SENSEX Financial News

Tata Elxsi Ltd. fell 0.62 per cent to Rs 7266.0 in Monday's session as of 12:22PM (IST) even as the equity benchmark Sensex traded 123.32 points lower at 66560.94. Earlier in the day, the stock witnessed a gap up start to the session.

Stock market today: Amid weakness in Sensex heavy weight Reliance Industries Ltd (RIL) shares and tepid movement in leading IT stocks, Nifty PSU Bank index has come out as big support for the Indian stock market. The Nifty PSU Bank index has hit life-time high in Monday deals.

Southern Petrochemicals Industries(up 0.90%), Sikko Industries(up 0.69%), Mangalore Chemicals & Fertilizers(up 0.64%), Nagarjuna Fertilizers & Chem(up 0.56%), G S F C(up 0.48%), Madhya Bharat Agro Products(up 0.45%), KRISHANA(up 0.30%), National Fertilizer(up 0.28%), Chambal Fertilisers & Chemicals(up 0.24%) and Madras Fertlizers(up 0.18%) were among the top gainers. Agro Phos(down 0.89%), Gujarat Narmada Valley Fertilizers (down 0.35%), Fertilizers & Chemicals Tranvancore(down 0.34%), Paradeep Phosphates(down 0.32%), Coromandel International(down 0.27%), Deepak Fertilizers & Petrochemicals(down 0.27%), Rama Phosphates(down 0.20%), Bohra Industries(down 0.19%), Rashtriya Chemicals & Fertilizers(down 0.04%) and Aries Agro(down 0.03%) were among the top losers.

Ashapura Minechem(up 5.87%), 20 Microns(up 5.00%), Lexus Granito(up 1.55%), Gujarat Mineral Dvpt Corporation(up 1.06%), Madhav Marbles and Granites(up 0.70%), Coal India(up 0.41%) and MOIL(up 0.13%) were among the top gainers. Orissa Minerals Development Company(down 1.82%), Oriental Trimex(down 1.65%), Aro Granite Industries(down 0.70%), Pokarna(down 0.55%), NMDC Ltd(down 0.18%) and KIOCL(down 0.05%) were among the top losers.

DLF Ltd. traded 0.08 per cent lower in Monday's session at 11:05AM (IST).

On the BSE, Shine Fashions(down 12.73 per cent), Kriti Ind(down 11.66 per cent), Gyscoal Alloys(down 10.60 per cent), DCM Nouvelle(down 10.05 per cent) and Gautam Gems(down 9.99 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 33 stocks traded in the green, while 17 stocks traded in the red.

Glenmark Pharmaceuticals(up 2.45 per cent), Aurobindo Pharma(up 0.97 per cent), Gland Pharma(up 0.76 per cent), Dr Reddys Laboratories(up 0.54 per cent) and Sun Pharmaceutical Industries(up 0.39 per cent) were among the top gainers. Biocon(down 3.88 per cent), Natco Pharma(down 1.51 per cent), Cipla(down 0.85 per cent), Abbott India(down 0.69 per cent) and Divis Laboratories(down 0.5 per cent) were the top losers on the index.

Ambuja Cements Ltd. traded at Rs 422.55 on BSE at 10:20AM (IST) on Monday, up 1.54 per cent from previous close. The scrip quoted a 52-week low price of Rs 315.3 and a high of Rs 598.15.

The counter had a total traded volume of 10:10AM shares so far with a turnover of Rs 9317.0 crore on BSE. The stock traded at a price-to-earnings multiple of 94.06 and a price-to-book ratio of 6.23.

Foreign institutional investors (FIIs) sold shares worth a net of Rs 1,998.77 crore, while domestic institutional investors (DIIs) bought shares worth a net of Rs 1,290.73 crore on 21 July, according to the provisional data available on the NSE.

Reliance Industries and FMCG stocks. The BSE Sensex was trading 124 points or 0.19% lower at 66,560. Nifty50 was trading at 19,710, down 34 points or 0.17% at around 9.19 am.

Reliance Industries (RIL) have disappointed the Street as RIL's share price dipped over 2 per cent in early deals on Monday (July 24). On Friday, RIL reported its Q1FY24 scorecard which showed its consolidated revenue and profit declined during the quarter because of the weak show of O2C (oil-to-chemical) business. Reliance Industries reported a net profit of ₹16,011 crore, down 10.8 per cent, compared to ₹17,955 crore in the corresponding period last year.

rupee ended 4 paise lower at 81.95 a dollar. Market participants remain watchful of the US Federal Reserve and the European Central Bank policy meet this week which are widely expected to hike rates this week.

₹3,370.90 crore in the purchase on Friday, while DIIs sold shares for a net total of ₹193.02 crore.Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services: The near-term market trend will be influenced by a host of factors like the recent Q1 results, some major results expected this week and policy decisions like the Fed meeting outcome on Wednesday.Q1 results of RIL, though a tad disappointing on top and bottom line, are good when viewed from the perspective of the growth engines of the company - Jio Infocom and Reliance Retail - which are doing well and shows promise of improving, going forward. ICICI Bank has delivered the best results in the banking universe with 40% growth in net profit and impressive loan growth.

Day trading guide for today: Weakness in Reliance shares and major IT stocks like Tata Consultancy Services (TCS), Infosys, etc., key benchmark indices of the Indian stock market finished lower on Friday last week. Nifty index ended 234 points lower at 19,745 levels, BSE Sensex finished 887 points southward at 66,684 mark whereas Bank Nifty corrected 111 points and closed at 46,075 levels.

Buy or sell stocks for today: Following weakness in Reliance and major IT stocks, Indian stock market ended lower on Friday last week. NSE Nifty lost 234 points and closed at 19,745 levels while BSE Sensex nosedived 887 points and ended at 66,684 mark. Bank Nifty index dipped 111 points and closed at 46,075 levels.

Delta Corp, Balrampur Chini Mills Ltd, Indiabulls Housing Finance, Manappuram Finance, L&T Finance Holdings, and Punjab National Bank, are the six stocks that are a part of the F&O ban list by the stock exchange for Monday. The NSE updates the list of securities in F&O ban for trade everyday. The derivative contracts in the mentioned securities have crossed 95 per cent of the market-wide position limit and have been currently put in the ban period by the stock exchange, said NSE.

Infosys tanked over 8 per cent after it slashed the FY24 growth outlook. The 30-share BSE Sensex tanked 887.64 points or 1.31 per cent — its biggest single-day slide in over four months — to settle at 66,684.26.

₹43,804 crore in July so far, showed NSDL data. FPIs have infused a massive ₹43,131 crore in Indian markets so far this month, taking into account debt, hybrid, debt-VRR, and equities, according to exchange data. FPIs are likely on the path of recording the fifth monthly buying in the Indian market in a row.

Nifty 50 index and other key benchmark indices on Dalal Street, MSCI Indian index fell to the tune of 9 per cent during mid-session of Friday deals, that sparked attention of market observers and investors. However, the global index provider Morgan Stanley Capital International or MSCI claimed that the 9 per cent dip in India index was due to the incorrect security pricing during stock market's opening.

Indian stock market on Friday last week. However, for information to our readers, Reliance shares don't trade on Dalal Street only. Reliance Industries Limited or RIL shares are listed on London Stock Exchange (LSE) as well.