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Market Recap 30-07-2024

Sebencapital

Published
30/07/24
Market Recap 30-07-2024


Indian Indices

I) Nifty : opened at 24839 and touched a high of 24971 then a low of 24798 and closed at 24857 with a total of + 21 points in Positive

II) Bank Nifty: open 51383 and touched a high of 51957 then a low of 51260 and closed at 51499 With a total of + 93 points Positive

III) Fin Nifty: open 23298 and touched a high of 23583 then a low of 23208 and closed at 23338 With a total of + 22points in Positive

IV) Nifty Mid Select: open 12802 and touched a high of 12894 then a low of 12767 and closed at 12869 With a total of + 62points in Positive


NSE Advance and Decline



Nifty 500 Top Gainer

Apar Ind Sales rise 6.64% to Rs 3983.85 . crore Net profit of Apar Industries rose 2.59% to Rs 202.54 crore in the quarter ended June 2024 as against Rs 197.43 crore during the previous quarter ended June 2023. 

This projected migration from a commodity play into a specialty chemicals company has evoked strong market interest in the shares of PCBL Limited

Funds from a fine imposed by the National Green Tribunal (NGT) on the State for causing pollution to the Beas and the Sutlej rivers may soon be used in Punjab to encourage eco-management of cattle dung in cowsheds (gaushalas) and dairy farms through vermicomposting, under which biodegradable waste is converted into organic fertilisers with the help of earthworms.


Nifty 500 TOP LOSER

VBL Q2 results: Sharekhan expects Varun Beverages to log 25.9 per cent YoY rise in profit at Rs 1,265 crore compared with Rs 1,005 crore in the same quarter last year. This, it said, would be in line with 27 per cent YoY growth in the operating profit.

For the company's Lithium-ion project, the onsite construction and installation of production line equipment is currently underway, Exide said in a statement.


Sectoral Performance


Outperforming stocks vs nifty 500 over 1 week


Underperforming Stock vs Nifty 500 over 1 week


Stock With Rising Volume


Headlines

Here are some Indian stocks that are currently making headlines:

  1. Jindal Drilling: The stock surged by 18% after reporting a significant jump in profits for Q1 FY25, with a 263.4% increase compared to the same quarter last year​ (Business Standard)​.
  2. Force Motors: The company's stock rallied by 8% following a strong performance in Q1 FY25, with a 66.2% year-over-year growth in net profit​ (Business Standard)​.
  3. Skipper: This stock also saw a significant jump, rising by 8% after announcing a 125.3% increase in Q1 net profit compared to the previous year​ (Business Standard)​.
  4. Ola Electric: The company is preparing for an IPO with a grey market premium of Rs 12-13, and a price band set between Rs 72-76 per share​ (Business Standard)​.
  5. Vishal Mega Mart and Avanse Financial Services: Both companies recently had their IPO documents returned by SEBI, which has caught the market's attention​ (Business Standard)​.
  6. Nifty 50: The index recently hit an all-time high of 24,861.15 on July 26, 2024, but has shown mixed movement since then​ (TradingView)​.

These stocks and indices have been influenced by a mix of strong financial performances, IPO preparations, and broader market trends. The market's movements have been somewhat cautious due to global economic factors, including potential changes in interest rates by major central banks​ (Business Standard)​​ (Hindustan Times)​​ (TradingView)​.


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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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