Daily Market Wrap-Up by Stock Whisperers: 25-JULY-2024

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

Author

thestock whisperers
July 25, 2024

25-JULY-2024

Market Overview:

Summary of the Day's Market Performance

  • Nifty and Sensex pulled back sharply from the day’s low to end flat.

  • Midcaps declined by -0.2% and Smallcaps by -0.3%.

Sector Highlights:

Performance of Key Sectors

  • Top Performers: Oil & Gas (+2.2%), Auto (+1.3%), Pharma (+0.9%).

  • Underperformers: Metals (-1.3%), Banks (-0.8%), Real Estate (-0.8%).

Market Transactions:

• 📉FII Sold: -2,605.49 cr.

• 📈DII Bought: 2,431.69 cr.

Stock News:

Key Stock Movements and News

  • Top Nifty Gainers: Tata Motors, ONGC, SBI Life Insurance, BPCL, Sun Pharma.

  • Top Nifty Losers: Axis Bank, Nestle India, Titan Company, ICICI Bank, Tata Steel.

  • Adani Green Energy: Q1 net profit surged 95% to Rs 629 crore.

  • United Spirits: I-SEC maintains 'add' rating, target raised to Rs 1,480.

  • SBI Life: Nomura maintains a 'buy' rating, target raised to Rs 1,835.

  • Laurus Labs: Q1 profit down to Rs 12 crore from Rs 28 crore, YoY.

  • PNB Housing Finance: Q1 net profit up 25% at Rs 433 crore vs. Rs 347.3 crore, YoY.

  • Mahindra Holidays: Reports Rs 5.9 crore net profit in Q1.

  • Mankind Pharma: To buy BSV Group for Rs 14,000 crore.

  • Steel Authority of India: Approves raising Rs 2,500 crore via private placement of bonds.

  • Canara Bank: Q1 net profit rises 11% to Rs 3,905.28 crore.

  • JK Paper: Shares slip 7% as Q1 profit plunges 54%.

  • Foreigners: Sold nearly $1 billion in Indian equities in two days since the budget.

  • Axis Bank: Shares fall 6.5% post-Q1 results.

  • Ashok Leyland: Q1 net profit down at Rs 525.6 crore, revenue up at Rs 8,599 crore.

Support and Resistance :

NIFTY

BANKNIFTY

Stocks to Focus On:

  • Adani Green Energy: Impressive Q1 results with a 95% surge in net profit.

  • SBI Life: Strong buy rating by Nomura with a target price of Rs 1,835.

  • Mankind Pharma: Strategic acquisition of BSV Group for Rs 14,000 crore.

Conclusion:

Summary and Outlook

"In summary, the Indian markets saw a mixed performance with major indices ending flat. Oil & Gas, Auto, and Pharma sectors led the gains, while Metals, Banks, and Real Estate sectors faced selling pressure. Investors will be closely monitoring upcoming earnings reports and market trends for further direction."

😊Thank you for subscribing to our Market Wrap-Up. Stay tuned for tomorrow's update.

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

Follow us on Social Media 👇