Closing Bell: Sensex gains for 2nd day, ends 232 pts higher; Nifty near 19,600; M&M rises 4%, Venky's plunges 15%

Broader indexes mirrored their larger peers, with the more domestic-focused midcaps and smallcaps adding 0.51% and 0.22%, respectively. Among Sensex stocks, M&M and Sun Pharma were the top gainers

It all points to evidence that local-currency bonds, which have been the standout trade in emerging markets this year, are now facing tougher competition from stocks

Jubilant FoodWorks, Reliance Industries, ACC, and others emerged as key players in their respective sectors, reflecting their resilience and growth potential.

The Securities and Exchange Board of India (SEBI) will also ask for disclosures around cross holdings - where a publicly-traded company owns stock in another publicly-traded company - and financial transactions within a conglomerate.

The data was sourced from BSE at 12.50 pm, and the updates from the real-time data could come with a lag. The below data also pertains only to the time at which it was taken.

In this article, we explore the concept of RSI and why it is crucial to assess stock movements based on RSI trends. On August 4, Friday, StockEdge reported over 40 stocks that were trending up, and ETMarkets has handpicked ten stocks from this list for closer examination

Broader indexes mirrored their larger peers, with the more domestic-focused midcaps and smallcaps adding 0.51% and 0.22%, respectively. Among Sensex stocks, M&M and Sun Pharma were the top gainers

Several stocks in the market crossed their 100-day Simple Moving Averages (SMA), indicating strong market resilience and investor confidence.

The stock market witnessed a dynamic performance in the stock market as several notable stocks crossed their 20-day Simple Moving Averages (SMA), indicating significant market momentum and potential upward trends.

From the StockEdge’s technical scan on MACD based on the previous day’s data, ETMarkets has collated a list of top large, midcaps whose MACD line has crossed above the signal line. This typically gives a bullish signal, suggesting the price of the stock can tick higher. Also, note the further it is below the zero line, the stronger the signal strength.Let’s first understand MACD and other metrics of importance here. Note: the data is from the previous day (August 4) as today's data is updated by the end of the day. (Source: StockEdge)

In this insightful article, we delve into the concept of the overbought zone and its relevance in the stock market. We explore the Relative Strength Index (RSI) and its significance in assessing stock movements. On August 4, Friday, over 70 stocks were trading in an overbought zone, and ETMarkets has cherry-picked ten of these stocks for closer examination. Aspiring investors can gain valuable insights from the analysis of these stocks to make informed decisions.

RSI or the relative strength index computes the ratio of the recent upward traction in the stock price movement relative to its absolute price movement. The RSI value ranges between 0 and 100. Herein the StockEdge data takes into consideration the time period of 14 days to compute RSI. Furthermore, apart from determining the likely uptrend or uptrend, RSI also enables an understanding of the stock’s overvalued or oversold state. So, here are 6 Nifty 50 stocks signalling a possible uptrend in near term. Note the data is of the previous trading day i.e. August 4 as today’s data is updated EoD. (Source: StockEdge). This is a bullish signal as the RSI has crossed above 50 from below.

"Investors who are looking for short-term gains may book profits at this level. However, aggressive investors who believe in the long-term prospects of the company may hold the stock with a stop loss at around the issue price," said Anubhuti Mishra, Equity Research Analyst at Swastika Investmart.

The BSE MidCap index stocks reached new 52-week highs, reflecting robust market performance and investor optimism. Alkem Laboratories, Aurobindo Pharma, Lupin, and others emerged as the frontrunners, making significant strides in their respective industries.

In this informative article, we delve into the world of stock market indicators, focusing on the Relative Strength Index (RSI). We discuss the significance of RSI in assessing stock movement and identify ten stocks that have recently witnessed a decline in their RSI. As an essential tool for potential investors, we analyze the RSI data of these stocks to provide valuable insights for decision-making.

The 50-share index has reversed after hitting a lifetime of 19,991.85 on July 20, a feat it achieved on the back of five successive record highs and a six-session rally. This has led to a growing concern that the bull market has peaked after a 14% rally seen in the index from March 2023 lows.

In Q1 FY24, Adani Green's consolidated net profit rose 51% year-on-year (YoY) to Rs 323 crore for the quarter ended June 2023. It was Rs 214 crore in the last year quarter. Its revenue from operations jumped 33% to Rs 2,176 crore for the April-June period, compared with Rs 1,635 crore in the corresponding period of last year.

In a regulatory filing, Vishnu Chemicals said its first-ever QIP has witnessed a "strong response" from marquee domestic and foreign institutional investors.

Venky’s reported a profit after tax (PAT) of Rs 19.41 crore in the said quarter versus Rs 49.28 crore in Q1FY23. The profit before tax (PBT) was at Rs 26.64 crore in the June 2023 quarter. The company reported a revenue of Rs 985.63 crore in the April-June 2023 quarter, which was lower than Rs 106.50 crore posted by the company in the March quarter and Rs 120.45 crore posted in Q1FY23

SBI & 5 other Nifty50 stocks see aggressive new short positions, signal bearish trend

OHB jumped 33% after the German space company announced a voluntary public tender offer by US investment company KKR for its outstanding shares.

The advantage of investing in smallcaps is that the returns can be handsome. It is however important to know that the returns can turn negative very quickly in the case of small companies. It has the potential to earn returns but is also risky.

Except for the last two weeks in which nifty witnessed some cuts which can be called as consolidation, nifty and sensex have been under the control of bulls. During this period, some stocks have witnessed consistent improvement in their scores. The selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.

In the last five years many segments of the chemical and specialty chemical sector had been coming into focus. They stay in the limelight for some time, then as too much money chases them which makes their valuations move up sharply and then a long phase of consolidation. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list.

A bulk of the investment (Rs 11,514 crore) went into financial services, which have been a favourite of all big boys of Dalal Street amid solid credit growth. However, the pace of inflow in financial stocks slowed down compared to June when FIIs invested over 19,000 crore in the sector. Capital goods continued to be in the list of top FII favourites as foreign investors spent Rs 5,633 crore in the sector.

Britannia, which also sells cakes and breads, on Friday posted a consolidated profit of 4.58 billion rupees ($55.36 million) for the first quarter ended June 30, while analysts polled by Refinitiv were looking at a profit of 5.01 billion rupees.

Under the agreement, AntFin will be issued OCDs by Resilient Asset Management BV in consideration for the transfer, and to retain the economic value, the filing said. The new ownership structure will likely benefit the company, Paytm further claimed.

Nomura has increased its price target to Rs 1,978 from Rs 1,790 on M&M shares while maintaining a buy. It said that Q1 results were slightly better than the brokerage's estimates with lower other expenses offsetting higher RM/sales. It said that the investment in RBL Bank has a strategic objective.

The stock moved in a narrow range since June 2023 on the daily charts where Rs 690 acted as resistance while on the downside support was visible at Rs 650 level which also corresponds to the 50-DMA.

As per reports, 2.7% equity changed hands in a block deal in Adani Green Energy. The buyers and sellers in the deal are not known.

Meanwhile, the revenue from operations for the reporting quarter stood at Rs 2,416 crore, which was up nearly 71% YoY against Rs 1,414 crore reported by the company in the year-ago period.

Foreign brokerage Jefferies noted that asset quality is holding up for the PSU bank while Kotak Institutional Equities sees a limited downside and called SBI its top pick in the space.

Prominent names that were chased by FII dollars in the quarter gone by include Aurionpro Solutions, Jindal Saw, Titagarh Rail Systems, Newgen Software, Zensar Technologies, Ramkrishna Forgings, Mrs Bectors Food Specialities, and Chennai Petroleum Corporation.

'This time it should be around financial services': Nikunj Dalmia on what to expect from the much anticipated Reliance AGM. Listen in!

The IPO comprised a fresh issue of up to Rs 490 crore and an offer for sale (OFS) of Rs 65.51 lakh shares. The issue received a thumbs-up from analysts with most recommending a "subscribe" over strong financials and growth potential in Northern India.

Delhivery can sustain strong 18-20% revenue CAGR for a long period of time. Over the medium term, the brokerage firm sees adjusted EBIT margins of ~5-6%, with an asset turn of 3-4x.

On the weekly front, the maximum Call OI is placed at 19600 and then towards 19,700 strikes while the maximum Put OI is placed at 19,400 and then towards 19,500 strikes.

After witnessing some selling pressure last week, equity markets will take cues from the RBI policy outcome. Further, stock specific action is likely to continue with some major earnings including LIC, Adani Ports slated this week. Here are 8 technical picks from analysts that can offer gains up to 24%:

Fintech firm One97 Communications Founder and CEO Vijay Shekhar Sharma will acquire 10.30 per cent stake in Paytm from Antfin (Netherlands) Holding BV through an off-market transfer in no cash deal. Antfin will continue to hold the economic rights of the stake that is being transferred to Sharma. Rahul Jain, VP, Research, Dolat Capital shares his insights.

“The high growth prospects of the Auto Ancillary Industry make it one of the sunrise industries in the Indian markets. We like Samvardhana Motherson Sumi which is one of the world’s largest manufacturers of components for the automotive industry. We see up to 50% upside in next 1-1.5 years,” Girish Sodani, Head of Equity Market at Swastika Investmart Ltd, said.

In the Nifty500 pack, 6 stocks close prices crossed above their 200 DMA (Daily Moving Averages) on August 4, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders to determine a particular stock's overall trend. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

Sensex jumps over 150 points; Nifty nears 19,550; Paytm surges 11%, Adani Green plunges 8%; M&M, Bajaj Finserv, Wipro are some of the gainers in the morning trade.

From the Sensex pack, M&M, NTPC, Bajaj Finserv, HCL Tech, Wipro, and TCS opened with gains, while ITC, Kotak Bank, Asian Paints, HUL, IndusInd Bank and Nestle opened with cuts.

In the Nifty500 pack, 6 stocks close prices crossed above their 200 DMA (Daily Moving Averages) on August 4, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders to determine a particular stock's overall trend. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

The daily trend of India Cements is bullish to sideways. The RSI for monthly and weekly is showing sideways momentum, however, the RSI for daily is showing bullish momentum. Based on option chain analysis, the range is between 200 and 240. Let’s plan a trade around this.

ET Now spoke to various experts and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on Voltas and Federal Bank while Nooresh Merani has a buy/sell recommendation on ONGC and Indusind Bank for today's trading session. Check out the targets and stoploss.

A relief rally in the equity market pushed up Nifty 50 at open. But it remained in a capped range and despite some profit-booking, ended the day on a positive note.

GIFT Nifty on the NSE IX traded 8 points, or 0.04 per cent, higher at 19,596.50, signaling that Dalal Street was headed for muted start on Monday. Here's a slew of stocks that will be in focus today for various reasons.

In the Nifty500 pack, seven stocks are witnessing Golden Crossovers, according to stockedge.com's technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks' 50-day simple moving averages (SMA) crossed their 200-day SMAs on August 4.