Indian equity
benchmarks surged for the second straight session and ended on a buoyant note.
Sensex and Nifty both added nearly one and a half percent on Monday, taking
positive cues from Asian and global markets. After the gap start, the
benchmarks gradually inched higher, as traders got encouragement with SBI
Research in its latest report stated that the income of farmers has grown in
the range of 1.3-1.7 times in FY22 from the FY18 levels on average while grain
exports soared to over $50 billion.
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The Nifty50 has
formed a long bull candle on the daily chart following a gap-up opening,
according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities. “The short-term
trend of the index continues to be positive,” he said.
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Sensex rose 760.37 points or 1.41% to 54,521.15 and the
Nifty was up by 229.30 points or 1.43% to 16,278.50 in the previous session. Sensex
touched high and low of 54,556.66 and 54,034.97, respectively. There were 23
stocks advancing against 7 stock declining on the index. Nifty traded in a
range of 16,287.95 and 16,142.20. There were 41 stocks advancing against 9
stocks declining on the index.
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Broader Indices
The broader indices ended in green with the BSE Mid cap
index rising 1.49%, while Small cap index was up by 1.39%. On the sectoral
front, IT was up by 3.07%, TECK was up by 2.96%, Metal was up by 2.72%, Bankex was
up by 2.08% and Basic Materials was up by 1.97%, while FMCG down by 0.04% was
the only losing index on BSE.
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India VIX Index
Nifty or India VIX, a
gauge of the market’s expectation of volatility over the near term, fell 2.49%
to 17.16 on Monday.
SGX Nifty
The trends on SGX Nifty indicate
a negative opening for the index in India with a 103 points loss. The Nifty futures were trading
at 16,186.50 on the Singaporean Exchange
around 07:15 hours IST.
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Support and
Resistance levels
The key support level for the Nifty is placed at 16,184, followed by 16,090. If the index moves up, the key resistance levels to watch out for are 16,330 and 16,382, according to pivot charts.
The S&P 500 fell 32.31 points, or 0.8%, to 3,830.85.
The Dow Jones Industrial Average fell 215.65 points, or 0.7%, to 31,072.61.
The Nasdaq fell 92.37 points, or 0.8%, to 11,360.05.
The Russell 2000 index of smaller companies fell 5.96 points, or 0.3%, to 1,738.42.
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Asian Markets
Asian markets ended higher
on Monday. The Heng Seng rose 1.55%, the KOSPI Composite rose 1.90% and the
Shanghai Composite fell 1.55%. Meanwhile, market in Japan was closed for the
Marine Day holiday.
European Markets
European markets
ended mostly higher on Monday, London’s FTSE 100 was up by 0.90%, France’s CAC
40 was up by 0.93% and Germany’s DAX was up by 0.74%.
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Major News Headlines
China extends loans for developers to end
mortgage boycott
The troubled real estate market in China was exposed to new
dangers as a rising boycott of mortgage payments on unfinished homes
intensified. As a result, regulators increased their efforts to persuade
lenders to extend loans to qualifying real estate projects. On Sunday, the
China Banking and Insurance Regulatory Commission (CBIRC), according to
Bloomberg, told an official industry newspaper that banks should satisfy
developers’ financial demands where reasonable.
The China Banking and Insurance Regulatory Commission
issued the advice in reaction to the boycotts, and it aims to speed up the
delivery of homes to customers, reported Bloomberg quoting a newspaper report
published by the regulator.
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Adani Enterprises loses CIL’s short-term coal
import tender
State-owned Coal India Limited has canceled its maiden
tender for short-term import of coal in which Adani Enterprises has emerged as
the lowest bidder, reported PTI. Adani Enterprises has quoted around Rs
17,000-plus per tonne for importing 2.416 MT of coal. Earlier, it was selected
for the short-term shipment. CIL in its board meeting held on July 8, decided
to cancel the short-term tender of 2.416 million tonnes.
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Bank of Maharashtra Q1 Results: Profit jumps
117% to Rs 452 crore
The Pune-based public sector lender’s net profit surged
117.24% year-on-year to Rs 451.9 crore in the quarter ended June on the back of
improvement in its net interest margins (NIMs). It had reported a net profit of
Rs 208.01 crore during the year-ago period. Its net interest income (NII) grew
19.9% in the reported quarter to Rs 1,685.7 crore from Rs 1,405.9 crore in June
2021 quarter.
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L&T Realty to develop three projects worth
Rs 8000 crore in Mumbai region
L&T Realty said it has signed agreements to jointly
develop projects worth Rs 8,000 crore in the Mumbai region as part of its
expansion plan. “The company has entered into a binding agreement to
jointly develop projects in South Mumbai, Western Suburbs, and Thane worth Rs
8,000 crore, with a development potential of 4.4 million square feet,” the
company said in a statement. It did not disclose the name of companies with
whom it has signed agreements.
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HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED sold 5,44,276 shares in
Ansal Housing Limited at Rs 7.01 per share on the NSE.
DILIP NANJI CHHEDA bought 16,800 shares in Bodhi Tree Multimedia Limited
at Rs 106.29 per share on the NSE.
KISHAN MUNDRA sold 84,000 shares in CMM Infraprojects Limited at Rs
12.83 per share on the NSE.
VED PRAKASH AGARWAL sold 97,500 shares in DCM Limited at Rs 56.44 per
share on the NSE.
MANJULA VENTURES LLP sold 79,846 shares in Hilton Metal Forging Limited
at Rs 41.48 per share on the NSE.
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SHAH SHARAD KANAYALAL sold 1,80,388 shares in Oriental Trimex Limited at
Rs 12.99 per share on the NSE.
PRITHVI FINMART PRIVATE LIMITED bought 1,00,000 shares in Rama Steel Tubes
Limited at Rs 394.00 per share on the NSE.
L7 HITECH PRIVATE LIMITED sold 2,00,000 shares in Shree Ram Proteins
Limited at Rs 120.35 per share on the NSE.
KOMAL sold 120,05,908 shares in Vikas Prop & Granite Limited at Rs
1.00 per share on the NSE.
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Foreign institutional
investors (FIIs) bought shares worth a net Rs 156.08 crore, while domestic
institutional investors (DIIs) purchased shares worth a net Rs 844.33 crore in
the Indian equity market on July 18, as per provisional data available on the NSE.
Delta Corp is the
stock/security that has been placed under the F&O ban for July 19.
Securities in the ban period under the F&O segment include companies in
which the security has crossed 95% of the market-wide position limit.
