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Stock Market Highlights: Tech View: Nifty bulls strong till 24,200. Here’s how to trade next week
05 Jul 2024 | 08:11:10 PM IST
Nifty ended Friday’s session 22 points higher to form a bullish counterattack type candle pattern, which signals a possible comeback of bulls after a small dip.
The underlying trend of Nifty continues to be positive. There is a possibility of an upside breakout hurdle around 24400-24500 levels in next few sessions. Immediate support is at 24170 levels, said Nagaraj Shetti of HDFC Securities.
Show moreThe underlying trend of Nifty continues to be positive. There is a possibility of an upside breakout hurdle around 24400-24500 levels in next few sessions. Immediate support is at 24170 levels, said Nagaraj Shetti of HDFC Securities.
1 New Update
Dabur sees improvement in demand, rural growth in Q1
Dabur reported sequential improvement in demand trends during the June quarter, particularly in rural areas. The company anticipates further acceleration in the coming months, citing a favorable monsoon forecast and sustained government focus on macroeconomic growth.
US stocks open muted after non-farm payrolls data
Wall Street opened flat on Friday following data revealing a slowdown in US job growth in June, albeit at a still-healthy pace. The Dow Jones Industrial Average saw a marginal increase of 0.01%, while the S&P 500 and Nasdaq Composite edged up by 0.02% and 0.07% respectively at the opening bell.
Central banks should have independence to deliver on price stability: John C Williams
A top Federal Reserve official emphasized the need for central banks to be held accountable for maintaining price stability and to be granted the independence necessary to achieve this goal. In a talk at the Reserve Bank of India headquarters, John C. Williams, President and CEO of the Federal Reserve Bank of New York, highlighted the ongoing uncertainty in monetary policy and its implications for the foreseeable future.
Adani Wilmar Q1 Update: Robust volume growth at 13% YoY
- Total sales volume up 13% YoY; total sales value up 11%
- Food and FMCG business volume grew by 23% YoY
Crypto hacking thefts double to $1.4 bln in first half, say researchers
Cryptocurrency thefts in the first half of 2024 have more than doubled compared to the same period in 2023, surpassing $1.38 billion, according to blockchain research firm TRM Labs. This surge in stolen crypto is attributed to a few large-scale attacks and the increasing value of cryptocurrencies. The median theft size has also grown significantly, highlighting the evolving sophistication of cybercriminals targeting the crypto space.
Marico Q1 update: Domestic business reports modest uptick on volume; margins improve
Fast-moving consumer goods maker Marico on Friday said its domestic business posted a "modest uptick" in volume growth in the first quarter on a sequential basis and expects gross margin to expand year on year. The overall demand trends in the first quarter continued to exhibit gradual improvement on the expected lines, said Marico, which owns brands such as Saffola, Parachute, Hair & Care, Nihar and Livon, among others.
The company recorded volume growth post adjustments in distributor stock levels and a certain degree of wholesale channel destocking to ensure smoother direct reach expansion, said Marico in its quarterly update for the first quarter.
Key brands such as "Parachute Coconut Oil posted low single-digit volume growth in this quarter, but is likely to pick up visibly through the rest of the year given the consistently healthy trends in offtake growth", said Marico.
The company recorded volume growth post adjustments in distributor stock levels and a certain degree of wholesale channel destocking to ensure smoother direct reach expansion, said Marico in its quarterly update for the first quarter.
Key brands such as "Parachute Coconut Oil posted low single-digit volume growth in this quarter, but is likely to pick up visibly through the rest of the year given the consistently healthy trends in offtake growth", said Marico.
Price as on 06.03.34 PM, Click on company names for their live prices.
Dabur Q1 update: Q1 operating profit expected to grow marginally
- Q1 operating profit expected to grow marginally
- Gross margins likely to witness growth
- Quarter sees sequential improvement in demand
Price as on 05.54.34 PM, Click on company names for their live prices.
Titan Q1 update: Business grows 9% YoY; co adds 61 stores
Consumer discretionary major Titan Ltd registered 9% year-on-year growth in its business for the first quarter ended June 2024. The company had added a total of 61 stores during the reporting period, taking the company's total retail presence to 3,096 stores.
Price as on 05.50.31 PM, Click on company names for their live prices.
IndusInd Bank Q1 Update: Net advances jump 16% YoY to Rs 3,48,107 crore
Private lender IndusInd Bank reported net advances at Rs 3,48,107 crore for the quarter ended June 30, 2024 which was up 16% over Rs 3,01,317 crore reported by the company in the corresponding quarter of the last financial year. Deposits grew by 15% YoY to Rs 3,98,632 crore in the reporting quarter up from Rs 3,47,347 crore in the year ago period.
Price as on 05.47.54 PM, Click on company names for their live prices.
Bullish Nifty forms counterattack candle, signals potential upside
Nifty ended Friday’s session 22 points higher to form a bullish counterattack type candle pattern, which signals a possible comeback of bulls after a small dip.
The underlying trend of Nifty continues to be positive. There is a possibility of an upside breakout hurdle around 24400-24500 levels in next few sessions. Immediate support is at 24170 levels, said Nagaraj Shetti of HDFC Securities.
The underlying trend of Nifty continues to be positive. There is a possibility of an upside breakout hurdle around 24400-24500 levels in next few sessions. Immediate support is at 24170 levels, said Nagaraj Shetti of HDFC Securities.
Nifty Bank closes lower; support seen around 52,000 next week: Experts
The Nifty Bank closed lower for the second consecutive day in a row on Friday tracking muted cues and profit booking at higher levels. For the week, the Nifty Bank closed with gains of 0.6%.
The Nifty Bank fell more than 400 points to close at 52,660 while the Nifty50 rose more than 21 points to close at 24,323 on Friday.
PNB, Bank of Baroda, SBI, and The Federal Bank were among top gainers while selling was seen in AU Small Finance Bank, IndusInd Bank, Bandhan Bank, and HDFC Bank.
The Nifty Bank fell more than 400 points to close at 52,660 while the Nifty50 rose more than 21 points to close at 24,323 on Friday.
PNB, Bank of Baroda, SBI, and The Federal Bank were among top gainers while selling was seen in AU Small Finance Bank, IndusInd Bank, Bandhan Bank, and HDFC Bank.
Rupee closes flat, logs weekly decline; US jobs data in focus
Sector View: Oil & gas, pharma, PSU Bank stocks shine
The Bank Nifty index witnessed a volatile trading session, mainly declining due to a fall in HDFC Bank. The index is currently stuck in a range with resistance visible at 53000-53200, where aggressive call writing is observed, and support at the 52300-52100 zone. The index needs to break decisively on either side for trending moves. However, within the range, the view remains bullish, and declines should be utilized to buy the index.
- Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
Nifty finishes on a positive note; RIL jumps 3%
Sensex Heatmap: 16 of 30 Sensex stocks end in the green
Closing Bell: Sharp U-turn on D-St! Sensex ends 53 points lower
Sensex Today | Stock Market LIVE Updates | Market-cap of BSE listed companies hits Rs 450 lakh crore
Sensex Today | Stock Market LIVE Update | RIL leads Sensex in green
Stock Market LIVE Updates | Sensex earses all losses, turns positive
Sensex Today | Stock Market LIVE Updates | NTPC Green aims to file papers for up to Rs 8,500-crore IPO in September: Agencies
Sensex Today | Stock Market LIVE Updates | Sensex down 400 points
Sensex Today | Stock Market LIVE Updates | Bansal Wire IPO booked nearly 19x so far on last day. Check GMP and other details
The response for the initial public offer (IPO) of Bansal Wire picked up pace on Day 3, the last day of bidding, driven by strong interest from QIB and non-institutional investors.
The overall subscription stood at 18.78x so far. The categories reserved for NII and QIB investors were subscribed 34 times and 21 times, respectively. Meanwhile, the retail portion of the issue was subscribed the least at 10.54 times.
The overall subscription stood at 18.78x so far. The categories reserved for NII and QIB investors were subscribed 34 times and 21 times, respectively. Meanwhile, the retail portion of the issue was subscribed the least at 10.54 times.
Bitcoin set for worst week in over a year on Mt. Gox liquidation fears
Bitcoin was set for its biggest weekly fall in more than a year on Friday, as traders fretted over the likely dumping of tokens from defunct Japanese exchange Mt. Gox and further selling by leveraged players after the cryptocurrency's strong run.
The price of the world's largest cryptocurrency slid as much as 8% on the day to $53,523, its lowest since late February.
The price of the world's largest cryptocurrency slid as much as 8% on the day to $53,523, its lowest since late February.
Crude oil futures decline on low demand
Crude oil futures dropped by 0.17% to Rs 7,012 per barrel on Friday as traders reduced their holdings amidst decreased demand. On the Multi Commodity Exchange, crude oil for July delivery decreased by Rs 12 or 0.17% to Rs 7,012 per barrel, with a trading volume of 6,895 lots. Meanwhile, globally, West Texas Intermediate crude oil saw a marginal increase of 0.02%, trading at USD 83.90 per barrel, whereas Brent crude was down by 0.08% to USD 87.36 per barrel in New York.
Stock Market LIVE Updates | BLOCK DEAL: Poonawla Fincorp's 20.9 lakh shares change hands
Price as on 12.57.17 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates| HDFC Bank mulling sale of loans portfoilio
Price as on 12.38.12 PM, Click on company names for their live prices.
Australian shares dip ahead of US payrolls data
Sensex Today | Stock Market LIVE Updates | IOC, HPCL, BPCL in talks with Brazil's Petrobras for long-term oil deals: Reports
Price as on 12.13.20 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Kalyan Jewellers reports 27% revenue growth in Q1 FY'25, plans expansion
On Friday, Kalyan Jewellers announced a notable 27% year-on-year growth in consolidated revenue for the first quarter of the financial year 2024-25. This increase was fueled by robust performance in both the Indian and Middle Eastern markets. In the corresponding period of the previous fiscal year (2023-24), the company had reported consolidated net revenue of Rs 4,376 crore for the first quarter (April-June).
Price as on 11.44.49 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Buzzing! Raymond skyrocktes over 16%
The company approves demerger of its real estate arm, Raymond Realty subject to approval of shareholders and regulators.
Stock Market LIVE Updates | Trent's market cap hits Rs 2 lakh crore
Price as on 11.05.40 AM, Click on company names for their live prices.
Stock Market LIVE Updates | IDBI Bank: Lender says total deposits rose 13% year-on-year in June quarter.
Price as on 10.59.34 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Zaggle Prepaid gets order from Hero MotorCorp
Price as on 10.56.53 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Raymond stock soars 8% after company approves demerger of its real estate arm, Raymond Realty subject to approval of shareholders and regulators.
Price as on 10.51.47 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | 20 Lakhs shares of Restaurant Asia traded in a bunch
Price as on 10.51.40 AM, Click on company names for their live prices.
Stock market today | With US markets closed, Asian shares slip and European shares gain
- On Friday, Asian shares declined following strong gains in European markets overnight, with U.S. markets closed for the July 4th holiday.
- Japan’s Nikkei 225 index briefly exceeded 41,000 early in the day before retracing from its record close of 40,913.65 on Thursday.
- U.S. futures saw a slight increase while oil prices declined.
Stock Market LIVE Updates | Indian bond yields flat; debt auction, US jobs data on tap
Indian government bond yields were flat in the early session on Friday, with the benchmark yield hovering around the 7% mark, while traders eyed demand for fresh debt supply at an auction and key U.S. jobs data for cues.
The benchmark 10-year yield was at 6.9990% as of 10:00 a.m. IST, following its previous close at 6.9994%.
The benchmark 10-year yield was at 6.9990% as of 10:00 a.m. IST, following its previous close at 6.9994%.
CRYPTO NEWS | Bitcoin down 8% at $53,918; Ether down 9% at $2,855
Sensex Today | Stock Market LIVE Updates | Pharma stocks defy market mood, trade higher
Price as on 09.56.26 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Bank stocks under pressure
Price as on 09.57.28 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Sensex drops over 500 pts; HDFC Bank top drag
Rupee rises 5 paise to 83.45 against US dollar in early trade
Sensex Today | Stock Market LIVE Updates | Nifty below 24,300
Sensex Today | Stock Market LIVE Updates | Sensex drops over 400 pts
Sensex Today | Stock Market LIVE Updates | Opening Bell
Sensex drops over 400 pts, Nifty below 24,300; HDFC Bank falls 3%
"FIIs’ huge long position in the index derivatives and strong buying in the cash market can support the market in the near term. An important trigger may come from the US jobs data expected today. If the jobs data show a loosening labour market and a slowing economy, it can lead to rate cuts by the Fed in September. So, watch out for this data.At 80000 Sensex there is no valuation comfort in the market. Investors should expect only moderate returns in the medium term at the present levels. Long-term prospects are certainly bright and, therefore, investors can continue with systematic investment. Asset allocation based on risk appetite should be the strategy at this juncture in the market."
- V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Stock Market LIVE Updates | Japanese shares climb record peaks; market eyes US data
On Friday, Japan's Nikkei share average and the broader Topix index both reached historic highs, although they retreated slightly as investors took profits and positioned themselves cautiously ahead of crucial U.S. economic data scheduled for later in the day.
The Nikkei index surpassed its previous record set on March 22, climbing to a peak of 41,100.13 earlier in the session. Similarly, the broader Topix index reached an all-time high of 2,906.80, surpassing its previous record set in December 1989, which occurred just the day before.
The Nikkei index surpassed its previous record set on March 22, climbing to a peak of 41,100.13 earlier in the session. Similarly, the broader Topix index reached an all-time high of 2,906.80, surpassing its previous record set in December 1989, which occurred just the day before.
Sensex Today | Stock Market LIVE Updates | F&O Ban List: Bandhan Bank, Hindustan Copper among 5 stocks under trade ban on Friday
Five stocks are under an F&O trade ban on Friday viz. Aditya Birla Fashion & Retail (ABFRL), Bandhan Bank, Hindustan Copper, India Cements and Piramal Enterprises (PEL)
Sensex Today | Stock Market LIVE Updates | Angel One says June number of orders up 87.3% YoY
Sensex Today | Stock Market LIVE Updates | Global Markets Update
- S&P 500 futures were little changed as of 9:07 a.m. Tokyo time
- Hang Seng futures were little changed
- Japan’s Topix was little changed
- Australia’s S&P/ASX 200 fell 0.2%
- Euro Stoxx 50 futures rose 0.4%
Stock Market LIVE Updates | Oil prices on track for fourth straight week of gains
Oil prices were little changed in Asian trade on Friday but were on track for a fourth straight week of gains and holding near their highest levels since late April on hopes of strong summer fuel demand and some supply concerns.
Brent crude futures, which have risen 7% over the last four weeks, slipped 2 cents to $87.41 a barrel by 0143 GMT.
Brent crude futures, which have risen 7% over the last four weeks, slipped 2 cents to $87.41 a barrel by 0143 GMT.
Sensex Today | Stock Market LIVE Updates | Asia stocks notch records; pound calm after Labour landslide
Asian stock markets reached new highs on Friday, buoyed by expectations of U.S. interest rate cuts in September and a positive investor sentiment. The euro reached a three-week high in anticipation of French elections.
Sterling held steady at $1.2767 amidst predictions of a decisive victory for Britain's Labour Party, which would end 14 years of Conservative rule. Meanwhile, the dollar showed slight weakness, and Treasury yields inched up in Tokyo following the U.S. Independence Day holiday.
Sterling held steady at $1.2767 amidst predictions of a decisive victory for Britain's Labour Party, which would end 14 years of Conservative rule. Meanwhile, the dollar showed slight weakness, and Treasury yields inched up in Tokyo following the U.S. Independence Day holiday.
CRYPTO NEWS | Bitcoin down 2.5% at $56,840; Ether down 1.9% at $3,081
Stock Market LIVE Updates | Dollar at three-week lows; pound takes UK election in stride
On Friday, the U.S. dollar remained close to its lowest point in three weeks, with upcoming payroll data expected to impact interest rate expectations. Meanwhile, the British pound held steady, supported by expectations of a significant majority win for the Labour party in the UK general election.
Sterling traded at $1.27575 in early trading, showing minimal movement and staying near its recent high of $1.27765 reached on Wednesday.
Sterling traded at $1.27575 in early trading, showing minimal movement and staying near its recent high of $1.27765 reached on Wednesday.
