NIFTY Financial News

Havells India Ltd. traded 0.01 per cent lower in Tuesday's session at 01:14PM (IST).

not gone down well with investors. Shares of the company have fallen by more than 8% from its 52-week high of ₹499.70 apiece seen on Monday. Investors are largely unsettled by the proposed structure following the demerger, where ITC will retain 40% of the new entity’s stake, leaving the rest for existing shareholders.

The stock quoted a 52-week high price of Rs 101.44 and a low of Rs 65.2. The return on equity for the stock stood at 7.0 per cent.

The stock quoted a 52-week high price of Rs 286.9 and a low of Rs 172.25. The return on equity for the stock stood at 0.44 per cent.

Domestic benchmark index NSE Nifty fell 7.3 points to 19665.05, while the BSE Sensex traded 58.11 points down at 66326.67. On the other hand, A G Universal, Thangamayil Jew, Kriti Nutrients, 5Paisa Capital and Texmaco Infra stocks hit their fresh 52-week highs today.

Shree Cements Ltd. traded 1.19 per cent higher in Tuesday's session at 10:30AM (IST).

On the BSE, SDC Techmedia(down 16.55 per cent), Prospect Commodities(down 11.94 per cent), Kush Industries (down 11.50 per cent), Ishaan Infrastru(down 10.70 per cent) and Gautam Gems(down 9.98 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 25 stocks traded in the green, while 22 stocks traded in the red.

ITC management chose to keep 40% of the hotels business with itself after demerger, investors continued to dump shares of cigarettes-to-hotels major ITC for the second day on Tuesday. Nifty's star performer has lost around 7% in the last two days. After yesterday's 4% decline, ITC stock went down another 3% to Rs 455.95 today on BSE.

GAIL (India) Ltd. traded 1.03 per cent up in Tuesday's trade at 10:35AM (IST). Around 237,655 shares changed hands on the counter.

Pankaj Pandey, Head Research, ICICIdirect.com, says a Fed meeting is lined up. If the Fed is comfortable about not really hiking beyond the current expectation, then the macroeconomic scenario might improve and the overall deals might get converted into revenues in the second half and so there could be an element of positive surprise. “Overall our sense is that some of these pockets will continue to fire the market and which is why I feel that 21,400 is very much on the cards going forward.”Which would be the leadership stock now because clearly for the heavyweights, all the triggers have been played out. What is next? Who will be the new leader?Banking is still one sector which will continue to do well.

market reaching all-time highs. In March, when the Sensex was down around 10% from its previous all-time high, I thought there is more decline coming. After all, there were several headwinds that it had run into.

The NSE Nifty index was trading 1.25 points up at 19673.6, while BSE Sensex was down 24.46 points at 66360.32 at the time of writing this report. In the Nifty index, JSW Steel Ltd.(up 2.30 per cent), UltraTech Cement Ltd.(up 2.06 per cent), Hindalco Industries Ltd.(up 2.03 per cent), NTPC Ltd.(up 1.84 per cent) and Tata Steel Ltd.(up 1.69 per cent) were among the top gainers.

ZUARIAGRO(up 2.05%), Bohra Industries(up 1.73%), Aries Agro(up 0.75%), Agro Phos(up 0.74%), Sikko Industries(up 0.69%), Nagarjuna Fertilizers & Chem(up 0.57%), G S F C(up 0.39%), Rashtriya Chemicals & Fertilizers(up 0.35%), Chambal Fertilisers & Chemicals(up 0.32%) and Rama Phosphates(up 0.18%) were among the top gainers. Coromandel International(down 0.98%), KRISHANA(down 0.70%), Deepak Fertilizers & Petrochemicals(down 0.58%), Mangalore Chemicals & Fertilizers(down 0.29%) and Madhya Bharat Agro Products(down 0.09%) were among the top losers.

Bajaj Holdings & Investment Ltd. rose 0.88 per cent to Rs 7490.05 in Tuesday's trade as of 10:25AM (IST) even as the benchmark Nifty ruled at 19669.85, down 2.5 points. The scrip had closed at Rs 7424.9 in the previous session.

Triveni Engineering & Industries(up 2.68%), EID Parry(up 1.62%), Balrampur Chini Mills(up 0.98%), Bannari Amman Sugars(up 0.53%), Ugar Sugar Works(up 0.31%) and Simbhaoli Sugars(up 0.20%) were among the top gainers. DCM Shriram Industries(down 6.86%), BAJAJHIND(down 2.60%), KCP Sugar & Industries(down 2.39%), Dwarikesh Sugar Industries(down 1.98%), Dalmia Bharat Sugar & Industries(down 1.64%), MAGADHSUGAR(down 1.52%), Rajshree Sugars & Chemicals(down 1.04%), Dhampur Sugar Mills(down 0.99%), Mawana Sugars(down 0.80%) and Uttam Sugar Mills(down 0.76%) were among the top losers.

rupee gained 14 paise to 81.67 against the US dollar in early trade on Tuesday tracking the weakness of the American currency in the overseas market. However, a surge in crude oil prices capped sharp gains for the local unit, forex traders said. At the interbank foreign exchange, the domestic unit opened at 81.74, then touched a high of 81.67 against the American currency, registering a rise of 14 paise over its last close.

Infosys disappointed the Street with a sharp cut in FY24 revenue growth guidance to 1-3.5% from 4-7%, foreign institutional investors or FIIs had already pared stake in the IT services giant. In the June quarter, FIIs sold IT stocks worth over Rs 9,000 crore, with Infosys and Tech Mahindra being the least-liked stocks. The June quarter shareholding pattern data shows that FIIs pared their stake in Infosys by another 165 bps to 33.44%.

The markets stepped into the monthly expiry week on a tepid note. The Nifty had a range-bound session where it stayed under corrective pressure.

US Federal Reserve's monetary policy decision tomorrow, Indian equity markets opened marginally higher on Tuesday, led by banking, auto, and financial stocks. The BSE Sensex was trading 75 points or 0.11% higher at 66,460. Nifty50 was trading at 19,700, up 28 points or 0.14% at around 9.19 am.

Day trading guide for today: Dragged down by profit booking in Reliance, leading IT and bank stocks, Indian stock market ended lower on second day in a row. NSE Nifty went off 72 points and closed at 19,672 levels while BSE Sensex finished 299 points lower at 66,384 mark.

«We expect some cautiousness ahead of the US Fed meeting where a 25 bps hike is expected, while investors keenly await commentaries. With the quarterly earnings season now at full pace during the week, we expect stock-specific action to continue in the market,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a shift in trading range in between 19500 to 20200 zones while an immediate trading range in between 19600 to 20000 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a negative startGIFT Nifty on the NSE IX traded 26 points, or 0.13 per cent, lower at 19,712, signaling that Dalal Street was headed for negative start on Tuesday.