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Indian Indices

I) Nifty: opened at 24248 and touched a high of 24340 then a low of 24079 and closed at 24117 with a total of - 180 points in Negative

II) Bank Nifty: open 50051 and touched a high of 50440 then a low of 49829 and closed at 50156 With a total of + 37 points Positive

III) Fin Nifty: open 22762 and touched a high of 22988 then a low of 22679 and closed at 22838 With a total of + 33 points in Positive

IV) Nifty Mid Select: open 12565 and touched a high of 12609 then a low of 12488 and closed at 12524 With a total of - 41 points in Negative

NSE Advance and Decline

Nifty 500 Top Gainer

Motilal Oswal recommended Neutral rating on BSE with a target price of Rs 2700 in its research report dated August 07, 2024.

Prabhudas Lilladher is bullish on Triveni Turbine has recommended buy rating on the stock with a target price of Rs 719 in its research report dated August 06, 2024.

Nifty 500 TOP LOSER

Going ahead, Managing Director Of Balaji Amines Ram Reddy has maintained a positive outlook for long-term opportunities, anticipating growth and increased prospects in FY25.

 Chemplast Sanmar a speciality chemicals company, has reported a net profit of Rs 24 crore in the June quarter 

Caplin Point Labs Share Price | In a stock exchange filing, the company said its subsidiary, Caplin Steriles Ltd, has been granted final approval from the US health regulator for its Abbreviated New Drug Application (ANDA) Timolol Maleate Ophthalmic Solution USP, 0.5% (Eye drops).

Sectoral Performance

Outperforming stocks vs nifty 500 over 1 week

Underperforming Stock vs Nifty 500 over 1 week

Stock With Rising Volume

Headlines

1. Reliance Industries' Strong Performance

• Reliance Industries Ltd. (RIL) saw a strong performance, driven by optimism around its ongoing initiatives in retail and telecom sectors. The stock's movement significantly influenced market sentiment, with investors showing confidence in the company's strategic expansion plans.

2. IT Sector Under Pressure

• The IT sector faced some pressure today, with major companies like TCS, Infosys, and Wipro seeing slight declines. This was largely due to global macroeconomic concerns and mixed results from tech earnings in the US, which affected investor sentiment towards the sector.

3. Banking and Financial Stocks Lead Gains

• Banking and financial stocks were among the top gainers, with HDFC Bank, ICICI Bank, and Kotak Mahindra Bank leading the charge. The sector benefited from positive quarterly earnings reports and the continued strong performance of the Indian economy, which is expected to boost credit growth.

4. Auto Sector in Focus

• The auto sector remained in focus as companies like Tata Motors and Maruti Suzuki reported strong sales numbers for the last quarter. Additionally, the anticipation of new product launches and the ongoing transition towards electric vehicles (EVs) kept investor interest high.

5. Pharma Sector Shows Resilience

• The pharmaceutical sector showed resilience, with stocks like Sun Pharma and Cipla recording gains. This was largely due to positive news on drug approvals and strong export numbers, which bolstered the sector's outlook.

6. Midcaps and Smallcaps Outperform

• Midcap and small cap stocks outperformed their large-cap counterparts today. Investors were seen diversifying into these segments, driven by attractive valuations and strong earnings growth prospects. Companies in sectors like chemicals, consumer goods, and real estate led the charge.

7. Global Cues Mixed

• The Indian market was also influenced by mixed global cues. While there were concerns over the US Federal Reserve’s stance on interest rates, positive developments in the Eurozone and easing of oil prices provided some relief.

8. Rupee and Crude Oil

• The Indian Rupee strengthened slightly against the US Dollar, supported by stable inflows and a cooling of crude oil prices. Lower oil prices are expected to ease inflationary pressures and support the Indian economy.

9. Market Sentiment and Future Outlook

• Overall market sentiment was cautiously optimistic, with a mix of domestic and global factors playing a role. Investors are looking forward to upcoming corporate earnings and key macroeconomic data releases, which will likely set the tone for the market in the coming weeks.

These highlights provide a snapshot of today’s trading activities and the sectors that stood out in the Indian stock market.

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