Stock Market Highlights, July 25: Nifty holds 24,400 amid F&O expiry; Axis Bank falls 5%, TaMo up 6%

Stock Market Highlights today, July 25: The BSE Sensex index ended at 80,040, down 109 points. The BSE Midcap, and SmallCap indices closed 0.2 per cent and 0.14 per cent lower, respectively

9:18 AM

Opening Bell :: Nifty starts below 24,250

9:17 AM

Opening Bell :: Sensex drops 600 pts, tests 79,550 in early deals

9:11 AM

Pre-Open Session :: Sensex falls over 600 pts

9:09 AM

Pre-Open Session :: Nifty falls nearly 200 pts, quotes below 24,250

9:06 AM

Nuvama upgrades United Spirits to 'Buy' on stellar margin delivery in Q1

Nuvama bullish on United Spirits:Domestic brokerage Nuvama has upgraded United Spirits to ‘Buy’ from ‘Hold’ with an increased target price (TP) of Rs 1,630. The previous target price was Rs 1,195.

“Given the margin outperformance, huge headroom in new premium categories (tequila, craft spirits) and the upcoming wedding/festive season, we are raising FY25E/26E earnings per share (EPS) by 5.3 per cent/6.5 per cent and the target price-to-earnings (PE) from 50x to 60x. This along with a rollover to Q1FY27E yields a revised TP of Rs 1,630 (earlier Rs 1,195); upgrade to ‘Buy’ (from ‘Hold’),” Nuvama said in a note. Read more

9:03 AM

Rupee opens at $83.70

8:56 AM

ALERT :: China cuts 1-year medium-term lending facility rate by 20bps to 2.3% from 2.5%

>> Largest reduction since April 2020, just days after lowering key short-term rate 

 

8:52 AM

Over 70% intraday traders suffered losses during FY23, reveals Sebi study

Over 70 per cent of individual investors who engage in intraday trading incurred an average loss of Rs 5,371 during 2022-23 (FY23), according to a study conducted by the Securities and Exchange Board of India (Sebi).

Intraday trades involve buying and selling securities within the same trading day. The study covered nearly 7 million investors trading in the equity cash segment. Read more

 

8:39 AM

Nestle Q1 Preview: Analysts eye strong revenue growth, margin expansion

Nestle Q1 preview:Fast moving consumer goods (FMCG) player Nestle India will release its June quarter of financial year 2025 (Q1FY25) results on Thursday, July 25, 2024.

Analysts said that demand in the FMCG sector has strengthened, driven by strong performance in the Summer portfolio. While demand was initially weak early in the quarter, it steadily improved in the latter part. Rural markets surpassed urban markets, largely due to a favourable comparison with a low base from previous periods. Read more

8:31 AM

Comment: Bearish pattern suggests downside risk towards 24k for Nifty50

Nifty has declined for four consecutive days, with a rough start expected today due to July F&O expiry-induced volatility. The Union Budget, praised for fiscal prudence and employment focus, targets a 4.9 per cent fiscal deficit and Rs 11.11 trillion in infrastructure spending for FY25.

However, a capital gains tax hike is dampening sentiment. Technically, a bearish engulfing pattern suggests downside risk towards 24,000. Nifty's options data indicates a trading range of 23,500-25,000, with 25,000 as key resistance. 

Recommended trades: Sell Nifty between 24,500-24,550 (targets: 24,250/24,071, aggressive: 23,600-23,750) and Bank Nifty between 51,500-51,700 (targets: 50,900/50,591, aggressive: 48,913-49,000).

Bullish picks include BALRAMPUR CHINI and NTPC, with NTPC expected to break out above 393 (buy between Rs 382-385, target: Rs 403-417, aggressive: Rs 441).

(Comment By: Prashanth Tapse, Senior VP (Research), Mehta Equities)

8:22 AM

Gold price slips Rs 10 to Rs 70,850, silver declines Rs 100 to Rs 87,400

Gold Price Today: The price of 24-carat gold slipped Rs 10 in early trade on Thursday, with ten grams of the precious metal selling at Rs 70,850, according to the GoodReturns website. The price of silver also declined by Rs 100, with one kilogram of the precious metal selling at Rs 87,400.

The price of 22-carat gold slipped Rs 10, with the yellow metal trading at Rs 64,940. Read more

8:08 AM

Schaeffler, SBI Card; top picks by Jigar S Patel of Anand Rathi for July 25

Schaeffler 

Schaeffler experienced a significant decline after reaching its peak near Rs 4,950, dropping approximately 1,155 points, which translates to a substantial 23 per cent decrease in price.

Currently, the stock appears to have found support around its 100-day Exponential Moving Average (DEMA), forming a double bottom pattern. Read more

 

8:05 AM

Stocks to Watch, July 25: Axis Bk, LT, RBL Bk, BSE, Nestle, IGL, Canara Bk

Larsen & Toubro: Construction major L&T's consolidated net profit for the June quarter rose 12 per cent to Rs 2,786 crore. It's consolidated revenue increased 15 per cent to Rs 55,120 crore.

SBI Life: SBI Life Insurance clocked a 34.3 per cent Y-o-Y growth in net profit to Rs 519.52 crore during Q1FY25, backed by healthy growth in premiums. Its value of new business (VNB) increased 12 per cent Y-o-Y to Rs 970 crore during the quarter.However, the company reported a contraction in VNB margin at 26.8 per cent in Q1FY25 compared to 28.8 per cent in the corresponding period last year.

V-Guard: The company reported a 54.11 per cent increase in consolidated net profit at Rs 98.97 crore for June quarter of FY25, aided by improvement in margins. Read more

8:01 AM

Main focus of foreign investors will be on capital gains tax: Mark Matthews

Union Budget 2024-25 has proposed a slew of changes for investors in the capital market and real estate. MARK MATTHEWS, head of research for Asia, Julius Baer, told Puneet Wadhwa in an email interview that foreign investors will welcome the focus on fiscal consolidation. The Budget has a fiscal deficit to GDP target of 4.9 per cent this year and 4.5 per cent for next. “If it can be done, I would expect to see credit rating upgrades, which are usually good for financial markets,” Matthews said. Edited excerpts: Read more

7:55 AM

Ajit Mishra of Religare Broking recommends buying these stocks on July 25

Apollo Hospitals Enterprise | LTP: Rs 6,422.60 | Buy | Target: Rs 6,660 | Stop-loss: Rs 6,300

We have been seeing noticeable traction in the defensive pack and Apollo Hospitals is trading in sync. It has been steadily rising following a breakout from a falling channel pattern and comfortably maintaining its position above key exponential moving averages (EMAs). Additionally, momentum indicators show a rising trend, further reinforcing the bullish outlook. Read more