The market changes range; Sensex adds 442 pts

Benchmark indices continued to trade in a tight range with modest gains in morning trading. Positive global signals buoyed sentiments. The Nifty hovered around the 16,200 mark. TI shares snapped their five-day losing streak.

At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 442.13 points, or 0.82%, at 54,202.91. The Nifty 50 Index gained 140.15 points or 0.87% to 16,189.35.

In the broader market, the S&P BSE Mid-Cap Index was up 0.90%, while the S&P BSE Small-Cap Index was up 1.18%.

Market breadth was strong. On the BSE, 2,257 shares rose and 819 shares fell. A total of 168 shares remained unchanged.

Foreign Portfolio Investors (FPI) sold shares worth Rs 1,649.36 crore while Domestic Institutional Investors (DII) were net buyers to the tune of Rs 1,059.46 crore in the Indian stock market on 15 July, provisional data showed.

Earnings today:

HeidelbergCement India (up 0.96%), Nelco (up 1.08%), Bank of Maharashtra (up 0.93%), Bhansali Engineering Polymers (up 2.05%), Alok Industries (up 1.45%) , Ganesh Housing Corporation (down 0.87%), Onward Technologies (down 0.20%) and Tanfac Industries (up 0.22%) will announce their quarterly results today

Hum rate:

The Nifty IT index advanced 2.83% to 27,234.10, snapping its five-day losing streak. The index lost 6.25% in the last five trading sessions.

Among the Nifty IT index constituents, Tech Mahindra (up 4.38%), Larsen & Toubro Infotech (up 3.95%), Infosys (up 3.61%), Coforge (up 2.8%) and Wipro (up 2.59%) were the main gainers

Other gainers included Mindtree (up 2.51%), Mphasis (up 2.18%), HCL Technologies (up 2.15%), L&T Technology Services (up 2.14%) and Tata Consultancy Services (1.92% more).

Actions in Spotlight:

Hindalco Industries gained 3.57%. Aditya Birla Group metals flagship has signed a memorandum of understanding with Israel-based Phinergy and IOC Phinergy (IOP).

Israel-based Phinergy is a pioneer in metal-air battery technology. IOP is a joint venture between Phinergy and PSU Indian Oil Corporation, India’s leading energy company. Under the MoU, Phinergy and IOP will partner exclusively with Hindalco in India, on R&D and pilot production of aluminum plates for aluminium-air batteries, and recycling of aluminum after use in these batteries.

Mrs. Bectors Food Specialties rose 2.65% after the company announced that a new biscuit production line in Rajpura has started commercial production with an installed capacity of 12,000 tonnes/year. The new line had started its commercial production on July 15, 2022. The company said that the installation of the new biscuit production line in Rajpura is part of the Rajura Overall Expansion Project, which also includes construction and civil works. for manufacturing facilities.

Oberoi Realty rose 0.55% after the property developer’s consolidated net profit rose to Rs 403.08 crore in the first quarter of FY23 from Rs 80.63 crore in the first quarter of FY22. Revenue from operations rose 221.2% YoY to Rs 913.11 crore during the quarter. Compared to the fourth quarter of FY22, the company’s net income and revenue are 73.5% and 10.9% higher, respectively. EBITDA was Rs 513.87 crore for Q1 FY23 compared to Rs 135.39 crore for Q1 FY22. Operating margin was 53.90% in Q1 FY22. FY23 vs. 43.93% in the first quarter of FY22.

powered by Capital Markets – Live News

(This story has not been edited by Business Standard staff and is automatically generated from a syndicated feed.)

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that are of interest to you and have broader political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even during these challenging times stemming from Covid-19, we remain committed to keeping you informed and up-to-date with credible news, authoritative viewpoints, and incisive commentary on relevant current issues.
We, however, have a request.

As we grapple with the economic impact of the pandemic, we need your support even more so that we can continue to bring you more quality content. Our subscription model has seen an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve our goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

Leave a Comment