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Stock Market Highlights on Friday, July 19, 2024: The selling in the broader market was even steeper with the BSE MidCap and SmallCap indices falling 2.2 per cent each

Stock Market Highlights, July 19: Sensex tanks 739 pts, Nifty gives up 24,550 ahead of Budget week

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			<strong>Closing Bell on Friday, July 19, 2024:</strong> It was a one way street for Dalal Street investors on Friday as weak global sentiment weighed heavily and amid profit booking by investors ahead of the Union Budget 2024 presentation next week.<br />
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			The strength in the information technology (IT) stocks also waned by fag-end, leading to a broad-based selling.</div>
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			The BSE Sensex slumped 739 points, or 0.91 per cent, to end at 80,605 levels, while the Nifty50 gave up 24,550-mark to end at 24,531, down 270 points or 1 per cent.&nbsp;</div>
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			Notably, the indices had hit record highs of 81,588 and 24,855, respectively, in the morning trade.</div>
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			26 of the 30 Sensex index stocks, and 46 of the 50 Nifty stocks settled with losses. The top losers on the benchmarks were Tata Steel, BPCL, JSW Steel, Hindalco, NTPC, Tata Motors, ONGC, Coal India, and Ultratech Cement, which fell between 3 per cent and 5 per cent.</div>
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			The selling in the broader market was even steeper with the BSE MidCap and SmallCap indices falling 2.2 per cent each.</div>
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			All the sectoral indices ended in the red zone, led by the Nifty Metal (4 per cent), the Nifty Realty (2.66 per cent), and the Nifty Auto (2.4 per cent).&nbsp;</div>
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Business Standard

Stock Market Highlights, July 19: Sensex tanks 739 pts, Nifty gives up 24,550 ahead of Budget week | News on Markets - Business Standard

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Welcome to Business Standard&#39;s LIVE market blog.

Budget and Markets :: Policy outlook key to sustain recent Nifty50 rally

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	The sharp rally post-election results has been aided by a reversal in foreign institutional investors&#39; flows into the positive territory and a sustained inflow into domestic mutual funds.<br />
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	Considering the <strong>slow start to earnings growth</strong> in Q1 FY25, policy direction in the upcoming Budget 2024 will be key to sustain it, as the forward P/E premium of India over MSCI emerging markets has touched +2SD above the mean level.<br />
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	We maintain <strong>our Nifty50 target of 25,683,</strong> a marginal upside from the current levels, with a preference for large- caps.<br />
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	We maintain our <strong>Overweight rating on the capital goods, cement, electronics manufacturing services (EMS) and financial sectors</strong>.<br />
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	<em>Views by: InCred Equities</em></div>

Broader markets :: Mid, SmallCap indices slide over 2% each

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Sectoral trends :: All sector indices settle in the red zone

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Sensex Heatmap :: 26 of the 30 index stocks nurse losses; Infy, ITC buck trend

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Closing Bell :: Sensex falls over 700 pts, ends below 81,000

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ICICI Bank, TCS, Grasim: 5 F&O stocks with high PCR for your watchlist

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	<strong>TCS</strong></div>
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	<strong>Support: Rs 4,250</strong></div>
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	<strong>Resistance: Rs 4,420</strong><br />
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	TCS PCR stands at 1.3; with highest OI in Puts seen at Rs 4,000 Strike followed by Rs 4,200 and Rs 4,100. Fresh Put writing was visible at Rs 4,300 and Rs 4,350 Strikes; indicating likely support for the stock around Rs 4,250 levels going ahead.&nbsp;<a href="https://www.business-standard.com/markets/news/icici-bank-tcs-grasim-5-f-o-stocks-with-high-pcr-for-your-watchlist-124071900616_1.html?1721381010" target="_blank"><strong>READ MORE</strong></a></div>

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LTIMindtree stock gains on bagging mutli-million dollar contract extension

Shares of LTIMindtree rose as much as 2.11 per cent to hit an intraday high of Rs 5,875.65 per share on Friday. The share price rose after the company announced that it has secured mutli-million dollar contract extension from Absa Bank. <a href="https://www.business-standard.com/markets/news/ltimindtree-stock-gains-on-bagging-mutli-million-dollar-contract-extension-124071900548_1.html?1721378241" target="_blank"><strong>READ MORE</strong></a><br />
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This Tata group stock has zoomed 37% in 2 days; hit 20-month high

At 12:24 pm; TTML was trading 11 per cent higher at Rs 107.78, as compared to 0.50 per cent decline in the BSE Sensex. The average trading volumes at the counter jumped over six-fold. A combined 248.5 million shares representing 12.7 per cent of total equity of TTML changed hands on the NSE and BSE. <a href="https://www.business-standard.com/markets/news/this-tata-group-stock-has-zoomed-37-in-2-days-hit-20-month-high-124071900468_1.html?1721375427" target="_blank"><strong>READ MORE</strong></a>

Shoppers Stop stock price falls 6% on weak June quarter results

Earnings before interest, tax, depreciation and amortisation (Ebitda), also known as operating profit, fell 16.8 per cent to Rs 142.9 crore in Q1FY25, from Rs 171.9 crore in Q1FY24. <a href="https://www.business-standard.com/markets/news/shoppers-stop-stock-price-falls-6-on-weak-june-quarter-results-124071900425_1.html?1721372319" target="_blank"><strong>READ MORE</strong></a><br />
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Realty check: Avoid buying commercial real estate stocks, caution analysts

&ldquo;The commercial real estate shares are richly valued at present, with many of them already discounting FY26 earnings. Investors should not be in a hurry to take new positions unless there is deep value visible in the counters,&quot; said Deven Choksey, MD, DRChoksey FinServ. <a href="https://www.business-standard.com/markets/news/realty-check-avoid-buying-commercial-real-estate-stocks-caution-analysts-124071900268_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Market Check :: Sensex breaks below 81,000

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Zydus Life Vadodara facility gets OAI report from USFDA, stock falls 3%

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	Shares of Zydus Life fell as much as 2.89 per cent to hit an intraday low of Rs 1,151 per share on Friday. <a href="https://www.business-standard.com/markets/news/zydus-life-vadodara-facility-gets-oai-report-from-usfda-stock-falls-3-124071900301_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Market Check:: Mid, SmallCap indices fall 2%

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This Radhakishan Damani-owned stock has zoomed 16% on bonus issue plan

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	Shares of VST Industries (VST) hit a 52-week high of Rs 4,784.45, as they rallied 16 per cent on Friday, recording its sharpest intra-day rally in recent past after the company announced a maiden bonus issue plan. <a href="https://www.business-standard.com/markets/news/this-radhakishan-damani-owned-stock-has-zoomed-16-on-bonus-issue-plan-124071900246_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Asia stocks dip as geopolitical uncertainty adds headwinds fro investors

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	Asian shares are set to end the week on a sour note, as uncertainty across the geopolitical landscape and in major economies added to headwinds for investors even as the global rate easing cycle gets under way. <a href="https://business-standard.com/markets/news/asia-stocks-dip-as-geopolitical-uncertainty-adds-headwinds-fro-investors-124071900119_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Sanstar IPO opens today; check price band, GMP, should you subscribe?

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	Sanstar Limited IPO will launch its initial public offering (IPO) today, July 19, 2024, aiming to raise Rs 510.15 crores through a book built issue. <a href="https://www.business-standard.com/markets/news/sanstar-ipo-opens-today-check-price-band-gmp-should-you-subscribe-124071900205_1.html?1721365154" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="IPO" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-11/30/full/1701357200-6702.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="IPO" /></div>
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Nifty FMCG in overbought zone; should you lock gains to skip downside?

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	The Nifty FMCG Index is currently in an overbought zone on the charts, despite the overall bullish trend. This positioning suggests that the index may be due for a period of profit booking in the near term. <a href="https://www.business-standard.com/markets/news/nifty-fmcg-in-overbought-zone-should-you-lock-gains-to-skip-downside-124071900045_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="The Nifty FMCG index has remained nearly flat, registering just a 0.3 per cent increase since the start of the 2024 calendar year. As of Wednesday, the FMCG index closed at 57,177.6, compared to 56,987.2 at the end of December 2023." class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-07/03/full/1720029022-349.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 401px;" title="The Nifty FMCG index has remained nearly flat, registering just a 0.3 per cent increase since the start of the 2024 calendar year. As of Wednesday, the FMCG index closed at 57,177.6, compared to 56,987.2 at the end of December 2023." /></div>
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New Listing :: Sahaj Solar lists at Rs 342 vs issue price of Rs 180

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SpiceJet gains 5% on fresh capital raising plan; stock up 12% in 4 days

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	Shares of SpiceJet gained 5 per cent at Rs 58.27 on the BSE in Friday&rsquo;s intra-day trade in an otherwise subdued market after the airline firm said its board will meet on July 23 to consider raising fresh capital including qualified institutional placement (QIP). In the past four trading days the stock has rallied 12 per cent. <a href="https://www.business-standard.com/markets/news/spicejet-gains-5-on-fresh-capital-raising-plan-stock-up-12-in-4-days-124071900163_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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		<img align="" alt="Spicejet" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-03/12/full/1710226475-9121.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 413px;" title="Spicejet" /></div>
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HUL Q1 preview: FMCG major may see volume-led growth in June quarter

Fast moving consumer goods (FMCG) major, Hindustan Unilever (HUL) is set to announce its financial results for the June quarter of fiscal year 2025 (Q1FY25) on July 23, 2024. <a href="https://www.business-standard.com/markets/news/hul-q1-preview-fmcg-major-may-see-volume-led-growth-in-june-quarter-124071900149_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Hindustan Unilever, HUL" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2019-12/18/full/1576615094-2695.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 449px;" title="Hindustan Unilever, HUL" /></div>
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Infosys stock best IT bet post Q1, say analysts; target price increased

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	The second biggest domestic information technology firm registered a 7.1 per cent year-on-year (Y-o-Y) rise in net profit at Rs 6,368 crore for the quarter under review, which was above Bloomberg&rsquo;s estimate of Rs 6,248 crore. However, sequentially, net profit dropped by 20.4 per cent.&nbsp;<a href="https://www.business-standard.com/markets/news/infosys-stock-best-it-bet-post-q1-say-analysts-target-price-increased-124071900148_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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India in early stages of equity cult; budget eyed for populism: Chris Wood

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	Despite the rally in equities over the last few years, India, according to Christopher Wood, global head of equity strategy at Jefferies, is still in early stages of an equity cult. <a href="https://www.business-standard.com/markets/news/india-in-early-stages-of-equity-cult-budget-eyed-for-populism-chris-wood-124071900097_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Sector-check: Barring IT, FMCG, all the sectors trade in red

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Broader markets under pressure; Nifty MidCap slips 0.4%

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Index heatmap check: Infosys top gainer on stronger-than-expected Q1 results

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Opening bell: Nifty opens at fresh record high

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Domestic brokerage Prabhudas Lilladher ups Nifty target to 26,398

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	Domestic brokerage Prabhudas Lilladher (PL) has upped its 12-month forward target for the benchmark Nifty to 26,398 from 25,816 a month ago. <a href="https://www.business-standard.com/markets/news/domestic-brokerage-prabhudas-lilladher-ups-nifty-target-to-26-398-124071800879_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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HDFC Bank Q1 preview: Muted loan, deposit growth to hit profit, margin QoQ

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	Private lender HDFC Bank is scheduled to report the quarterly results for the April to June quarter (Q1) of the current financial year 2024-25 (FY25) on Saturday, July 20, 2024. <a href="https://www.business-standard.com/markets/news/hdfc-bank-q1-preview-muted-loan-deposit-growth-to-hit-profit-margin-qoq-124071800314_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Wipro Q1 preview: Cost control to aid profit; top brass attrition in focus

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	Wipro, one of the leading India information technology (IT) company is set to report its first quarter financial results for the fiscal year 2024-25 (Q1FY25) on Friday, July 19. <a href="https://www.business-standard.com/markets/news/wipro-q1-preview-cost-control-to-aid-profit-top-brass-attrition-in-focus-124071800297_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Stocks to watch, July 19: Infosys, RIL, Vi, LTTS, Tata Consumer, DRL, CEAT

Infosys: Profit down 20.1 per cent to Rs 6,368 crore (Q-o-Q). Other income drops 72 per cent to Rs 733 crore; Revenue grows 3.7 per cent to Rs 39,315 crore. Ebit increases 8.8 per cent to Rs 8,288 crore; Margin expands to 21.1 per cent. The company also raised FY25 revenue growth forecast to 3-4 per cent. <a href="https://www.business-standard.com/markets/news/stocks-to-watch-july-19-infosys-ril-vi-ltts-tata-consumer-drl-ceat-124071900055_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="infosys" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2024-04/19/full/1713466310-4743.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 407px;" title="infosys" /></div>
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Infosys ADR rallies 9% following strong Q1FY25 performance

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Market outlook July 19: Nifty eyes 25,000, but global mood down; key levels

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	Following yesterday&rsquo;s bullish momentum, the market participants are now hopeful that the Nifty may scale the 25,000-mark milestone ahead of the Union Budget 2024, which is due on Tuesday. <a href="https://www.business-standard.com/markets/news/market-outlook-july-19-nifty-eyes-25-000-but-global-mood-down-key-levels-124071900052_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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Asia-Pacific markets fall; Kospi slips 1.3%

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Stock Market Highlights, July 19: Sensex tanks 739 pts, Nifty gives up 24,550 ahead of Budget week

Stock Market Highlights on Friday, July 19, 2024: The selling in the broader market was even steeper with the BSE MidCap and SmallCap indices falling 2.2 per cent each

US markets settle lower on Thursday

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