Monday, December 23, 2024 | 12:20 PM ISTEN Hindi

Stock Market Highlights, August 1: Sensex rises 126 pts, Nifty holds 25,000; PSU stocks shine

Stock Market Highlights on Thursday, August 1, 2024: The day ended in favour of the bulls, with 28 out of the 50 listed companies on the Nifty50 ending higher, led by Power Grid Corporation of India

SI Reporter New Delhi

Stock Market Highlights, August 1: Sensex rises 126 pts, Nifty holds 25,000; PSU stocks shine

Stock Market Highlights on Thursday, August 1, 2024: Benchmark equity indices, the BSE Sensex and NSE Nifty50, settled at record closing highs on Thursday. The Sensex, after scaling an all-time high of 82,129.49 intraday, settled with gains of 126 points or 0.15 per cent to 81,867, while the Nifty50 ended 10 points above the 25,000 levels at 25,010. The index had hit a record high of 25,078.30 during early trade on Thursday.

The day ended in favour of the bulls, with 28 out of the 50 listed companies on the Nifty50 ending higher, led by Power Grid Corporation of India, Coal India, ONGC, HDFC Bank, and Dr Reddy's Lab with gains of up to 4 per cent.

On the BSE, Power Grid Corporation was the biggest gainer among the Sensex constituents, followed by HDFC Bank, NTPC, Nestle India, and Adani Ports.

The broader indices settled lower, with the MidCap and SmallCap indices being the worst hit, led by profit bookings.

Among the sectors, Media, Auto, Realty, and PSU Bank indices ended lower with a loss of up to 1.70 per cent, while FMCG, Pharma, Oil & Gas, and select financial services managed to settle in the green.

3:59 PM

Comment :: Why did MidCap, SmallCap fall today even as Sensex, Nifty hit record highs?

The benchmarks started positive taking cues from the global market following the Fed Chair’s indication that a rate cut might be considered at the September meeting due to easing inflationary pressures. However, the broader market closed on a negative bias due to escalating geopolitical tensions in the Middle East leading to rising crude oil prices. Sector-wise, capital goods and realty were impacted by profit-booking coupled with auto sectors owing to below-expected monthly auto sales figures.

Views by: Vinod Nair, Head of Research, Geojit Financial Services.

3:52 PM

Tech View :: 'Nifty rally may extend till 25,530'

Nifty50

On the daily charts, we can observe that the Nifty has broken out of a sideways consolidation on the upside. This breakout suggests resumption of upmove after a brief pause. We expect the rally to continue towards 25,330 – 25,530 from short term perspective.

Crucial support now stands at 24,850 – 24,800. Divergence between the daily and hourly momentum indicator can lead to a consolidation however price action is suggesting a breakout and hence we shall assign more weightage to the price action and continue to maintain our positive outlook on the Nifty.

Bank Nifty

Bank Nifty continued to witness rangebound price action. The consolidation has taken form of a symmetrical triangle pattern. A range breakout shall decide the further trend hereon. Thus, shall maintain our rangebound outlook for the Bank Nifty. The range of consolidation for the Bank Nifty is likely to be 51,300 – 52,000.

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

3:42 PM

Currency Check :: Rupee ends flat vs US dollar

3:38 PM

Broader markets :: Broader indices see profit booking as action shifts to large-caps

3:37 PM

Sectoral trends :: Media, Realty indices slip nearly 2% each, Auto, PSU Bank follow

3:35 PM

Sensex Heatmap :: Gainers and losers tie on index; Power Grid rallies 4%, HDFC Bank over 1%

3:34 PM

Closing Bell :: Nifty ends above 25,000

3:33 PM

Closing Bell :: Sensex ends over 100 pts higher after hitting record highs earlier today

3:25 PM

Power Grid stock hits new high on strong outlook; zooms 53% so far in CY24

Power Grid Corporation has strong order book of about Rs 1.1 trillion.Going forward, the company expects higher capex, following several successful tariff-based competitive bidding (TBCB) rounds during the recent times, along with the projects allocated under the regulated tariff mechanism (RTM). For FY25 PGCIL are targeting for CAPEX of more than Rs 18,000 crore. READ MORE

3:17 PM

IPO Update :: Ceigall issue inches closer to halfway mark on Day 1

>> Employee portion subscribd 2.6x

>> Retail portion 61%

Note: Update as of 3:00 PM

3:09 PM

IPO Update :: Akum Drugs issued subscribed 36x so far on last day

>> QIBs lead the subscription race, followed by NIIs, and Retail investors

>> Bidding closes at 5:00 PM today

3:03 PM

Upcoming IPOs in August 2024: Ola Electric, First Cry, and more: Full list

The much-anticipated public offering of India's first electric vehicle (EV) startup, Ola Electric, is scheduled to open tomorrow, Friday, 2nd August 2024, for public subscription. The day will also witness the opening of two SME IPOs: Picture Post Studios and Afcom Holdings. CHECK FULL LIST HERE

Initial public offerings, IPOs, stock market, investors

2:55 PM

Bank of Baroda to recover Rs 10K cr from bad loans in FY25, says CEO

Bank of Baroda recovered Rs 1,005 crore from bad debt in April-June, of which a major portion was small-ticket loans, the chief executive said. READ MORE

2:44 PM

ALERT:: Prince Pipes Q1 net rises 26%; stock down 1%

Prince Pipes in an exchange filing today reported 25.7 per cent growth in Q1 net at Rs 24.67 crore for Q1FY25 when compared with Rs 19.62 crore in Q1FY24. Total income increased by 8.9 per cent YoY to Rs 607.04 crore from Rs 557.35 crore.