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Business News/ Markets / Stock Markets/  Market Closing: Sensex at record high, Nifty tops 19,700 as banks lead gains; SBI, Reliance, HDFC Bank top charts
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Market Closing: Sensex at record high, Nifty tops 19,700 as banks lead gains; SBI, Reliance, HDFC Bank top charts

Market Close: Sensex and Nifty closed at record high on Monday with IT, banks and FMCG stocks leading the gains. HDFC Bank, SBI, Reliance contributed to the rally in the markets which shrugged off weak global cues

Sensex and Nifty closed at record high on Monday. (MINT_PRINT)Premium
Sensex and Nifty closed at record high on Monday. (MINT_PRINT)

Domestic benchmark indices closed at record high on Monday despite weak global cues. Sensex ended near 66,590, while Nifty closed above 19,700 for the first time. Reliance, Wipro, Adani Enterprises, SBI were the chart toppers. HDFC Bank share price rebounded from intraday low as Q1 profit jumped 30%. Asian stocks witnessed a decline amid concerns that the Federal Reserve has not yet managed to control inflation. 

17 Jul 2023, 03:44:45 PM IST

Market Closing: Sensex at record high, Nifty tops 19,700 as banks lead gains; SBI, Reliance, HDFC Bank top charts

Benchmark equity indices, the Sensex and the Nifty, continued their trend of setting new records, despite weak global indicators linked to worries of an economic deceleration in significant economies, notably after China announced its second-quarter growth data.

Both the indices achieved new all-time intraday highs with Sensex closing at 66,589, up 529 points, and Nifty ending at 19,683. This performance underscores the robustness and fortitude of the domestic market in the face of global challenges. Bank Nifty closed 1.41% higher.

State Bank of India, Dr Reddy's Laboratories, Wipro, Reliance and HDFC Bank were the top gainers in the rally today

BSE Sensex
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BSE Sensex
17 Jul 2023, 03:25:23 PM IST

Stock market updates: Nifty crosses 19,700 for the first time as banks and financial services shine

Nifty
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Nifty
17 Jul 2023, 03:22:14 PM IST

Stock market updates: Central Bank of India reported a 78% increase in net profit, shares up 1.5%

Central Bank of India reported a 78% increase in net profit for the June quarter to 418 crore due to a reduction in bad loans and a rise in interest income. Total income for the reviewed quarter rose to 8,184 crore, up from 6,357 crore in FY23.

17 Jul 2023, 03:13:52 PM IST

Stock market updates: Sensex at day's high, hits 66,500 led by SBI, Reliance, HDFC

BSE Sensex
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BSE Sensex
17 Jul 2023, 03:07:26 PM IST

Stock market updates: HDFC Bank Q1 earnings review by Shreyansh Shah, research analyst, Stoxbox

India's largest private sector lender, HDFC Bank Ltd., reported decent Q1FY24 results, with net profit beating market estimates. However, there was some visibility of weak NII and asset quality wherein the bank’s NII missed market estimates and NPAs rose marginally on a sequential basis. The improvement in profitability was on account of lower provisioning and growth in other income which had trading and mark-to-market gain and recoveries. Though advances and deposits were marginally higher on a sequential basis, we feel that the merged entity will further improve the performance going forward. We expect the subdued performance of NIMs in the current quarter to not continue going forward as there will be an improvement in NIMs on account of the merger which was took effect from July 01, 2023. Also, the subsidiaries like HDFC Life, HDFC AMC and HDFC Ergo which were erstwhile subsidiaries of HDFC Ltd. will have huge distribution leverage as they are now the subsidiaries of HDFC Bank. These subsidiaries will get benefits of the bank’s 8,500 branches plus the addition of 1,500 branches every year, thereby increasing the SOTP value of HDFC Bank.

17 Jul 2023, 02:52:19 PM IST

Stock market updates: Global markets stumble as Chinese economic growth slows down more than expected

Global stocks and commodities witnessed a downturn on Monday following concerns that China's economy is expanding at a significantly slower pace than anticipated. Shares in both Asia and Europe retreated on Monday after the data.

China announced an economic expansion of 0.8% in the second quarter, slightly above the projected 0.5%, but the annual growth rate decelerated more than predicted to 6.3%, considerably under the anticipated 7.3%.

17 Jul 2023, 02:37:39 PM IST

Stock market updates: Ashok Leyland gains 2.5% as company bags orders worth ₹800 crore from Indian Army

17 Jul 2023, 02:22:35 PM IST

Stock market updates: Reliance, HDFC Bank and SBI are major contributors to the rally in Sensex

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17 Jul 2023, 02:08:55 PM IST

Market Live updates: ZEE board forms interim committee to run ops after Sebi bars Goenka

The board of Zee Entertainment Enterprises Ltd (ZEEL) has formed an interim committee of senior executives to run operations at the company after managing director and chief executive Punit Goenka failed to get relief from the Securities Appellate Tribunal (SAT) against an order by markets regulator that barred him from holding any key position in any listed company.

17 Jul 2023, 01:51:43 PM IST

Stock market updates: Netweb Technologies IPO subscribed 94% on day 1 so far on strong investor interest

The initial public offering (IPO) of Netweb Technologies Ltd was subscribed 94% on Day 1 so far. The public issue that opened for subscription on Monday, July 17, and will end on Wednesday, July 19.

Employees and retail investors enthusiastically responded to the issue on the first day of subscription, followed by non-institutional investors (NIIS), and qualified institutional buyers (QIBs).

Retail investors portion was subscribed 1.38 times, employee portion was subscribed 3.79 times, NIIs portion was subscribed 1.06 times, and QIBs portion was subscribed 1%.

The public issue that opened for subscription on Monday, and will end on Wednesday.

17 Jul 2023, 01:40:38 PM IST

Stock market updates: HDFC Bank share price rebounds from intraday low as Q1 profit jumps 30%

17 Jul 2023, 01:27:16 PM IST

Market Live updates: Indian cos more confident on business outlook vs peers; watch out for headwinds

Global trade has been slowing down, as reflected in the sharper than expected decline in China’s exports. Even India’s trade has decelerated

Indian firms in the manufacturing and services sectors have a comparatively more optimistic business outlook than many of their global counterparts, according to the latest S&P Global's India Business Outlook. (Full report)

17 Jul 2023, 01:12:01 PM IST

Market Live updates: Crude oil prices declined for the second day as Libyan fields restart production, China data misses estimate

Oil prices declined for the second consecutive day as a significant Libyan oil field restarted production and China's economic growth fell short of predictions. The global benchmark Brent slipped below $79 a barrel, following a 1.8% drop on Friday. Production recommenced at Sharara, one of Libya's largest oil fields, after protesters vacated the site, according to an individual acquainted with the situation. Prior to the disruption last week, it was generating approximately 250,000 to 260,000 barrels per day.

17 Jul 2023, 12:56:30 PM IST

Stock market updates: HDFC Bank’s net profit jumps 30% to ₹11,951.7 crore in Apr-Jun

17 Jul 2023, 12:39:55 PM IST

Stock market updates: For Avenue Supermarts, it's another quarter, another disappointment

Avenue Supermarts Ltd has been serving investors pretty much the same story every quarter, for some time now. The DMart supermarket retail chain operator's June quarter (Q1FY24) results were far from inspiring. Unsurprisingly, analysts have now pared future earnings estimates. For instance, Kotak Institutional Equities has revised down FY2024-26 revenue estimates by 1-4% resulting in earnings per share cut of 2-6%. (Read more)

17 Jul 2023, 12:24:20 PM IST

Stock market updates: Sensex up 200 points at 66,271 in mid market session; IT shares lead charge

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17 Jul 2023, 12:06:17 PM IST

Stock market updates: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher 

STOCK ON RADAR: IEX has witnessed a decent correction recently and has taken support near 120 levels which is an important base. The RSI also has indicated a trend reversal from near the oversold zone to signal a buy and is well placed for an upward move. We suggest to buy and accumulate this stock for an upside target of 150 keeping the stop loss of 116.

17 Jul 2023, 11:51:05 AM IST

Stock market updates: Route Mobile slips 3% after it said promoters are selling 57.56% stake for ₹5,922 crore

17 Jul 2023, 11:34:50 AM IST

Market Live updates: India's steel imports surge in June; China and Vietnam dominate share

In June 2023, India's steel imports reached 4.84 lakh tonne, demonstrating a 5.9% growth from the previous month and a 7.6% surge compared to June 2022, according to the Ministry of Steel. The contribution of countries like China and Vietnam to India's steel import portfolio has risen year-on-year (y-o-y) in June 2023. India's export of finished steel declined by 27.6% compared to May 2023 and 21.3% compared to June 2022.

17 Jul 2023, 11:19:10 AM IST

Stock market updates: Bandhan Band dips 3% after an 18.7% decrease in its net profit to ₹721 crore in the first quarter of the present fiscal year.

17 Jul 2023, 11:07:16 AM IST

Stock market updates: India's Top Green Hydrogen Stocks and How They're Faring in 2023

The Indian government announced the National Green Hydrogen Mission in 2022. Several companies have already stated investing in green hydrogen plants to take the first mover advantage.

Companies like NTPC, GAIL, and Indian Oil Corporation have announced several projects in this space.

Equitymaster takes a look at all green hydrogen stocks in India and how they’re faring in 2023 so far. This mid-year review will potentially help you select which Indian green hydrogen company is leading the race and whether any new company has entered the fray. (Full article)

17 Jul 2023, 10:54:27 AM IST

Stock market updates: Angel One plunges over 7% after NSE bars it from onboarding new authorised persons

17 Jul 2023, 10:39:07 AM IST

Stock market updates: Nifty IT index extends gains for third session in a row, up 1.8%; Wipro, Mphasis, LTI Mindtree lead the charts with 3-4% gains

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17 Jul 2023, 10:24:11 AM IST

Stock market updates: Amnish Aggarwal - Head of Research, Prabhudas Lilladher on Avenue Supermarts

Rating: BUY | CMP: Rs3,840 | TP: 4,587

Q1FY24 Result Update - Apparel segment drags, EPS cut by 1.5-3%

“We factor in 13% growth in Bills cuts but 6% decline in average bill value (6% higher than 2H levels). We now build in 40/33bps decline in GM/EBIDTA margin in FY24 before it starts recovering in FY25. We now estimate 15.3% PBT growth in FY24 and 22.2% over FY23-25. We believe D’Mart has a huge runway to grow with 1500+ store potential and scale up in D’Mart Ready. We expect growth pressures to sustain in 2Q also before recovery in 2H24. D’Mart lacks near triggers, although the stock remains a long term Buy."

17 Jul 2023, 10:12:09 AM IST

Stock market updates: Karur Vysya Bank jumps over 4% after RBI approves reappointment of B Ramesh Babu as MD, CEO

17 Jul 2023, 09:58:16 AM IST

Market Live updates: Indian Rupee was trading 6 paise higher against the US dollar at 82.11. The dollar index was little changed 

17 Jul 2023, 09:47:25 AM IST

Stock market updates: Nifty Bank slips 0.2%; Bandhan Bank down 1.4%; Federal Bank tops charts

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17 Jul 2023, 09:37:00 AM IST

Stock market updates: Nifty was 0.13% higher at 19,589. AMong the 50 stocks, 43 advanced and 6 declined and one was flat

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17 Jul 2023, 09:27:27 AM IST

Stock market updates: Sensex above 66K mark with Wipro, Power Grid topping the charts

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17 Jul 2023, 09:12:00 AM IST

Stock market today: Nifty50 outlook, Bank Nifty outlook: Reliance Securities

Outlook for Nifty: Nifty 50 will hold the support level of 19,300 and close at all-time high to gain 1.2% w-ow.

The double bottom supports 19,350 on hourly chart giving an extended target of 19750-19800 over the next few days

The 8-day avg placed at 18425 will act as strong support which is holding since the start of the rally

RSI is above the avg line from and piercing upward after trending ina range over the past few days

Bank Nifty outlook: Bank Nifty ends in the long-legged doji candle near the short term average after underperforming over the past eight days

RSI is breaching the upper trend line and the failure of breakdowm suggests an upmove from current levels

On the higher side crossover of 45,100 will give a strong breakout from its multiple tops over the past few days

Highest call OI is at 45,000 strike while on the downside the highest put OUI at 44,500 for the weekly expiry.

17 Jul 2023, 09:05:47 AM IST

Stock market today: Sensex flat with negative bias at pre-open; Reliance, HDFC in focus

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17 Jul 2023, 08:55:59 AM IST

Stock market today: RBL Bank included in NSE's F&O trading ban list

RBL Bank has been included in NSE's futures & options (F&O) trading ban list for Monday. Delta Corp, Hindustan Copper, Indiabulls Housing Finance, Manappuram Finance, and Punjab National Bank have been retained on the list. The F&O ban encompasses securities where derivative contracts have surpassed 95% of the market-wide position limit.

17 Jul 2023, 08:46:28 AM IST

Stock market today: Market experts have recommended six stocks to buy today — Biocon, Vedanta, Tata Steel, Wipro, Axis Bank, and Dabur

Outlook for Nifty: Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "Having moved above the crucial resistance of 19,500 (1.236% Fibonacci projection of weekly taken from recent bottom-top bottom). As, per this pattern, the next upside target to be watched around 1.382% Fibonacci projection at 19,800 levels, which is expected to be a next upside target for the Nifty for coming week. Immediate support is at 19,470 levels."

Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities said, "Bank Nifty took support from the 20-Day Exponential Moving Average (DEMA), which is placed at 44,554. A close below 44,500 can trigger a fresh selling in Bank Nifty until 43,500, where its next visible support is placed. A decisive close above 45,000 can ignite buying interest in Bank Nifty."

17 Jul 2023, 08:22:10 AM IST

Stock Market Live: Sovereign gold bond sales hit record ₹4,600 crore in June

Amid last month’s stock market breakout, Indians purchased the largest quantity of sovereign gold bonds (SGBs) at 7.77 tonnes worth a whopping 4,604 crore in the first series of this fiscal year, underscoring the preference for an asset that acts as a hedge against inflation and a safe-haven asset at times of global uncertainty. (Full story)

17 Jul 2023, 08:06:48 AM IST

Stock Market Live: Jio Fin demerger, Q1 earnings to keep RIL stock in focus this week

Reliance Industries saw its stock surge to a 52-week high of 2,802 last week aided by the announcement of the record date for demerger of its financial services business, and analysts expect the conglomerate to remain in focus ahead of its June quarter results. (Read more)

17 Jul 2023, 07:55:11 AM IST

Share Market Live: HDFC Bank, JSW Energy, Bandhan Bank, Lupin, Suzlon are some of the stocks in news today

HDFC Bank, LTIMindtree, Tata Elxsi, CRISIL, Central Bank of India, The Tinplate Co. of India, Choice International, Hathway Cable and Datacom, and Huhtamaki India are among companies that will announce their results on Monday

17 Jul 2023, 07:44:55 AM IST

Stock Market Live: Asian stocks decline amid concerns US Fedhas not managed to control inflation yet

Asian stocks saw a decline on Monday as the rally in US bonds and stocks faltered on Friday, amid concerns that the Federal Reserve has not yet managed to control inflation.

Shares in South Korea and Australia fell from the start, while equity futures in Hong Kong also saw a decline following a more than 2% dip in an index of US-listed Chinese stocks on Friday. Trading in Japan's markets was halted due to a holiday, and trading in Hong Kong is expected to be delayed due to a storm.

As trading began in Asia, contracts for the S&P 500 and Nasdaq 100 also saw a slight dip. The main indexes recorded minor losses on Friday as traders pointed to consolidation following a surge that still resulted in the S&P 500's best week since mid-June.

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