Share Market News Today | Sensex, Nifty, Share Prices: Domestic benchmark indices closed with gains on Thursday’s weekly expiry session. S&P BSE Sensex added 638 points or 1.22% to close at 52,837 points while the Nifty 50 jumped 192 points or 1.23% to end at 15,824. Bank Nifty closed 0.76% higher at 34,677. Broader markets closed in the green with smallcap indices outperforming benchmark indices. India VIX closed 10% lower. Financials and IT stocks were among the top gainers on Sensex as Tech Mahindra zoomed 5.4% to end as top index gainer, followed by Bajaj Finance, Bharti Airtel, and Bajaj Finserv. Only HUL, Bajaj Auto, Asian Paints, and Mahindra & Mahindra closed with losses.
Zomato shares will make stock exchange debut tomorrow, Friday, 23 July. The new-age internet company recently raised Rs 9,375 crore in a bumper IPO, which saw as much as 38 times subscription.
Rakesh Jhunjhunwala-owned Star Health and Allied Insurance Company Ltd has filed draft papers for its initial public offer (IPO) with capital markets regulator SEBI. The company is owned by Safecrop Investments India LLP, WestBridge AIF I, and ace investor Rakesh Jhunjhunwala, according to the DRHP (draft red herring prospectus). The private health insurer has a 15% market share. According to CRISIL Research, Start Health is a leading private health insurer and the largest retail health insurance company in India. Rakesh Jhunjhunwala-owned Barbeque Nation and Nazara Technologies listed on the stock exchanges recently.
Domestic benchmark indices closed with gains, rebounding strongly after recording losses earlier in the week. India VIX closed 10% in the red. Bank Nifty jumped 0.76%.
Just minuted before the closing bell, India VIX was down 10% sitting at 11.77. The volatility gauge had begun the day’s trade at 13.21.
Sensex and Nifty were back in the green on Thursday just minutes ahead of the closing bell. Sensex zoomed past 52,800 while the Nifty 50 index breached 15,800 once again.
Gland Pharma share price surged over 9 per cent to an all-time high of Rs 4,148.85 apiece on BSE in intraday deals, after the company announced its April-June quarter earnings of FY22. Gland Pharma’s Rs 6,480-crore IPO, India’s biggest pharma public issue, was sold at a price band of Rs 1490-1500 per share. Even as its IPO received a tepid response, the shares saw the listing with a premium of 14 per cent at Rs 1,710 apiece. So far, in little over eight months, this pharma stock has soared 177 per cent from IPO price, while 143 per cent from listing price.
Sensex was nearing 52,700 while the Nifty 50 index was below 15,800 with less than an hour left before the closing bell.
“In first quarter, HUL’s top-line reported growth of ~14% yoy to Rs 1,2194cr on the back of healthy volume growth ( up ~9% yoy) and improvement in realisation. On segment wise, Home Care revenue grew by ~12% yoy, Beauty & Personal Care revenue grew by ~13% yoy, Foods & Refreshme revenue grew by ~12% yoy and Others revenue grew by ~46% yoy. During the quarter, the company has reported healthy growth across the product portfolio. On the EBITDA front, the company has reported Rs 2,921cr and EBITDA margin at 24.0% (down by 116bps yoy due to input cost inflation). On the bottom-line front, PAT grew by ~11% to Rs 2,100cr. Overall 1Q results were in line with expectation.Considering the HUL’s healthy performance, strong brand and wide distribution, we are positive on stock,” said Amarjeet Maurya – AVP – Mid Caps, Angel Broking.
Global tech giant Microsoft is in discussions with the Telangana government on a proposal for setting up one of its largest data centres with an investment outlay of about USD 2 to 2.25 billion here, sources close to the development said on Thursday.
Shares of Gland Pharma on Thursday jumped nearly 8 per cent after the company reported an 11.83 per cent increase in its consolidated net profit for the quarter ended June 30, 2021. It zoomed 7.50 per cent to Rs 4,087.65 — its 52-week high — at the BSE.
The pull back towards close after testing 15600, is encouraging, but not enough to cross the wall of worry. A test of 15450 would have convinced us better to play the upsides. Alternatively, a direct rise above 15687 would prompt us to chase upsides, but would approach the 15755-774-870 levels with caution. In anticipation of this upmove rolling in the next few days as well, we would look to buy dips today, with 15645 identified as the downside marker.
~ Geojit Financial Services
Nifty Realty index has outperformed the benchmark Nifty 50 index during the month of July, surging 17% so far. The real estate index was up 2.51% on Thursday, inching closer to a fresh 52-week high, helped by a sharp up-move in stocks such as India Bulls Real Estate, Phoenix, Prestige, and DLF. Real estate stocks have been gaining momentum as the sector emerges out of a multi-year consolidation. “The Real Estate sector has gone through a supply and demand side consolidation phase over the last few years, which is now starting to benefit the large developers,” Ujjawal Kumar, Analyst, Green Portfolio told Financial Express Online.
Zomato IPO share allotment has been finalised on Thursday, 22 July 2021. The online restaurant discovery and food delivery platform IPO, which was launched last week, saw strong demand from investors, subscribing 38.25 times on the final day. In the grey market on Monday, Zomato shares were quoting at a premium of Rs 23.75 apiece, from Rs 19, earlier this week. The shares were trading at Rs 99.75 apiece, implying a premium of 31.25 per cent over the IPO price, according to the people who deal in shares of unlisted companies.
Bank Nifty was up 1.3% on Thursday, sitting at 34,891 levels. IDFC First Bank, IndusInd Bank, ICICI Bank, and Federal Bank were among the top gainers.
“The immediate supports for the Nifty are placed around 15550 and 15450 whereas 15730-15750 is seen as immediate resistance. Traders are advised to avoid aggressive positions and look for stock-specific trading opportunities,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking.
Rakesh Jhunjhunwala acquired 1 crore shares or a 2.17 per cent stake in Indiabulls Housing Finance firm in the April-June quarter of FY22. Jhunjhunwala did not hold any stake in this housing finance firm in the March 2021 quarter. This comes after the ace investor raised stakes in companies such as Federal Bank, SAIL, Edelweiss Financial Services in the quarter of the current fiscal.
In the Bank Nifty, our advice is to remain bearish with stop loss of 35000 levels. On the lower side, support is seen in the vicinity of 33800-34000 levels.
~ HDFC Securities
Nifty has crosses 15,800 on Thursday morning, the index is up 170 points or 1.09%.
India was the second most favoured country for foreign investors looking to invest in emerging markets across the globe. “Brazil, India and Indonesia saw notable FII inflows among the key emerging markets we track, while South Africa and Taiwan saw big outflows,” brokerage firm CLSA said in a note. Foreign Institutional Investors (FII) pumped in $2.4 billion into domestic markets during the previous month, turning net buyers after two consecutive months of outflows. FII money found its way into IT stocks, discretionary, healthcare and staples while pulling money out of banks, energy, industrials and utilities, CLSA said.
“Both Nifty and Bank Nifty futures added shorts whereas volumes were not explosive. 15,700Calls witnessed maximum built-up while Put writers were on the back foot. Nifty nearly manager to remain within the consolidation setup on Tuesday. Bias will turn positive again if Nifty closes above 15,700 today. 15,632 on closing basis should be the stop loss for long positions,” said Rahul Sharma, Direct & Head – Research, JM Financial.
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading lower in India on Thursday, following the global rates as the dollar remained strong. On Multi Commodity Exchange, gold August futures were trading Rs 128 or 0.27 per cent down at Rs 47,445 per 10 gram, as against the previous close of Rs 47,573. Silver September futures fell Rs 98 or 0.15 per cent to Rs 67,039 per kg.
According to options data, the Nifty is likely to face a hurdle at 15800 as substantial Call writing was seen. Nifty futures ended at a premium of 5 points while IV was up by 3.94%. The major Put base is at 15500 strike with 35 lakh shares while the major Call base is at the 15800 strike with 58 lakh shares.
~ ICICI Securities
Sensex breached 52,700 on Thursday morning as bulls returned to Dalal Street. Nifty was nering 15,800.
“The market pendulum swinging between risk-on & risk-off has become a trend now. However, the 15600 – 15900 range is unlikely to hold for long. If the upper band of 15900 is to be broken decisively, the essential requirement would be FIIs ceasing to sell at this level. But even on Tuesday FIIs sold heavily (Rs 2385 cr). So watch out for FII activity. Meanwhile, the Delta variant scare, which led to the market sell-off on Monday on Wall Street, appears to have died down. Dr Fauci’s statement yesterday that the vaccines are effective against all variants is reassuring. Results declared recently show pressure in financials like banks, insurance firms and NBFCs like Bajaj Finance. But these pressures are likely to be short-lived. Asian Paints’ excellent numbers indicate that there are pockets of business coming out with flying colours in these pandemic times,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Nifty Pharma, down 0.11% was the only sectoral index to be trading with losses on Thursday morning.
“With the reporting of robust corporate earnings, the US markets advanced and the Dow Jones rose by 0.83%, the S&P 500 up by 0.82% and the Nasdaq Composite up by 0.92%. The Asian markets surged early Thursday. European Central Bank meeting and policy announcement later today will be closely tracked. The Asian Development Bank has downgraded India’s economic growth forecast for the current financial year to 10 percent as inflation is seen rising marginally to 5.5%. Government is considering selling its 7.93% stake in ITC, the nation’s top cigarette maker, to meet its disinvestment target for the year. Immediate support and resistance for Nifty 50 are 15,550 and 15,850 respectively,” said Mohit Nigam, Head, PMS – Hem Securities.
Domestic benchmark indices opened with gains on Thursday. Broader markets outperform, Bank Nifty above 34,700. India VIX was down 3%.
Sensex closed in on 52,500 during the pre-open session on Thursday, adding 296 points or 0.57%.
Sensex was above 52,400 during the pre-open session while Nifty was comfortably past 15,700.
Sensex and Nifty soared higher during the pre-open session on Thursday morning. Nifty was above 15,700 while Sensex crosses 52,300 once again.
Nifty, Bank Nifty Outlook: In the current weekly series, Nifty has witnessed a Short Build Up with decrease in price of -1.23% and an increase in OI by 1.39% as of Tuesday wherein there was addition of 1.29 lakh shares in OI, increasing from 93.23 lakh to 94.53 lakh shares. Nifty July rollover stands at 13% as of Wednesday. Nifty Put Call Ratio, a sentiment indicator, used by traders to gauge the market sentiment and mood, is currently at 0.81 compared to 1.37 of last week, indicating neutral-to-positive bias. India VIX, a market volatility indicator often called the fear gauge, is currently trading 13.20% compared to 12.27% of last week. Implied Volatility of Nifty ATM options for the current series is at 13.94% in contrast to 12.13% of last week, indicating higher volatile movement on either side in the coming session.
Our advice is to remain bearish and use a pullback rally to prune long positions and wait for Nifty to close above 15800 level for building long positions. On the lower side, 15500-15600 level will act as immediate support where Puts have been written.
~ HDFC Securities
“After falling over 300 points in the last 2 trading sessions, Nifty is expected to open with a gap up of about 120 points at 15750, traders are advised not to initiate longs at the opening, let the markets settle and enter longs if markets show further strength. 15750 and 15830 will act as key resistance levels while 15580 will act as strong support,” said Gaurav Udani, CEO & Founder, ThincRedBlu Securities.
“The Nifty IV climbed to 14% from 13% indicating a rise in volatility expectations. The Nifty OI PCR declined to 0.81 from 0.89 in the previous session, indicating there was more buildup of OI in the Call segment. In the weekly option chain, buildup of OI was seen in the 15800- 15700 Calls. Combined with a fall in the option price, it indicates that call writing has happened at these strikes implying immediate resistance at these levels for the near term. In fact, traders have sold call options worth nearly Rs1.36 lakh crore on Tuesday, indicating when negative sentiment is at its peak, market strat moving upwards. Put buying was seen in the 15500 strikes indicating that certain traders were taking a bearish view. Going ahead, a decisive close above 15800 would open the door toward our earmarked target of 16000. Failure to do so would lead to prolonged consolidation (16000-15500) with stock-specific action,” said Raushan Kumar, Derivative Analyst, IIFL Securities.
SGX Nifty was up 150 points, extending its lead ahead of the opening bell on Thursday morning. Nifty futures were hinting at a positive start for domestic equities.
A short build-up in the Bank Nifty Futures, short build-up in the Nifty Futures, fall in the Nifty Open Interest Put-Call ratio on the back of Call writing at 15700-15750 levels and short build-up by the FIIs’ in the Index futures segment Indicates that one should be cautious for the markets.
~ HDFC Securities
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of Petrol and Diesel were left unchanged at record highs for the fifth day straight on Thursday by oil marketing companies as crude prices moved southwards. Petrol in the national capital today costs Rs 101.84 per litre, while Diesel in the capital city is retailing at Rs 89.87 per litre. Fuel prices have increased 41 times since May 4 and ten times this month already, sitting at all-time highs. The price of petrol in Delhi has increased by Rs 11.15, while diesel price has surged Rs 10.80 per litre since the rates started increasing more than 2 months back. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.
BSE-listed companies such as Hindustan Unilever Ltd, Ultratech Cement, Bajaj Auto, Hindustan Zinc, ICICI Lombard Genenral Insurance Company, Biocon, Mphasis, Bajaj Holdings, Persistent Systems, IndiaMART InterMESH, Bank of Maharashtra, and IEX will announce their April-June quarter earnings on 22 July.
“Technically Nifty formed a Bearish candle on daily scale and continued its lower highs – lower lows formation of the last two sessions. Key support now stands at around 15,500 zones while on the upside the index may face resistance around 15,800 levels. The Q1 result season has so far been in-line to better than expectations – leading to sector /stocks specific action – which is likely to continue in the near term as well. Also, it may provide investors with some insights into the scale of economic recovery through the management commentaries. Market has seen some sell off from its recent life highs on the back of weak global cues. While the declines are being bought into, follow up is missing at higher levels suggesting some fatigue creeping in. Hence it would be a tough fight between the Bulls and Bears in the coming days and one needs to remain watchful of possible movement in either direction,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
SGX Nifty was up 119 points on Thursday morning. Domestic markets return to action after a brief one-day pause.