Daily Market Wrap-Up by Stock Whisperers: [16-JULY-2024] – Key Highlights and Stock Insights

Market Wrap-Up Your daily dose of market insights and stock updates

Author

thestock whisperers
July 16, 2024

16-JULY-2024

Market Overview:

Summary of the Day's Market Performance

  • Sensex ended higher for the third consecutive session, closing up 51.69 points or 0.06% at 80,716.55.

  • Nifty also closed higher, up 26.30 points or 0.11% at 24,613.00.

  • Market breadth was slightly positive with 1791 shares advancing, 1726 shares declining, and 68 shares unchanged.

"Indian benchmark indices ended higher for the third consecutive session on July 16. The Sensex closed up by 51.69 points (0.06%) at 80,716.55, and the Nifty gained 26.30 points (0.11%) to end at 24,613.00. The market saw 1791 shares advancing, 1726 shares declining, and 68 shares remaining unchanged."

  • Stock market holiday: Stock exchanges BSE, and NSE will be closed for trading on Wednesday 17-JULY-2024 on account of Muharram

Sector Highlights:

Performance of Key Sectors

  • Realty index surged +1.6%.

  • FMCG, IT, Metal, and Telecom sectors were up between +0.3% and +0.9%.

  • The media index shed -1%, while Power and Capital Goods indices were down -0.5% each.

"Among sectors, the Realty index surged by 1.6%, while FMCG, IT, Metal, and Telecom sectors posted gains between 0.3% and 0.9%. On the downside, the Media index shed 1%, and Power and Capital Goods indices were down by 0.5% each."

Market Transactions:

• 📈FII Bought: 1,271.45 cr.

• 📉DII Sold: -529.48 cr.

Stock News:

Key Stock Movements and News

  • Coal India, BPCL, HUL, Tata Consumer Products, and Bharti Airtel: Top Nifty gainers.

  • Shriram Finance, Dr Reddy's Labs, Kotak Mahindra Bank, UltraTech Cement, and Reliance Industries: Top Nifty losers.

  • Jio Financial Services: Share price fell over 2% after tepid Q1FY25 results.

  • Zomato: Dropped over 5% on profit booking.

  • Udaipur Cement: Stock price slipped over 5% after June quarter results.

  • Bajaj Auto: Q1FY25 results showed a profit rise of 19% YoY to Rs 1,988 crore; stock up 2%.

  • Goldman Sachs: Maintains 'buy' on HDFC Life with a target of Rs 765.

  • Century Textiles: Approved fundraising up to Rs 1000 crore via bonds.

  • Bharti Hexacom: Stock soared 9.5% after JPMorgan initiated coverage with an 'overweight' tag.

  • Jyoti Structures: Shares gained 5% on order wins; received an order worth Rs 117.74 crore for construction and part supply of the 765kV D/C KPSIII-AP44 Transmission Line.

  • S J Logistics India: Shares up 5% on Rs 520 million order win.

Support and Resistance :

NIFTY

BANKNIFTY

Stocks to Focus On:

Stocks Worth to Watch

  • RITES

    🛒 Between 760

    🎯target 800/805

    (Update)

The Result of Past Stock Focus:

10-07-2024

HITECH

Target hit within 3 trading days

✅

12-07-2024

SEQUENT

Target hit within two trading days

✅

Conclusion:

Summary and Outlook

"In summary, the Indian markets ended higher for the third consecutive session with both Sensex and Nifty posting gains. The Realty sector led the way, while the Media index saw losses. Looking ahead, key earnings reports and sector-specific developments will continue to influence market movements."

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Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered financial advice.

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