Daily Market Wrap-Up by Stock Whisperers: [18-JULY-2024] – Key Highlights and Stock Insights

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

Author

thestock whisperers
July 18, 2024

18-JULY-2024

Market Overview:

Summary of the Day's Market Performance

  • Sensex ended higher for the fourth consecutive session, closing up 626.91 points or 0.78% at 81,343.46.

  • Nifty also closed higher, up 187.80 points or 0.76% at 24,800.80.

  • Market breadth was negative with 1192 shares advancing, 2194 shares declining, and 75 shares unchanged.

"Indian equity market ended higher for the fourth straight session on July 18. The Sensex closed up by 626.91 points (0.78%) at 81,343.46, and the Nifty gained 187.80 points (0.76%) to end at 24,800.80. Market breadth was negative with 1192 shares advancing, 2194 shares declining, and 75 shares remaining unchanged."

Sector Highlights:

Performance of Key Sectors

  • Bank, Auto, IT, FMCG, and Telecom sectors rose between +0.3% and +2%.

  • Capital Goods, Metal, Power, and Media sectors were down between -1% and -3.5%.

"Among sectors, Bank, Auto, IT, FMCG, and Telecom sectors posted gains between 0.3% and 2%. On the downside, Capital Goods, Metal, Power, and Media sectors declined by 1% to 3.5%."

Market Transactions:

• 📈FII Bought: 5,483.63 cr.

• 📉DII Sold: -2,904.25 cr.

Stock News:

Key Stock Movements and News

  • TCS, LTIMindtree, ONGC, Bajaj Finserv, and Wipro: Among the top gainers on the Nifty.

  • Asian Paints, Hero MotoCorp, Grasim, Coal India, and Bajaj Auto: Top Nifty losers.

  • Power Mech: Bagged an order worth Rs 209.50 crore from Hindustan Zinc.

  • LTIMindtree: Secured a multi-million dollar contract extension from Absa Bank.

  • Tata Communications: Q1 net profit down 13% at Rs 333 crore versus Rs 382 crore YoY.

  • Zee Entertainment Enterprises: To raise funds via FCCBs.

  • Havells: Q1 net profit at Rs 411.2 crore.

  • ONGC: Started production from CBM block in Bokaro, Jharkhand.

  • IRDAI: Imposed a penalty of Rs 2 crore on Bajaj Finance.

  • TVS Motor: Will invest 200 million pounds in its subsidiary.

  • Glenmark Pharma: Received USFDA approval; stock gained.

Support and Resistance :

NIFTY

BANKNIFTY

Stocks to Focus On:

Stocks Worth to Watch

  • NOCIL Ltd

    🛒 At 314

    🎯target 331/340/350+

NOCIL Ltd (1D TF)

Conclusion:

Summary and Outlook

"In summary, the Indian markets continued their upward trend with both Sensex and Nifty posting gains. Bank, Auto, IT, FMCG, and Telecom sectors led the gains, while Capital Goods, Metal, Power, and Media sectors saw declines. Key stock movements and earnings reports will continue to drive market sentiment."

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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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