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Sensex, Nifty close at record highs; IT, realty top gainers; pharma stocks drag

Market closing: Sensex, Nifty closed at record highs on Thursday.Premium
Market closing: Sensex, Nifty closed at record highs on Thursday.

  • Market clsoing: The Sensex closed at 53,158.85, up 254.80 or 0.48%, while the Nifty was at 15,924.20, up 70.25 points or 0.44% on Thursday. Realty index outperformed today. The IT sector was buoyed by Infosys and L&T twins’ strong Q1 earnings.

Sensex, Nifty closed over 0.47% higher on Thursday. All eyes will be on Wipro's earnings due later today. Broader Asian markets were mixed on Thursday China's better than expected growth data drove up the Shanghai Composite Index.

15 Jul 2021, 03:48:51 PM IST

Market closing quote: Harsh Agarwal, co-founder, RAIN Technologies

"Money flow and liquidity continue to guide markets to new highs. We anticipate this pattern to continue going forward. The bank index is still about 10% off from its previous highs, giving the markets the comfort of possible sector rotation. This should keep the Nifty well supported. The RBI and the policymakers continue to enjoy sufficient room and levers to trigger an economic recovery. All in all, the markets remain healthy."

15 Jul 2021, 03:44:04 PM IST

Rupee gains 5 paise to close at 74.54 against US dollar

15 Jul 2021, 03:42:12 PM IST

Market closing

The Sensex closed at 53,158.85, up 254.80 or 0.48%, while the Nifty was at 15,924.20, up 70.25 points or 0.44% on Thursday. Realty index outperformed today. The IT sector was buoyed by Infosys and L&T twins’ strong Q1 earnings. HCL Tech, L&T, Tech Mahindra, and 14 other stocks closed in green, while Bharti Airtel, M&M, Titan, and 10 other stocks closed in red.

Sensex at close
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Sensex at close
15 Jul 2021, 03:27:59 PM IST

PM Modi says exporting skilled manpower should be India’s key strategy

Exporting skilled manpower to other countries should be the core strategy of India’s skills mission, Prime Minister Narendra Modi said Thursday.

Addressing the annual skill development and entrepreneurship event, PM Modi said while India must continue to focus on skilling and up-skilling, mapping of global skill requirements and supplying manpower should be the key strategy. (Read here)

15 Jul 2021, 03:12:26 PM IST

Narendra Solanki, head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers on market performance.

“Indian markets started on a positive despite mixed Asian market cues with China reporting its economy grew in the second quarter by 7.9% year-on-year which was marginally lower than expectations of 8.1%. During the afternoon session markets went from strength to strength escalating to all time high point on sustained buying activities by funds and retail investors. Sentiments were upbeat with a private report stated that IT spending in the country is expected to grow at 8% to $92.7 billion in 2021. The growth at 8% is a shade less than the world average of 8.6% and global spends on information technology are estimated to come at $4.2 trillion. The sector leaders for today's move were IT, realty, metals, financials and banks."

15 Jul 2021, 02:54:40 PM IST

Crude oil futures dip on weak spot demand

Crude oil prices on Thursday fell 96 to 5,355 per barrel after participants cut their positions. On the Multi Commodity Exchange, crude oil for the July delivery dropped by 96, or 1.76 per cent, to 5,355 per barrel with a business volume of 3,566 lots. Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid a weak spot demand.

Globally, West Texas Intermediate crude oil was trading 1.93 per cent lower at USD 71.72 per barrel. Meanwhile, Brent crude, the international benchmark, fell 1.55 per cent to trade at USD 73.60 per barrel in New York.

15 Jul 2021, 02:35:06 PM IST

Sensex heatmap

IT stocks, HDFC Bank top gainers
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IT stocks, HDFC Bank top gainers
15 Jul 2021, 02:32:28 PM IST

L&T Infotech, HCL drive gains

Nifty IT index
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Nifty IT index
15 Jul 2021, 02:16:23 PM IST

Emkay Global surges 19%

Financial services firm Emkay Global's stock was trading at 130.30 apiece, up 19.76% at 2:09 pm. Recently, the company's asset management arm Emkay Investment Managers Ltd (EIML) has launched the fourth series of its maiden Category III Alternative Investment Fund (AIF) - Emkay Emerging Stars Fund. The portfolio management services (PMS) firm aims to raise 500 crore from the latest fund.

15 Jul 2021, 02:16:23 PM IST

Muthoot Microfin raises ₹75 cr via market-linked debentures

Muthoot Microfin Ltd, the microfinance arm of Thiruvananthapuram-based Muthoot Pappachan Group, on Thursday said it has raised 75 crore through market-linked debentures (MLD) in the June. (Read here)

15 Jul 2021, 02:05:00 PM IST

Tata launches fleet operator exclusive 'Xpres' brand

Tata Motors announced Wednesday the launch of its new brand ‘Xpres’ exclusively aimed at fleet customers. The company will offer fleet-specific needs of safety, passenger comfort, and low cost of ownership under the ‘Xpres’ brand. The first car under the 'Xpres' brand will be an all-electric sedan called ‘XPRES-T’ EV, the updated version of Tata Tigor EV. (Read here)

15 Jul 2021, 01:53:44 PM IST

Jubilant Pharmova's Roorke facility placed under import alert by USFDA

Jubilant Pharmova's stock was trading at 721.65 apiece, down 3.99% at 1:53 pm. The USFDA has placed the company's Roorke facility under import alert after an inspection conducted in March. The agency has exempted Meclizine tablets, Olanzapine orally disintegrating tablets, Risperidone orally disintegrating tablets, Spironolactone tablets, and Valsartan tablets from the import alert subject to the company meeting a few conditions, Jubilant Pharmova said in a regulatory filing.

15 Jul 2021, 01:47:42 PM IST

Aviation ministry issues draft rules to ensure ease of using drones in India

The Ministry of Civil Aviation has issued draft rules to ensure ease of using drones in India on the basis of "trust, self-certification and non-intrusive monitoring", an official statement said on Thursday. The number of forms to be filled to operate drones in the country have been reduced to six in draft ‘Drone Rules, 2021’ in comparison to 25 forms mentioned in the Unmanned Aircraft System (UAS) Rules, 2021, it said. The UAS Rules, 2021 came into force on March 12 this year. The Drone Rules, 2021, once notified, will supersede the UAS Rules, 2021. (PTI)

15 Jul 2021, 01:33:47 PM IST

Market analysis: Yash Gupta, equity research associate, Angel Broking

"Today, Nifty has broken the all-time high of 15,904 and reached a new high of 15,945 on the back of positive global sentiments and better than expected results from the IT sector. Nifty is trading at 15,940, up by 86 points (0.56%), and Sensex at 35,955, up by 291 points (0.80%). IT sector was the star performer since the last two trading sessions and today, S&P BSE Information Technology is up by 1.38% on back of better than expected results by IT companies while S&P BSE Capital Goods is up by 2.05%. Larsen & Toubro is up by 4.2%, HCL Tech up by 4.72% while banking and pharma sectors are consolidating. We expect the market to remain in momentum and we may see some consolidation in the pharma sector. We suggest retail investors to stick to quality midcap & large cap stocks as we expect them to outperform the market."

15 Jul 2021, 01:30:35 PM IST

Zomato IPO subscribed 1.30x

On day two of the Zomato IPO, 93,45,70,845 shares had been subscribed compared to 71,92,33,522 reserved shares.

15 Jul 2021, 01:23:44 PM IST

Just Dial gains on potential deal talks with RIL

Just Dial's stock was trading at 1,109.95 apiece, up 2.76% at 1:20 pm. The company is reportedly in talks with Reliance Industries for potential acquisition. Just Dial was also in potential talks with Tata Digital, according to media reports.

15 Jul 2021, 01:13:04 PM IST

Paytm may raise ₹8,300 cr via IPO: report

  • Paytm aims to raise 8,300 cr via IPO CNBC Tv18 reported citing people familiar with the matter
  • Around 2,000 cr may be pre-IPO
  • 8,300 OFS
  • Total issue valued at 16,600 cr

15 Jul 2021, 01:03:09 PM IST

Marico hits 52-week high as company acquires majority stake in Apcos Naturals

Shares of Marico rose 3.1% to hit 52-week high of Rs549.50 after the company announced acquiring 60% stake in Apcos Naturals, as part of strategic investment, for an undisclosed amount. (Read here)

15 Jul 2021, 12:43:06 PM IST

BLS International Services gains

The company's stock was trading at 139.55 apiece, up 4.45% at 12:33 pm. BLS International has partnered with Flipkart to enable last mile delivery, it said.

15 Jul 2021, 12:43:06 PM IST

Sequent Scientific gains

Sequent Scientific's stock was up 6.20% to 284.40 apiece. The company announced the EUGMP approval of its tablets dosage manufacturing line in Turkey. The EU regulator also renewed the license for 8 other manufacturing lines for various dosage forms, the company said.

15 Jul 2021, 12:25:22 PM IST

Covid 2.0 impact on housing sales less harsh than 2020: Knight Frank

The impact of the second wave has been more of a speed-bump than a major obstruction for the residential sector in India, even though sales and launches fell in the April-June compared to the preceding March quarter. According to property advisory Knight Frank India’s “India Real Estate – Residential, January-June 2021" report, the January-June period recorded home sales of 99,416 residential units, a 67% rise compared to H1 2020. Project launches were recorded at 103,238 units in H1 this year, witnessing a 71% surge compared to the corresponding period last year. (Read here)

15 Jul 2021, 12:14:19 PM IST

Amid record high petrol, diesel prices India reaches out to UAE

India has reached out to United Arab Emirates (UAE) as part of energy security efforts, with the newly appointed Union cabinet minister Hardeep Singh Puri on Wednesday having a telephone conversation with Dr. Sultan Ahmed Al Jaber, the oil rich nation’ industry and advanced technology minister.

Jaber is also the managing director and chief executive of state-owned Abu Dhabi National Oil Company (Adnoc), one of the only two firms to commit to India’s crude oil reserve programme till date.

15 Jul 2021, 12:10:27 PM IST

IFC invests $16.5 mn in MedGenome to increase covid testing in India

International Finance Corporation, member of the World Bank Group, is investing $16.5 million (around 123 crore) in genetic diagnostics and research company MedGenome to increase access to covid-19 testing in India.

The partnership, apart from increasing the access to covid-19 testing, will also support research to better help understand the virus, its variants and manage future outbreaks, IFC and MedGenome said in a statement on Thursday. (PTI)

15 Jul 2021, 11:53:25 AM IST

IT, banks, financials top gainers

Nifty sectoral indices
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Nifty sectoral indices
15 Jul 2021, 11:51:54 AM IST

Sedition law was meant to suppress freedom movement, used by Britishers to silence Mahatma Gandhi, others: SC

15 Jul 2021, 11:51:34 AM IST

SC seeks response of Centre on pleas challenging constitutional validity of ‘colonial-era’ penal law on sedition

15 Jul 2021, 11:38:53 AM IST

Dodla Dairy: Amarjeet Maurya - AVP - Mid Caps, Angel Broking says 'positive' on the stock

"During the Q4FY21, Dodla Dairy Ltd (DDL) reported revenue of 531 crore (up 1% year-on-year). On the Ebitda front, the company has reported 36 crore and ebitda margin at 6.8%, which is up by 410 bps y-o-y due to lower raw materials cost. On the bottom-line front, net profit was at 10 crore as compared to loss of 2 million in Q4FY20. Overall Q4FY21 results were in line with expectation. Hence, we are positive on stock."


15 Jul 2021, 11:27:20 AM IST

Pfizer, J&J yet to apply for license of covid-19 vaccines in India

American pharma giants Pfizer and Johnson & Johnson are yet to apply for emergency use authorisation (EUA) for their Covid-19 vaccines, reported news agency ANI quoting sources. This comes days after the central government said earlier last week that it is holding discussions with Covid-19 vaccine manufacturers Moderna and Pfizer over several issues including indemnity waiver. (Read here)

15 Jul 2021, 11:25:57 AM IST

Tata Motors and M&M enthused about creation of EV ecosystem in Maharashtra

Two of India’s biggest electric vehicle manufacturers, Tata Motors Ltd and Mahindra and Mahindra Ltd, expect that adoption of electric vehicles and creation of a suitable ecosystem will get a fillip in Maharashtra due to the state government’s revised incentive policy for electric mobility. (Read here)

15 Jul 2021, 11:24:22 AM IST

HDFC twins, L&T drive gains

Index contributions
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Index contributions
15 Jul 2021, 11:01:59 AM IST

RBI governor warns of downsides to direct financing of govt deficit: report

Direct financing or monetisation of the government's fiscal deficit by the central bank has several downsides, Reserve Bank of India governor Shaktikanta Das said in an interview with the Financial Express. "This (creating new money to finance the deficit) was done away with as part of the economic reforms … and it was further repudiated when the FRBM Act was enacted," Das told the paper. He added that the RBI's role as the government's debt manager had helped quicken the pace of monetary policy transmission during the pandemic as lower funding rates co-existed with plenty of liquidity. Das also denied the RBI's sustained focus on yield-curve control was impacting its focus on inflation and repeated that it was only interested in an orderly evolution of the yield curve. (Reuters)

15 Jul 2021, 10:50:41 AM IST

Expleo Solutions gains on consolidation move

Expleo Solutions' stock was at 1,339.10 apiece, up 6.38% at 10:48 am. Recently, the company's board approved the merger entities Expleo India Infosystems

Pvt. Ltd, Expleo Technologies India Pvt. Ltd, Expleo Engineering India Pvt. Ltd, and Silver Software Development Centre Pvt. Ltd with Expleo Solutions Ltd.

15 Jul 2021, 10:42:01 AM IST

Nifty trajectory: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

"The Nifty is slowly inching towards the 15,900 level. 15,915 (the high recorded on 28 June) is the precise level we need to close above. If the index manages to do that, we should be able to scale higher to 16,100. The bias for the current market is on the upside and hence dips and corrections can be used to accumulate long positions. 15,400 is a good support and as long as we do not break that on a closing basis, we are in bullish terrain."

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15 Jul 2021, 10:29:21 AM IST

L&T Tech gains

The company's stock was at 3,340.15 apiece, up 14.77% at 10:28 am. L&T Tech on Wednesday reported an 84% jump in its June quarter net at 216.2 crore, largely on widening margins. The city-based company, the engineering and research and development services arm of the infra major L&T, had posted a net profit of 117.2 crore in the year-ago period. Its overall revenue increased by 19.42% to 1,562.6 crore for the reporting quarter, while the operating profit widened 5.20% to 17.3%, its highest ever.

15 Jul 2021, 10:15:13 AM IST

Rupee gains 12 paise to 74.47 against US dollar in early trade.

15 Jul 2021, 09:52:21 AM IST

Banks, financials gain

Nifty sectoral indices
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Nifty sectoral indices
15 Jul 2021, 09:35:48 AM IST

India reports 41,806 new covid-19 infections in the last 24 hours

India reported on Thursday 41,806 new coronavirus cases in the last 24 hours, health ministry data showed, with deaths rising by 581.

15 Jul 2021, 09:35:48 AM IST

Indian rupee’s wild ride coming to an end, top forecaster says

The Indian rupee looks set to end its recent volatile phase as surging foreign inflows and a possible hawkish turn by the central bank curb swings, according to Credit Agricole CIB, the currency’s top forecaster. After turning from being Asia’s best performer in the first quarter to its worst in April when another wave of Covid-19 infections took hold, the rupee is now likely to trade in tight ranges in the coming quarters, said Dariusz Kowalczyk, the bank’s head of Asia research, ex-Japan. He expects the currency to be at 74 per dollar at year-end, versus Wednesday’s close of 74.59. (Read here)

15 Jul 2021, 09:28:42 AM IST

Market opening

The Sensex opened at 52,968.89, up 64.84 points or 0.12%, while Nifty was at 15,872.15, up 18.20 points or 0.11%. IT, realty were top gainers.

Sensex at open
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Sensex at open
15 Jul 2021, 09:13:36 AM IST

Market pre-opening

The Sensex was at 52,968.89, up 64.84 points, or 0.12%, while the Nifty was at 15,872.15, up 18.20 points or 0.11% at market pre-opening on Thursday.

Sensex at pre-open
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Sensex at pre-open
15 Jul 2021, 09:10:46 AM IST

Hatsun Agro reels from impact of second wave: Chairman

Hatsun Agro lost nearly 250 crore in revenue owing to lockdowns in the wake of the second covid wave, chairman RG Chamdramogan said in an interview. The curbs hit the company's ice cream sales since they coincided with the peak season for ice cream demand. The company noted momentum in sale of branded products.

15 Jul 2021, 09:06:48 AM IST

RBL expects to switch to Visa platform in 8-10 days: report

RBL Bank on Thursday said that it has entered into an agreement with Visa Worldwide to start issuance of credit cards on the Visa platform, the lender informed the indices. The bank also added that it will be able to issue the new cards after technology integration which is expected to take 8 to 10 weeks.. (Read here)

15 Jul 2021, 09:00:28 AM IST

RBI bars Mastercard from issuing new credit, debit cards

Barely three months after cracking the whip on American Express and Diners Club for non-compliance with local data storage norms, the Reserve Bank of India (RBI) on Wednesday barred Mastercard Asia from signing up new card customers on similar grounds. (Read here)

15 Jul 2021, 08:41:48 AM IST

Bitcoin, ether, dogecoin trade with marginal gains

Cryptocurrencies were trading with marginal gains today with Bitcoin rising above $33,000 level over the past 24 hours. The world's largest cryptocurrency by market capitalization has been stuck in a range between about $30,000 and $40,000 for weeks after reaching its all-time high near $65,000. Despite bitcoin's struggles this year, the world's most popular cryptocurrency is up about 13% in price in 2021 (year-to-date). (Read here)

15 Jul 2021, 08:31:02 AM IST

Stocks to Watch

Adani Enterprises, Infosys, L&T Tech, Marico, Reliance Power, among other stocks may be in focus today. (Read here)

15 Jul 2021, 08:27:58 AM IST

Delhi HC to hear Amadeus vs Sabre Air India contract matter on 22 Jul

Sabre had challenged the award of Air India’s passenger services system contract to Amadeus on grounds that its product would save the national air carrier 900 crore, according to meda reports.

15 Jul 2021, 08:19:47 AM IST

71 districts have tap connections in each house: Jal Jeevna Mission director

15 Jul 2021, 08:19:47 AM IST

Day trading guide for Thursday: 6 stocks to buy or sell today — July 15

The northward move with range bound action continued in the Indian stock market on Wednesday and the NSE Nifty closed the day higher by 41 points. According to the market experts, this action signals range bound action in the market with 'buy on dips' as day trading guide for Thursday at stock market today. The Nifty is nearing a crucial overhead resistance of 15,900 levels and made a swing high of 15,877 on Wednesday. As happened in the previous few occasions, the lack of strength at the highs is emerging in the market near the crucial overhead resistance. Volumes on the NSE were in line with recent averages. Among sectors, IT and Capital Goods rose the most while Oil & Gas and Realty fell the most. BSE Mid-cap and small-cap indices ended 0.21 per cent and 0.24 per cent higher respectively. (Read here)

15 Jul 2021, 08:10:46 AM IST

Petrol, diesel prices hiked today after two-day pause

After remaining unchanged for two consecutive days, petrol and diesel prices were hiked again on Thursday. Petrol prices were hiked by up to 35 paise whereas diesel prices were increased by 15 paise across metros, according to a price notification by state-owned fuel retailers. After the latest revision, petrol now costs at 101.54 in Delhi, whereas diesel is retailing at 89.87. In India's financial capital Mumbai, petrol is being sold at 107.75 per litre, whereas diesel price has risen to 97.45 per litre. In Kolkata, petrol price reached 101.74 per litre whereas diesel price increased to 93.02 per litre. (Read here)

15 Jul 2021, 07:56:47 AM IST

Indian talent moving to Canada due to outdated H1B visa policy, US lawmakers told

The much sought-after Indian talent is now getting attracted towards Canada in large numbers, away from the United States because of its outdated H-1B visa policy, immigration and policy experts have told US lawmakers. This is mainly because of the per-country quota on issuing employment-based green card or permanent residency, the experts said on Tuesday, urging the Congress to act fast to prevent the Indian talent from moving to Canada from the US. (PTI)

15 Jul 2021, 07:44:31 AM IST

Asian stocks mixed after Powell as china data loom

Asian stocks were mixed Thursday as traders await China growth data and digest Federal Reserve Chair Jerome Powell’s signal that more US economic progress is needed before stimulus can be pared back. Oil slid. Shares slipped in Japan, rose in Hong Kong and were little changed in China. US contracts fluctuated after modest S&P 500 and Nasdaq 100 gains on Powell’s reassurance over accommodative policy and reiteration that high inflation will likely moderate. Treasury yields fell and the dollar held a retreat. S&P 500 contracts shed 0.1% as of 10:41 a.m. in Tokyo. The S&P 500 rose 0.1%

Nasdaq 100 contracts were flat. The Nasdaq 100 rose 0.2%

Japan’s Topix index lost 0.7%

Australia’s S&P/ASX 200 index rose 0.1%

South Korea’s Kospi index added 0.2%

Hong Kong’s Hang Seng index rose 0.3%

China’s Shanghai Composite index was little changed

SGX Nifty was flat at 0.02% with a positive bias

15 Jul 2021, 07:30:40 AM IST

Wall Street witnesses mixed closing after Fed chair allays inflation fears

Global stocks prices closed flat and bond yields edged lower on Wednesday after U.S. Federal Reserve Chair Jerome Powell soothed investor angst by saying a recent inflation spike will fade, helping lift the S&P 500 to a fresh intraday record. Powell said in congressional testimony that high inflation was for goods and services tied to the reopening and the U.S. economy was "still a ways off" from levels the Fed wanted to see before tapering its stimulus support.

On Wall Street, the Dow Jones Industrial Average rose 0.13%, the S&P 500 added 0.12% and the Nasdaq Composite slipped 0.22%.

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