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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.

BSE, NSE, Indian share market, Stock market

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		<strong>Closing Bell on Tuesday, July 02: </strong>Equity benchmark indices ended with marginal losses on Tuesday owing to selling pressure in banking shares.&nbsp;</div>
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		The S&P BSE Sensex hit a new high at 79,856 and was up 380 points at the highest point of the day. The BSE benchmark index, thereafter, slipped into red and touched a low of 79,231. The Sensex finally ended 35 points lower at 79,441.</div>
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		The NSE Nifty 50 index registered a new summit at 24,236, but eventually settled with a loss of 18 points at 24,124.</div>
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		Among the Sensex 30 shares, <a href="https://www.business-standard.com/markets/news/l-t-s-shares-rally-on-reports-of-order-win-worth-4-bn-from-saudi-aramco-124070200487_1.html?1719914380" target="_blank"><strong>Larsen & Toubro gained nearly 3 per cent</strong></a> amid buzz of order win from Saudi Aramco. Infosys, HDFC Bank and TCS were the other major gainers. On the other hand, Bharti Airtel and Kotak Bank over 2 per cent each. IndusInd Bank, SBI, ICICI Bank, Tata Motors, IndusInd Bank and Bajaj Finance were the other major losers.</div>
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		In the broader market, the BSE MidCap index slipped 0.6 per cent, while the SmallCap index added 0.1 per cent. The overall breadth, however, was marginally positive, with over 2,050 stocks advancing as againsst 1,864 declining&nbsp; shares on the BSE.</div>
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Stock Market Highlights, July 02: Sensex, Nifty end marginally in red; Infy, L&T shine

Business Standard

Stock Market Highlights, July 02: Sensex, Nifty end marginally in red; Infy, L&T shine | News on Markets - Business Standard

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Good morning readers! Catch all the market live updates here

BSE SmallCap Heatmap:: GM Breweries, JK Paper soar up to 20%; PGIL, Angel ONE crack 9%

BSE MidCap Heatmap:: Solar Industries zooms 9%, Godrej Properties 5%; Max Health, Voda Idea top losers

Broader market check:: MidCap, SmallCap indices declined up to 0.8%

Sensex Heatmap:: L&T, Infosys, HDFC Bank shine; Bharti Airtel, Tata Motors, SBI whine

Closing Bell: BSE Sensex ends 35 pts lower at 79,441

Bansal Wire IPO opens on July 03; check price band, GMP, should you bid?

Bansal Wire IPO: Steel wire manufacturer Bansal Wire is launching an Initial Public Offering (IPO) valued at Rs 745 crore, which entirely comprises a fresh issue of 29.1 million shares.&nbsp; <a href="https://www.business-standard.com/markets/news/bansal-wire-ipo-opens-on-july-03-check-price-band-gmp-should-you-bid-124070200528_1.html?1719912015" target="_blank"><strong>READ MORE</strong></a><br />
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Banks under pressure; ICICI, IndusInd, BOB, IDFC First down up to 3%

ICICI Bank, IndusInd Bank, IDFC First Bank, Bandhan Bank and Federal Bank from the private sector and Bank of Baroda PNB and SBI from the public sector slipped in the range of 1 per cent to 3 per cent. <a href="https://www.business-standard.com/markets/news/banks-under-pressure-icici-indusind-bob-idfc-first-down-up-to-3-124070200555_1.html?1719912924" target="_blank"><strong>READ MORE</strong></a><br />
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CDSL shares fall after announcing 1:1 bonus issue of equity shares

Shares of Central Depository Services Limited (CDSL) fell 2.8 per cent at Rs 2,368 per share on the NSE in Tuesday&#39;s intraday trade. This came after the company recommended issuing bonus shares. <a href="https://www.business-standard.com/markets/news/cdsl-shares-fall-post-announcement-of-1-1-bonus-issue-of-equity-shares-124070200531_1.html?1719911860" target="_blank"><strong>READ MORE</strong></a><br />
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L&T's shares rally on reports of order win worth $4 bn from Saudi Aramco

On Tuesday, the shares of Larsen Toubro soared up to 3 per cent at Rs 3,634 per share on the BSE in intraday trade. According to reports, the construction major bagged a mega work orders worth Rs 30,000 crore or $4 billion from Saudi Aramco. <a href="https://www.business-standard.com/markets/news/l-t-s-shares-rally-on-reports-of-order-win-worth-4-bn-from-saudi-aramco-124070200487_1.html?1719909823" target="_blank"><strong>READ MORE</strong></a><br />
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HDFC Bank up 2%, nears record high; stock up 19% from June low

The stock hit high of Rs 1,734.90 in intra-day deals on Tuesday, and was seen inching towards its record high of Rs 1,757.80 touched on July 3, 2023. <a href="https://www.business-standard.com/markets/news/hdfc-bank-up-2-nears-record-high-stock-up-19-from-june-low-124070200465_1.html?1719909072" target="_blank"><strong>READ MORE</strong></a><br />
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'Discount broking space getting overcrowded; Sensex can hit 100,000'

Globally, growing number of parliamentarians are worried about legitimised gambling via stock exchanges which has social and financial implications, said CJ George, founder &amp; MD, Geojit Financial. <a href="https://www.business-standard.com/markets/news/discount-broker-sensex-at-100-000-ipo-algo-traders-sebi-top-pms-schemes-india-income-tax-rate-124070200108_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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ALERT:: Bank Nifty falls 1%; weakness seen across private and psu banks

CSB Bank stock up 7% on steady growth in advances, total deposits in Q1FY25

Shares of CSB Bank soared up to&nbsp; 7.2 per cent at Rs 402 per share on the BSE in Tuesday&rsquo;s intraday trade. The stock price jump came after the private bank reported a 17.8 per cent year on year growth in gross advances to Rs 25,099 crore for the first quarter of fiscal year 2024-25 (Q1FY25).&nbsp; <a href="https://www.business-standard.com/markets/news/csb-bank-stock-up-7-on-steady-growth-in-advances-total-deposits-in-q1fy25-124070200394_1.html?1719904913" target="_blank"><strong>READ MORE</strong></a><br />
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How to trade Adani stocks amid Hindenburg-Sebi row? Here's what charts say

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	Shares of Adani Group of companies were buzzing in trades on Tuesday, with select stocks rising up to 6 per cent following reports of Sebi slapping &#39;show-cause&#39; notice to Hindenburg Research. <a href="https://www.business-standard.com/markets/news/how-to-trade-adani-stocks-amid-hindenburg-sebi-row-here-s-what-charts-say-124070200371_1.html?1719903634" target="_blank"><strong>READ MORE</strong></a></div>
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Godrej Properties jumps 5% on upbeat sales in Bengaluru; stock at new high

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	Shares of Godrej Properties (GPL) hit a new high of Rs 3,333, surging 5 per cent on the BSE in Tuesday&rsquo;s intra-day trade after the company said it sold over 2,000 homes worth over Rs 3,150 crore in its project, Godrej Woodscapes, located in Whitefield-Budigere Cross, Bengaluru. <a href="https://www.business-standard.com/markets/news/godrej-properties-jumps-5-on-upbeat-sales-in-bengaluru-stock-at-new-high-124070200338_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Pennar Industries hits 52-week high on establishing plant in Rae Bareli

Shares of Pennar Industries were buzzing in trade on Tuesday. The stock rallied as much as 10.15 per cent to hit a fresh 52-week high of Rs 191.50 per share on Bombay Stock Exchange (BSE). <a href="https://www.business-standard.com/markets/news/pennar-industries-hits-52-week-high-on-establishing-plant-in-rae-bareli-124070200351_1.html?1719902962" target="_blank"><strong>READ MORE</strong></a><br />
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Godrej's Bengaluru launch sells over 2,000 homes, nets Rs 3,150 crore

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	Godrej Properties Ltd on Tuesday announced a milestone with its latest project, Godrej Woodscapes, located in Whitefield-Budigere Cross, Bengaluru. The company announced on Tuesday that it has sold over 2,000 homes, generating Rs 3,150 crore, marking the most successful launch in its history in terms of both value and volume. <a href="https://www.business-standard.com/companies/news/godrej-s-bengaluru-launch-sells-over-2-000-homes-nets-rs-3-150-crore-124070200320_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Apple exceeds India's PLI scheme targets, lags in value addition

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	Technology major Apple, the poster boy of India&rsquo;s production-linked incentive (PLI) scheme, has exceeded its targets on five of the six parameters that the government monitors. <a href="https://www.business-standard.com/companies/news/apple-exceeds-india-s-pli-scheme-targets-lags-in-value-addition-124070101244_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Divine Power Energy makes stellar mkt debut, lists at 288% premium on NSE

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	Divine Power Energy Ltd (DPEL) made a stellar debut on the NSE Emerge platform today, listing at Rs 155 per share, a premium of 288 per cent over issue price of Rs 40. <a href="https://www.business-standard.com/markets/news/divine-power-energy-makes-powerful-debut-lists-at-288-premium-on-nse-124070200311_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Decoded: Hindenburg vs Adani saga raises more questions about short selling

<div>
	Remember the Hindenburg report from last year that accused the Adani Group of wrongdoings? It caused a big stir in the Indian stock market. Now, the short seller, Hindenburg Research, is back in the news, and things are getting heated. <a href="https://www.business-standard.com/finance/personal-finance/decoded-hindenburg-vs-adani-saga-raises-more-questions-about-short-selling-124070200294_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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IOLCP's stock rallies 10% after securing nod for cholesterol drug

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	Shares of IOL Chemicals and Pharmaceuticals (IOLCP) rallied 9.7 per cent at Rs 449 per share on the BSE in Tuesday&rsquo;s intraday trade. The stock price jump came after the company got China&#39;s drug regulatory authority NMPA&#39;s nod for cholesterol drug Fenofibrate, allowing the company to export it to the Chinese market. <a href="https://www.business-standard.com/markets/news/iolcp-s-stock-rallies-10-after-securing-nod-for-cholesterol-drug-124070200265_1.html?1719899503" target="_blank"><strong>READ MORE</strong></a></div>
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This stock has zoomed 200% in 1 year, touched Rs 1 trillion market cap

hares of Solar Industries India (SIIL) hit a new high of Rs 11,186.20, as they rallied 11 per cent on the BSE in Tuesday&rsquo;s intra-day trade on healthy business outlook. The stock of the explosive company has recovered 42 per cent from its previous month low of Rs 7,889.95 touched on June 4. In past one year, the scrip has zoomed 200 per cent from the level of Rs 3,738. <a href="http://illion-market-cap-124070200260_1.html?1719898606" rel="nofollow" target="_blank"><strong>READ MORE</strong></a><br />
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Nomura has high hopes from Infosys, Coforge ahead of Q1FY25 results

Tokyo, Japan-based brokerage Nomura is bullish on the Indian IT sector. Given the bottoming out of revenue growth rate, analysts expect the earnings per share (EPS) downgrade cycle to come to an end for the sector. <a href="https://www.business-standard.com/markets/news/nomura-has-high-hopes-from-infosys-coforge-ahead-of-q1fy25-results-124070200211_1.html" target="_blank"><strong>READ MORE&nbsp;</strong></a><br />
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ISMT share price rallies 4% after Maharashtra solar plant installation

Shares of Indian Seamless Metal Tubes (ISMT) surged as much as 4.14 per cent to hit an intraday high of Rs 136.80 per share on Tuesday. The uptick in share price came after the company announced that it has completed the&nbsp; installation of a 35 MW DC capacity solar plant worth Rs 138 crore at Maharashtra. <a href="https://www.business-standard.com/markets/news/ismt-shares-price-rallies-4-after-maharashtra-solar-plant-installation-124070200198_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Rupee falls 12 paise to 83.56 against US dollar during early trade

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	The rupee depreciated 12 paise to 83.56 against the US dollar in early trade on Tuesday, weighed down by the strengthening of the American currency in the overseas markets and elevated crude oil prices. <a href="https://www.business-standard.com/finance/news/rupee-falls-12-paise-to-83-56-against-us-dollar-during-early-trade-124070200147_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Adani group shares trade mixed as Hindenburg issue resurfaces; AEL down 1%

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	Shares of Adani Group companies were trading on a mixed note on the bourses after the US-based short seller Hindenburg Research said that it received a &quot;show cause&quot; notice from the Securities and Exchange Board of India (Sebi) over the Adani issue. <a href="https://www.business-standard.com/markets/news/adani-group-shares-trade-mixed-as-hindenburg-issue-resurfaces-ael-down-1-124070200179_1.html?1719895453" target="_blank"><strong>READ MORE</strong></a></div>
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Angel ONE, Motilal, IIFL: Charts hint up to 24% downside for broking stocks

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	The Securities and Exchange Board of India (Sebi) on Monday directed stock exchanges and other market infrastructure institutions (MIIs), essentially stock brokers, to discontinue with the practice of levying slab-wise fee structures. <a href="https://www.business-standard.com/markets/news/angel-one-motilal-iifl-charts-hint-up-to-24-downside-for-broking-stocks-124070200145_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Broking stocks fall up to 11% after Sebi directs MIIs to levy uniform fees

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	Broking company stocks were under pressure on Tuesday, July 02, after Securities Exchange Board of India (Sebi) directed Market infrastructure institutions (MIIs), exchanges to levy the same fees.</div>
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	As of 9:30 AM, broking company stocks including Angel One, IIFL Securities, 5Paisa Capital, SMC Global, Motilal Oswal Financial Services and Geojit Financial Services fell in the range of 2&ndash;11 per cent. In comparison, BSE Sensex was trading at record levels, up 0.23 per cent at 79,662.64. <a href="https://www.business-standard.com/markets/news/broking-stocks-fall-up-to-11-after-sebi-directs-miis-to-levy-uniform-fees-124070200139_1.html" target="_blank"><strong>Read more</strong></a><br />
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Market check: Sensex takes U-turn from highs, drops marginally

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BSE SmallCap Heatmap:: DCX India soars 15%; Rane Holdings, Refex, Anant Raj other key winners

BSE MidCap Heatmap:: Solar Inds, Oil India rally up to 5%; PolicyBazaar dips 3%

ALERT:: SmallCaps seen outperforming other benchmarks in Tesday's early deals

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

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

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

<div>
	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.</div>
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	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. <a href="https://www.business-standard.com/markets/news/sebi-directs-exchanges-other-miis-to-discontinue-slab-wise-fee-structure-124070100987_1.html" target="_blank"><strong>Read more</strong></a><br />
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		<img align="" alt="Sebi, Securities and Exchange Board of India" class="imgCont" height="400" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-03/27/full/1679902796-5466.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Sebi, Securities and Exchange Board of India" width="600" /></div>
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Jatin Gedia of ShareKhan recommends buying these two stocks on July 2

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	<strong>SUNTV</strong></div>
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	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.<a href="https://www.business-standard.com/markets/news/jatin-gedia-of-sharekhan-recommends-buying-these-two-stocks-on-july-2-124070200065_1.html" target="_blank"><strong> Read more</strong></a><br />
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		<img align="" alt="market stocks us market share market bullish" class="imgCont" height="400" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-03/07/full/1709830413-6065.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="market stocks us market share market bullish" width="600" />
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			Illustration: Binay Sinha</div>
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M&A deal value slows 9% to $38 billion in the first half of 2024

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	The deal value of mergers and acquisitions (M&amp;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.</div>
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	The Bloomberg data says this is the lowest since 2017, when it had touched $37.48 billion (see chart). <a href="https://www.business-standard.com/markets/news/m-a-deal-value-slows-down-by-9-to-38-billion-in-first-half-of-2024-124070100752_1.html" target="_blank"><strong>Read more</strong></a></div>

Mutual fund investors ease off buying pedal as FPIs make comeback

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	Mutual funds&rsquo; (MFs&rsquo;) 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.</div>
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	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. <a href="https://www.business-standard.com/markets/mutual-fund/mf-investors-take-foot-off-the-pedal-as-fpis-re-enter-market-heats-up-124070100984_1.html" target="_blank"><strong>Read more</strong></a><br />
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Stocks to watch on July 2: Patanjali Foods, CSB Bank, DCX Systems, NMDC

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	<strong>Hero MotoCorp: </strong>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.</div>
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	<strong>DCX Systems:</strong> Gets order worth Rs 1,250 crore from L&amp;T for the manufacture and supply of electronic modules. The order has to be executed over a three-year period.</div>
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	<strong>IOL Chemicals:</strong> Gets China&#39;s drug regulatory authority NMPA&#39;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. <a href="https://www.business-standard.com/markets/news/stocks-to-watch-on-july-2-patanjali-foods-csb-bank-dcx-systems-nmdc-124070200069_1.html" target="_blank"><strong>Read more</strong></a></div>

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

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	<strong>Allcargo Logistics&nbsp;</strong></div>
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	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.<br />
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		<strong>PVR Inox&nbsp;&nbsp;</strong></div>
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		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.<a href="https://www.business-standard.com/markets/news/allcargo-pvr-inox-among-top-3-stock-picks-by-anand-rathi-on-july-02-124070200064_1.html" target="_blank"><strong> Read more</strong></a></div>
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	<img align="" alt="trading, market, stocks" class="imgCont" height="400" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-03/14/full/1710356495-3611.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="trading, market, stocks" width="600" /></div>
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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.<br />
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After three months of decline, the ADTV for the futures and options (F&amp;O) segment rose 18 per cent MoM to Rs 494.7 trillion, toppling the previous record of Rs 483.2 trillion in February.&nbsp; <a href="https://www.business-standard.com/markets/news/trading-turnover-climbs-to-new-record-highs-in-june-shows-data-124070100660_1.html" target="_blank"><strong>Read more</strong></a>

Hindenburg receives show cause notice from Sebi over Adani issue

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	US-based short seller Hindenburg Research has said that it received a &quot;show cause&quot; notice from the Securities and Exchange Board of India (Sebi) on June 27 &quot;outlining suspected violations of Indian regulations&quot; and alleged that the regulator came to Adani Group&#39;s aid after the January 2023 report was released.</div>
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	&quot;Our understanding from discussions with sources in the Indian market is that Sebi&#39;s surreptitious aid of Adani commenced almost immediately post-publication of our January 2023 report,&quot; it said in a blog post on Tuesday. <a href="https://www.business-standard.com/markets/news/hindenburg-receives-show-cause-notice-from-sebi-over-adani-issue-124070200059_1.html" target="_blank"><strong>Read more</strong></a><br />
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		<img align="" alt="Hindenburg Research, Adani" class="imgCont" height="400" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-07/02/full/1719880916-9387.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Hindenburg Research, Adani" width="600" /></div>
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Gift Nifty indicates positive start, quoting 50 pts higher than Nifty50 futures

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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.

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