules. The order has to be executed over a three-year period.

IOL Chemicals: Gets China's drug regulatory authority NMPA's nod for Fenofibrate, allowing the company to export it to the Chinese market. Fenofibrate is used in the treatment of high cholesterol and triglyceride levels in the blood. Read more

8:07 AM

Allcargo, PVR Inox among top 3 stock picks by Anand Rathi on July 02

Allcargo Logistics 

On a daily scale, Allcargo has formed a bullish alternate bat pattern following a sharp decline of 14 points, which translated into a substantial 19 per cent reduction in its price. This significant drop has been closely monitored, and for the past 3-4 trading sessions, Allcargo has successfully held its support level within the Rs 59-60 range, demonstrating resilience and stability above this crucial level.

PVR Inox  

PVR Inox has recently exhibited two significant technical analysis signals that indicate a potential bullish shift. Firstly, there is a bullish divergence on the weekly Relative Strength Index (RSI) near the 30 level. Read more

8:05 AM

Trading turnover climbs to new record highs in June, shows data

The average daily turnover (ADTV) both for the cash as well as the derivatives segment hit new record highs in June as election-result related volatility created opportunities for trades as well as investors. The ADTV for the cash segment rose 38 per cent month-on-month (MoM) to Rs 1.65 trillion, surpassing the previous record high of Rs 1.28 in February.

After three months of decline, the ADTV for the futures and options (F&O) segment rose 18 per cent MoM to Rs 494.7 trillion, toppling the previous record of Rs 483.2 trillion in February.  Read more

8:04 AM

Hindenburg receives show cause notice from Sebi over Adani issue

US-based short seller Hindenburg Research has said that it received a "show cause" notice from the Securities and Exchange Board of India (Sebi) on June 27 "outlining suspected violations of Indian regulations" and alleged that the regulator came to Adani Group's aid after the January 2023 report was released.

"Our understanding from discussions with sources in the Indian market is that Sebi's surreptitious aid of Adani commenced almost immediately post-publication of our January 2023 report," it said in a blog post on Tuesday. Read more

7:49 AM

Gift Nifty indicates positive start, quoting 50 pts higher than Nifty50 futures

7:47 AM

Asian markets mixed