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Sensex Today Ends at Record Highs, 145 Points Higher | Nity Tops 24,550 | HBL Power System Rallies 10%
Mon, 15 Jul Closing

Sensex Today Ends at Record Highs, 145 Points Higher | Nity Tops 24,550 | HBL Power System Rallies 10%Image source: ThinkNeo/www.istockphoto.com

After opening the day marginally higher, benchmark indices continued the momentum as the session progressed on and ended the day higher.

Frontline indices of the Indian stock market- the Nifty 50 and the Sensex - settled at their fresh closing highs on Monday, 15 July, on supports led by select index heavyweights, such as SBI, ONGC, NTPC and ITC.

At the closing bell, the BSE Sensex stood higher by 145 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 82 points (up 0.3%).

ONGC, SBI and Dr Reddy's Laboratories among the top gainers today.

Tata Steel, Axis Bank and Asian Paints the other hand, were among the top losers today.

The GIFT Nifty was trading at 24,653, up by 107 points, at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index ended 0.9% higher and BSE SmallCap index ended 0.2% higher.

Sectoral indices are trading mixed, with socks in energy sector and realty sector witnessing most buying. Meanwhile stocks in capital goods sector and IT sector witnessed selling pressure.

Shares of Trent, KSB and Colgate hit their respective 52-week highs today.

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...

The rupee is trading at 83.61 against the US$.

Gold prices for the latest contract on MCX are trading 0.1% lower at Rs 73,208 per 10 grams.

Meanwhile, silver prices were trading 0.5% lower at Rs 92,690 per 1 kg.

Speaking of the stock market, there is set to be a wide demand supply gap in power availability over the next decade. So, most power producers are betting on an attractive increase in merchant power tariffs over next five years.

And therefore, there is an unwillingness to sign long term power purchase agreements (PPAs) at relatively lower prices.

So, what does it mean?

Tanushree Banerjee, Research Analyst in her latest video talks hidden opportunities for long term investors.

Tune into below video for more details.

Why Zen Technologies Share Price is Rising

In news from the defence space, Shares of Zen Technologies Limited jumped 5% to Rs 1,361 to be locked in the upper circuit on 15 July after it said it introduced AI-powered robots and launched four defence products.

The company launched new IP-owned defence products for global security in collaboration with its subsidiary, AI Turing Technologies.

These products include Hawkeye, Barbarik-URCWS (Ultralight Remote Control Weapon Station), Prahasta, and Sthir Stab 640.

Here's a small description of each launch.

Hawkeye:  An advanced anti-drone system camera with multiple sensor modules capable of tracking drones up to 15 km in all weather conditions, ensuring continuous threat detection and heightened security.

Barbarik - URCWS:  Recognized as the world's lightest remote-controlled weapon station, Barbarik - URCWS offers precise targeting capabilities for ground vehicles and naval vessels, optimizing battlefield effectiveness and minimizing operational risks.

Prahasta: An automated quadruped equipped with LIDAR and reinforcement learning technology, Prahasta offers real-time 3D terrain mapping for mission planning, navigation, and threat assessment. It supports various calibre weapons and is a versatile tool for frontline defence operations.

Sthir Stab 640:  Designed for armoured vehicles, boats, and ICVs, Sthir Stab 640 features an advanced stabilised sight system using fibre optic gyro technology. It enhances situational awareness with automatic search and tracking capabilities, supporting a wide range of weapon systems from 12.7 mm to 30 mm.

Take a look at the chart below, which shows the stock's performance in the year gone by.

Zen technologies Share Price Performance - 1 Year

Varun Beverages Expands Snack Portfolio

In news from the liquor sector, shares of Varun Beverages surged by 2.4% to Rs 1,622 per share on 15 July after it entered into an exclusive snacks franchising appointment with Dubai-based Premier Nutrition Trading.

This agreement allows Varun Beverages to manufacture, distribute, and sell 'Simba Munchiez' in Zimbabwe and Zambia.

So far this year, the stock of this beverage company rallied over 31%, as compared to the benchmark Nifty 50 11% rise during the same period. Earlier, Varun Beverages had hit a 52-week high of Rs 1,673 per share on 19 June 2024.

As part of its strategy to diversify its snacks portfolio, Varun Beverages, through its subsidiaries Varun Foods (Zimbabwe) and Varun Beverages (Zambia), has entered this exclusive franchise with Premier Nutrition. The company plans to invest around US$ 7 million in a manufacturing facility with an annual capacity of 5,000 metric tonnes (MT) to produce Simba Munchiez in various SKUs for the Zimbabwe and Zambia markets.

The subsidiaries will utilise their distribution strengths to launch a new, affordable range of snack products under the PepsiCo brand. PepsiCo generates approximately 59% of its revenue from snack foods.

Apollo Micro Systems Hits 5% Upper Circuit. Here's Why

Moving on to news from the engineering sector, shares of Apollo Micro Systems were locked at 5% upper circuit at Rs 109.76 per share on 15 July after it secured an order by the Indian Army for procurement of vehicle mounted counter swarm drone system (VMCSDS) under Make-II category of DAP-2020.

Despite the rise, the stock of this defence component maker has declined over 3% so far this year, as compared to a 13% surge in the benchmark Nifty 50 index. Earlier, Apollo Micro shares had hit a 52-week high of Rs 161 per apiece on 20 November 2023.

In an exchange filing, Apollo Micro said that it was shortlisted keeping in view of its capability and awarded the Make-II project by the Indian Army.

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


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