NIFTY Financial News

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Heavyweight HDFC Bank ended as the top drag on Sensex, followed by Infosys, TCS and Axis Bank. However, mid and smallcaps outperformed the benchmark index. The BSE Midcap index closed 0.55 per cent higher at 30,159.82 after hitting its record high of 30,178.22.

Foreign portfolio investors (FPIs) bought ₹45,365 crore in Indian equities so far this month, which has been marginally lower than the total investment made in June 2023. According to NSDL data, FPIs infused ₹45,361 crore in Indian markets so far in July, taking into account debt, hybrid, debt-VRR, and equities, according to exchange data.

Buy or sell stocks: After being pulled down by weak global market sentiments, Indian stock market ended lower for second straight session. NSE Nifty finished 13 points lower at 19,646 levels, BSE Sensex shed 106 points and closed at 66,160 mark while Bank Nifty index nosedived 211 points and ended at 45,468 levels. However, broad market indices outperformed key benchmark indices as small-ca index surged 0.49 per cent whereas mid-cap index went up 0.55 per cent.

Mutual fund investment in small-cap plans is considered risky. However, in the long-term, it is believed that such plans give maximum return on one's money. This is because it moves faster than mid-cap and small-cap mutual fund plans.

The Nifty Bank clocked 3% gains in the July derivative series, but the selling in the recent sessions and the positioning in the derivatives segment indicates some pain in the near term. On Friday, Nifty Bank ended 0.5% down at 45468.10 points, whereas Nifty 50 ended 0.1% down at 19646.05 points.

«See, earlier if you would have seen that we were stuck in a range of 19,300 to 19,500 for nearly seven trading sessions and from there we had a breakout and then we made a high of somewhere around 19,991 level,» says Mileen Vasudeo, Arihant Capital.Because this week we have seen the Nifty breach that 19,600 mark, do you also believe that there is more room for further fall and how do you see the trend shaping up because we are just sitting at the start of the August series? See, earlier if you would have seen that we were stuck in a range of 19,300 to 19,500 for nearly seven trading sessions and from there we had a breakout and then we made a high of somewhere around 19,991 level. Now we are consolidating the previous gains.

₹5,003.35 crore in Indian equities, snapping its consistent buying streak that helped sustained a record rally in domestic benchmark Nifty this month. Nifty has rallied around five per cent in July mainly on foreign capital inflow and the momentum led by first quarter results of fiscal 2023-24 (Q1FY24). FIIs have pulled off a 700-point rally in the Nifty since the 3rd of this month at the start of the earnings season for the first quarter, according to analysts.

Nifty ended lower on July 28, extending losses into the second consecutive session, amid weak global cues. This week US Federal Reserve and European Central Bank hiked rates to 22-year and 23-year high peaks respectively. The focus now shifts to the Bank of England meeting next week.

Shares of Mahindra & Mahindra(up 1.41 per cent), Hero MotoCorp(up 1.13 per cent), Bajaj Auto(up 0.86 per cent), Eicher Motors(up 0.82 per cent) and Bharat Forge(up 0.57 per cent) ended the day as top gainers in the pack. On the other hand, Sona BLW Precision Forgings(down 4.47 per cent), Samvardhana Motherson International(down 2.84 per cent), Ashok Leyland(down 1.43 per cent), Tata Motors(down 1.3 per cent) and Maruti Suzuki(down 0.85 per cent) finished as the top losers of the day.

Domestic benchmark index NSE Nifty ended 13.85 points down at 19646.05, while the BSE Sensex closed 106.62 points down at 66160.2. On the other hand, Jagsonpal Pharm, Intellect Design, Foseco India, Sundaram Finance and Fino Payments Bank stocks hit their fresh 52-week highs today.

Shares of L&T Technology(up 1.96 per cent) ended the day as top gainers in the pack. On the other hand, MPhasis(down 1.34 per cent), HCL Technologies(down 1.24 per cent), Tata Consultancy(down 1.22 per cent), Infosys(down 0.93 per cent) and Tech Mahindra(down 0.8 per cent) finished as the top losers of the day.

Shares of Ipca Laboratories(up 3.69 per cent), Pfizer(up 2.13 per cent), Gland Pharma(up 2.01 per cent), Abbott India(up 1.49 per cent) and Dr Reddys Laboratories(up 1.38 per cent) ended the day as top gainers in the pack. On the other hand, Glenmark Pharmaceuticals(down 2.87 per cent), Laurus(down 1.77 per cent), Zydus Lifesciences(down 1.39 per cent), Alkem Laboratories(down 0.81 per cent) and Lupin(down 0.58 per cent) finished as the top losers of the day.

Nifty50 clocking about 3.6% gains and setting new milestones. Thanks to the steady inflows from foreign institutional investors, high networth individuals, and retail investors, the Nifty50 has clocked gains for 4 consecutive derivative series. The rollover of positions to the August derivative series of Nifty50 was higher than the three-month average, and the open interest was also higher than that at the beginning of the July series.

Shares of Prestige Estates Projects(up 8.14 per cent), Mahindra Lifespace Developers(up 4.32 per cent), Macrotech Developers(up 2.68 per cent), Godrej Properties(up 2.63 per cent) and Indiabulls Real Estate(up 1.63 per cent) ended the day as top gainers in the pack. On the other hand, Phoenix Mills(down 0.09 per cent) finished as the top losers of the day.

The NSE Nifty index ended the session 13.85 points down at 19646.05, while BSE Sensex fell 106.62 points to 66160.2. In the Nifty index, NTPC Ltd.(up 3.99 per cent), Power Grid Corporation of India Ltd.(up 2.99 per cent), Apollo Hospitals Enterprise Ltd.(up 2.52 per cent), Adani Enterprises Ltd.(up 1.43 per cent) and Mahindra & Mahindra Ltd.(up 1.41 per cent) stood among the top gainers.

Nifty ended lower on Friday (July 28), extending losses into the second consecutive session, amid weak global cues. “Global shares paused for breath on Friday as investors digested monetary policy steps from Japan and inflation data on both sides of the Atlantic in the hope of more evidence to persuade central banks to end their rate hiking cycle," reported Reuters. As per media reports, the Bank of Japan has changed its approach to managing interest rates.

Indian Oil Corporation Ltd. traded 0.21 per cent up in Friday's trade at 02:10PM (IST). Around 649,654 shares changed hands on the counter.

«I believe markets could correct further from here on. 19,550, 19,500 is your immediate support zone. Keep a very close watch on the 20 DMA, that has been acting as a trailing stop loss line,» says Aditya Agarwala, Invest4edu.Last six days' trading pattern I was looking, from almost knocking at 20,000, we came back to 19,600 in five days. We tried to claw back to 19,800, did not sustain. We are back below the 19,600 mark. Dollar index is making me nervous as a trader at 101. Crude at 84 is making me nervous. And if that was not alone, yesterday after a long time I saw a big sell figure from the FIIs. Where should I keep my stop losses on Nifty and Bank Nifty now?My sense is markets will turn a little volatile.

Tata Power Company Ltd. rose 5.3 per cent to Rs 232.5 in Friday's trade as of 01:14PM (IST) even as the benchmark Nifty ruled at 19607.6, down 52.3 points. The scrip had closed at Rs 220.8 in the previous session.

Raamdeo Agrawal, Chairman, MOFSL, says “wherever you have about 20%-25% growth, you can make decent money. In fact, you can get market-beating returns there. Then there are stocks where it is not going below mean and 10%-12% PE multiple is there.