Daily Market Wrap-Up by Stock Whisperers: 30-JULY-2024

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

Author

thestock whisperers
July 30, 2024

30-JULY-2024

End flat.

Market Overview:

Summary of the Day's Market Performance

  • Nifty and Sensex struggled to maintain their morning gains, nosediving in the final hour to end flat.

  • Midcaps (+0.5%) and Smallcaps (+0.9%) had a solid day of gains, showing resilience amidst market volatility.

Sector Highlights:

Performance of Key Sectors

  • Top Gainers: Energy (+1.1%), Auto (+0.6%).

  • Underperformers: FMCG (-1.1%), Pharma (-0.6%).

Market Transactions:

• 📉FII Sold: -5,598.64 cr.

• 📈DII Bought: 5,565.10 cr.

Stock News:

Key Stock Movements and News

  • Top Nifty Gainers: BPCL, NTPC, Tata Motors, Power Grid Corp, Asian Paints.

  • Top Nifty Losers: Cipla, LTIMindtree, SBI Life Insurance, Grasim Industries, Sun Pharma.

  • Jindal Saw: Shares hit a 52-week high on strong Q1 results and a rising order book.

  • Maharashtra Seamless: Shares fell 3% after reporting a 37.6% decline in Q1 profit.

  • PCBL: Shares rallied 11% on expansion plans, with Sanjiv Goenka aiming for a group market capitalization of Rs 2 lakh crore over the next 30 months.

  • TCS: Selected by Follett Higher Education to build cloud-based IT infrastructure.

  • Data Patterns: Shares slipped over 2% as investors booked profits on strong Q1 results.

  • Paytm: Launched NFC Card Soundbox for offline merchants.

  • Adani Energy Solutions: Likely to launch a Rs 6,000 crore QIP today at a floor price of Rs 1,025 per share.

  • GE Power India: Bagged purchase orders worth Rs 3.51 crore from NTPC and SNJ Distillers.

  • NBCC: Secured orders worth Rs 444 crore from the Maharashtra Government.

  • TTK Prestige: Shares rose as the company board considered a buyback.

  • FirstCry: Preparing to launch an IPO at an estimated $2.9 billion valuation.

  • ITD Cementation: Shares gained 3% on winning a contract for constructing a residential colony in New Delhi (Phase II) worth approximately Rs 1,237 crore including taxes and duties.

Support and Resistance :

NIFTY

BANKNIFTY

Stocks to Focus On:

  • Jindal Saw: Strong Q1 performance and a growing order book make it a stock to watch.

  • PCBL: Ambitious expansion plans signal potential growth.

  • FirstCry: The upcoming IPO could offer an attractive investment opportunity.

Conclusion:

Summary and Outlook

"Despite a volatile trading day, Midcaps and Smallcaps demonstrated strength, reflecting investor confidence in these segments. As markets continue to react to various corporate developments, staying updated on sectoral movements and key stock performances is crucial for making informed decisions."

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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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