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Market LIVE: Sensex tops 53,000, Nifty nears 15,900 on F&O expiry day; Infosys at record high post Q1 results – The Financial Express

Barring Nifty Auto, all the sectoral indices were trading in the green on Thursday

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market indices BSE Sensex and Nifty 50 were trading in the positive territory on Thursday, a day of weekly F&O expiry. BSE Sensex was ruling above 53,000 while the broader Nifty 50 index was nearing 15,900. L&T, HCL Tech, Tech Mahindra, HDFC Bank, Dr. Reddy’s Laboratories, Infosys, RIL, HUL were among top Sensex gainers. Infosys share price hit a record high level of 1,597.25 apiece on BSE, a day after it announced Apr-Jun quarter earnings. Titan Company, Mahindra and Mahindra, Housing Development Finance Corporation (HDFC), Asian Paints, ITC, Maruti were top index laggards. Barring Nifty Auto, all the sectoral indices were trading in the green on Thursday. Bank Nifty was up 0.21 per cent, Nifty IT 0.4 per cent.

The much-awaited Zomato’s Rs 9,375 crore IPO was subscribed 1.07 times on day one of the bidding process. While retail investors were the first to fully subscribe to the issue, Qualified Institutional Buyers (QIB) have so far bid for 98% of the portion reserved for them and Non-Institutional Investors (NII) have bid for 12% of the reserved portion. Employees of Zomato have subscribed 18% of their portion.

Zomato is possibly staring at big expansion plans after it goes public this month, raising Rs 9,375 crore in its ongoing IPO. It is likely that food delivery behemoth Zomato may step up its hiring post the IPO success, London-based data analytics and consulting firm GlobalData said. “The company is likely to hire more and script a new chapter in its business expansion plans to remain competitive in the Indian online food delivery market,” Ajay Kumar Thalluri, Business Fundamentals Analyst at GlobalData, said.

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Ace investor Rakesh Jhunjhunwala, his wife Rekha Jhunjhunwala, and eight other individuals on Wednesday settled a case related to insider trading in the shares of Aptech Ltd after paying more than Rs 37 crore. The amount included settlement charges, disgorgement of ill-gotten gains along with interest charges.

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The Nifty is slowly inching towards the 15900 level. 15915 (the high recorded on 28 June 2021) is the precise level we need to close above. If the index manages to do that, we should be able to scale higher to 16100. The bias for the current market is on the upside and hence dips and corrections can be used to accumulate long positions. 15400 is good support and as long as we do not break that on a closing basis, we are in bullish terrain. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading near a four-week high on Thursday, mirroring the global trends. On Multi Commodity Exchange, gold August futures were trading flat with positive bias at Rs 48,307 per 10 gram, as against the previous close of Rs 48,299. Silver September futures were ruling at Rs 69,575 per kg, up Rs 163 or 0.23 per cent.

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Domestically, equity markets are trading into the consolidation phase as both global and domestic cues are very much mixed. However, FII/FPIs seems booking their profits as they have sold almost INR 3670 crore worth of Indian stocks in July after whopping investments of more than INR 17,000 in June. Probably, easing the domestic COVID situation and IPO spree could limit the outflow. Now the focus shift towards today’s release of India’s June trade balance. After easing COVID restrictions up to some extent in June, both business activity and demand for goods have picked up well. Overall, we might see a jump in both the import and exports figures. Broadly, on account of higher oil import prices, the deficit is likely to remain elevated. On the fiscal front, this year also the deficit is likely to miss the target easily as the government is going the extra mile to support the economy. This could keep the Rupee on its toes and limit the appreciating move beyond 74.00 levels over the medium term. Amit Pabari, managing director, CR Forex Advisors

Barring Nifty Auto, all the sectoral indices were trading in the green on Thursday. Bank Nifty was up 0.21 per cent, Nifty IT 0.4 per cent. 

Titan Company, Mahindra and Mahindra, Housing Development Finance Corporation (HDFC), Asian Paints, ITC, Maruti were top index laggards

L&T, HCL Tech, Tech Mahindra, HDFC Bank, Dr. Reddy’s Laboratories, Infosys, RIL, HUL were among top Sensex gainers

Infosys share price fell after hitting a record high level of 1,597.25 apiece on BSE, a day after it announced Apr-Jun quarter earnings.

BSE Sensex jumped over 100 points to trade above 53,000, while the broader Nifty 50 index neared the crucial 15,900 on F&O expiry day.

Check Live Sensex, Nifty levels

Rising DXY, falling bond yields and FII outflows did affect our markets but it seems domestic flows have helped the market stay afloat. Monsoon picking up, re-opening of travel, steady vaccinations and low impact of a third covid wave, should help the markets stay up. Rahul Sharma, Head, Technical and Derivatives Research, JM Financial Services

In the July series till now, we have seen Bank Nifty outperforming Nifty and we expect it to continue from here on as well. Traders should create long in the Bank Nifty with the stop loss of 35400 levels. On the higher side, we expect Bank Nifty to cross 36000 resistance and go beyond. Nandish Shah, Senior Derivative & Technical Analyst, HDFC Securities

Nifty continued its northward journey for the third day on the trot where it gained by 42 points to close at 15854 levels. We have seen long build up in the Nifty Futures where OI has risen by 5%(Prov) with rising by 0.26%. Nifty Open Interest Put Call ratio rose to 1.24 levels from 1.10 levels on the back of Put writing at 15750-15800 levels. Therefore, for Thursday’s weekly expiry, we expect Nifty to do well. For traders our advice is to remain bullish with the stop loss of 15750 levels. On the higher side 15950-16000 levels to act as a resistance where calls have been written. Nandish Shah, Senior Derivative & Technical Analyst, HDFC Securities

In the Nifty current series, a Long Build up has been witnessed with marginal increase in price of 0.23% and increase in OI by 2.14% as on Wednesday wherein there was addition of 1.99Lac shares in OI, increasing from 93.23lac to 95.22Lac shares. Nifty July rollover stands at 8.48% as on Wednesday. Nifty Put Call Ratio, a sentiment indicator used by traders to gauge the market sentiment and mood, is currently at 1.23 compared to 1.06 of last week, indicating positive bias.

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It has again reached closer to the upper band of its prevailing consolidation range i.e. 15,900 ahead of the weekly expiry. On Thursday, markets will first react to the earnings announcements of Infosys which came in after the market hours. Needless to say, a decisive breakout above 15,900 would help the index to inch higher, else we might again see the resumption of profit taking. Taking cues from the derivatives stats, 15,900 CE holds the OI of nearly 75k contracts and 16,000 CE having the OI of 80k. On the downside, 15,800 PE strike holds the highest OI of more than 81k contracts. This indicates we may see the weekly expiry closer to 15,900 levels. Ajit Mishra, VP – Research, Religare Broking

Nifty started the week marginally positive and managed to form a support base around the 15650 mark. During the week, initially call writers were aggressively forming positions at 15800 strike, but as the index surpassed that hurdle on Tuesday, they ran to cover their positions. Now, 15800 put has highest open interest indicating support level for the expiry day, while resistances are seen at 15900 followed by 16000. Further, FII’s have covered some of their shorts in last couple of days and also formed marginal longs. The data indicates probability of a rangebound expiry session with more stock specific action is likely to continue. One can keep a close eye on BANKNIFTY and if the index sustains above 35810 (spot level) for 5 – 10 mins, one can look to buy at-the-money CALL for BANKNIFTY, because this development will lead to a strong buying in the banking space. Sameet Chavan, Chief Technical Analyst, Angel Broking

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of Petrol and Diesel were hiked on Thursday by oil marketing companies, after a brief two-day pause. Petrol in the national capital now costs Rs 101.54 per litre, up 34 paise since yesterday, while Diesel in the capital city is retailing at Rs 89.87 per litre, an increase of 15 paise. Fuel prices have increased 40 times since May 4. The price of petrol in Delhi has increased by Rs 10.85, while diesel price has surged Rs 10.80 per litre since the rates started increasing. 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.

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BSE-listed companies such as Larsen & Toubro Infotech, Wipro, Tata Elxsi, Cyient, Angel Broking, Tata Steel, Long Products, Aditya Birla Money, Cyient, Rama Paper Mills and Rollatainers will announce quarterly earnings on 15 July 2021.

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The upmove with range bound action continued in the market on Wednesday and Nifty closed the day higher by 41 points. After opening on a weak note, the Nifty slipped into weakness in the early part of the session. A sustainable upside recovery has emerged from the day’s low of 15,764 in the early-mid part and the market showed intraday range movement in the afternoon to the later part of the session.

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In overnight trade on Wall Street, Dow Jones and S&P 500 gained, while the tech-heavy Nasdaq Composite fell.

Domestic stock markets climbed higher on Wednesday, rebounding strongly after weak initial few hours of trade. S&P BSE Sensex gained 0.25% to end at 52,904 while Nifty 50 jumped 0.26% and closed at 15,853. Benchmark indices outperformed broader markets, except Smallcap indices. On Thursday morning, ahead of the weekly expiry session, SGX Nifty was up in the green signalling positive momentum ahead of the day’s trade. Global cues were mixed after Wall Street equity indices closed in opposite directions. 

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Asian stock markets were trading mixed in early trade on Thursday, as investors await China’s second-quarter GDP data. Japan’s Nikkei 225 was down nearly one percent in morning trade while the Topix index shed 0.77 per cent. South Korea’s Kospi advanced 0.15 per cent. 

Zomato’s much-awaited initial public offering has been fully subscribed by investors on the first day of bidding. So far the IPO has been subscribed 1.07 times, led by retail investors who have oversubscribed their portion of the issue. The Rs 9,375 crore IPO opened for subscription today morning after having raised Rs 4,200 crore from anchor investors. Investors can still bid for the public issue at the set price range of Rs 72-76 per share, till Friday evening.

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