BSE Sensex ended the day with strong rally of 627 points to 81,343 and Nifty jumped 187 points to 24,800 on July 18, 2024 amid strength in the IT, and FMCG stocks. Nifty Bank gained 223 points to 52,620 and Nifty Midcap fell 552 points to 57,111 on Thursday. Shares of TCS gained 2.93% to 4297.85. Meanwhile, IT stocks and FMCG stocks witnessed rally in trade on Thursday.
Earlier, Indian stock market trade in red during the opening bell of July 18, after being closed on July 17. In the early trade, Sensex touched n intraday low of 80464.62, while Nifty 50 hit the day's low of 24,536.40.
Infosys share price gained by 1% ahead of its Q1 results on Thursday, and also emerged among top gainers on Sensex and Nifty. Other stocks like TCS, Axis Bank, Tech Mahindra, and Bharti Airtel zoomed as well.
On the other hand, sharp selling in heavyweights like Asian Paints after Q1 results, followed by Tata Steel, HDFC Bank, Bajaj Finance, and Ultratech Cement emerged as top losers, dragging broader market.
BSE Midcap slipped over 162%, while BSE Smallcap tried to float in the greens however with marginal upside. On sectoral indices basis, consumer durables were top laggards, followed by capital goods, auto and metal stocks.
Companies like Infosys, Tata Technologies, LTTS, Mastek, Rallis India, Tanla Platforms, Tata Communications, Persistent Systems, Polycab India, Havells, and Dalmia Bharat will be in focus as they will announce their Q1 results in the day for FY25.
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Jul 18, 2024, 3:19 pm IST
Nokia Sees Double-Digit Fall In Q2 Profit
Wireless and fixed-network equipment maker Nokia Thursday reported a double-digit fall in profit and sales in the second quarter due to a continuing weak market as clients are holding off investments in 5G technology. The Espoo, Finland-based company reported a net profit of 328 million euros (USD 359 million) for the April-June period, down 20 per cent from 409 million euros (USD 447 million) a year earlier.
Net income attributable to shareholders was 325 million euros (USD 355 million), down from 410 million euros a year earlier. Similarly to its Nordic rival Ericsson of Sweden, Nokia has suffered in the past year from operators cutting back on investments into 5G and other telecom technology because of economic uncertainty and high financing costs.
“Our financial performance in the second quarter continued to be impacted by the ongoing market weakness with net sales declining 18 per cent year-on-year in constant currency,” Nokia CEO Pekka Lundmark said in a statement.
Jul 18, 2024, 2:57 pm IST
US Ambassador Visits Adani's Khavda Project Site
US Ambassador to India Eric Garcetti visited Adani group's Khavda renewable energy project - the largest in the world, in fresh signs of the conglomerate having moved past Hindenburg attack and winning new backing. "Inspired by my visit to the Khavda Renewal Energy Facility in Gujarat, where I learned about @AdaniGreen's innovative projects advancing India's zero-emissions goals. Sustainable energy is a cornerstone of environmental stewardship, and our bilateral partnership is key to shaping the solutions for a cleaner and greener future for the region and the world," Garcetti said in a post on X after visiting Khavda on July 16. He also posted pictures of the visit.
Adani Green Energy Ltd is developing the world's largest renewable energy project of 30,000 MW on barren land at Khavda in Kutch, Gujarat. Built across 538 square kilometers, it is five times the size of Paris and almost as large as Mumbai city.
Jul 18, 2024, 2:40 pm IST
Hi-Tech Pipes Surged 6% After Reporting Highest Ever Sales Volume In Q1FY25
Shares of Hi-Tech Pipes surged by 6.68 per cent, reaching an intraday high of Rs 158.90 per share on Thursday. This rise followed the company's release of its sales volume update for the June quarter of the fiscal year 2025 (Q1FY25).
Hi-Tech Pipes Ltd announced that it had achieved the highest sales volume in its history for Q1FY25.
The company reported a 45 per cent increase in sales volume, reaching 1,22,155 MT, compared to 84,489 MT in the same period last year. This also represents a 13 per cent increase compared to the 1,07,721 MT recorded in Q4FY24.
Jul 18, 2024, 2:18 pm IST
Gold Price Falls In India: Check Latest Gold Prices After Dip, Silver Slips Too
Gold prices in India witnessed decline today after hitting new high on Wednesday thus offering relief to buyers. Meanwhile, latest comments from Federal Reserve officials sparked prospects of a September interest rate cut in the US.
22K gold price today in India declined by Rs 150 to Rs 68,600/10 grams and 100 grams of 22 carat yellow metal prices today became cheaper by Rs 1500 to settle at Rs 6,86,000. 24K gold prices today slipped by Rs 160 to Rs 74,840/10 grams and 100 grams of 24 carat yellow metal prices today fell by Rs 1600 to Rs 7,48,400. Meanwhile, 18k gold prices today dived by Rs 120 to Rs 56,130/10 grams and 100 grams of 18 carat precious metal prices dipped by Rs 1200 to Rs 5,61,300.
According to a report published in Reuters, “It seems like it’s evident that the Federal Reserve is going to cut rates in September and that, coupled with the concept of the de-dollarization of how central banks have been buying more gold versus the U.S. Treasury yields, are currently the catalyst that is driving gold to these highs” said Alex Ebkarian, chief operating officer at Allegiance Gold.
Jul 18, 2024, 1:58 pm IST
Market Hits All-Time High
The market reached an all-time high, with the Sensex crossing 81,000 for the first time ever and the Nifty surpassing 24,700. Leading the gains in the Nifty 50 were LTIMindtree, TCS, Bajaj Finserv, Wipro, and ONGC.
Jul 18, 2024, 1:16 pm IST
Bharti Airtel Sees Subscriber Surge In May 2024
In May 2024, Bharti Airtel experienced a significant surge in growth, adding 12.50 lakh subscribers—a 66.2% increase compared to the 7.52 lakh users added in the previous month. As a result, the telecom operator held a substantial 33.17% share of the wireless subscriber market as of May 2024.
Jul 18, 2024, 12:54 pm IST
Adani Green Energy Q1 Sees Capacity And Output Growth
Adani Green Energy reported a 31% increase in operational capacity for Q1, reaching 10,934 MW, driven by the addition of 2,418 MW from new solar plants and 200 MW from wind power plants. Energy sales also rose by 22%, totaling 7,356 million units, bolstered by this robust capacity expansion. The company's solar portfolio achieved a capacity utilization factor (CUF) of 25.4%, with plant availability at 99.4%, while the wind portfolio recorded a CUF of 36.2% and 96.8% plant availability. Additionally, the hybrid portfolio maintained a high CUF of 46.0% with 99.7% plant availability.
Jul 18, 2024, 11:54 am IST
Bondada Engineering Ltd. Receives Work Order From KPI Green Energy Limited
KPI Green Energy Limited has granted a work order to Bondada Engineering Limited to supply BOS Items & Services for EPC Works across 2 locations in Gujrat, amounting to Rs. 59,00,02,024/-.
Jul 18, 2024, 11:43 am IST
Largecap Paint Stock Asian Paints Plunges As Much As 4% On Weak Q1 Results; Brokerages Cautious
Asian Paints, one of India's leading paint manufacturers, reported a disappointing set of financial results for the quarter ended June 2025. On July 17, the company announced a 25% year-on-year decline in net profit, which fell to Rs 1,170 crore. This figure was lower than the most pessimistic brokerage forecasts, which had anticipated a 17% drop.
Tata Power Renewable Energy Limited & NHPC Renewable Energy Ink MoU For Solar Initiative
Tata Power Renewable Energy Limited and NHPC Renewable Energy Limited Ink MoU for Ambitious Solar Initiative for Government Buildings. The project includes strategic alliance to Implement Rooftop Solar Projects Across Central Ministries, States, and Union Territories and a Partnership to support 100 percent Solarisation of Government Buildings envisioned under the ambitious PM Surya Ghar Yojan, aims for 100% solarisation of government-owned buildings by December 2025.
Jul 18, 2024, 10:39 am IST
ITI Limited To Showcase Its Technology & Manufacturing Capabilities At Strategic Electronics Summit (SES) 2024
SES is a well-recognized and valuable platform for showcasing equipment and technology for the Army, Air Force, Security & Surveillance, Navy and Space sectors and has consistently attracted large presence of all stakeholders. ITI Limited participated in 13th edition of Strategic Electronics Summit 2024 (SES 2024), India’s premier event for promoting indigenous Strategic Electronics Industry. ITI Limited will demonstrate its cutting-edge technology manufacturing expertise alongside 100 plus exhibitors who have signed up to take part in the event.
Hi-Tech Pipes Ltd., one of the leading steel tubes and pipes manufacturers in India, is proud to announce that it has achieved the highest sales volume in its history for Q1FY25. This remarkable milestone is a testament to the company's commitment to excellence, innovation, and customer satisfaction. In Q1, Hi-Tech Pipes has recorded a significant increase of 45% with a total sales volume of 1,22,155 MT compared to the same period last year from 84,489 MT and 13% on Q-o-Q compared to the sales volume of 1,07,721 MT in Q4FY24.
Jul 18, 2024, 10:01 am IST
Asian Paints Share Price Falls After Q1
Asian Paints, India's largest paint manufacturer, witnessed sharp selling pressure on July 18 after the company has reported a decline in its consolidated net profit for the first quarter of the fiscal year 2025, marking a nearly 25% drop compared to the same period last year. Asian Paint stock dropped by over 4% on BSE. The company announced a net profit of Rs 1,170 crore, a figure that fell short of analyst expectations and highlights the challenging demand environment the paint industry is currently facing. The April-June revenue from operations also fell short of estimates, declining more than 2% year-on-year to Rs 8,970 crore.
Jul 18, 2024, 9:27 am IST
Infosys share price ahead of Q1
Infosys stock gained around 1% in opening bell of July 18 ahead of its Q1 results. India's second largest tech player, Infosys is going to announce its first quarter earnings for FY25 later on July 18. Accordingly, its share price will be in focus. It will be keenly watched if there is any dividend announcement on cards as well. Coming to earnings, Infosys is expected outperform large-cap peers like TCS and HCL Tech by reporting strong revenue. Eventually, Infosys is seen as top performer of Tier-1 IT companies. Additionally, the company's margins are also expected to expand.
Jul 18, 2024, 9:25 am IST
Nifty Opening Price
Nifty 50 opened at 24,543.80, and is currently ranging from 24,580.50 to 24,536.40.
Jul 18, 2024, 9:25 am IST
Sensex Opening Bell
Sensex opened at 80,514.25 lower than previous closing print. The benchmark is trading between 80,652.18 to 80,464.62.
Jul 18, 2024, 9:05 am IST
How Stock Market Will Trade Today?
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services: A dominant factor that has started influencing markets globally is the US presidential elections due in November. Opinion polls indicate that a Trump presidency appears increasingly probable now. The implications of a Trump presidency is higher tariffs on imports into the US, particularly from China. Also, Trump favours a weak dollar. Dollar has already started weakening and the dollar index is now at 103.68. This implies higher gold prices. The positive from the Indian stock market perspective is that expectations of a weakening dollar will increase foreign portfolio inflows, imparting resilience to the market. The market will be influenced by this development and also by Budget expectations. Results of Infosys today will give greater clarity to the movement in IT stocks. Pharma and healthcare stocks are witnessing slow accumulation.
Jul 18, 2024, 9:04 am IST
Investors Strategy Today
Prashanth Tapse, Senior VP (Research), Mehta Equities: Early indications at Gift Nifty suggest a bullish consolidation ahead for the benchmark Nifty, anticipating a strong start particularly for momentum stocks. The recent impressive performance of the Dow Jones, which has surpassed the 41,000 mark, adds to the optimism. Our analysis shows that Nifty’s all-time high is generating significant FOMO among investors, attracting more funds. For aggressive bullish traders, the strategy is to “raise stops to protect gains”. In Tuesday’s session, FIIs were net buyers to the tune of Rs. 1,271 crore, while DIIs were net sellers at Rs. 529 crore. As the corporate earnings season progresses, key companies are set to report their results, adding further momentum to the market.
Jul 18, 2024, 8:42 am IST
Vedanta, HZL Share Price In Focus
Billionaire Anil Agarwal backed metal giant, Vedanta's stock price and its subsidiary Hindustan Zinc's stock will be in focus on July 18 after the latter received the NCLT Jaipur bench's approval on the scheme of arrangement that will allow Hindustan Zinc to transfer its general reserves to retained earnings. While Vedanta is currently in focus for its Rs 8,500 crore QIP, which is in line with Vedanta's plan of deleveraging as it plans to split its own business in the ratio of 1:6.
Jul 18, 2024, 8:17 am IST
Q1 Results Today
Companies like Infosys, Tata Technologies, LTTS, Mastek, Rallis India, Tanla Platforms, Tata Communications, JSW Infrastructure, Persistent Systems, Polycab India, Grindwell Norton, Havells, CIE Automotive India, Sterling and Wilson Renewable Energy, Newgen Software Technologies, CEAT, Shoppers Stop, Mastek, South Indian Bank, Gopal Snacks, Premier Explosives, Swaraj Engines, Sagar Cements, Andhra Cement, and Dalmia Bharat will be in focus as they will announce their Q1 results in the day for FY25.
Jul 18, 2024, 8:15 am IST
Market Previous Performance
In the previous session, stock market rose for third consecutive session. The Nifty closed above 24,600 for the first time, adding 26 points to end at 24,613, while the Sensex rose 52 points, finishing at 80,717.
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