Market Highlights, July 18: IT stocks drive benchmarks to record; Sensex tops 81k, Nifty at 24,800

Stock Market Highlights, today, July 18, 2024: The Sensex index ended at 81,343, up 627 points, while Nifty ended at 24,801, up 188 points

9:10 AM

Pre-open: Nifty below 24,550

9:09 AM

Pre-open: Sensex down nearly 200 points

9:08 AM

Rupee opens at $83.57

8:54 AM

Volume outperformance, steady results factored into Bajaj Auto's valuations

The exports are witnessing a revival led by Latin America though key markets like Nigeria in Africa continue to struggle at 30 per cent of peak volumes. Brazil is expected to emerge as one of the top 3 markets in the medium term. READ MORE

8:48 AM

Q1FY25 results today :: Infosys to lead IT-pack, may see profits rise up to 10% YoY

Key monitorables: The street will watch out for  updates on panning out of Liberty deal, any tweak on FY25 revenue growth guidance, update on inSemi acquisition and enterprise discretionary spending. READ MORE

8:42 AM

Stocks to watch, July 18: Infosys, RIL, Vi, LTIM, Asian Paints, Paytm

Asian Paints:Asian Paints reported a 24.6 per cent decline in net profit to Rs 1,186.8 crore for Q1FY25, with revenue decreasing 2.3 per cent to Rs 8,969.7 crore. Earnings before interest, taxes, depreciation and amortisation (Ebitda) dropped 20.2 per cent to Rs 1,693.8 crore, resulting in a margin decrease to 18.9 per cent from 23.1 per cent on a year-on-year (Y-o-Y) basis.

 

LTIMindtree: LTIMindtree's Q1FY25 consolidated results showed a 3.1 per cent increase in net profit to Rs 1,135.1 crore, supported by a 2.8 per cent rise in revenue to Rs 9,142.6 crore. Ebit grew 4.8 per cent to Rs 1,370.9 crore, expanding the margin to 15 per cent from 14.7 per cent. READ MORE

 

8:38 AM

IPO Update :: Last day of Tunwal E-Motors IPO today

8:33 AM

Lauras Labs, Strides Pharma: Top picks by Vinay Rajani to buy on July 18

Buy Strides Pharma(CMP: 942): | Targets Rs 1045,1090 | Stop-loss Rs 870

Stock price has broken out from downward sloping trend line on the monthly chart. Price rise was accompanied by healthy volumes. Stock price has been trading above all important moving averages, indicating bullish trend on all time frames. Indicators and oscillators have turned bullish on weekly and monthly charts. READ MORE

8:28 AM

Jigar S Patel of Anand Rathi recommends buying these three stocks today

SBI Card  

Following a peak near the Rs 933 level, SBI Card experienced a significant downturn, with a sharp decline of nearly 280 points, representing a substantial decrease of approximately 30 per cent in its overall value. Despite this steep drop, SBICARD has managed to stabilise around the Rs 675 level over the past week, forming a sustained support base. This stabilization is a critical sign of potential recovery. READ MORE

8:23 AM

Marico, Apollo Tyres among top picks by Chandan Taparia of MOFSL

Buy Apollo Tyres | CMP: Rs 550 | Stop loss: Rs 530 | Target: Rs 590

On the Daily Chart, price broke out of a Rectangle Pattern on July 16 with higher-than-average buying volumes at Rs 550. The most recent candle has formed a large real body with small upper and lower wicks indicating the buyers were in control during the day. READ MORE

8:18 AM

Sensex, Nifty outlook July 18: GIFT Nifty up marginally; Nikkei falls 2%

The Nifty hit a new all-time high of 24,661 on Tuesday, July 16. The 24,600 Strike saw heavy put writing but the 24,650 & 24,700 strikes saw call writing. The Nifty has made consecutive doji candles on the daily chart signaling indecision. Both the call & put writers battled out at the 24,600 Strike in the Nifty and the option activity at this strike will provide cues about Nifty’s direction ahead of the weekly expiry on Thursday. READ MORE

8:14 AM

Fund Flow :: DIIs sell equities worth Rs 529.48 crore on July 16

8:09 AM

Fund Flow :: FIIs/FPIs buy equities worth Rs 1,271.45 crore on July 16

8:05 AM

Yen spikes as spectre of intervention spooks investors

>> Japan's yen scaled a six-week high on Thursday, spurring speculation of an official push, while the dollar nursed broad losses as markets prepared for U.S. rate cuts in a few months.

>> The euro , which scaled a four-month peak overnight, hovered near that level at $1.094 and sterling was steady at $1.3007, just below the one-year top it had made in overnight trade.

>> The yen gained sharply on Wednesday and was up another 0.5% to touch 155.37 per dollar in the otherwise quiet early hours of the Asia session on Thursday.

Source: Reuters

8:00 AM

Samsung Elec, SK Hynix shares slide, tracking falls in global chip stocks

>>  South Korea's major chipmakers Samsung Electronics and SK Hynix fell 1.9% and 3.9%, respectively, on Thursday, following losses in global chip stocks.

>> Wall Street's semiconductor index lost more than $500 billion in stock market value on Wednesday in its worst session since 2020 after a report said the United States was considering tighter curbs on exports of advanced semiconductor technology to China.

Source: Reuters