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Stock Market Highlights on Thursday, July 11, 2024: The BSE Sensex ended at session 27 points lower at 79,897, while the Nifty50 closed at 24,316, down 8.5 points

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		<strong>Closing Bell on Thursday, July 11, 2024:</strong> Indian benchmarks -- Sensex, and Nifty50 indices -- extended weakness into second day on Thursday amid selling in L&T, HDFC Bank, Bajaj Finance, ICICI Bank, Sun Pharma, and Bharti Airtel.&nbsp;</div>
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		The frontline indices, however, ended sharply off lows aided by gains in shares of Tata Motors, ITC, Kotak Bank, TCS, SBI, Asian Paints, and Titan Company.&nbsp;</div>
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		Overall, the BSE Sensex ended at session barely 27 points lower at 79,897 level, while the Nifty50 closed at 24,316, down 8.5 points. The BSE benchmark had hit an intraday low of 79,464 and the NSE benchmark had touched 24,194.</div>
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		In the broader markets, the BSE MidCap index gained 0.34 per cent, and the BSE SmallCap advanced 0.57 per cent.&nbsp;</div>
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	In the broader market shares of <a href="https://www.business-standard.com/markets/news/shipping-stocks-zoom-up-to-19-sci-ge-shipping-hit-record-high-check-why-124071100342_1.html?1720681332" target="_blank"><strong>shipping firms</strong></a>, and individually, <a href="https://www.business-standard.com/markets/news/rvnl-surpass-bpcl-pnb-in-market-cap-raking-stock-zooms-54-in-1-week-124071100383_1.html?1720681332" target="_blank"><strong>RVNL</strong></a> and <a href="https://www.business-standard.com/markets/news/yes-bank-stock-rallies-8-on-moody-s-rating-upgrade-to-positive-124071100189_1.html?1720681332" target="_blank"><strong>YES Bank </strong></a>stole the limelight. Among others, <a href="https://www.business-standard.com/markets/news/raymond-stock-trades-ex-lifestyle-biz-gains-4-from-discovered-price-124071100328_1.html?1720681332" target="_blank"><strong>Raymond</strong></a> today traded at an adjusted price, post de-merger of its Lifestyle unit,.<br />
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	Among sectors, the Nifty Media index closed 1 per cent higher, followed by the Nifty FMCG (0.3 per cent). On the downside, the Nifty Realty fell 1.5 per cent.<br />
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Stock Market Highlights, July 11: Mid, small-caps outshine Sensex, Nifty; Oil, shipping stocks soar

Business Standard

Stock Market Highlights, July 11: Mid, small-caps outshine Sensex, Nifty; Oil, shipping stocks soar | News on Markets - Business Standard

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Broader markets :: Mid, SmallCap indices outperform

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Sectoral trends :: Most indices end on either side of flatline

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Sensex Heatmap :: Index ends flat as gainers equal losers

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Closing Bell :: Nifty holds 24,300 at close

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Closing Bell :: Sensex ends 433 points off lows

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ONGC, Oil India, Selan on fire; Here's what fueled up to 13% rally in oil explorers

Hardeep Singh Puri, minister of Petroleum and Natural Gas in India, said E&amp;P offers investment opportunities worth $100 billion by 2030. <a href="https://www.business-standard.com/markets/news/ongc-oil-india-selan-on-fire-here-s-what-fueled-13-rally-on-july-11-124071100554_1.html?1720689115" target="_blank"><strong>READ MORE</strong></a><br />
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Ashish Kacholia-owned stock up 86% in 27 days; zooms 169% from March low

Shares of Balu Forge Industries hit a new high of Rs 415, surging 9 per cent on the BSE in Thursday&#39;s intra-day trade in otherwise a weak market. <a href="https://www.business-standard.com/markets/news/this-ashish-kacholia-owned-stock-up-86-in-27-days-up-169-from-march-low-124071100514_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Indegene inks pact with Microsoft to scale Gen AI adoption: stock jumps 5%

Indegene and Microsoft have committed to developing resources in specialised and skilled medical and technology tools to co-innovate generative AI services and workflows. <a href="https://www.business-standard.com/markets/news/indegne-inks-pact-with-microsoft-to-scale-gen-ai-adoption-stock-jumps-5-124071100515_1.html?1720687658" target="_blank"><strong>READ MORE</strong></a><br />
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Ahluwalia Contracts stock up 8% on Rs 893 cr-order win; rises 69% in 6 mths

The surge in share price came after the company announced that it has secured an order worth Rs 893.48 crore from Airport Authority of India (AAI). <a href="https://www.business-standard.com/markets/news/ahluwalia-contracts-stock-up-8-on-rs-893-cr-order-win-rises-69-in-6-mths-124071100444_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Reliance Jio could list at $112bn valuation, 15% upside in RIL: Jefferies

Jefferies report on Reliance Jio listing: Assuming Jio is spun off from Reliance Industries&#39; stable, the fair value for RIL stock would be Rs 3,580, Jefferies said. <a href="https://www.business-standard.com/markets/news/reliance-jio-could-list-at-112bn-valuation-15-upside-in-ril-jefferies-124071100401_1.html?1720682180" target="_blank"><strong>READ MORE</strong></a><br />
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Bayer Corp, Ashiana Housing record up to 50-fold jump in volume on July 11

Bayer Corp, Ashiana Housing, India Grid Trust, KCP Sugar and SCI among 9 stocks to log over 10-fold jump in daily trading volumes on the BSE on Thursday. <a href="https://www.business-standard.com/markets/news/bayer-corp-ashiana-housing-record-up-to-50-fold-jump-in-volume-on-july-11-124071100395_1.html?1720681332" target="_blank"><strong>READ MORE</strong></a><br />
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Tata Elxsi falls 3% as analysts caution on high valuation, near term risks

According to analysts, Tata Elxsi&#39;s revenue growth was led by ramp-up of deals in the transportation vertical but was offset by softness in the media and communication. <a href="https://www.business-standard.com/markets/news/tata-elxsi-falls-3-as-analysts-caution-on-high-valuation-near-term-risks-124071100390_1.html?1720681332" target="_blank"><strong>READ MORE</strong></a><br />
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RVNL surpass BPCL, PNB in market cap ranking; stock zooms 54% in 1 week

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	Rail Vikas Nigam Limited (RVNL) has surpassed public sector undertaking (PSU) oil marketing company, Bharat Petroleum Corporation (BPCL) and lender, Punjab National Bank (PNB), in market capitalisation (market cap) ranking as stock of the state-owned civil construction company continued its upward movement on strong order inflows from railways. <a href="https://www.business-standard.com/markets/news/rvnl-surpass-bpcl-pnb-in-market-cap-raking-stock-zooms-54-in-1-week-124071100383_1.html?1720680780" target="_blank"><strong>READ MORE</strong></a></div>
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Income tax rate cut, sops for PSUs: Brokerage expectations from Modi 3.0 budget

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	The next fortnight will be a volatile phase for the Indian stock markets as they prepare and then digest finance minister Nirmala Sitharaman&rsquo;s budget proposals for fiscal 2024-25 (FY25). <a href="https://www.business-standard.com/markets/news/income-tax-rate-cut-sops-for-psus-brokerage-expectations-from-modi-3-0-budget-124071100245_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="Nirmala Sitharaman,Nirmala,Finance Minister" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-05/09/full/1715241073-3392.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 391px;" title="Nirmala Sitharaman,Nirmala,Finance Minister" /></div>
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KCP Sugar stock zooms 17% on strong June quarter results; profit jumps 76%

Shares of KCP Sugar zoomed as much as 16.61 per cent to hit an intraday high of Rs 52.99 per share on Thursday, July 11. The uptick in share price came after the company reported a strong set of June quarter results (Q1FY25). <a href="https://www.business-standard.com/markets/news/kcp-sugar-stock-zooms-17-on-strong-june-quarter-results-profit-jumps-76-124071100346_1.html?1720678405" target="_blank"><strong>READ MORE</strong></a><br />
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Shipping stocks zoom up to 19%; SCI, GE Shipping hit record high. Check why

The rally in share prices of shipping companies comes amid various news flow around the sector. First, a TV channel has reported that the government is considering major proposals for the shipping sector in the upcoming Union Budget 2024. <a href="https://www.business-standard.com/markets/news/shipping-stocks-zoom-up-to-19-sci-ge-shipping-hit-record-high-check-why-124071100342_1.html?1720677791" target="_blank"><strong>READ MORE</strong></a><br />
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YES Bank stock rallies 8% on Moody's rating upgrade to 'positive'

At 09:35 am; YES Bank was trading 6.6 per cent higher at Rs 26.61, as compared to 0.01 per cent decline in the BSE Sensex. The counter saw huge volumes, with a combined 257.52 million shares changing hands on the NSE and BSE. <a href="https://www.business-standard.com/markets/news/yes-bank-stock-rallies-8-on-moody-s-rating-upgrade-to-positive-124071100189_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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New Listing :: Ambey Labs lists at Rs 85 vs issue price of Rs 68 on NSE

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Broader markets :: All broader indices swim in green

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Sensex Heatmap :: Less than 10 index stocks slip in trade

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Opening Bell :: Nifty holds gains, trades above 24,350

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Opening Bell :: Sensex starts above 80,000

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Currency check :: Rupee strengthens in early deals

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Ambuja Cements poised for highest volume growth: Nomura upgrades to 'Buy'

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	Japanese brokerage firm Nomura has upgraded India&#39;s second biggest cement company Ambuja Cements to Buy with a target price of Rs 780, an upside of 17 per cent, raising their&nbsp; target multiple to 19x (from 14x) to factor in the company&rsquo;s expansion juggernaut. <a href="https://www.business-standard.com/markets/news/ambuja-cements-poised-for-highest-volume-growth-nomura-upgrades-to-buy-124071100101_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Sahaj Solar IPO opens today; check price band, GMP, other details here

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	Renewable energy solutions provider Sahaj Solar IPO opens for subscription today, July 11, 2024. It is a book-built issue aiming to raise Rs 52.56 crore through the issuance of 2.92 million fresh shares. <a href="https://www.business-standard.com/markets/news/sahaj-solar-ipo-opens-today-check-price-band-gmp-other-details-here-124071100097_1.html?1720667602" target="_blank"><strong>READ MORE&nbsp;</strong></a></div>
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Mutual fund equity folio additions surge to record high in June 2024

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	Net account additions in active equity mutual fund (MF) schemes swelled to a record high of four million in June owing to a spree of new fund launches during the month. Thematic funds alone added nearly two million accounts, shows data from the Association of Mutual Funds in India (Amfi). <a href="https://www.business-standard.com/markets/news/mutual-fund-equity-folio-additions-surge-to-record-high-in-june-2024-124071000938_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="RBI in talks with Sebi to allow mutual funds to sell debt to ARCs" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-05/20/full/1716229036-7272.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 574px;" title="RBI in talks with Sebi to allow mutual funds to sell debt to ARCs" /></div>
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Global gold ETFs lose $6.7bn in 2024; worst H1 drop in 11 years: WGC

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	Global physically backed gold exchange traded funds (ETFs) have lost $6.7 billion in the first half of calendar year 2024 (H1-CY24), suffering their worst first half in a calendar year since 2013, said a recent note by World Gold Council (WGC). Total holdings, the report said, have dropped by 120 tonnes (-3.9 per cent) to 3,105 tonnes during this period. <a href="https://www.business-standard.com/markets/news/global-gold-etfs-lose-6-7bn-in-2024-worst-h1-drop-in-11-years-wgc-124071000282_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Milk price rise: Will dairy stocks milk gains for investors? Analysts weigh

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	Amid rising milk prices, analysts have an optimistic view on India&#39;s dairy stocks such as Heritage Foods and Dodla Dairy, aided by hopes of margin expansion in the near-to-medium term. <a href="https://www.business-standard.com/markets/news/milk-price-rise-will-dairy-stocks-milk-gains-for-investors-analysts-weigh-124071000412_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="milk factory amul mother dairy" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-07/01/full/1719852112-6835.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="milk factory amul mother dairy" /></div>
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Big players missing, corp bond issuances drop 36% in Apr-Jun period

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	Uncertainty over the election outcome and the Union Budget, coupled with the absence of HDFC Ltd, led to a more than one-third decline in corporate bond issuances during the April-June period compared to the previous year. <a href="https://www.business-standard.com/markets/news/absence-of-hdfc-corp-bond-issuances-fall-by-36-in-apr-jun-period-124071001130_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Stocks to watch, July 11: Yes Bank, Glenmark Pharma, Nykaa, SBI, Tata Elxsi

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	<strong>SBI: </strong>State Bank of India raised Rs 10,000 crore at a coupon rate of 7.36 per cent through its sixth infrastructure bond issuance, which was oversubscribed by approximately 3.6 times against the base issue size of Rs 5,000 crore. <a href="https://www.business-standard.com/markets/news/stocks-to-watch-july-11-yes-bank-glenmark-pharma-nykaa-sbi-tata-elxsi-124071100069_1.html?1720663243" target="_blank"><strong>READ MORE</strong></a></div>
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Trading guide July 11: Global shares, GIFT Nifty hint positive open; TCS Q1

Equity benchmark indices &ndash; the BSE Sensex and the Nifty &ndash; are likely to start Thursday&rsquo;s trading session on a cautiously optimistic note ahead of TCS results. <a href="https://www.business-standard.com/markets/news/trading-guide-july-11-global-shares-gift-nifty-hint-positive-open-tcs-q1-124071100068_1.html?1720662897" target="_blank"><strong>READ MORE</strong></a><br />
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Ireland pips Mauritius to 4th spot on preferred FPI destinations list

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	Mauritius, once among the leading destinations for foreign portfolio investors (FPIs) routing funds into India, has now slipped to the fifth position, behind Ireland, in terms of assets under custody (AUC) as of June 30. <a href="https://www.business-standard.com/markets/news/mauritius-slips-to-fifth-place-on-preferred-fpi-destinations-list-124071001004_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="FPI" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-05/18/full/1715972149-1554.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 252px;" title="FPI" /></div>
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India IPO frenzy draws retail investors with quick 57% gains: Report

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	Retail investors are expected to keep piling into initial public offerings in India this year, as hefty gains for new stocks outpace the broader market and listings abroad. <a href="https://www.business-standard.com/markets/ipo/india-ipo-frenzy-draws-retail-investors-with-quick-57-gains-report-124071100012_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Jigar S Patel of Anand Rathi recommends buying these three stocks today

Over the past few weeks, Aether has shown a consistent uptrend by forming higher highs and higher lows, which is a positive indicator of its market performance. Recently, Aether has surpassed its previous consolidation range high of 865 and is now trading around 896. <a href="https://www.business-standard.com/markets/news/jigar-s-patel-of-anand-rathi-recommends-buying-these-three-stocks-today-124071100060_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Stocks to buy and sell on July 11: India Cements, GMDC, Marico

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	Markets fluctuated sharply within a range and ended up losing nearly half a percent, wiping out the gains from Tuesday&rsquo;s session. After a flat start, Nifty plunged sharply in the early hours but a recovery in select heavyweights helped pare some losses as the day progressed. It eventually settled at 24,324, down by 0.45 per cent. <a href="https://www.business-standard.com/markets/news/stocks-to-buy-and-sell-on-july-11-india-cements-gmdc-marico-124071100054_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Profit booking on cards for Nifty Pharma, FMCG; check trading strategy

The Nifty Pharma Index is currently showing a bullish trend on the near-term charts but is approaching a significant resistance level around 20,850. Technical indicators are in the overbought zone, which suggests that profit booking and selling pressure are likely to occur in the coming days. <a href="https://www.business-standard.com/markets/news/profit-booking-on-cards-for-nifty-pharma-fmcg-check-trading-strategy-124071100055_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Asian markets buzzing in trade; Nikkei tops 42K for first time

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Stock Market Highlights, July 11: Mid, small-caps outshine Sensex, Nifty; Oil, shipping stocks soar

Stock Market Highlights on Thursday, July 11, 2024: The BSE Sensex ended at session 27 points lower at 79,897, while the Nifty50 closed at 24,316, down 8.5 points

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