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Share Market LIVE: Sensex crosses 53,000, Nifty just shy of 15,900; UltraTech Cement, HDFC Bank top gainers – The Financial Express

India VIX moved higher.
(Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic headline indices opened flat on Tuesday morning, moving between gains and losses. Minutes into the day’s trade Sensex was at 52,944 while the Nifty 50 index was just above 15,850. Bajaj Finance, HDFC Bank, and Ultrtech Cement were the top index gainers. On the other end of the table were Tech Mahindra, Nestle India, and Bharti Airtel. Broader markets were outperforming benchmark indices, while India VIX was up in the green. Nifty FMCG and Nifty Pharma were the only two sectoral indices to trade with losses. Bank Nifty as up 0.30%

The much-awaited initial public offering (IPO) of Zomato could hit Dalal Street soon after capital markets regulator SEBI approved the offer as proposed in the DRHP. Zomato plans Rs 8,250 crore public issue which will be an amalgamation of fresh issue of equity shares and an offer for sale (OFS).’s parent company, Info Edge, the selling shareholder of Zomato has trimmed the stake it plans to offload by half, which may reduce the overall issue size. Info Edge is a key shareholder of Zomato, with a stake of about 18.55% in the food delivery platform. Zomato’s IPO is keenly awaited by investors. Zomato had filed preliminary IPO papers with SEBI in April.

PI Industries, Hindustan Petroleum Corporation, IGL, Petronet, Alkem Labs, HAL, and Abbott India have been reclassified as midcaps from largecaps.

Adani Total Gas, NMDC, Apollo Hospitals Enterprises, Cholamandalam Investment and Finance, Steel Authority of India, Bank of Baroda, and Honeywell Automation India have been reclassified from Midcaps to Largecaps by AMFI. 

“With oil prices rising to the roof, the dollar-rupee is opening slightly higher at 74.33 and stock markets consolidating after a two day rise. Oil will be a concern for the otherwise rising rupee while market awaits tomorrow’s  FED meeting minutes. Range for the day 74.10 to 74.60 with imports to be covered at 74.10-15 while exports to wait for covering at 74.50 and above,” said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.

After rising earlier, Info Edge shares slipped into the negative territory to trade at Rs 5,420 per share. During the initial hours of trade, Info Edge share price had soared to hit an intra-day high Rs 5,567 per share. 

Investment Advisors Limited (KIAL) announced that it has achieved the first close of its new Kotak Pre-IPO Opportunities Fund, raising Rs 1,386 crore (approx. USD 185 million). The Pre-IPO Fund will target a range of India focused late-stage new-age businesses with a strong moat of technology.The fund had initially targeted a corpus of Rs 1,000 crore, which was oversubscribed within three months of launch. The fund exercised its greenshoe option for Rs 386 crore.  

Clean Sciences and Technology’s Rs 1,546 crore initial public offering (IPO) opens for subscription tomorrow, July 7. Investors can bid for the IPO in the price band of Rs 880-900 per equity share of face value Rs 1. Clean Sciences’ issue is entirely an offer for sale (OFS) by existing investors, including promoters of the company and does not involve a fresh issue. Post IPO, promoter and promoter group shareholding will drop to 78.51% from 94.65%. On the other hand, public shareholding in the firm will increase to 21.49% from the current 5.35%. The subscription window for Investors will remain open from tomorrow till the end of the week. 

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“The index is inching towards the 15900 mark which is the upper end of the current range. We need to close above this level for the upside to resume which can take the Nifty to 16100. If we are unable to get past 15900 and close above it, there is always a possibility to take a U-turn from the current levels. The bias is on the upside and any dip or intraday correction can be utilized to buy this market,” said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.

Bank Nifty has added to its gains on Tuesday, helped by a strong rally in AU Small Finance Bank, HDFC Bank and Federal Bank. The index is up 262 points or 0.75%.

“Many global market experts are warning of bubbles in many asset classes, most prominently in equities. Equities, globally, are over-valued by all matrixes. But, interestingly, most bears warning about the collapse of the bubble are fully invested. These “fully invested bears” reflect the present market dilemma. Most bears are fully invested because the usual triggers for a sharp correction – persistent inflation, hawkish Fed, signals of imminent recession – are absent. So, the bull juggernaut may continue to roll on; but investors have to exercise caution. Some rebalancing of portfolios in favor of fixed income may be initiated. Markets are likely to respond positively to many Q1 FY22 numbers coming out from this week onwards. Brent crude at $77 is a serious macro concern,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices today in India were trading at a two-week high, on the back of international rates on a subdued dollar. On Multi Commodity Exchange, gold August futures were trading Rs 146 or 0.31 per cent up at Rs 47,445 per 10 gram, as against the previous close of Rs 47,299. Gold prices again moved above Rs 47,000 level this month on July 2. Silver September futures were up Rs 233 or 0.33 per cent at Rs 70,272 per kg.

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Sensex and Nifty moved between gains and losses on the opening bell. Minutes into the day’s trade Sensex was seen closing in on 53,000 mark while Nifty was above 15,850.

Sensex gave up pre-open gains to trade flat with positive bias ahead of the day’s opening bell while Nifty 50 index was down with marginal losses.

“Indian Indices are expected to open on a flat note as per the trends shown on SGX Nifty. European equities closed higher on Monday. Asian stock markets are mixed in early Tuesday trade with Japan markets trading higher while Chinese and Hong Kong markets trading lower. Oil prices rose slightly on Tuesday with Brent Crude trading at $77.44 a barrel. Some stock specific actions may be witnessed in stocks like NMDC (Government to sell 7.49% of the company’s equity), Maruti Suzuki (Total production in June up 226% YoY to 1,65,576 units), NTPC (NTPC Vidyut Vyapar Nigam, has invited bids for e-buses in Delhi, Leh), Force Motors (Total production in June stood at 1,757 units). The NIFTY 50 is looking to hold around the same levels with the support at 15,600 and the resistance at 15,900,” said Mohit Nigam, Head, PMS – Hem Securities.

Sensex breached 53,000 during the pre-opens session but moved lower soon while the Nifty 50 index was trading flat with negative bias but holding above 15,800.

BSE Sensex and Nifty 50 could start in red on Tuesday, after rising for two consecutive sessions. Trends on SGX Nifty were negative, as Nifty futures were trading 24 points or 0.15 per cent down at 15,839.50 on Singaporean Exchange. The equity market would continue to weigh economic recovery and pace of vaccination against the potential risk from Covid third wave.

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The outperformance was clearly visible in banking stocks, which led the Bank Nifty to surpass its major Call base of 35000. State Bank of India was the leader while most private and PSU banks witnessed large upsides. Looking at the options data, this current recovery may extend up to 35500 as positions are shifting to higher levels. However, on downsides, 35000 and 34800 may act as support. Buy Bank Nifty in the range of 35300-35350 Target: 35500-35700 Stop loss: 35200

~ ICICI Direct

Farmers have received a record Rs 84,369 crore in their bank accounts for the wheat they sold to the government procurement agencies led by the Food Corporation of India (FCI) since April; for a change the entire MSP funds have been routed through the direct benefit transfer (DBT) mechanism this time around. Significantly, farmers in Punjab, who are at the forefront of a prolonged agitation against the three reform-oriented farm laws being put in abeyance, are the biggest beneficiaries of the MSP transfers.

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“Till the Nifty crosses 15920 levels, the strong buyers would not enter the market. For Tuesday, initially, the level of 15900/15920  would act as major resistance and support would be 15740. The strategy should be to buy on dips around 15760/15710  levels or if the market is closing above the levels of 15930,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities Ltd.

Amazon founder Jeff Bezos stepped down as CEO on Monday, handing over the reins as the company navigates the challenges of a world fighting to emerge from the coronavirus pandemic. Andy Jassy, who ran Amazon’s cloud-computing business, replaced Bezos, a change the company announced in February.

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“European indices closed in the green yesterday while Asia is trading flat to positive this morning. SGX Nifty is suggesting a flattish opening near the 15,845 mark. Call unwinding was seen in Nifty 15,700 and 15,800 calls along with huge addition in 15,700-15,800 puts. Bank Nifty saw maximum addition at 35,000 puts Broad-based participation was seen yesterday after many sessions along with sustenance at higher levels. Expect more upside if Nifty crosses 15,850,” said Rahul Sharma, Head – Technical and Derivative research, JM Financial.

“The upmove of Monday seems to have confirmed the bullish reversal of Friday and one may expect upmove towards 15900 levels or higher in the next 1-2 sessions. The upside area of 15900-16100 is going to be crucial to sustain for the short term. Any lack of strength to sustain the highs is likely to result in another downward correction from the highs. Immediate support is placed at 15740,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of Petrol was left unchanged today after two consecutive hikes in the previous days. Petrol price in Delhi now stands at Rs 99.86 per litre, while Diesel in the capital city is retailing at Rs 89.36 per litre today. Fuel prices have increased 34 times since May 4 and thrice this month. The price of petrol in Delhi has increased by Rs 9.17, while diesel price has surged Rs 9.48 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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Nifty futures were trading 44.50 points or 0.28 per cent lower at 15,819 on Singaporean Exchange, indicating a gap-down opening for BSE Sensex and Nifty 50 on Tuesday. In the previous session, headline indices gained for the second straight day. BSE Sensex ended higher at 52,880 while the NSE Nifty 50 finished the day’s trade at 15,834. 

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“Equity market would continue to weigh economic recovery and pace of vaccination against the potential risk from Covid third wave. Q1FY22 earnings season which would kick start this week with TCS results on 8th July would also provide the direction to the market and lot of stock specific action could be seen. Since restrictions this time around was localized and less stringent v/s the lockdown in CY20, we expect the impact in 1QFY22 to be contained. We expect earnings momentum to accelerate in FY22 as the pace of vaccinations picks up and the economy opens up further,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

SGX Nifty was down 20 points ahead of Tuesday’s opening bell. 

Info Edge has reduced the size of its offer for sale (OFS) in the upcoming initial public offering (IPO) of Zomato to Rs 375 crore from Rs 750 crore planned earlier, according to a regulatory filing to BSE. On Monday, capital markets regulator Securities and Exchange Board of India (Sebi) officially approved Zomato’s IPO offer. Info Edge is a key shareholder of Zomato, with a stake of about 18.55% in the food delivery platform.

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The initial public offer (IPO) comprises fresh issue of equity shares worth Rs 7,500 crore and an offer-for-sale to the tune of Rs 750 crore by Info Edge (India) Ltd, according to draft red herring prospectus. Zomato, which filed preliminary IPO papers with Sebi in April, obtained its observation on July 2, an update with the regulator showed on Monday.

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