Stock Market Live Updates 8 July, 2024: Global Trends, IT majors’ earnings to guide market sentiment this week

tock Market Today | Share Market Live Updates – Find here all the live updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for July 8, 2024.

• July 08, 2024 07:43
  

  Stock Market Updates: Will cap on SME listing gains check exuberance?

  To moderate the overwhelming euphoria in the SME market, both the regulator and exchanges have decided to implement concrete measures. With most companies’ stocks delivering over 200 per cent returns on listing day, the National Stock Exchange announced on Thursday a cap on maximum listing gains at 90 per cent over the IPO price.

  “To standardise the opening price discovery/equilibrium price across exchanges during special pre-open session for initial public offer (IPO) for the SME platform, it has been decided to put an overall cap of up to 90 per cent over the issue price for SME IPOs,” NSE said in a statement.

• July 08, 2024 07:42
  

  Stock Market Updates: Indian equities attract nearly $1 billion FPI Inflows in early July 2024

  Ahead of Modi 3.0 Government’s full budget on July 23, Foreign Portfolio Investors (FPI) continued to show strong buying interest in Indian equities with net inflows of ₹7,962 crore (near $1 billion) in the first week of July 2024, data with depositories showed. 

  This was in addition to June 2024 inflows, when FPIs—after remaining net sellers in April and May— had made net investments of ₹26,565 crore in the Indian equities market. 

• July 08, 2024 07:39
  

  Stock Market Live Today: Sensex, Nifty likely to open flat despite record highs

  Domestic markets are expected to open flat on Monday despite ruling at peak levels. According to analysts, though valuation is a concern for domestic markets, participants, especially institutions, are still in hold mode. According to them, the upcoming Budget and Q1 results of India Inc. will anchor market movement.

  Gift Nifty at 24,390 signals 24,379, indicating a flattish opening for Nifty. Ajit Mishra – SVP of Research, Religare Broking, said: “Looking forward, market direction largely will be influenced by upcoming earnings reports and discussions on the Union Budget. Global market trends, particularly the robust performance of US markets, will also be closely watched.”

• July 08, 2024 07:31
  

  Stock Market Live Today: Nifty and Bank Nifty Prediction for the week 08 Jul’24 to 12 Jul’24 by BL GURU

  #Nifty continues to move up. There is room for the #Nifty50 to go up further from here. However, as we said last week, crucial resistance is also coming up which can halt the current rally in the #nifty50index. We expect a corrective fall in the #Nifty after some more rise from here.

• July 08, 2024 07:30
  

  Stock Market updates: Stocks that will see action today: July 8, 2024

  Buzzing stocks: LIC, JM Financial, Infosys, Apollo Hospitals, Bandhan Bank, GMR Power, Coffee Day, PNB, HG Infra, Zaggle, Delhivery, Union Bank, BoB, UGRO Capital, Indsil Hydro, Welspun Corp, Quick Heal, Signature Global, HEG, Genesys Intel, Fermenta Bio, EFC

• July 08, 2024 07:23
  

  Stock Market Live Today: Tech Query: What is the outlook for Rail Vikas Nigam Ltd (RVNL), Union Bank of India, Jain Irrigation Systems?

  We zoom in on the prospects of Rail Vikas Nigam Ltd (RVNL), as also the prospects of two other stocks — Union Bank of India, Jain Irrigation Systems 

• July 08, 2024 07:22
  

  Stock Market Live Today: Movers & Shakers: Stocks that will see action this week

  Here is what the charts say about the shares of GMR Airports Infrastructure, Sun Pharmaceuticals and Tata Consumer Products 

• July 08, 2024 07:16
  

  Stock Market live today: Stock to buy today: HFCL (₹130.05): BUY

  The short-term outlook is bullish for HFCL. The stock surged about 15 per cent last week and closed on a strong note. The price action since the end of May this year indicates a bull channel. Strong support is in the ₹120-118 region.

• July 08, 2024 07:15
  

  Stock market live today: Today’s Stock Recommendation: July 8, 2024

  Here’s an interesting stock idea: The stock idea that we have for you today is HFCL. The stock has surged about 15 per cent last week. The share price has been moving inside a bull channel and there is room for the stock to move up further within the channel.

• July 08, 2024 07:13
  

  Stock market live updates: Securities in F&O Ban For Trade Date 08-July-2024  

  * ABFRL

  * BANDHANBANK

  * GNFC

  * HINDCOPPER

  * INDIACEM

  * PEL

• July 08, 2024 07:12
  

  Stock market live updates: PCBL Ltd: Co secures Indian patent for hybrid carbon black grade with graphene, enhancing fuel efficiency, tire durability, and load capacity.

• July 08, 2024 07:11
  

  Stock Market live updates: Q1FY25 EARNING CALENDAR 08.07.2024

  SHALBY

  Q1FY25 EARNING CALENDAR 09.07.2024

  DELTACORP, GMBREW

• July 08, 2024 07:11
  

  Stock Market updates: Short Take: Mphasis F&O contracts adjustment

  Mphasis (₹2,628.9) announced an interim dividend of ₹55 per equity share of face value ₹10 for the financial year 2023-24. This will also lead to necessary adjustments in the futures and options (F&O) contracts on this stock on the record date.

  The company has decided July 10, 2024, as the record/effective date. On this day, the stock price and all derivatives contracts on Mphasis will be adjusted appropriately.

• July 08, 2024 07:10
  

  Commodities market updates: Bullion Cues: Glimpses of a rally

  Precious metals had a glittering week. Gold appreciated 2.8 per cent, whereas silver rose 7.1 per cent to end the week at $2,392 and $31.2 per ounce respectively.

  The positive trend was seen in the domestic market too. MCX gold futures (₹73,051 per 10 gram) rallied 2.1 per cent, whereas MCX silver futures (₹93,554 per kg) gained 4.5 per cent.

• July 08, 2024 07:09
  

  Commodities Market Updates: Crude Check: Bulls hold the reins

  Crude oil retains the upward bias in trend. Nevertheless, the Brent crude oil futures on the Intercontinental Exchange (ICE) ended last week almost flat at $86.5 per barrel. But the crude oil futures on the MCX was up 2.5 per cent as it closed the week at ₹6,977 a barrel.

• July 08, 2024 07:08
  

  Stock market live today: F&O Query: Should you buy or sell stock derivatives?

  Traders can buy TCS call options; stay out of Coforge futures

• July 08, 2024 07:06
  

  Stock Market Live Today: F&O Tracker: Upward trajectory remains steady

  Nifty 50 (24,324) and Bank Nifty (52,660) stretched the upswing last week and posted a gain of 1.3 per cent and 0.6 per cent respectively. The uptrend remains valid for both indices and the derivatives data point to further rally from here. Here’s an analysis.

  Nifty futures (July) appreciated 1 per cent over the past week and closed at 24,379. This happened due to long build-up, which is indicated by the increase in the cumulative Open Interest (OI) of Nifty futures. It went up to 157.7 lakh contracts on July 5 against 155.9 lakh contracts on June 28.

• July 08, 2024 07:05
  

  Stock Market Live Today: F&O Strategy: Long straddle on Fin Nifty

  The long-term outlook for Nifty Financial Services (Fin Nifty) (23,641.75) will be positive as long as it stays above 18,890. If the index manages to hold on to current rally, it can register a new peak around 28,500.

  Fin Nifty finds an immediate support at 22,837 and the major one at 20,867. However, a close below 18,890 could weaken the index to 15,050. We expect the index to witness higher volatility in the short term.

• July 08, 2024 07:03
  

  Stock Market Live Today: Ganesh Housing Corporation: What should investors do

  The real estate segment has taken off sharply in the post-Covid period, and especially over the past couple of years. The return-to-office mandates of companies looking at hybrid working styles and the demand for larger living spaces have seen commercial and residential realty thriving.

  While housing and office space demand are robust in metros, there is considerable action even in other larger cities. Gujarat, as a State with strong infrastructure presence in cities such as Ahmedabad and Gandhinagar, has seen a strong uptick in realty demand in recent years.

• July 08, 2024 07:02
  

  Currency Market Updates: Currency Outlook: Dollar index under pressure

  The dollar index remained under pressure all through last week. The index failed to breach 106 decisively and fell sharply. This fall in the index was much in line with our expectation. On Friday, the jobs data release had added more pressure on the greenback as well as the Treasury yields. 

• July 08, 2024 07:01
  

  Stock Market live today: Stock Recommendations: IndiGrid InvIT: What should investors do

  The Centre’s target of achieving nearly 500 GW of installed renewable energy (RE) capacity by 2030 necessitates significant investments in the transmission space. The Central Electricity Authority (CEA) estimates that ₹2.2-lakh crore will be required for inter-state transmission system (ISTS) from FY24 to FY28. Additionally, the CEA projects a need for around 47 GW of Battery Energy Storage Systems (BESS) by 2031-32 to ensure grid stability as RE’s share increases.

• July 08, 2024 07:00
  

  Stock Market Live Today: Index Outlook: Sensex, Nifty 50: Limited room to rise

  Nifty 50 and Sensex continue to move up well. Both the indices have risen breaking above their key near-term resistance. The indices were up over a per cent each last week. The outlook is bullish, and the Sensex and Nifty can rise further in the short term. However, as mentioned last week, crucial resistances are coming up. The current rally can halt around that resistance. We expect the Sensex and Nifty to run into a correction after some more rise from here. 

• July 08, 2024 06:59
  

  Stock Market Updates: IPO Watch: The story of IPOs in H1 2024

  The first half of 2024 has been an eventful phase for IPOs in the mainboard segment. With 38 companies going public so far in 2024 and more IPOs projected to be launched in the second half of the year, including the mega IPOs of Hyundai India and Ola Electric, the going appears good. So far, IPOs in H1 market have delivered a mix of stellar performances, significant declines, and steady gains, indicating a robust and active market environment. 

  Here are six charts capturing the key interesting trends from IPOs in 1H 2024

• July 08, 2024 06:57
  

  Stock Market Live Today: NTPC, Adani Green, JSW Steel, Tata Steel, Ambuja Cement, Ultratech et al: How their capex plans are driving India’s core sectors

  Core sectors producing the key starting materials for economic activity are critical indicators of an economy’s glide path. The amount of coal, oil, steel, cement, power and others produced in a country is an indication of the downstream demand and bears significantly high multiplier effect as well.

  For quite a while there has been a narrative that the private sector must pick the capex baton from the Central government to take the economy forward. How ready is it?

  To get a perspective, we analysed listed stocks in the core sectors. By considering the listed stocks in the core segment — fertilizers, cement, crude oil and natural gas, power, refineries, steel and coal — we can, to an extent, gauge the strength of the capex and productivity growth in the economy. Apart from analysing the aggregate numbers, which can smooth over several outliers, we have also picked the top three companies in the most visible sectors — power, steel and cement — to assess how each company is positioned on the growth curve. Here are our key takeaways.

• July 08, 2024 06:55
  

  Stock Market Updates: Mcap: 8 of top-10 most-valued firms jumps ₹1.83 lakh cr; TCS, Infosys biggest gainers

  Eight of the top-10 most valued firms together added ₹1,83,290.36 crore in market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest gainers, in line with a rally in equities.

  Last week, the BSE benchmark jumped 963.87 points, or 1.21 per cent.

  Reliance Industries remained the most valued firm followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever, and ITC.

  The market valuation of TCS jumped ₹38,894.44 crore to ₹14,51,739.53 crore, becoming the biggest gainer among the top-10 firms.

• July 08, 2024 06:52
  

  Stock Market Updates: Sectoral Watch: FMCG companies see better demand trends in June quarter, uptick in rural growth

  FMCG industry witnessed some improvement in volume growth and continued gradual recovery in rural demand trends in the June quarter. Companies with summer-centric portfolios are likely to report stronger growth in volume in Q1 FY24 due to intense heatwave across the country. 

  Overall analysts expect the key listed companies in the industry to broadly post low-to-mid single-digit volume growth in the June quarter.

  Dabur India, in its quarterly update ahead of the release of Q1FY25 results, said that the June quarter saw sequential improvement in demand with rural growth picking up. It added that domestic business is expected to record “mid-single digit” volume growth.

  Marico also noted in quarterly update that during the June quarter, its domestic business posted a modest uptick in underlying volume growth on a sequential basis.

• July 08, 2024 06:52
  

  Stock Market Updates: SEBI’s demand for more disclosures creates hurdles in IPO process

  Recent directives by the Securities and Exchange Board of India (SEBI) on enhanced disclosure for companies filing for initial public offerings (IPO) has put law firms and investment banks in a quandary as they feel that some of the disclosures are not relevant to the business of the companies and there is little clarity in them, prolonging the entire process.

  “It is important to strike a balance such that information which is material for investors to make an investment decision does not get obscured in this process,” said Abhimanyu Bhattacharya, Partner, Khaitan & Co.

• July 08, 2024 06:51
  

  Stock Market Live Updates: Solar Industries, NBCC and RVNL: Three stocks that outperformed in the week ending June 5

  In the past week, the benchmark indices Sensex and Nifty gained around 1.2 per cent and 1.3 per cent, respectively. Sensex hit the 80,000 mark for the first time ever and Nifty hit an all-time high of 24,401.

  All sectoral indices ended in the green, except for BSE Consumer Durables. The Nifty India Defence Index jumped 13.7 per cent as bullish sentiment continued in the sector. Shares of Mazagon Dock Shipbuilders and Cochin Shipyard were up 32.7 per cent and 28.1 per cent respectively, although there were no fundamental news to substantiate the spike. .

• July 08, 2024 06:47
  

  Stock Market Live Today: Dabur has released pre results update for Q1FY25. Key highlights:

  During Q1FY25, Dabur witnessed improved demand on sequential basis, with rural growth picking up. Going ahead, management expects improvement to accelerate backed by favourable monsoon and continued government focus on macro-economic growth.

  ▪️On consolidated basis, Dabur is expected to report mid to high-single digit revenue growth in Q1FY25. Furthermore, India business is expected to record mid-single digit volume growth.

  ▪️HPC & Healthcare segment is anticipated to deliver growth in high-single digit. Further, food (culinary) category showed good momentum. However, beverage segment was impacted due to sluggish travel and out of home consumption due to harsh summer.

  ▪️Badshah Masala continued to perform well and is expected to report strong volume led growth in high teens.

  ▪️In Q1FY25, International business is expected to deliver strong growth in CC terms. However, significant currency depreciation in Turkey and Egypt continued to affect translated growth.

  ▪️Commodity prices remained stable throughout the quarter. In Q1FY25, GM is expected to improve on account of roll over price increases and cost saving initiatives. However, as benefits of GM expansion were directed towards A&P spends, EBITDA margins are expected report improvement on YoY basis and are likely to grow slightly ahead of the revenue. 

  DART View: 

  On consolidated basis, we have assumed ~7% revenue growth in line with the company guidance. Subsequently, margins are expected to improve on YoY basis to 19.6%. At CMP, the stock is trading at 43x FY26E EPS. We currently have Accumulate rating on the stock.

• July 08, 2024 06:41
  

  Stock Market Live Today: GG eng is going to merge with Integra essentia LTd .. 

  “Integra Essentia Limited” (Transferee Company) shall issue and allot 48 (Forty- Eight) Equity Shares of Face Value of INR 1/- (Rupees One Each) each to Equity Shareholders of “G G Engineering Limited” (Transferor Company) for every 100 

  (One Hundred) Equity Share of Face Value of INR 1/- (Rupees One Each) each held by them in the Transferor Company.

• July 08, 2024 06:40
  

  Stock Market Live Today: JUPITER WAGONS Q1 : FIIs STAKE INCREASED TO 4.14 % FROM 2.28 % STAKE

  DIIs STAKE REDUCED TO 0.92 % FROM 1.92 %

• July 08, 2024 06:40
  

  Stock Market Live Today: Bank of Baroda Bank 1QFY25 Business Update

  •u0009BoB advances portfolio grew by -2% QoQ and 8% YoY, with retail book growth at 3.5% QoQ/21% YoY. 

  •u0009Overall deposits grew by -1.6% QoQ/~9% YoY 

  DART View: Seeing very divergent growth trends across banks this quarter, presumably driven by tighter liquidity resulting in shredding of low yielding assets. Muted growth led by lower corporate share is not necessarily a negative. Stock trading at 1.1x FY26E ABV, we currently have an Accumulate

• July 08, 2024 06:39
  

  Stock Market Live Updates: Stocks to watch out for today

  Master Components Ltd received a purchase order worth ₹2,38,25,000 from a US-based company in the field of childcare.

  Canarys Automations Ltd secured a ₹25.65 crore contract from Jalkal Vibhag, Nagar Nigam Gorakhpur. 

  Kody Technolab Ltd has secured an export order valued at approximately ₹70.67 crores. The order includes Dasher (Serving Robot), Odigo (Advertising Robot), and Vulcan (Cleaning Robot), with deliveries planned over the next 5 months. 

  Urban Enviro Waste Management Ltd received a work order worth ₹4,25,23,029.64 from the Additional Medical Superintendent Office, North Western Railway, Jodhpur, Rajasthan 

  SAR Televenture Ltd has announced a Composite Equity Issue worth ₹450 crore, combining a Rights Issue and a Further Public Offer (FPO). The Rights Issue, set at ₹300 crore, offers 1.5 crore fully paid-up equity shares at ₹200 each, with one Rights share for every existing share held as of July 9, 2024. The FPO, valued at ₹150 crore, has a price band of ₹200-210 per share. The proceeds will be used for capital expenditure, including setting up a Fiber-to-the-Home network and additional telecom towers, along with augmenting working capital for future growth 

  Jay Jalaram Technologies Ltd has secured a significant distribution agreement with Honortech Universal Pvt Ltd, granting it the rights to distribute the “Honor” brand across seven key Indian states 

  Power Grid to consider raising fund via borrowing 

  – borrow upto 16000 cr in FY25 

  – enhance the current borrowing limits from existing Rs. 12,000 Crore to Rs. 15,000 crore 

  Geojit Financial Services to consider fund raising on 12th July 24 

  THERMAX LTD recieve an order worth Rs. 513 Crore from Jindal Energy Botswana Pty Ltd. 

  Bajaj Auto Ltd launches a Gamechanger: Bajaj Freedom! The World’s First CNG Motorcycle.

• July 08, 2024 06:37
  

  Stock Market Live Today: Fund Flow Activity: 05 July 2024 (Rs. In Crs.)

  Provisional Cash

  FII/FPI: NET BUY: +1241.33 

  (13354.3 – 12112.97) 

  DII: NET SELL: -1651.36 

  (12695.07 – 14346.43)