NIFTY Financial News

Read here: US GDP growth accelerates to 2.4% in Q2 despite Fed rate hikes Meanwhile, the European Central Bank (ECB) raised interest rates by 25 basis points to 3.75%, its highest level since 2001. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4%. The Nikkei 225 declined 1.35% and the Topix fell 1%.

«Market is likely to consolidate given no clarity given by the US Fed on its future course of action, leading to mixed global cues. Overall strength continues in the market, with the likelihood of consolidation at higher levels,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded 30 points, or 0.15 per cent, higher at 19,794, signaling that Dalal Street was headed for positive start on Friday.

Cipla surged nearly 10% on Thursday as analysts raised their price targets on the stock after better-than-expected first quarter results. These analysts have increased their price targets by 2-35%, according to data compiled by Bloomberg.

The Indian equities ended Thursday’s session on a weak note even as the US Fed hiked key policy rates on expected lines, Nifty ended at 19,660 points. Sectorally, Pharma and Realty emerged as outliers, while private bank and Oil and Gas indices ended with the most cut Here's how analysts read the market pulse: “The FOMC's decision aligned with market expectations as they implemented a 25bps hike and expressed a data-centric approach for future rate actions.

₹3,979.44 crore in the purchase of shares, while domestic institutional investors (DIIs) bought shares for a net total of ₹2,528.15 crore. FIIs purchased shares worth a net of 15,647.09 crore rupees for the month up to July 27, while DIIs sold shares worth a net of 5,306.77 crore rupees. The stock market closed lower on Thursday after a volatile session.

Nifty closed below the immediate support of 10-day EMA at 19,680, after sustaining above it for 21 consecutive sessions. “Further weakness from here, the market could slide down to its crucial lower support of 20-day EMA around 19,500 levels. This moving average has been offering support for the Nifty for the past three months,” said Nagaraj Shetti of HDFC Securities.

Best-performing Mid Cap Mutual Funds in 10 years (till July 25): Most of the Mid Cap Mutual Funds have delivered high annualised returns in 10 years. Data on the website of the Association of Mutual Funds in India (AMFI) shows that direct plans of as many as 11 mid-cap funds have given over 21% annualised returns in 10 years. The regular plans of 10 mid-cap schemes have given over 19% annualised returns in 10 years. Most of the mid-cap funds have also beaten their respective benchmark indices.

Nifty ended with losses on July 27, the last day of the Nifty's July series futures and options (F&O) contracts amid broadly positive global cues. The US Federal Reserve raised its benchmark lending rate on Wednesday to the highest level since 2001 to tackle above-target inflation, and signaled the possibility of further hikes ahead. The domestic market saw some volatility today.

Bohra Industries(up 4.45%), Fertilizers & Chemicals Tranvancore(up 2.48%), Nagarjuna Fertilizers & Chem(up 2.25%), Coromandel International(up 1.18%), Madras Fertlizers(up 1.10%), Rama Phosphates(up 0.68%), National Fertilizer(up 0.42%), KRISHANA(up 0.25%), Paradeep Phosphates(up 0.08%) and Khaitan Chemicals & Fertilizers(up 0.08%) stood among the top gainers. Sikko Industries(down 2.69%), Gujarat Narmada Valley Fertilizers (down 2.38%), Deepak Fertilizers & Petrochemicals(down 2.16%), G S F C(down 1.15%), Chambal Fertilisers & Chemicals(down 1.00%), Mangalore Chemicals & Fertilizers(down 0.96%), ZUARIAGRO(down 0.78%), Madhya Bharat Agro Products(down 0.24%), Aries Agro(down 0.21%) and Rashtriya Chemicals & Fertilizers(down 0.17%) were among the top losers of the day.

DCM Shriram Industries(up 3.43%), Sakthi Sugars(up 3.01%), Rajshree Sugars & Chemicals(up 0.87%), Ponni Sugars(Erode)(up 0.65%), Simbhaoli Sugars(up 0.41%), EID Parry(up 0.18%) and Bannari Amman Sugars(up 0.13%) stood among the top gainers. AVADHSUGAR(down 2.18%), Balrampur Chini Mills(down 2.08%), Uttam Sugar Mills(down 1.60%), Dhampur Sugar Mills(down 1.26%), Triveni Engineering & Industries(down 1.24%), K.M.Sugar Mills(down 1.12%), Dwarikesh Sugar Industries(down 1.11%), BAJAJHIND(down 1.08%), Shree Renuka Sugars(down 1.07%) and Mawana Sugars(down 1.01%) were among the top losers of the day.

Shares of DLF(up 4.75 per cent), Phoenix Mills(up 2.75 per cent), Oberoi Realty(up 2.49 per cent), Godrej Properties(up 2.14 per cent) and Brigade Enterprises(up 1.43 per cent) ended the day as top gainers in the pack. On the other hand, SOBHA(down 2.46 per cent), Prestige Estates Projects(down 1.67 per cent) and Mahindra Lifespace Developers(down 0.35 per cent) finished as the top losers of the day.

US Fed. The 30-share BSE benchmark Sensex declined 440 points or 0.66% to settle at 66,267. The broader NSE Nifty dropped 0.60% to end below the 19,700 level.

InterGlobe Aviation Ltd. traded 0.37 per cent up at Rs 2547.95 on Thursday at around 01:50PM (IST), while the benchmark BSE Sensex declined 372.03 points to 66335.17. As many as 15,484 shares changed hands on the counter with a total value of Rs 392.0 crore.

Godrej Consumer Products Ltd. traded 0.77 per cent lower in Thursday's session at 01:45PM (IST).

Shriram Finance Ltd. traded 0.08 per cent lower in Thursday's session at 01:24PM (IST).

Crompton Greaves Consumer Electricals Ltd. gained 0.42 per cent to Rs 292.6 in Thursday's trade as of 01:19PM (IST).

Max Healthcare Institute Ltd. slipped 0.53 per cent to Rs 604.5 in Thursday's trade. It hit a high of Rs 614.75 and low of Rs 604.5 during the session.

Zomato Ltd. rose 0.27 per cent to Rs 83.57 in Thursday's trade as of 12:38PM (IST) even as the benchmark Nifty ruled at 19729.45, down 48.85 points. The scrip had closed at Rs 83.35 in the previous session.

Tech Mahindra Ltd. fell short of the mark in its June quarter (Q1FY24) earnings, disappointing its investors and sending shares down almost 3% in the National Stock Exchange's early trading on Thursday. The company reported a disheartening 4.2% sequential drop in constant currency revenue, failing to meet analyst expectations.

Indian stock market witnessed a blockbuster rally as both the Nifty 50 and BSE Sensex reached all-time highs, not once but thrice. The Nifty 50 traded near 19,300, while the Sensex surpassed 65,000 by the end of the month. This impressive performance was driven by strong inflows from foreign institutional investors (FIIs), robust corporate balance sheets, moderating inflation, and positive expectations for economic growth buoyed by anticipated normal monsoon conditions.

Neeraj Akhoury, MD, Shree Cement, says “we have already declared to the public is that there has been a survey by income tax in our operations. It is not a search, just a survey. We are fully cooperating with the authorities.