Market Highlights, July 16: Sensex, Nifty end flat after hitting record highs; RIL, HDFC Bank weigh
Stock Market Highlights today, Tuesday, July 16, 2024: In the broader markets, the BSE MidCap slipped 0.29 per cent, but the BSE SmallCap added 0.32 per cent
 "Stock Market LIVE updates: Sensex, Nifty turn volatile in fag-end; most sectors in red")
Closing Bell on Tuesday, July 16, 2024: Today's stock market session, which saw benchmark indices hitting record highs in the intraday trade, saw a disappointing end.
The BSE Sensex, for instance, touched a record high of 80,898 earlier on July 16, before ending at 80,717, up 52 points or 0.06 per cent.
Similarly, the NSE Nifty50 hit a new high of 24,661, before closing the session at 24,613, up 26 points or 0.11 per cent.
Fag-end selling in Kotak Bank, Reliance Industries, Ultratech Cement, NTPC, L&T, Power Grid, SBI, Axis Bank, Tata Motors, and HDFC Bank weighed on the frontline indices.
In the broader markets, the BSE MidCap slipped 0.29 per cent, but the BSE SmallCap added 0.32 per cent.
Among sectors, most indices ended in the negative territory, led by the Nifty Media (down 1 per cent), the Nifty Pharma (0.38 per cent), and the Nifty PSU Bank (0.25 per cent). On the upside, the Nifty Realty index gained 1.6 per cent, and the Nifty FMCG 0.96 per cent.
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ALERT :: Stock markets to stay shut on Wednesday, July 17
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Tech View :: 'Nifty, Bank Nifty to consolidate in near-term'
Nifty50
On the daily charts, we ca observe that the Nifty has been inching higher towards the 24,840-mark. On the hourly charts, there are signs of loss of momentum as the hourly momentum indicator has a negative crossover and the Bollinger bands have also begun to contract, indicating that there could be a consolidation over the next few trading sessions. The range of consolidation is likely to be 24,700 – 24,500.
Bank Nifty
Bank Nifty consolidated and closed around the 20-day moving average support. We expect the Bank Nifty to hold on to this support and head higher towards 52,800 – 53,000 over the next few trading sessions. Crucial support for Bank Nifty is placed at 52,100 – 51,900.
Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
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Comment :: What all happened in the markets today?
The domestic market failed to uphold the opening gains as investor concerns about current valuations and subdued expectations for Q1FY25 earnings. With the earnings season set to fully commence this week, investors are likely to gain a broader sectoral perspective. Globally, the dovish comment from the FED chief on inflation trajectory and a drop in US 10yr yield ahead of US retail sales data increased the likelihood of a rate cut in September.
Views by: Vinod Nair, Head of Research, Geojit Financial Services
Views by: Vinod Nair, Head of Research, Geojit Financial Services
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Currency check :: Rupee rises 1 paise vs US dollar
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Broader markets :: MidCap index underperforms peers, SmallCap index outshines
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Sectoral trends :: Realty, IT, FMCG hold fort
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Sensex Heatmap :: RIL, Kotak Bank end as top laggards, cap gains
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Closing Bell :: Nifty holds 24,600
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Closing Bell :: Sensex settles with mild uptick, holds 80,700
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Stock Alert :: Zomato drops over 5% on profit booking
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Udaipur Cement stock price slips over 5% after June quarter results
The company reported a loss of Rs 10.3 crore in the June quarter of financial year 2025 (Q1FY25), as opposed to a profit of Rs 4.2 crore in the same quarter last year (Q1FY24). Udaipur Cement had posted a profit of Rs 19.8 crore in the last quarter of FY24 (Q4FY24). READ MORE
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This BSE listed ship breaking stock has zoomed 79% in 4 trading days
As many as 246,000 shares changed hands and there were pending buy orders for 28,483 shares on the BSE, the exchange data shows. On an average sub 1.2 million shares were traded in the past two weeks. Hariyana Ship Breakers trades under the ‘X’ category. Companies falling in the X sub-group are traded only on the BSE and not on the NSE. READ MORE
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NSE tightens margin funding rules, excludes 1010 stocks including Paytm
Of the 1,730 stocks previously eligible, the NSE has removed 1,010, including notable companies like Adani Power, Yes Bank, Suzlon, Bharat Dynamics, and Paytm. These changes will take effect on August 1, 2024, according to the report. READ MORE
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Bajaj Auto Q1FY25 results: Profit rises 19% YoY to Rs 1,988 cr; stock up 2%
Bajaj Auto's consolidated profit in Q1FY25 increased 18.68 per cent year-on-year (Y-o-Y) to Rs 1,941 crore compared to Rs 1,644 crore in the corresponding quarter of the previous year. On a standalone basis, Bajaj Auto's net profit was Rs 1,988.34 crore, up 19.4 per cent Y-o-Y from Rs 1,664.77 crore. READ MORE
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ALERT:: Century Textiles reports turnaround in Q1; stock up 1%
Century Textiles today posted a consolidated net profit of Rs 17.35 crore for the quarter ended June 2024 as against a net loss of Rs 7.06 crore in Q1FY24. Revenue from operations grew by 29.6 per cent YoY to Rs 1,167.59 crore from Rs 900.70 crore.
Topics : Sensex MARKET LIVE MARKET WRAP Markets Q1 results Market news Indian stock market Indian stock markets S&P BSE Sensex Nifty50 Global Markets corporate earnings MARKETS TODAY Markets Sensex Nifty
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First Published: Jul 16 2024 | 7:41 AM IST
