NIFTY Financial News

Shares of Mahindra Lifespace Developers(up 2.97 per cent), Macrotech Developers(up 1.22 per cent), SOBHA(up 0.76 per cent), Brigade Enterprises(up 0.68 per cent) and Prestige Estates Projects(up 0.07 per cent) ended the day as top gainers in the pack. On the other hand, Godrej Properties(down 1.35 per cent), Indiabulls Real Estate(down 1.32 per cent), Oberoi Realty(down 0.75 per cent), DLF(down 0.68 per cent) and Phoenix Mills(down 0.09 per cent) finished as the top losers of the day.

Suzlon Energy(up 8.93%), Energy Development Company(up 5.85%), Power & Instrumentation(Gujarat)(up 4.90%), KEC International(up 3.02%), JSW Energy(up 1.83%), NTPC(up 1.46%), Orient Green Power Company(up 0.86%), CESC(up 0.62%), Inox wind(up 0.40%) and ADANIGREEN(up 0.33%) stood among the top gainers. Jyoti Structures(down 4.52%), Transformers and Rectifiers(India)(down 4.50%), Voltamp Transformers(down 3.23%), Torrent Power(down 2.52%), Karma Energy(down 2.47%), NLC India(down 2.41%), Indowind Energy(down 2.39%), Reliance Power(down 2.33%), KPI Green Energy(down 2.18%) and RTNPOWER(down 1.89%) were among the top losers of the day.

Bombay Metrics Suppl, Vilin Bio Med Ltd., Cell Point(India), Rajesh Exports and Viji Finance and others were among the stocks that touched their 52-week lows in today's trade. Domestic benchmark index NSE Nifty ended 66.45 points up at 19389.0, while the BSE Sensex closed 274.0 points up at 65479.05.

Indian market continued on Tuesday as the frontline indices the Sensex and the Nifty settled at their record closing highs for the fourth consecutive session. Sensex opened at 65,503.85 against the previous close of 65,205.05 and hit its fresh record high of 65,672.97 in intraday trade before ending 274 points, or 0.42 per cent, higher at 65,479.05.

Top-performing BSE Sensex Index Funds in 5 years: The benchmark BSE Sensex index has jumped over 82% in 5 years from 35,657 in the first week of July 2018 to 65,205 points at the time of writing today. During this period, as many as five index funds tracking the BSE Sensex Total Return Index (TRI) have given an average annualised return of around 13.5%. In this period, the BSE Sensex TRI has grown by 14% annually.

Top-performing Index Funds in 5 years: The benchmark Nifty 50 index has jumped over 79% in 5 years from 10,772 in the first week of July 2018 to 19,313 points at the time of writing today. During this period, as many as 11 index mutual funds tracking the Nifty 50 Total Return Index have given an average annualised return of around 13%. In this period, the Nifty 50 TRI has grown by 13.7% annually.

Mutual Fund on Tuesday launched an open-ended equity scheme, Bandhan Financial Services Fund. This new scheme offers investors the opportunity to benefit from the multi-year growth opportunities in the financial services sector.

Synoptics Technologies Limited IPO: The initial public offer of Synoptics Technologies Limited opened for bidding on 30th June 2023 and it will remain open for subscribers till 5th June 2023. However, the public issue proposed for listing on NSE SME exchanged got fully subscribed one day ahead of the public subscription date. On day three of the Synoptics Technologies Limited IPO subscription date, Synoptics Technologies Limited IPO subscription status informs that the SME issue has been subscribed 1.31 times.

Sensex and Nifty50 are achieving new milestones almost every session, most money managers believe that the valuation at current levels is far more reasonable and that this rally after a good 18-month of correction phase has more legs. On Tuesday, the Sensex scaled a record high at 65672.97 points, and Nifty 50 at 19434.15 points.

On the technical charts, the 200-DMA of the stock stood at Rs 104.05, while the 50-DMA was at Rs 113.34. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

«I do not think that we would see a close below 44,500. In fact, 45,000 on an immediate basis is also good support and we see on an intraday basis Bank Nifty took support at 45,000 and has bounced back again,» says Jay Thakkar, Sharekhan.How are you witnessing the day's action so far? The chatter is getting louder, are we nearing a near-term top for the market? Do the charts indicate the same? Both Nifty and Bank Nifty actually came down pretty nicely in the first half of the session so far. I would say overall markets did see some profit booking up from the higher levels and that is fine. I would say that is healthy as well.

Bandhan Mutual Fund has announced the launch of the Bandhan Financial Services Fund, an open-ended equity scheme, that allows investors to benefit from the multi-year growth opportunities in the financial services sector. The New Fund Offer will open for subscription on July 10 and will close on July 24. “A significant portion of India’s economic growth is fueled by the financial services sector. Powerful enablers like increasing financial inclusion, growing digitization, and the relatively stronger balance sheet of banks and NBFCs provide visibility for strong earnings growth for this sector. It has been a key driver of returns for the capital market with the Financial Services Index growing 18X since inception compared to 10X for the Nifty 500 Index,” said Vishal Kapoor, CEO, Bandhan AMC. “The Bandhan Financial Services Fund will go beyond the traditional Banking sector by diversifying further with investments in Capital Markets, NBFCs, Insurance, and Fintech as well, providing investors with an opportunity to benefit from India’s long-term growth story,” added Kapoor.

It appears the valuation adjustment for IT stocks continues at a time even when the whole market is extremely bullish. After witnessing minor up move, IT stocks are once again under pressure.

Indian equities since March this year. An analysis by Bank of Baroda shows that India has registered FII inflow (equity) of $1,220 crore for the quarter ended 30 June.  Countries such as South Korea, Taiwan and Indonesia have received far less inflows compared with India, and notably, the US and Thailand have seen foreign portfolio investors moving out of their respective countries, said the report.

As Nifty and Sensex continue to move upward and form new highs, bulls are taking control of more sectors. Even the internal breadth of sectoral indices are on the positive side on most of the day.

At the interbank foreign exchange, the domestic unit opened at 81.90 against the dollar and then rose to 81.87, registering a gain of 4 paise over its previous close, as benchmark indices touched all-time highs. In initial trade, the rupee also touched a low of 81.95 against the American currency. On Monday, the rupee closed at 81.91 against the US currency.

United Spirits Ltd. traded 0.02 per cent down in Tuesday's trade at 11:28AM (IST). Around 10,170 shares changed hands on the counter.

Suzlon Energy(up 7.14%), Energy Development Company(up 5.85%), Power & Instrumentation(Gujarat)(up 4.10%), KEC International(up 2.47%), Inox wind(up 2.29%), JSW Energy(up 2.06%), RTNPOWER(up 1.89%), CESC(up 1.24%), Alstom T&D India(up 1.08%) and Inox Wind Energy(up 0.94%) were among the top gainers. Jyoti Structures(down 3.39%), NLC India(down 1.77%), Reliance Power(down 1.67%), Transformers and Rectifiers(India)(down 1.43%), KPI Green Energy(down 1.20%), Jaiprakash Power Ventures(down 0.79%), PTC India(down 0.74%), GE Power India Limited(down 0.74%), SJVN(down 0.59%) and NTPC(down 0.13%) were among the top losers.

Apollo Hospitals Enterprise Ltd. traded 0.05 per cent down at Rs 5067.15 on Tuesday at around 10:25AM (IST), while the benchmark BSE Sensex advanced 57.81 points to 65262.86. As many as 2,718 shares changed hands on the counter with a total value of Rs 1.38 crore.

The NSE Nifty index traded 6.6 points up at 19329.15, while BSE Sensex was up 56.39 points at 65261.44 as of 10:25AM(IST)on July 04. In the Nifty index, Bajaj Finance Ltd.(up 7.43 per cent), Bajaj Finserv Ltd.(up 5.10 per cent), Hero MotoCorp Ltd.(up 3.30 per cent), Adani Ports & Special Economic Zone Ltd.(up 1.52 per cent) and State Bank of India(up 1.25 per cent) were among the top gainers.

On the BSE, Ishaan Infrastru(down 12.70 per cent), Amanaya Ventures(down 9.62 per cent), Clara Industries(down 9.18 per cent), Kush Industries (down 8.99 per cent) and IOL Chemicals(down 8.36 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 22 stocks traded in the green, while 28 stocks traded in the red.