NIFTY Financial News

Benchmark NSE Nifty closed 97.7 points up at 19778.3 amid buying in frontline bluechip counters. However, stocks such as Orient Bell, Sadhana Nitro, Synoptics Technologi, KKV Agro Powers Ltd.

Shibani Sircar Kurian, Senior EVP, Fund Manager & Head -Equity Research, Kotak Mahindra Asset Management, says “most of the earnings that have come are largely from financials and IT companies. The IT sector has seen a muted set of numbers but that was again more or less in line with estimates. For financials, the numbers and the overall earnings trend continues to be fairly robust.

Edelweiss Mutual Fund has made a significant move to benefit passive investors by reducing the expense ratio across its passive equity index schemes in direct plans. The expense ratio has been cut to a record-low of 0.05 percent, the lowest among Nifty 50 index funds in India. This reduction aims to boost investor returns and minimize tracking errors for passive funds. The expense ratio reduction is expected to bring down tracking error and tracking difference, which is the difference between the returns of the fund and the benchmark index it aims to replicate. This shall help these low cost passive funds stay closer to their benchmark performance, giving investors more accurate exposure to the index they are tracking.Edelweiss MFs schemes changed their expense ratio in below index funds with immediate effect — Edelweiss Nifty 50 Index Fund — Direct Plan 0.05%, Edelweiss Nifty Next 50 Index Fund — Direct Plan 0.09%, Edelweiss Nifty Midcap 150 Momentum 50 Index Fund -0.14%, Edelweiss Nifty Smallcap 250 Index Fund -0.14%, Edelweiss NIFTY Large Mid Cap 250 Index Fund -0.14%, and Edelweiss Nifty 100 Quality 30 Index Fund -0.14%. This strategic decision by Edelweiss Mutual Fund, known for its innovative and low-cost offerings, reinforces its commitment to provide good passive solutions to investors. The fund house achieved a notable milestone earlier this year by crossing 1 lakh crore AUM. With this latest move, Edelweiss Mutual Fund sets a new industry benchmark for expense ratios in India, attracting investors seeking optimal returns with minimized costs.

The NSE Nifty index closed 97.7 points up at 19778.3, while BSE Sensex ended up 351.49 points at 66707.2.

Geojit Financial Services. Market Wrap: Sensex, Nifty rise despite weak global cues; US Fed outcomes in focus Here is the list of stocks who are top gainers and losers during July 26 trading session: Top gainers: Larsen & Toubro Ltd (up 3.30%), ITC Ltd (up 2.14%), Sun Pharmaceutical Ltd (up 1.70%), Reliance Industries Ltd (1.65%), and Axis Bank Ltd (up 1.45%).

US Fed decision today: Will it be the last hike of the current cycle? How could it impact the Indian market? Sensex closed 351 points, or 0.53 per cent higher at 66,707.20 while the Nifty ended at 19,778.30, up 98 points, or 0.50 per cent.

The headline indices like the Nifty 50 and Sensex have hit fresh all-time highs (ATH), and that is the talk of the town. However, we always advise investors to just look at these as an indicator of broad trends, not fixate on these numbers and certainly ignore all the associated noise around these events. The hype around ATH can be a major deterrent to prudent investor behavior.

SRF Ltd. slipped 0.7 per cent to Rs 2148.0 in Wednesday's trade. It hit a high of Rs 2162.65 and low of Rs 2110.7 during the session.

Mutual Fund calculation: Small Cap mutual funds have been in the news for giving better returns compared to schemes in other equity mutual fund categories. Data on the website of the Association of Mutual Funds in India (AMFI) at the time of writing shows that direct plans of as many as 13 small-cap funds have doubled lump sum investment done by an investor in just 5 years till July 24 with over 15% annualised returns. The direct plan of the top-performing scheme among these 13 funds has tripled investors’ money in just 5 years.

Domestic benchmark indices NSE Nifty 50 and BSE Sensex were trading in the green zone today. In the intraday trade, the NSE Nifty 50 soared 133.45 points or 0.68% to 19,814.05 and BSE Sensex surged 486.80 points or 0.73% to 66, 842.51. Among the broader market indices – Nifty Next 50 gained 0.27%, Nifty 100 rose  0.57%, the Nifty 200 gained 0.53%, Nifty Midcap 50 rose 0.42%, while Nifty Smallcap 50 gained 0.37%, Nifty Smallcap 250 rose 0.43%. The Volatility Index surged  3.24%. In sectoral indices, Nifty Bank rose 0.19%, Nifty IT gained 0.48%, Nifty FMCG surged 0.76%, Nifty Private Bank rose 0.19%, Nifty Auto gained 0.06%, Nifty Metal rose 0.12%, and Nifty Media gained 0.54%. Tata Motors, Tata Motor (DVR), Reliance Industries, Larsen & Toubro, Adani Enterprises, Adani Green Energy, and ITC were the most active stocks on NSE.

As nifty after forming new high moves upward in an uncharted territory, more small caps have joined the party on the street. Whether it is trend of market breadth or the absolute level of small-cap index, moves in both of them are indicating that bulls are in firm control of the street.

Colgate-Palmolive (India) Ltd. slipped 0.54 per cent to Rs 1887.45 in Wednesday's trade as of 12:58PM (IST). The stock hit a high price of Rs 1906.5 and low of Rs 1880.95 during the session.

By Malvika Gurung

Trent Ltd. traded 0.07 per cent down in Wednesday's trade at 12:22PM (IST). Around 5,557 shares changed hands on the counter.

Indian Hotels Company Ltd. rose 0.63 per cent to Rs 394.45 in Wednesday's trade as of 11:47AM (IST) even as the benchmark Nifty ruled at 19791.45, up 110.85 points. The scrip had closed at Rs 392.0 in the previous session.

The NSE Nifty index was trading 124.5 points up at 19805.1, while BSE Sensex was up 467.83 points at 66823.54 at the time of writing this report. In the Nifty index, Larsen & Toubro Ltd.(up 3.82 per cent), Reliance Industries Ltd.(up 2.36 per cent), Bharat Petroleum Corporation Ltd.(up 2.07 per cent), Adani Ports & Special Economic Zone Ltd.(up 2.05 per cent) and ITC Ltd.(up 1.49 per cent) were among the top gainers.

Balkrishna Industries(up 1.62 per cent), Samvardhana Motherson International(up 1.32 per cent), Tata Motors(up 1.18 per cent), Sona BLW Precision Forgings(up 0.72 per cent) and Eicher Motors(up 0.65 per cent) were among the top gainers. Ashok Leyland(down 0.82 per cent), Mahindra & Mahindra(down 0.49 per cent), TIINDIA(down 0.37 per cent), Maruti Suzuki(down 0.29 per cent) and Bharat Forge(down 0.01 per cent) were the top losers on the index.

LTIMindtree Ltd(up 0.89 per cent), Coforge(up 0.88 per cent), Wipro(up 0.69 per cent), L&T Technology(up 0.65 per cent) and Infosys(up 0.61 per cent) were among the top gainers. MPhasis(down 0.68 per cent) and Persistent Systems(down 0.23 per cent) were the top losers on the index.

Tata Power Company Ltd. traded 1.21 per cent up at Rs 222.1 on Wednesday at around 10:20AM (IST), while the benchmark BSE Sensex advanced 462.91 points to 66818.62. As many as 150,801 shares changed hands on the counter with a total value of Rs 334.0 crore.

The stock hit a high price of Rs 1148.0 and low of Rs 1130.65 during the session. The return on equity (ROE) for the stock stood at 18.57 per cent.

Paradeep Phosphates(up 3.72%), Deepak Fertilizers & Petrochemicals(up 1.51%), Sikko Industries(up 1.05%), Coromandel International(up 1.00%), Gujarat Narmada Valley Fertilizers (up 0.94%), ZUARIAGRO(up 0.91%), Chambal Fertilisers & Chemicals(up 0.89%), Aries Agro(up 0.79%), Khaitan Chemicals & Fertilizers(up 0.63%) and Mangalore Chemicals & Fertilizers(up 0.58%) were among the top gainers. Fertilizers & Chemicals Tranvancore(down 2.08%), Nagarjuna Fertilizers & Chem(down 1.10%), Madhya Bharat Agro Products(down 0.62%), KRISHANA(down 0.51%) and Agro Phos(down 0.15%) were among the top losers.