Business Standard

Sensex soars 274 pts, Nifty near 19,400 as Bajaj Fin leaps 7%, Hero Moto 5%

Closing Bell on July 4, 2023: The rally was led by Bajaj Finance, Bajaj Finserv, Hero Moto, Tech M, TCS, Wipro, Sun Pharma, Kotak Bank, Infosys, Cipla, HCL Tech, SBI, HDFC twins, and ICICI Bank

Image SI Reporter New Delhi

Stock market highlights: Equity markets were volatile, but settled at record closing highs yet again on Tuesday, as banking and IT stocks lifted the market mood. 

The S&P BSE Sensex swung in a range of 502 points, hitting an all-time high of 65,673 in the intra-day trade. It, eventually, settled 274 points, or 0.42 per cent, higher at 65,479. The broader Nifty50, too, closed 66 points, or 0.34 per cent, higher at 19,389. It hit a lifetime high of 19,434 during the day.

The benchmarks were supported by a steep rally in Bajaj Finance (up 7 per cent), Bajaj Finserv, Hero Moto, Tech M, TCS, Wipro, Sun Pharma, Kotak Bank, Infosys, Cipla, HCL Tech, SBI, HDFC twins, and ICICI Bank. 

In the broader market, the Nifty MidCap 100 and SmallCap 100 ended the day on a mixed note with the former slipping 0.23 per cent.

IPO Update
Senco Gold: The issue was subscribed 48 per cent till 3:30 PM on the first day of the offer. Retail portion was subscribed 81 per cent, and NII 33 per cent.

PKH Ventures: The issue had not sailed through till 3:30 PM, with bids received for 63 per cent of the offer. Retail portion was subscribed 94 per cent, while NII and QIB portions were subscribed 1.6 times and 11 per cent, respectively.

4:05 PM

COMMENT:: Markets taking a breather ahead of Q1 results

"The market is maintaining its optimism; however, a profit-booking tendency is visible at the upper band as the recent rally has raised the market to the historic new high range. The momentum of the market has shifted from the frontlines of this year to the laggards like IT, commodities, and PSUBs. The market is taking a breather ahead of the upcoming Q1 results. Pharma and banking displayed a positive trend, while the auto sector faced selling pressure following a mixed set of sales data for the month of June."
- Vinod Nair, Head of Research at Geojit Financial Services
4:04 PM

How does India's $11.1 trillion household savings into equities stack up

Jefferies estimates the structural flows from retail to the equity markets at around $30-35 billion per annum. READ MORE

funds, investments, stocks, valuations, returns, investors, MFs, mutual funds, savings

4:02 PM

Eicher Motors cracks over 6% as Hero Moto-Harley Davidson tie up for X440 bike

Priced at Rs 2.29 lakh, X440 motorbike will directly compete with Eicher Motors' Royal Enfield Classic 350's starting price of Rs 1.93 lakh and the Hunter 350's Rs 1.5 lakh. READ MORE

4:01 PM

Genus Power Infra jumps 9% on order win worth Rs 2,207 crore

The company said it has received a letter of award (LoA) of Rs 2,207.53 crore for appointment of Advanced Metering Infrastructure Service Provider (AMISP). READ MORE


3:59 PM

HPL Electric & Power hits 20% upper limit on bagging smart meter orders of Rs 903 cr

HPL said these orders further bolster the company's total pending pipeline order book, now totaling Rs 2250 plus crore. READ MORE


3:58 PM

What's cooking in ITC's kitchen that's made analysts bullish on the stock?

Analysts at Jefferies beleive the stock could top the Rs 600-mark, an upside of over 34 per cent from current levels. READ MORE

3:56 PM

Bajaj Finance soars 7%, hits 52-week high on strong Q1 business update

Shares of Bajaj Finance hit a 52-week high of Rs 7,917, soaring 8 per cent on the BSE in Tuesday's intra-day trade, after the company's new loans booked during first quarter (April to June) of fiscal 2023-24 (Q1FY24) grew by 34 per cent to 9.94 million as compared to 7.42 million in Q1FY23. READ MORE


3:55 PM

How do brokerages view Reliance Jio's new feature phone offering?

Brokerages estimate that the launch of 'JioBharat' phones could disrupt the 2G market, and delay the tariff hike discussions in the near-term. READ MORE


3:54 PM

Untimely rains dent summer sales; to keep durable stocks in check: Analysts

Analysts expect the stocks to remain weak in the near-term as lower sales offtake will lead to companies missing their earnings estimates for the April-June quarter (Q1FY24). READ MORE

Consumer durables, air conditioners, acs

3:52 PM

IDFC gains 2%, IDFC First Bank slips 4% after board approves merger

Shareholders of IDFC Ltd will get 155 shares of IDFC First Bank for every 100 shares held in the former. READ MORE


3:51 PM

HMA Agro ends on par to issue price on debut

Post listing, the stock had hit a high of Rs 667, up 14 per cent as against the issue price of Rs 585 per share on the NSE. READ MORE


3:49 PM

Sectoral Performers:: IT, Financial indices gain; Auto index slips


3:47 PM

Market Breadth was marginally negative


3:45 PM

BSE Smallcap Heatmap:: Nine stocks zoom over 8%; only one decline more than 8%


3:44 PM

BSE Midcap Heatmap:: BoI, Bayer crop rally up to 4%; L&T Finance dips 3%


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First Published: Jul 04 2023 | 7:30 AM IST

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