NIFTY Financial News

«It is pretty much normal because we are in the pre-expiry week when a lot of the stock options go into margin. From Friday onwards the margins start to apply. So, typically, there is a case for some profit booking that comes in, especially related to the option segment,» says Rohit Srivastava, Indiacharts.com.What is your sense, at one point of time it looked like we are going to race towards that 20,000 mark, but now a bit of a tempered move, a bit of a consolidation?It is pretty much normal because we are in the pre-expiry week when a lot of the stock options go into margin.

LTIMindtree Ltd. traded 0.73 per cent down in Wednesday's trade at 01:38PM (IST). Around 23,379 shares changed hands on the counter.

Russia-Ukraine war and central bankers’ tightening spree to get the upper hand in their battle against inflation. As a result of the double whammy impact of geopolitical tension and higher borrowing cost, the USD being a global cycle currency traded at the highest level in 21 years. At the same time, the Indian rupee was seen steadily depreciating from 74.50 to 83.25, a fall of more than 11%.

Page Industries Ltd. traded 0.11 per cent lower in Wednesday's session at 12:25PM (IST).

Tata Elxsi Ltd. traded 0.22 per cent up in Wednesday's trade at 12:20PM (IST). Around 8,469 shares changed hands on the counter.

emerging markets. Foreign portfolio investors (FPIs) net bought ₹32,468 crore worth of Indian shares during the current month till 18 July, and for 2023 so far, the purchases stand at ₹125,817 crore.

PI Industries Ltd. traded 0.47 per cent up at Rs 3657.25 on Wednesday at around 11:07AM (IST), while the benchmark BSE Sensex advanced 11.72 points to 66806.86. As many as 1,109 shares changed hands on the counter with a total value of Rs 4062.0 crore.

The NSE Nifty index traded 12.3 points up at 19761.55, while BSE Sensex was up 38.91 points at 66834.05 as of 11:12AM(IST)on July 19. In the Nifty index, NTPC Ltd.(up 4.08 per cent), IndusInd Bank Ltd.(up 1.81 per cent), Power Grid Corporation of India Ltd.(up 1.14 per cent), Bajaj Finance Ltd.(up 1.06 per cent) and Bharat Petroleum Corporation Ltd.(up 0.87 per cent) were among the top gainers.

Zee Entertainment Enterprises Ltd. gained 0.18 per cent to Rs 224.45 in Wednesday's trade as of 11:18AM (IST). It hit a high of Rs 229.15 and low of Rs 223.8 during the session.

Madras Fertlizers(up 9.15%), Agro Phos(up 2.25%), Fertilizers & Chemicals Tranvancore(up 1.42%), Rashtriya Chemicals & Fertilizers(up 1.42%), ZUARIAGRO(up 1.38%), Sikko Industries(up 1.35%), National Fertilizer(up 1.27%), Madhya Bharat Agro Products(up 0.97%), Mangalore Chemicals & Fertilizers(up 0.89%) and G S F C(up 0.81%) were among the top gainers. Bohra Industries(down 4.97%), Khaitan Chemicals & Fertilizers(down 1.70%), Coromandel International(down 0.76%), Paradeep Phosphates(down 0.57%), KRISHANA(down 0.28%) and Gujarat Narmada Valley Fertilizers (down 0.08%) were among the top losers.

Bombay Metrics Suppl, Aartech Solonics, Godha Cabcon & Insul, Jet Airways and Cell Point(India)and others were among the stocks that touched their 52-week lows as of 11:07AM(IST)in Wednesday's session. Domestic benchmark index NSE Nifty gained 4.6 points to 19753.85, while the BSE Sensex traded 16.09 points up at 66811.23.

Vedanta Ltd. gained 0.68 per cent to Rs 283.5 in Wednesday's trade as of 10:57AM (IST). The stock hit a high price of Rs 285.0 and low of Rs 282.55 during the session.

Reliance Industries stock on Thursday, on account of the demerger of the financial services business of the company.RIL has fixed July 20 as the record date to determine eligible shareholders for the allotment of shares of the demerged entity. Under the demerger scheme, RIL shareholders will get 1 share of the demerged entity Reliance Strategic Investments for every 1 share held by them in the conglomerate. In RIL, the NSE will conduct a special pre-open session from 9 AM to 10 AM.

Sensex and Nifty on Wednesday hit fresh record peaks above 67,000 and 19,800 levels, respectively. Buying was broad-based across market segments and sectors with IT and bank stocks leading the show.

«One needs to watch out how Reliance integrates the financial service arm with the retail and telecom business to procure supply chain discounting or merchant vendor discounting or consumer financing,» says Sushil Choksey, Director, Indus Equity Advisors.How much value unlocking do you see with this demerger for Reliance and its shareholders? There is going to be a significant amount of unlocking, would not you agree?Yes, it is certainly a very positive event for Reliance shareholders because not only 6.1% Reliance treasury shares are being transferred here and that in today's market value at closing price is Rs 1,14,000 crores approximately plus Rs 28,000 crores of net worth which is currently owned and all the related financial service or insurance and all the license and maybe the payment bank is part of this entity. So, one needs to watch out how Reliance integrates the financial service arm with the retail and telecom business to procure supply chain discounting or merchant vendor discounting or consumer financing.

The S&P BSE Sensex rose more than 200 points, while the broader Nifty50 rose 37 points to end at a new record high of 19,749 on Tuesday. India VIX was up by 3.49% from 11.31 to 11.71 levels on Tuesday.

rupee ended flat at 82.03 a dollar. “Rupee is expected to appreciate amid weakness in the dollar. The forecast of weaker set of economic numbers from US could force the Fed to take a pause in its rate hike regime after much anticipated 25 bps hike in the July meeting," ICICI Direct said.

FPIs as of now. “It is high time for India to get its due recognition among the global investor community, especially when it has the strongest outlook for growth among major economies, a stable currency, and a strong government and fiscal balance sheet, unlike many other EMs,” said Sheetal Malpani, Chief Investment Officer and Head of Equity at Tamohara Investment Advisors.Edited excerpts from an interview with ETMarkets:Although markets have hit record highs, India has still underperformed its EM and DM peers on a year-to-date (YTD) basis. Do you see scope for a trend reversal?India has covered a lot of underperformances versus the US market in the past 3 months.

“There is a kind of FOMO from foreign players as they can’t miss India as an investment but at the same time, they are also very specific about the sectors in which they want to invest”, says Vikram Kasat- Head Advisory, Prabhudas Lilladher Pvt Ltd. In an interview with ETMarkets, Kasat who has over 13 years of experience said: “In Bull Case, we value NIFTY at 10-year average (20.8x) and arrive at bull case target of 24353 (23878 at LPA PE)” Edited excerpts:Where do you see markets headed amid interest rate headwinds? The US Federal Reserve's decision to raise interest rates can have an impact on the Indian market, particularly in terms of capital flows and investor sentiment. In this case, it may lead to a strengthening of the US dollar, which could potentially put pressure on the Indian rupee and create volatility in the equity markets.

Nifty ended at 19,749.25, up 37.80 points, or 0.19%. The Midcap and Smallcap indices, however, underperformed the frontliners and ended in the red.

Investing.com-- Most Asian stocks rose on Wednesday after data released overnight spurred increased bets that the Federal Reserve was close to ending its current rate hike cycle, while Chinese markets continued to lag on a worsening economic outlook.