Sensex Today Ends at Record High, Zooms 502 Points | Nifty Tops 19,550 | TCS, Infosys & LTIMindtree Surge 5%

Fri, 14 Jul Closing

   Previous Close   

   Pre-Open   

   10:30 am   

On Friday, Indian share markets inched higher, extending gains from the previous day on hopes that the US Federal Reserve would pause rate hikes.

A faster-than-expected slowdown in US inflation reinforced bets that the Fed could end its rate hikes soon after July 2023.

Both the benchmark indices logged gains for a third straight week.

At the closing bell, the BSE Sensex stood higher by 502 points (up 0.8%).

Meanwhile, the NSE Nifty closed higher by 151 points (up 0.8%).

TCS, Tech Mahindra and Infosys were among the top gainers today.

M&M and Power Grid, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 19,640, up by 82 points, at the time of writing.

The BSE MidCap index advanced 1% while the BSE SmallCap index ended higher by 1.2%.

Sectoral indices ended on a mixed note with stocks in the IT sector, metal sector and realty sector witnessing most of the buying.

While consumer durable stocks and power stocks witnessed selling.

Shares of MRF, Bajaj Holdings and Coforge hit their respective 52-week highs today.

PG Electroplast share price was in focus today after the company said it will manufacture LED televisions.

Meanwhile, Monte Carlo Fashions share price surged 4% after the company declared Q1 results.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

In primary markets, the IPO of Utkarsh SFB received massive response as the issue was subscribed over 32.5 times as of 1 PM on Friday.

Asian stock markets ended on a positive note. The Hang Seng ended marginally higher while the Nikkei ended flat. The Shanghai Composite advanced 0.1%.

European shares slipped today but registered their biggest weekly percentage jump in over three months on hopes that easing inflation would allow the Federal Reserve could halt its interest rate hikes soon.

US stock futures are trading on a negative note today with Dow Futures trading down by 4 points while Nasdaq futures are down 15 points.

The rupee is trading at 82.16 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.1% at Rs 59,228 per 10 grams.

Speaking of stock markets, editor of Hidden Treasure, Richa Agarwal talks about the anomaly between KDDL and its listed subsidiary Ethos, in her latest video.

Tune into the below video for more.

In news from the electric vehicle sector, Chinese EV giant BYD Co has submitted a US$1 billion (bn) investment proposal to build electric vehicles and batteries in India in partnership with a local company.

BYD and Hyderabad-based Megha Engineering privately held discussions and submitted a proposal to Indian regulators to form an EV joint venture.

The company's long term plan is to build a full line-up of BYD-brand EVs in India from hatchbacks to luxury models.

The world's largest producer of EVs and plug-in hybrid vehicles had earlier said it planned to set up manufacturing in India.

According to reports, BYD's push into India is part of its rapid global expansion to challenge Tesla, which still leads in sales of EVs alone. If the India investment is approved, it would give BYD a presence in all major global car markets with the exception of US.

Moving on to news from the IT sector, IT companies TCS, Wipro, Infosys and the likes were in focus today as the street remains cautious ahead of Q1 earnings.

You can see the tension building already as management of these companies have said the deal pipeline remains uncertain. Last year, the management of these companies were over optimistic about the deal pipeline.

However, a silver lining is that the management is now confident on the margins front.

Margins were hit due to rising employee costs but with the rupee moving in favor of IT companies, companies might be once again witnessing some expansion as the employee cost normalises.

Speaking of Indian IT stocks, lead chartist at Equitymaster Brijesh Bhatia shared an interesting take on the IT sector this morning.

Here's what he wrote -

• The underperformance of Indian IT stocks compared to Nasdaq can be attributed to several factors.
  
  The accumulation phase on the weekly chart of the Nasdaq has been rewarding, leading to a significant uptrend. On the other hand, the accumulation phase on the Nifty IT index is still valid but has not yet broken the resistance zone, indicating a cautious stance.
  
  Understanding these technical aspects, along with considering fundamental factors, can provide insights for investors and market participants interested in the Indian IT sector.
  
  Traders and investors should closely monitor Nifty IT index above 30,000, as it presents a critical zone for potential bullish reversals and accumulation opportunities to enter Phase D.
  
  For the index to catch up with Nasdaq and progress to Phase D, it is crucial for it to initiate a reversal from the mentioned levels.

Nifty IT Index Weekly Chart

 

You can read the entire editorial here: Is the Indian IT Sector a Sleeping Giant?

Moving on to news from the FMCG sector, the retail portion of an OFS (offer for sale) by Patanjali Foods was fully subscribed on Friday.

Shares of the company surged 5% to hit an upper circuit of Rs 1,225. The shares in the OFS are being sold at a discounted floor price of Rs 1,000.

The non-retail portion was subscribed 200% on Thursday.

The OFS was to be executed over two days, with the offer opening for non-retail investors on 13 July 2023 and for retail investors on 14 July 2023.

Promoters of the company held an 80.8% stake in the company as of 30 June 2023, which needs to be reduced to 75%. The norms mandate a listed entity to have a minimum public shareholding of 25%.

For more details about the company, you can have a look at see the Patanjali Foods company fact sheet and quarterly results on our website.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers