Sensex Today: Stock Market LIVE Updates: Sensex reverses losses, jumps 150 points; Nifty above 16,500; IndusInd up 5% after Q1 results; ITC at new high


Sensex Today: Indian shares held steady on Thursday, supported by private lender IndusInd Bank after its quarterly profit surged, while technology stocks slid on weak results from IT services firm Wipro.

Shares of IndusInd Bank added 4.8% after reporting a strong quarterly profit. Wipro fell as much as 2% after its June-quarter profit declined about 21%.

“With around 8.5% rally from the June lows, Nifty is likely to consolidate around the present levels before making its next move, which will be influenced by the outcome of the ECB and Fed meetings due on 21st and 27th July respectively. The Fed is likely to raise the rate by 75 bp and ECB, perhaps, by 50 bp. But more important than the rate hikes, their commentary on the trajectory of inflation and economic growth would be closely watched. If there are indications that inflation has peaked and is likely to trend down, markets would respond positively. If not, the market response would be negative,” says Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

In the domestic market, the biggest positive is FIIs turning buyers, says Vijayakumar, adding that even if they turn sellers at higher levels, the intensity of selling will be much lower than in the last several months.

The Indian rupee weakened at the open and was trading just shy of its lifetime low hit earlier this week, tracking losses in most other Asian peers but traders expect dollar-selling intervention by the central bank to limit losses.

The partially convertible rupee was fetching 80.01/02 per dollar by 0337 GMT, compared with its close of 79.99 on Wednesday and near its record low of 80.0650 touched on Tuesday.

Highlights from trade:

  • Gland Pharma hits 52-week low post Q1
  • IndusInd Bank rallies 5% on better-than-expected earnings

!1 New UpdateClick here for latest updates

Hindustan Zinc Q1

  • Revenue at Rs 9,387 cr vs Rs 8,797 cr QoQ
  • PAT at Rs 3,092 cr vs Rs 2,928 cr QoQ
  • EBITDA at Rs 5,137 cr vs Rs 4,962 cr QoQ

Kajaria Ceramics Q1 consolidated revenue at stands at Rs 1.008.2 cr vs Rs 561.7 cr YoY

Pharma having an off day but Biocon and Sun Pharma doing well

Price as on 21 Jul, 2022 01:34 PM, Click on company names for their live prices.

HDFC MF’s Prashant Jain 1st to manage Rs 1-lakh-crore equity assets

The market rally in July has made HDFC NSE 0.52 % MF’s Prashant Jain the first fund manager in India to oversee Rs 1-lakh-crore equity assets. Jain manages Balanced Advantage, Flexi Cap and Top 100 funds at HDFC MF, apart from an India-dedicated scheme under exclusive mandate from a sovereign wealth fund.

Market LIVE Updates: Aegis, IndusInd Bank top gainers at this hour

Price as on 21 Jul, 2022 12:26 PM, Click on company names for their live prices.

How Rakesh Jhunjhunwala rejigged his portfolio in June quarter

Rakesh Jhunjhunwala kept his stake in various stocks largely unchanged in the June 2022 quarter. That said, there are select stocks wherein he booked profits, including potential exits from two companies.

According to the data from Trendlyne, Rakesh Jhunjhunwala and associates publicly hold 34 stocks with a net worth of over Rs 29,301.4 crore, as per the latest corporate shareholdings filed so far. Let us have a look at his rejigs during April-June 2022 period.

How Rakesh Jhunjhunwala rejigged his portfolio in June quarter

Why a fall in Singapore GRMs spells bad news for OMCs, RIL

PNC Infratech signs concession agreements for 2 projects worth Rs 1,623 crore

Price as on 21 Jul, 2022 11:58 AM, Click on company names for their live prices.

Sonata Software zooms 6% as board to consider bonus issue of shares on July 25

Price as on 21 Jul, 2022 11:40 AM, Click on company names for their live prices.

How midcap IT companies did in Q1

Market LIVE Updates: Telecom stocks gain, Tata Communication leads

Price as on 21 Jul, 2022 11:17 AM, Click on company names for their live prices.

Tesla sells majority of Bitcoin after turbulent crypto foray

Tesla Inc. sold a significant chunk of its stake in Bitcoin, an investment that helped legitimize the world’s largest electronic currency. “As of the end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat currency,” Tesla said in a shareholder letter Wednesday as part of the company’s earnings report. “Conversions in Q2 added $936M of cash to our balance sheet.”

Tesla sells majority of Bitcoin after turbulent crypto foray

Expect markets to bottom out between now and Dec; Bull run will resume CY23- CY24 onwards

– Nilesh Shah of Capital Envision

INR has been under steady depreciation pressure throughout this calendar year, courtesy of monetary policy tightening by the DM economies and the consequent FPI outflows from capital markets. India’s widening trade gap and capital outflows also raised the risks for the rupee. Nevertheless, RBI is aggressively intervening in FX markets to stem the weakness in INR, resorting to sell/buy swaps in the spot and forward market. Moreover, there has been a slew of measures taken by the central bank and the government to boost inflows of Forex and arrest the Rupee fall. In terms of the INR outlook for the rest of this calendar year, we sense that the worst is priced in the currency, with the value likely to be peaking around 80.5-81 against the greenback.

– Hitesh Jain, Lead Analyst – Institutional Equities, YES Securities

Sensex erases all losses, gains over 100 points

Sensex erases all losses, gains over 100 points

Gland Pharma recorded a 35 per cent decline in profit at Rs 229.2 crore for the quarter ended June 2022 on lower topline growth and weak operating performance. Revenue plunged by 26 per cent YoY to Rs 856.9 crore during the quarter, impacted by continuing supply disruptions in the midst of challenging macro environment.

Price as on 21 Jul, 2022 09:52 AM, Click on company names for their live prices.

Bank of Japan maintains a policy balance rate of -0.1%

Rupee just shy of record low; focus on RBI intervention

The Indian rupee weakened at the open on Thursday and was trading just shy of its lifetime low hit earlier this week, tracking losses in most other Asian peers but traders expect dollar-selling intervention by the central bank to limit losses. The partially convertible rupee was fetching 80.01/02 per dollar by 0337 GMT, compared with its close of 79.99 on Wednesday and near its record low of 80.0650 touched on Tuesday.

With around 8.5% rally from the June lows, Nifty is likely to consolidate around the present levels before making its next move, which will be influenced by the outcome of the ECB and Fed meetings due on 21st and 27th July respectively. The Fed is likely to raise the rate by 75 bp and ECB, perhaps, by 50 bp. But more important than the rate hikes, their commentary on the trajectory of inflation and economic growth would be closely watched. If there are indications that inflation has peaked and is likely to trend down, markets would respond positively. If not, the market response would be negative.In the domestic market, the biggest positive is FIIs turning buyers. Even if they turn sellers at higher levels, the intensity of selling will be much lower than in the last several months. IT and financials which bore the brunt of FII selling are the likely beneficiaries of the change in strategy of FIIs.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

ITC stock hits Rs 300 mark

ITC stock hits Rs 300 mark

Market LIVE Updates: Wipro, Trident, Vedanta among most active stocks on NSE

Price as on 21 Jul, 2022 09:19 AM, Click on company names for their live prices.

OPENING BELL: Sensex sheds 100 points, Nifty below 16,500; Wipro drops 2%, IndusInd up 2% after Q1 results

OPENING BELL: Sensex sheds 100 points, Nifty below 16,500; Wipro drops 2%, IndusInd up 2% after Q1 results

Fresh low for rupee!

JUST IN: Rupee falls past 80 per dollar at open

JUST IN: Rupee falls past 80 per dollar at open

Buy or Sell: Stock ideas by experts

Asian stocks bounce runs out of gas ahead of ECB

Asian stocks inched lower and the dollar was firm on Thursday as looming central bank meetings in Europe and Japan and uncertainty over the supply of Russian gas kept traders on edge.

Tokyo shares open lower ahead of BoJ decision

Tokyo stocks opened lower Thursday as investors locked in profits after recent gains while awaiting a Bank of Japan policy decision later in the day.The benchmark Nikkei 225 index slipped 0.04 percent, or 11.38 points, to 27,668.88 in early trade, while the broader Topix index fell 0.25 percent, or 4.47 points, to 1,941.97.

SGX Nifty signals a muted start

Nifty futures on the Singapore Exchange traded 4.5 points, or 0.03 per cent, lower at 16,493, signaling that Dalal Street was headed for a muted start on Thursday.

Quarterly earnings today

Hindustan Zinc, SRF, Mphasis, JSW Energy, IDBI Bank, Persistent Systems, CRISIL, Kajaria Ceramics, ICICI Securities, PVR, Cyient and RBL Bank are among companies that will announce their quarterly earnings today.

Tech View: Nifty50 forms bearish candle as bulls indecisive at high

The Nifty50 on Wednesday climbed for the fourth straight session and, in the process, topped the 16,500 level on a closing basis. That said, the index ended up forming an indecisive bearish candle on the daily chart after a gap-up opening, suggesting investors were indecisive at highs. Analysts see selling at highs. They believe the index could face resistance around the 16,650 level.

Oil prices edge lower as demand concerns outweigh tight supply

Oil prices fell on Thursday for a second straight session, as demand concerns outweighed tight global supply after U.S. government data showed tepid gasoline demand during the peak summer driving season. Brent crude futures fell 37 cents, or 0.3%, to $106.55 a barrel by 0003 GMT. WTI crude futures fell 33 cents, or 0.3%, to $99.55 a barrel.

Wall Street closes higher boosted by tech stocks gains

U.S. stocks ended higher on Wednesday with the tech-heavy Nasdaq booking a 1.6 % gain on positive earnings signals with a wary eye on inflation and more interest rate hikes by the Fed.

Rupee down 13 paise on deficit concerns

The rupee for the first time dropped below the 80 level against the US currency on Wednesday due to strong dollar demand from importers and fiscal slippage concerns.

Sensex, Nifty on Wednesday

The 30-share pack Sensex rallied 630 points or 1.15 per cent to end at 55,397. Its broader peer, Nifty50, settled above the 16,500 mark.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day





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