Share Market Highlights- Nifty settles below 19750, Sensex tanks 880 pts; Bank Nifty below 46100, Infosys, IT stocks fall

Share Market Highlights: Nifty settles below 19750, Sensex tanks 880 pts; Bank Nifty below 46100, Infosys, IT stocks fall

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Friday’s session deep in red. The NSE Nifty 50 plunged 234.15 points or 1.17% to 19,745 and BSE Sensex tumbled 887.64 points or 1.31% to 66,684.26. In sectoral indices, Bank Nifty sank 111.70 points or 0.24% to 46,075.20, Nifty IT tanks 1,274.85 points or 4.09% to 29,871.05, Nifty FMCG tumbled 1% while Nifty PSU Bank rose 0.25%. The top gainers on Nifty 50 Larsen & Toubro, ONGC, NTPC, State Bank of India (SBI) and Tata Motors while the losers were Infosys, Hindustan Unilever Ltd (HUL), HCL Tech, Wipro and TCS.Live Updates

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights

16:11 (IST) 21 Jul 2023 Where is share market headed after Nifty closes below 19750, Bank Nifty below 46080

Benchmark indices NSE Nifty 50 and BSE Sensex ended Friday’s session deep in red. “The weak guidance from Infosys cast a shadow over the outlook of the Indian IT sector, causing a delay in Nifty’s pursuit of the 20,000 mark. While the heavyweights surrendered to the bears, the small caps demonstrated resilience. Global markets presented a mixed picture, with the US market struggling due to weak earnings, while UK retail sales exceeded expectations with a 0.7% MoM growth,” said Vinod Nair, Head of Research at Geojit Financial Services.

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15:35 (IST) 21 Jul 2023 Nifty, Sensex end in red

The NSE Nifty 50 sank 234.15 points or 1.17% to 19,745 and BSE Sensex tanked 887.64 points or 1.31% to 66,684.26.

15:04 (IST) 21 Jul 2023 Volume Gainers

Capital Trust, Oriental Aromatics, Mukta Arts, Pilani Investment and Industries Corporation, Indo Borax & Chemicals, Shah Alloys, HT Media, Shah Metacorp, Quick Heal Technologies, Indiamart Intermesh, Prudent Corporate Advisory Services, Autoline Industries, Heubach Colorants India, Plastiblends India, Cupid Limited, Talbros Automotive Components, Indian Railway Finance Corporation, and General Insurance Corporation of India were among the volume gainers.

15:03 (IST) 21 Jul 2023 Stocks at 52-Week Lows

Atam Valves, Atul, Bohra Industries, GSS Infotech, Jet Airways (India), Power & Instrumentation (Gujarat), Sadhana Nitrochem, SEL Manufacturing Company, Senco Gold, and Utkarsh Small Finance Bank were among 18 stocks that hit 52-week lows. 

15:03 (IST) 21 Jul 2023 Stocks at 52-Week Highs

Allied Digital Services, AGI Greenpac, Albert David, APL Apollo Tubes, Ashok Leyland, Aurobindo Pharma, Bajaj Consumer Care, Bharat Heavy Electricals, CARE Ratings, Chalet Hotels, CSL Finance, LT Foods, D.B.Corp, DIC India, D-Link (India), Dodla Dairy, Dynamic Cables, E2E Networks, EIH, Electronics Mart India, Equitas Small Finance Bank, Finolex Cables, Gabriel India, Geekay Wires, Glenmark Pharmaceuticals, Glenmark Life Sciences, Godawari Power And Ispat, Heritage Foods, HT Media, Ice Make Refrigeration, ICICI Lombard General Insurance Company, IIFL Finance, Indiamart Intermesh, Ircon International, ITC, Jagran Prakashan, Jai Balaji Industries, Jindal Saw, Jindal Stainless, JSW Ispat Special Products, JSW Steel, Jupiter Wagons, KEC International, Kewal Kiran Clothing, Linde India, Larsen & Toubro, Lupin, Max India, Mazagon Dock Shipbuilders, United Spirits, Medplus Health Services, Samvardhana Motherson International, Natco Pharma, Neuland Laboratories, Newgen Software Technologies, Tata Nifty Private Bank Exchange Traded Fund, One Point One Solutions, Parag Milk Foods, Peninsula Land, Pitti Engineering, Poonawalla Fincorp, Premier Explosives, Pricol, Prudent Corporate Advisory Services, Railtel Corporation Of India, Rainbow Childrens Medicare, Rane Engine Valve, RITES, Ramkrishna Forgings, Shriram Finance, Suryoday Small Finance Bank, Sterling and Wilson Renewable Energy, Talbros Automotive Components, Tanla Platforms, Tata Motors, TD Power Systems, Texmaco Infrastructure & Holdings, Texmaco Rail & Engineering, Thomas Scott (India), Ujjivan Small Finance Bank, Universal Cables, Usha Martin, Utkarsh Small Finance Bank, Vesuvius India, Wendt (India), WE WIN, Zensar Technologies, and Zota Health Care were among 108 stocks that hit 52-week highs today.

15:03 (IST) 21 Jul 2023 Infosys, RIL, SBI among most active stocks

Infosys, Reliance Industries, HDFC Bank, Utkarsh Small Finance Bank, Polycab India, State Bank of India, Rail Vikas Nigam, Tata Consultancy Services, ICICI Bank, Larsen & Toubro, Hindustan Unilever, Ashok Leyland, United Spirits, and Indiamart Intermesh were the most active stocks on NSE.

15:02 (IST) 21 Jul 2023 Nifty IT, Bank Nifty tank

In sectoral indices, Nifty Bank fell 0.44%, Nifty IT tanked 3.74%, Nifty Private Bank fell 0.53%.

15:01 (IST) 21 Jul 2023 Broader market indices trade in red

Among the broader market indices – Nifty Next 50 slipped 0.09%, Nifty 100 fell 1.02 %, the Nifty 200 slipped 0.93%, Nifty Midcap 50 fell 0.19%.

14:11 (IST) 21 Jul 2023 Hindustan Unilever shares sink 3.7% on muted Q1 earnings; should you buy, sell or hold HUL? Brokerages mixed

Shares of Hindustan Unilever sank 3.7% in trade on Friday as the street factored in the FMCG giant’s Q1FY24 earnings; the stock price touched an intraday low of Rs 2,603.5 apiece. HUL reported revenue growth of 7% on-year (3% volume growth) to Rs 14,931 crore. The company’s gross and EBITDA margins improved on an on-year basis, however, EBITDA margin expansion was moderated owing to higher ad spends and other expenses. Adj. PAT clocked in at Rs 2,500 crore, up 9% from the corresponding quarter in the previous financial year.

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13:29 (IST) 21 Jul 2023 RULOANS launches RUCONNECT app for channel partners

RULOANS Distribution Services has rolled out the RUCONNECT app for its channel partners in the domain of Loan Sourcing. Till June, RULOANS has disbursed loans worth approximately Rs 200 crore with an average ticket size of Rs 2 lakh.

13:17 (IST) 21 Jul 2023 What’s dragging Nifty, Sensex down 1% today: Infosys, IT stocks fall

NSE Nifty 50 and BSE Sensex tanked over 1% today dragged by Infosys and other IT stocks and weak global market sentiment. The Nifty 50 sank 1.08% or 216 points to 19,979.15 and BSE Sensex plunged 1.2% or 816 points to 66,755.66. Nifty IT tumbled 4.6% or 1,444 points to 29,701.20. Infosys was the biggest loser on both Nifty 50 and 30-share Sensex, falling 10% after disappointing Q1 results and reduced guidance. The 2% fall in the tech-heavy Nasdaq index overnight after Netflix and Tesla results missed market estimates also dragged the domestic IT index down. The top losers on Nifty 50 were Infosys, Reliance Industries Ltd (RIL), Hindustan Unilever Ltd (HUL), HCL Tech and Wipro while the gainers were Larsen & Toubro, JSW Steel, SBIN, Adani Enterprises and Divis Laboratories.

What Next for Nifty, Sensex

10:03 (IST) 21 Jul 2023 Nifty, Sensex fall over half a percent

The NSE Nifty 50 tumbled 118.60 points or 0.59% to 19,860.55 and BSE Sensex plunged 466.21 points or 0.69% to 67,105.69.

10:00 (IST) 21 Jul 2023 Infosys stock tanks 9% today after IT major cuts FY24 revenue guidance

Infosys share price tanked 9% to Rs 1311.60 today after the Indian IT major revised its FY24 CC revenue growth guidance downward to 1-3.5% compared to 4-7% earlier. The company’s Q1 results missed market estimates on multiple fronts. Infosys’ net profit grew 10.9% on-year to Rs 5,945 crore for the June quarter compared with Rs 5,360 crore in the same quarter last year. Analysts were largely expecting a 14-18% growth. Infosys stock has gained 3% in the last one month and has fallen nearly 12% in the past one year.

Should you buy, sell, hold INFY stock?

09:12 (IST) 21 Jul 2023 Nifty, Sensex fall 1% in pre-open

Domestic indices ended the pre-opening session in the red. The NSE Nifty 50 sank 178.70 points or 0.89% to 19,800.45 and BSE Sensex tanked 664.83 points or 0.98% to 66,907.07.

08:26 (IST) 21 Jul 2023 Bank Nifty to target levels of 46500

“Bank Nifty witnessed a breakout from the inside bar pattern on the upside and also witnessed follow-through buying interest. The daily and the hourly momentum indicator also have a positive crossover. Thus, both price and momentum indicators are suggesting a continuation of the up move and expect the Bank Nifty to target levels of 46500,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

Share Market Outlook Today

08:26 (IST) 21 Jul 2023 Bank Nifty resistance at 46400-46500

“The support level for the Bank Nifty is at 45500, and as long as this level remains intact on a closing basis, the overall trend remains bullish. A break below this support level could signal a potential shift in momentum and may warrant caution for bulls. On the upside, the next immediate hurdle is placed at the 46400-46500 zone,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.

Share Market Outlook Today

08:26 (IST) 21 Jul 2023 Investors might book profit if Nifty fails to surpass 20000

“Nifty’s value remains above the critical moving average, indicating a positive trend. Furthermore, the RSI shows a bullish crossover, suggesting potential market strength. In the short term, the index is expected to stay positive. However, if it fails to surpass the 20,000 level, investors might engage in profit-taking. There is a support level at 19,800, which could attract buying interest during potential pullbacks,” said Rupak De, Senior Technical analyst at LKP Securities.

Share Market Outlook Today

08:25 (IST) 21 Jul 2023 Nifty resistance at 20150–20200

“We expect Nifty to target levels of 20200 from a short-term perspective. Both price and momentum indicators are suggesting a continuation of the current up move. In terms of levels, 19880 – 19850 shall act as a crucial support zone as per the principle of role reversal, and on the upside, 20150 – 20200 shall act as an immediate hurdle zone and our short-term target zone,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

Share Market Outlook Today

08:25 (IST) 21 Jul 2023 Nifty could retest 19750-19700 if it falls below 19850

“On daily charts, the Nifty 50 has formed a bullish candle and on intraday charts, it is holding a higher bottom formation, which is largely positive. However, the short-term texture of the market is overbought, hence we could see some profit booking at higher levels. For the trend-following traders, 19850 would be the key level to watch out for and above the same, the market could move up till 20100-20150. On the flip side, below 19850 traders may prefer to exit from long positions, as any further correction could see the index retest the level of 19750-19700,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.

Share Market Outlook Today

07:53 (IST) 21 Jul 2023 Nifty to cross 20000 or bears to take over? See GIFT Nifty, FII data, F&O ban, crude, more before market opens

“Unlocking of value by heavy weights (like RIL & ITC) is apprising the main indices. The anticipation of a good Q1 results from Banks, is providing an extra boost to drive to new highs. Mixed cues from global peers is not disturbing the mood of the domestic market as FIIs inflows stay put to the prospects of the Indian economy” said Vinod Nair, Head of Research at Geojit Financial Services.

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07:52 (IST) 21 Jul 2023 Stocks To Watch: Infosys, HUL, IndusInd Bank, Jindal Stainless, Persistent Systems, L&T, TCS

The GIFT Nifty recorded a 0.05% gain during Friday’s early trading session, with a value of 19,869 indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. Benchmark indices NSE Nifty 50 and BSE Sensex made new all-time highs again and ended Thursday’s trading session broadly in green. The Nifty 50 rose 146 points to close at 19,979.15, a whisker away from 20,000. Sensex jumped around 500 points to 67,571.90, a new all-time closing high.

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