Sensex Today | Stock Market LIVE Updates: Sensex rises over 300 points, Nifty above 24,850 in pre-open session

19 Jul 2024 | 11:48:56 AM IST

Sensex Today | Stock Market LIVE Updates | Indian stocks retreated from their record highs reached at the opening on Friday, as profit-taking across various sectors overshadowed gains made by Infosys following its surpassing of quarterly earnings expectations and upward revision of its annual revenue forecast.

Earnings Watch

Shares of Reliance Industries, Wipro, Paytm and JSW Steel in focus as the companies will announce their first quarter results today.

Market View by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Infosys’ Q1 numbers on all parameters have beaten market expectations. More importantly, Infy CEO’s remark that “there are early signs of improvement in the financial services segment” is reassuring and has to be seen along with TCS’ statement that “FY25 will be better than FY24.” This calls for a marginal rerating of the IT space and this has the potential to move the Nifty today.

A distinct trend in the market now is the underperformance of the overvalued broader market and the outperformance of the fairly valued largecap space. This augurs well for the continuation of the rally without the market getting overheated.

Show more Show less

Stock Market LIVE Updates | Stock Watch: Tata Tele soars 40% in 5 sessions

Price as on 11.43.23 AM, Click on company names for their live prices.

Stock Market LIVE Updates | BNP Paribas initiates coverage on AIA Engineering

Price as on 11.42.46 AM, Click on company names for their live prices.

Sensex Today | Paytm Concall Highlights

Expect net device merchant additions to reach previous run rates by Q3 FY2025.
Subscription revenue per device bottomed out in Q1, seen increasing on new merchant signups.
Payment processing margin (including UPI incentive) will be in range of 5-6 bps for year.
Expect growth in MTU once we start onboarding new UPI users.
Expect contribution margins to remain in 50-55% range.
Expect indirect expenses to come down significantly in subsequent quarters.
potential transfer of Paytm’s entertainment business, a component of our marketing services, is under consideration.

Sensex Today | Paytm Concall Highlights

Rev and profitability expected to improve going forward.
Expect GMV growth to continue.
As we add new secured loan offerings, the total take rate percentage is expected to decrease.

Sensex Today | Stock Market LIVE Updates | Oil and gas stocks trading with cuts

Sensex Today | Stock Market LIVE Updates | Metal stocks under pressure

Price as on 11.27.23 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Financial Highlights

Operating revenue of ₹1,502 Cr.
Contribution profit of ₹755 Cr (margin of 50%).
EBITDA before ESOP of ₹(545) Cr.
EBITDA of ₹(792) Cr.
Continued focus on cost reduction, employee cost has declined by 9% QoQ.
Going forward, we expect revenue and profitability to improve, driven by growth in operating parameters such as GMV, an expanding merchant base, recovery in loan distribution business and continued focus on cost optimization.
Strong balance sheet with ₹8,108 Cr of cash on books; we also hold stock.
acquisition rights in PayPay Corporation (5.4% stake, once exercised).

Sensex Today | Paytm Q1 Earnings Highlights

Payments Services:

-Revenue from Payment services was ₹900 Cr.

-Net payment margin was ₹383 Cr, GMV of ₹4.3 Lakh Cr.

-Merchant subscriber base for devices has reached 1.09 Cr as of June 2024.

Financial Services: Revenue from financial services was ₹280 Cr

Marketing Services: Revenue from marketing services was ₹321 Cr

Sensex Today | Q1 Result: Paytm

Cons revenue at Rs 1,502 crore vs Rs 2,342 crore, down 36% YoY.

Sensex Today | Q1 Result: Paytm

Cons net loss at Rs 839 crore vs loss of Rs 357 crore YoY.

India bond yields a tad higher before debt supply

Indian government bond yields were marginally higher on Friday, ahead of a weekly debt auction later in the day and the announcement of the federal budget next week.

The benchmark 10-year yield was at 6.9738% as of 10:00 a.m. IST, following its previous close of 6.9674%.

Sensex Today | F&O stocks to buy

Cholamandalam Investment: Buy| Target Rs 1495| Stop Loss Rs 1430
HCL Technologies: Buy| Target Rs 1635| Stop Loss Rs 1565
Laurus Labs: Buy| Target Rs 470| Stop Loss Rs 450
Tata Consumer: Buy| Target Rs 1225| Stop Loss Rs 1170

Positive Breakout: These 6 stocks close cross above their 200 DMA

According to technical scan data from stockedge.com, on July 18, six stocks listed on the NSE with market capitalizations exceeding Rs 1000 crore closed above their 200 DMA.

Sensex Today | Hot stocks: Bernstein on Infosys

Bernstein has reaffirmed an outperform rating on the stock and increased the target price to Rs 2,100 from Rs 1,650.

Price as on 10.16.35 AM, Click on company names for their live prices.

Sensex Today | Hot stocks: Citi on Infosys

Citi has reiterated a neutral rating on Infosys and raised the target price to Rs 1,850 from Rs 1,550.

Price as on 10.15.31 AM, Click on company names for their live prices.

Stock Market LIVE Updates | Bumper debut! Sahaj Solar shares list at 90% premium over issue price

Sahaj Solar’s shares debuted on the NSE SME platform on Friday with a 90% premium, opening at Rs 342 compared to the issue price of Rs 180.

Prior to listing, the company’s shares were trading with a premium of approximately 140% over the issue price.

Sensex Today | Stock Market LIVE Updates | Sensex down over 200 points

Sensex Today | Stock Market LIVE Updates | Infosys shares rise against market mood, gain over 2%

Infosys shares rose in early trade after its US-listed shares jumped 8.38% overnight. India’s second-largest IT services firm on Thursday raised its fiscal year 2025 revenue growth outlook to 3%-4% from 1%-3%, helped by demand recovery.

Forex News | Rupee falls in early trade.

Rupee falls 1 paisa to 83.64 against US dollar

Sensex Today | Heatmap: Top Sensex gainers & losers in today’s trade

Sensex Today | Stock Market LIVE Updates | 6 of 10 IT stocks in green

Stock Market LIVE Updates | Ahead of Results

Price as on 09.25.26 AM, Click on company names for their live prices.

Stock Market LIVE Updates | Earnings Impact

Price as on 09.24.43 AM, Click on company names for their live prices.

Opening Bell: Sensex, Nifty turn negative after starting at record highs; Infosys surges 4%, Apollo Tyres declines 8%

Sensex Today | At multi-year highs: These 7 stocks witness 5-year swing high breakout

Based on stockedge.com’s technical scan data, within the Nifty200 pack, seven stocks reached a 5-year high at the July 18 close, signaling bullish sentiment.
A 5-year high typically marks a historical resistance level, suggesting potential for continued upward momentum in these stocks.

Stock Market LIVE Updates: Sanstar’s business appeal offset by aggressive pricing

Sanstar, headquartered in Ahmedabad, ranks as the fifth-largest producer of maize-based specialty products and ingredient solutions. The company is launching an IPO worth ₹510 crore, which includes a fresh issue of ₹397 crore and an offer for sale of ₹113 crore

Stock Market LIVE Updates: Sensex rises over 300 points, Nifty above 24,850 in pre-open session

Stock Market LIVE Updates: HDFC Bank to grow deposits aggressively, slowdown loan growth

HDFC Bank, India’s largest private sector lender, announced on Thursday that in the future, its loan growth will be slower compared to its deposit growth, as it adapts to its merger with parent HDFC Limited.

Sensex Today | Stock Market LIVE Updates: SpiceJet to consider raising fresh capital via QIP on July 23

Stock Market LIVE Updates: Hot market prompts InCred to shut multi-cap AIF, return money

InCred Asset Management has opted to close its equity product, India Value Growth Fund I, and initiate the return of funds to investors. This decision comes two months ahead of the fund’s scheduled maturity, driven by concerns over the increasingly overheated equity market

Stock Market LIVE Updates | Stocks in news: RIL, Wipro, Paytm, Infosys, Tata Technologies

The domestic markets saw vigorous trading activity, as the Nifty50 index surged to a new milestone of 24,800. Today, attention will be on stocks like RIL, Wipro, Paytm, Infosys, and Tata Technologies, primarily due to their first-quarter results and other significant news updates

Stock Market LIVE Updates | Franklin India launches NFO: New players can get wide exposure via multicap MFs

Equity investors seeking diversification across large, mid, and small-cap stocks may find the new fund offer (NFO) of Franklin India Multicap Fund appealing. However, investors who already hold mid- and small-cap schemes in their portfolios may choose to forgo this opportunity.

Stock Market LIVE Updates: Bank of India raises Rs 5,000 crore via infra bonds

Bank of India has successfully raised ₹5,000 crore by issuing infrastructure bonds, with the state-owned bank receiving bids significantly surpassing the notified amount for the debt sale

Stock Market LIVE Updates: GIFT Nifty signals a muted start for D-Street. Here’s the trading setup for today’s session

Despite initial worries stemming from subdued global signals, the market showed strength and optimism on Thursday as key indices reached new highs

Stock Market LIVE Updates | Stocks in news: RIL, Wipro, Paytm, Infosys, Tata Technologies

Domestic markets experienced a robust trading day, with the Nifty50 index reaching a new milestone of 24,800. In today’s trade, shares of RIL, Wipro, Paytm, Infosys, Tata Technologies among others will be in focus due to first-quarter results and various news developments.

Stock Market LIVE Updates | D-Street Recap

Indian benchmark equity indices recovered from a weak start to end at record closing highs on Thursday, led by IT stocks as LTIMindtree’s better-than-expected results added to expectations of a turnaround in the sector’s fortunes.

The NSE Nifty 50 gained 0.76% to close at 24,801, while the S&P BSE Sensex rose 0.78% to settle at 81,343.

Stock Market LIVE Updates | Oil drops on weak sentiment, set for weekly decline

On Friday, oil prices decreased, marking a potential second consecutive weekly decline, influenced by conflicting economic indicators that dampened investor confidence and strengthened the dollar.

Brent crude prices dropped 51 cents to $84.50 per barrel by 0035 GMT, a decline of 0.6%. Similarly, U.S. West Texas Intermediate crude futures fell 72 cents to $82.10 per barrel, down 0.9%.

Stock Market LIVE Updates | Wall Street Watch

On Thursday, U.S. stocks experienced a significant decline, reversing earlier gains as investors shifted focus away from expensive large-cap growth stocks amidst the ongoing second-quarter earnings season.

All three major U.S. stock indexes recorded losses, with the Dow Jones Industrial Average experiencing the largest drop, putting an end to its streak of consecutive record closing highs.