NIFTY Financial News

The NSE Nifty index was trading 114.75 points down at 19679.25, while BSE Sensex was down 401.02 points at 66007.37 at the time of writing this report. In the Nifty index, Tata Consumer Products Ltd.(up 1.99 per cent), IndusInd Bank Ltd.(up 1.69 per cent), HCL Technologies Ltd.(up 1.56 per cent), Cipla Ltd.(up 0.66 per cent) and Coal India Ltd.(up 0.60 per cent) were among the top gainers.

Godrej Consumer Products Ltd. rose 0.59 per cent to Rs 982.5 in Friday's trade as of 11:11AM (IST) even as the benchmark Nifty ruled at 19678.7, down 115.3 points. The scrip had closed at Rs 976.65 in the previous session.

On the technical charts, the 200-DMA of the stock stood at Rs 637.94, while the 50-DMA was at Rs 678.84. 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.

Phoenix Mills Ltd.(up 3.92 per cent), DLF Ltd.(up 1.54 per cent), Sobha Ltd.(up 1.42 per cent), Indiabulls Real Estate Ltd.(up 1.11 per cent) and Macrotech Developers Ltd.(up 1.1 per cent) were among the top gainers. Prestige Estates Projects Ltd.(down 1.24 per cent) were the top losers on the index.

On the BSE, Trident Lifeline(down 11.00 per cent), Angel Fibers(down 9.97 per cent), SSPN Finance L(down 9.88 per cent), Photoquip Ind(down 9.71 per cent) and Sea Gold Infra.(down 8.96 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 16 stocks traded in the green, while 34 stocks traded in the red.

Ashok Leyland Ltd. traded 0.51 per cent up in Friday's trade at 10:51AM (IST). Around 167,394 shares changed hands on the counter.

Indowind Energy(up 4.84%), Voltamp Transformers(up 3.16%), JSW Energy(up 2.81%), SJVN(up 2.40%), KPI Green Energy(up 2.03%), KEC International(up 1.18%), Orient Green Power Company(up 1.10%), Transformers and Rectifiers(India)(up 0.23%) and Hitachi Energy India(up 0.01%) were among the top gainers. Karma Energy(down 3.66%), Energy Development Company(down 2.44%), Alstom T&D India(down 2.04%), Torrent Power(down 1.82%), Power & Instrumentation(Gujarat)(down 1.73%), Adani Power(down 1.43%), Jaiprakash Power Ventures(down 1.03%), GE Power India Limited(down 0.99%), Indo Tech Transformers(down 0.94%) and Adani Energy Solutions(down 0.91%) were among the top losers.

Balrampur Chini Mills(up 0.23%), Kothari Sugars & Chemicals(up 0.19%) and Mawana Sugars(up 0.14%) were among the top gainers. MAGADHSUGAR(down 1.58%), Triveni Engineering & Industries(down 1.52%), BAJAJHIND(down 1.18%), Dalmia Bharat Sugar & Industries(down 1.14%), Dhampur Sugar Mills(down 1.09%), Simbhaoli Sugars(down 0.99%), Sakthi Sugars(down 0.96%), AVADHSUGAR(down 0.94%), EID Parry(down 0.78%) and Bannari Amman Sugars(down 0.53%) were among the top losers.

Day trading guide for today: After showing a sustainable upside move in the last couple of sessions, Indian stock market shifted into consolidation and closed lower on Thursday. Nifty 50 index went off 17 points and closed at 19,794 levels, BSE Sensex shed 64 points and ended at 66,408 mark. However, Nifty Bank index finished 82 points higher at 44,599 levels.

₹3543 on Thursday. "The market is likely to remain under pressure because of a disappointing show by the IT majors," said Dhiraj Relli, MD & CEO, HDFC Securities.

Indian markets are likely to open on a positive no... moreIndian markets are likely to open on a positive note on Wednesday following gains in global peers ahead of US inflation numbers.

Also Read: 6 things that changed for the stock market overnight - Gift Nifty to US inflation Here’s what to expect from Nifty 50 and Bank Nifty today: Nifty 50 remained in a range-bound pattern after a flat opening on Thursday. “We can expect the market to continue this range-bound movement until Nifty makes a decisive breakout either above 19,850 or below 19,750.

HCL Technologies share price rallied over 2% in the early trade on Friday after the company reported its earnings for the second quarter of FY24. HCL Technologies share price rose as much as 2.77% to ₹1,258.00 apiece on the BSE.HCL Technologies, the third largest IT services company in India, reported 8.55% QoQ growth in Q2FY24 net profit at ₹3,833 crore.

Sensex declined 64 points to close at 66,408 and the broader Nifty dropped 17 points to close below 19,800 level. Stocks that were in focus included names like NMDC, which rose 5.42%, Britannia, which rose 0.1%, and Laurus Labs, whose shares jumped 0.14% on Thursday. Here's what Amol Athawale, VP-Technical Research at Kotak Securities, recommends investors should do with these stocks when the market resumes trading today. NMDC — Buy Last Thursday, the stock registered a fresh 52–weeks high of 159.90, and this week so far, the stock rallied nearly 10 percent. On daily and weekly charts, the stock has formed a long bullish candle and it is also holding an uptrend continuation formation which is largely positive. For the breakout trades now, 152-150 would be the key support levels to watch out.

Buy or sell stocks for today: Indian stock market snapped two days rally and ended lower on Thursday. Nifty 50 index went off 17 points and closed at 19,794 levels, BSE Sensex shed 64 points and ended at 66,408 mark.

Tata Consultancy Services failed to lift the sentiments on the IT pack, it was the turn of Infosys that reported its Q2 performance on Thursday. The nervousness in the market was visible as the Nifty IT Index was down 1.67% led by correction in share prices of TCS, HCL Technologies that were down 1.78-1.85%, while Infosys share price declined sharper 2.85%. Infosys reported revenues at ₹38,994 Crore were up 6.7% y-o-y and 2.8% sequentially.

₹1,532.08 crore in Indian stocks today. As per the NSE data, FIIs cumulatively bought ₹8,601.4 crore of Indian equities, while they sold ₹10,463.97 crore --- resulting in an outflow of ₹1,862.57 crore on Thursday.

HDFC Bank Ltd Bagaria has recommended a Buy on the HDFC Bank stock at ₹1547 and up to ₹1510 for a target price of ₹1700 to 1780. On the daily chart the stock has bounced from support of 1490 levels and currently trading at 1547 forming a three rising soldiers pattern, as per Bagadia More over the stock has also crossed the initial resistance of 1545 which is also close to its 20 day EMA levels .

Shares of Persistent Systems Ltd.(up 0.18 per cent) ended the day as top gainers in the pack. On the other hand, Tech Mahindra Ltd.(down 2.66 per cent), Infosys Ltd.(down 1.93 per cent), Tata Consultancy Services Ltd.(down 1.86 per cent), HCL Technologies Ltd.(down 1.75 per cent) and LTIMindtree Ltd.(down 1.71 per cent) finished as the top losers of the day.

MAGADHSUGAR(up 4.22%), Dalmia Bharat Sugar & Industries(up 3.42%), AVADHSUGAR(up 1.87%), Uttam Sugar Mills(up 1.43%), Triveni Engineering & Industries(up 1.41%), Simbhaoli Sugars(up 1.33%), DCM Shriram Industries(up 1.20%), Dhampur Sugar Mills(up 0.67%), Ponni Sugars(Erode)(up 0.61%) and Ugar Sugar Works(up 0.42%) stood among the top gainers. EID Parry(down 1.65%), Rajshree Sugars & Chemicals(down 1.10%), Kothari Sugars & Chemicals(down 1.03%), Balrampur Chini Mills(down 0.97%), KCP Sugar & Industries(down 0.92%), Mawana Sugars(down 0.89%), Vishwaraj Sugar Industries(down 0.84%), Bannari Amman Sugars(down 0.70%), Shree Renuka Sugars(down 0.46%) and Dwarikesh Sugar Industries(down 0.45%) were among the top losers of the day.

Shares of Bosch Ltd.(up 3.84 per cent), TVS Motor Company Ltd.(up 3.07 per cent), Maruti Suzuki India Ltd.(up 1.62 per cent), MRF Ltd.(up 0.87 per cent) and Bajaj Auto Ltd.(up 0.83 per cent) ended the day as top gainers in the pack. On the other hand, Ashok Leyland Ltd.(down 1.04 per cent), Hero MotoCorp Ltd.(down 0.4 per cent) and Tube Investments of India Ltd.(down 0.26 per cent) finished as the top losers of the day.