Sensex soars 274 pts, Nifty near 19,400 as Bajaj Fin leaps 7%, Hero Moto 5%

Closing Bell on July 4, 2023: The rally was led by Bajaj Finance, Bajaj Finserv, Hero Moto, Tech M, TCS, Wipro, Sun Pharma, Kotak Bank, Infosys, Cipla, HCL Tech, SBI, HDFC twins, and ICICI Bank

3:42 PM

MidCap indices underperform in broader market, end in red

3:40 PM

Nifty 50 Losers:: Eicher Motors cracks 6%; five more stocks decline over 1%

3:38 PM

Nifty 50 Gainers:: Bajaj twins, Hero MotoCorp top chart

3:37 PM

Sensex 30 Heatmap:: Bajaj twins shine; RIL, Airtel whine

3:35 PM

CLOSING BELL:: NSE Nifty50 finishes with a gain of 66 points at a fresh record high of 19,389

3:33 PM

CLOSING BELL:: S&P BSE benchmark extends rally, ends higher for 5th straight trading session; up 274 pts

The BSE benchmark index has rallied 2,508 points in the last five trading sessions.

3:25 PM

IPO Update:: Senco Gold subscribed up to 46% so far

Senco Gold was subscribed up to 46 per cent as of 03:15 PM on the first day of the offer period. Retail quota was subscribed up to 78 per cent and HNIs 31 per cent.

3:19 PM

IPO Update:: PKH Ventures subscribed up to 61% so far

3:13 PM

ALERT:: Coffee Day defaults on bank, debt repayment; stock down 2%

Coffee Day Enterprises has informed BSE, that the company has defaulted on a bank loan worth Rs 189.70 crore, and repayment due on unlisted debt securities to the tune of Rs 200 crore.

3:01 PM

COMMENT:: PSU Banks are likely to report strong growth

Public banks have performed well post COVID. The asset quality cycle tailwind has resulted in improvement in NPA ratios. The corporate credit woes are behind us. Therefore we expect the credit cost normalisation in the coming period. As per as growth is concerned, the PSU Banks are likely to report strong growth factoring capex improvement. The large PSU Banks like SBIN and BOB are also growing rapidly on the consumer credit front. Hence we expect further room for re-rating. Nevertheless, The ECL provision will be keenly watched. We prefer large PSU Banks; SBIN, BOB and PNB (considering the valuations).

 

- Ajit Kabi, Banking Analyst at LKP Securities
 

2:51 PM

Eicher Motors cracks 6% as Hero Moto-Harley Davidson tie up for X440 bike

Priced at Rs 2.29 lakh, X440 motorbike will directly compete with Eicher Motors' Royal Enfield Classic 350's starting price of Rs 1.93 lakh and the Hunter 350's Rs 1.5 lakh. READ MORE

2:40 PM

Temperatures seen surging as El Nino weather pattern returns: WMO

Temperatures are expected to soar further across large parts of the world after the El Nino weather pattern emerged in the tropical Pacific for the first time in seven years, the World Meteorological Organization said on Tuesday.

 

El Nino, a warming of water surface temperatures in the eastern and central Pacific Ocean, is linked to extreme weather conditions from tropical cyclones to heavy rainfall to severe droughts. READ MORE

2:29 PM

ALERT:: G R Infraprojects secures Rs 588 cr order; stock flat

G R Infraprojects has signed a Engineering Procurement and Construction agreement with East Coast Railway for project work worth Rs 587.59 crore.

2:19 PM

Market Check:: BSE Telecom index slips over 1%

2:07 PM

ALERT:: Care Ratings withdraws rating on JK Tyre US arm

Care Ratings withdrew its rating on JK Tornel, a US-based subsidairy of JK Tyre & Industries as requested by the company as the former repaid the bank loan.