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Market Recap 14-08-2024

Sebencapital

Published
14/08/24
Market Recap 14-08-2024


Indian Indices

I) Nifty: opened at 24184 and touched a high of 24196 then a low of 24099 and closed at 24143 with a total of + 4points in Positive

II) Bank Nifty: open 49887 and touched a high of 49959 then a low of 49654 and closed at 49727 With a total of - 104 points Negative

III) Fin Nifty: open 22636 and touched a high of 22663 then a low of 22518 and closed at 22591 With a total of - 5 points in Negative

IV) Nifty Mid Select: open 12598 and touched a high of 12600 then a low of 12471 and closed at 15520 With a total of - 43 points in Negative


NSE Advance and Decline


Nifty 500 Top Gainer

EPL reported strong June quarter results, with an 11% rise in consolidated revenue and a 17% increase in EBITDA. The company's shares rose 12%, and Motilal Oswal reaffirmed a 'buy' rating, projecting substantial growth and setting a target price of ₹275 per share.
PB Fintech share price: The stock surged 15.42 per cent to hit a high of Rs 1,709.40. It was last seen trading 6.05 per cent up at Rs 1,570.60. At this price, the scrip has rallied 96.19 per cent on a year-to-date (YTD) basis Stocks to buy: Muthoot Finance to Uno Minda—SMC Global Securities lists four stocks to bet on amid volatility


Nifty 500 TOP LOSER

Piramal Enterprises shares dropped 8.10% following a 64% decline in Q1 net profit to ₹181 crore due to a high base effect. Retail AUM grew 43% year-on-year, while net interest margin narrowed to 6.7% from 7.3%.

Graphite electrode manufacturer HEG's shares fell over 7 percent after the company announced its June quarter results.


Sectoral Performance


Outperforming stocks vs nifty 500 over 1 week


Underperforming Stock vs Nifty 500 over 1 week


Stock With Rising Volume


Headlines

Today's Indian stock market saw a mix of activities, with various sectors and stocks witnessing notable movements. Here's a summary of the key highlights excluding the broader indices:

1. Banking Sector Activity

  • HDFC Bank: The stock of HDFC Bank was in focus today due to ongoing discussions about the impact of its recent merger with HDFC Ltd. Analysts are assessing the potential benefits of the merger in terms of loan book expansion and cost efficiencies. There was a moderate uptick in the stock price as investors remain optimistic about the long-term prospects of the merged entity.
  • State Bank of India (SBI): SBI continued to draw attention as it maintained its position as the leading public sector bank. The bank's consistent performance in terms of loan growth and asset quality kept investor sentiment positive, though the stock saw some profit-booking after a recent rally.

2. IT Sector Movements

  • Infosys and TCS: The IT giants were under some pressure due to the ongoing global economic uncertainties, particularly in the U.S. and Europe. Concerns over potential delays in client spending led to cautious trading in these stocks. However, the long-term outlook remains positive given their strong order books and robust digital transformation initiatives.
  • Wipro: Wipro saw a minor decline following reports of management changes. While the stock has underperformed in the recent past, investors are keenly watching for signs of a turnaround, particularly in the context of the company's strategic initiatives in cloud and cybersecurity services.

3. Pharmaceutical Sector Updates

  • Sun Pharmaceutical Industries: Sun Pharma was in the spotlight as it announced the launch of a new drug in the U.S. market. The company's focus on specialty drugs continues to drive growth, and today's announcement further bolstered investor confidence. The stock saw a moderate rise in intraday trading.
  • Dr. Reddy's Laboratories: Dr. Reddy's stock faced some volatility following news of regulatory challenges in one of its key international markets. However, the company’s strong pipeline of generic drugs and ongoing efforts to expand its global footprint kept long-term investors interested.

4. Automobile Sector Developments

  • Maruti Suzuki: Maruti Suzuki remained a focal point due to the increasing demand for its new models, particularly in the compact SUV segment. The company’s strong sales figures for the month, coupled with its plans to expand electric vehicle production, provided a positive boost to the stock.
  • Tata Motors: Tata Motors experienced some profit-taking after a strong rally in recent sessions. The company’s aggressive push into the electric vehicle market, along with its JLR (Jaguar Land Rover) business, continues to attract investor attention, though concerns over global economic conditions remain a headwind.

5. Energy Sector Highlights

  • Reliance Industries: Reliance Industries, a key player in the energy sector, saw mixed trading today. While its telecom and retail divisions continue to drive growth, there were concerns over the performance of its refining and petrochemical segments. Investors are also closely watching the company’s plans to further diversify into green energy.
  • ONGC: Oil and Natural Gas Corporation (ONGC) saw positive movement on the back of rising crude oil prices. The company’s stock gained as global oil prices remained elevated due to supply concerns, particularly in the wake of geopolitical tensions.

6. Real Estate and Infrastructure

  • DLF Ltd.: DLF was in the limelight following the announcement of a major new project in the luxury residential segment. The company’s continued focus on high-end real estate, coupled with strong sales in the ongoing projects, helped the stock gain traction.
  • Larsen & Toubro (L&T): L&T’s stock remained stable as the company secured new orders in the infrastructure sector. L&T’s strong order book and diversified business model make it a preferred choice for long-term investors, despite short-term market fluctuations.

7. FMCG Sector Activity

  • Hindustan Unilever (HUL): HUL’s stock saw a slight dip as concerns over rising input costs weighed on investor sentiment. However, the company’s strong brand portfolio and pricing power in the market continue to provide a cushion against these challenges.
  • ITC Ltd.: ITC experienced a moderate rise as its diversified business model, spanning cigarettes, FMCG, hotels, and agri-business, remains a key strength. Investors are particularly interested in the company’s expansion in the FMCG segment, which is expected to drive future growth.

8. Metals and Mining

  • Tata Steel: Tata Steel saw some buying interest as global steel prices showed signs of stabilizing after a period of volatility. The company’s focus on cost efficiency and expanding its product portfolio in high-margin segments continues to attract long-term investors.
  • Hindalco Industries: Hindalco faced some pressure due to concerns over aluminum prices and global demand. However, the company’s efforts to increase value-added production and its focus on sustainability initiatives remain positive factors.

9. Telecom Sector

  • Bharti Airtel: Bharti Airtel saw a mixed session with slight gains, driven by its continued focus on expanding its 5G network and improving ARPU (Average Revenue Per User). The company’s efforts in digital services and its strategic partnerships also remain in focus for investors.
  • Vodafone Idea: Vodafone Idea continued to struggle with ongoing financial challenges, though there were reports of potential new fundraising efforts. The stock remains volatile as investors weigh the risks associated with the company’s high debt levels and competitive pressures.

10. Key Corporate Announcements

  • Several mid-cap and small-cap companies announced their quarterly results today. Among the notable performers were Jubilant Food Works and Godrej Properties, both of which reported strong earnings growth, leading to significant stock price appreciation.
  • In the IPO space, the upcoming listings of several companies, including those in the tech and pharma sectors, continued to generate buzz in the market.

In conclusion, today's trading session was marked by sector-specific developments, corporate announcements, and stock-specific movements. Investors remain cautious yet optimistic, balancing global economic uncertainties with domestic growth prospects.


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Written by Sauravsingh

Techpreneur and adept trader, Sauravsingh Tomar seamlessly blends the worlds of technology and finance. With rich experience in Forex and Stock markets, he's not only a trading maven but also a pioneer in innovative digital solutions. Beyond charts and code, Sauravsingh is a passionate mentor, guiding many towards financial and technological success. In his downtime, he's often found exploring new places or immersed in a compelling read.

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