July 29, 2024
New Delhi, India
Market Overview:
- Sensex Today: The Indian benchmark equity indices, Sensex and Nifty 50, experienced flat trading on Monday, influenced by mixed sectoral performances. The Sensex fell by 50 points, while the Nifty hovered around the 24,800 mark. Key sectors like IT and FMCG faced selling pressure, while auto, capital goods, oil & gas, power, and realty stocks saw buying interest.
Key Highlights:
- Sector Performance: The IT, FMCG, and telecom sectors saw selling, whereas the auto, capital goods, oil & gas, power, and realty sectors recorded gains.
- Stock Movements:
- Adani Total Gas: PAT for Q1 increased 15% YoY to ₹172 crore.
- RNFI Services: Listed at a 90% premium on the NSE SME platform.
- Adani Wilmar: Swung to profitability with a Q1 PAT of ₹313 crore.
- Bandhan Bank: Hits the 10% upper circuit limit as target prices rise.
- ICICI Bank: Shares rose over 2% following strong Q1 results.
- IDFC First Bank: Shares fell 3% post-Q1 results.
- PNB: Stock up 7% after reporting a 159% YoY jump in Q1 profit.
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Nifty 50 Performance:
- Top Gainers: ICICI Bank, L&T, SBI, Reliance, and IndusInd Bank contributed positively to Nifty 50’s upside.
- Top Losers: Bharti Airtel, Tech Mahindra, Titan, ITC, and HDFC Bank dragged the index down.
Upcoming Earnings:
- Companies Reporting: ACC, BEL, CSB Bank, Adani Total Gas, HPCL, Data Patterns, Kansai Nerolac, Kalpataru Projects, and Strides Pharma are among the companies set to report their earnings today.
Indices Update:
- Sensex: As of 1335 IST, the BSE Sensex rose 127 points or 0.16% to 81,459. It closed at Rs. 81,355.84 up +23.12
- Nifty 50: The index inched up 38 points or 0.15% to 24,873, having touched a new all-time high of 24,999.75 earlier in the day. It closed at Rs. 24,836.10 up +1.25
- Nifty Midcap 100: Outperformed with a gain of 594 points or 1.03% at 58,362.
Market Sentiment: Despite the mixed performance of sectors, the overall market sentiment remains cautious. BPCL, L&T, and Divi’s Laboratories are among the top gainers in the Nifty 50. As Q1 Results earnings reports continue to come in, market volatility is expected to persist.
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