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Both <keyword id="20204377" type="General" weightage="20" keywordseo="indices" source="keywords">indices</keyword>, <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword>, opened the day in green, with Sensex up by over 100 points to trade at 80,543.05 points, and Nifty trading at 24,624.20, up by 0.21% <keyword id="19908646" type="General" weightage="20" keywordseo="BPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="BPCL" meta.hostid="261" meta.entityid="BPCL">BPCL</keyword>, <keyword id="20366589" type="General" weightage="20" keywordseo="Hero-Moto-Corp" source="keywords" meta.keywordsubtype="org" meta.entityname="Hero Moto Corp" meta.hostid="261" meta.entityid="Hero Moto Corp">Hero Moto Corp</keyword>, <keyword id="19950203" type="General" weightage="20" keywordseo="TCS" source="keywords" meta.keywordsubtype="org" meta.entityname="TCS" meta.hostid="261" meta.entityid="TCS">TCS</keyword>, <keyword id="19901053" type="General" weightage="20" keywordseo="IndusInd-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="IndusInd Bank" meta.hostid="261" meta.entityid="IndusInd Bank">IndusInd Bank</keyword>, and <keyword id="19963567" type="General" weightage="20" keywordseo="UltraTech-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="UltraTech Cement" meta.hostid="261" meta.entityid="UltraTech Cement">UltraTech Cement</keyword> gained early lead during today's trade, while ONGC, Cipla, Bharti Airtel, Power Grid Corporation of India, and JSW Steel were amidst the leading laggards. All broad market indices opened in green, with the exception of India VIX, which dipped by 0.59%. With the exception of Nifty Realty, all other sectoral indices opened the day in green. Aditya Gaggar, director of Progressive Shares, noted that non-directional trade ended marginally higher at 24,573. The Index has formed a small red candle but the overall uptrend is intact and as per the range breakout, the approximate target comes to 24,870 with the downside being protected at 24,420. "BankNifty has been oscillating in a well-maintained range of 49,730-,50,730, and awaiting a breakout for a clear picture. The Energy sector is likely to extend its positive momentum as it has given a breakout. We continue to hold our positive stance on the IT and <keyword id="19933821" type="General" weightage="20" keywordseo="pharma" source="keywords">Pharma</keyword> sectors. With a positive divergence in the RSI, the metal sector stands at the higher end of its consolidation range, and in the case of a breakout, one can expect a strong rally. The defensive sector i.e. the FMCG is on the verge of providing a breakout, and post the breakout, we can witness a sharp up move. Some of the stocks appear strong on a technical front namely BEPL, Bharat Wire, D-Link / Supreme Petro, Kopran, and Sequent Scientific / Shriram Finance", he continued.

Stock market today: Nifty, Sensex open with muted gains, realty index takes a dip

Both <keyword id="20204377" type="General" weightage="20" keywordseo="indices" source="keywords">indices</keyword>, <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> opened the day in red. While Nifty was down by 0.28% to trade at 24,461.7 points. Sensex was also down by 0.31%, <keyword id="20114014" type="General" weightage="20" keywordseo="trading" source="keywords">trading</keyword> at 80,353.25 as of 9:30 am. <keyword id="19963567" type="General" weightage="20" keywordseo="Ultratech-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="Ultratech Cement" meta.hostid="261" meta.entityid="Ultratech Cement">Ultratech Cement</keyword>, NTPC, BPCL, Infosys and Dr. Reddy were amongst the top gainers in early morning trade, while Wipro, <keyword id="19957746" type="General" weightage="20" keywordseo="Kotak-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Kotak Bank" meta.hostid="261" meta.entityid="Kotak Bank">Kotak Bank</keyword>, Reliance, Eicher Motors and Larsen and Toubro were amongst the leading laggards. Ahead of the <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">budget</keyword>, which is set to be presented tomorrow, all broad market indices opened the day in red, except for India VIX, a gauge for market volatility, which was up by 3.64% during early trade. Nifty microcap and small caps shed over 1% each on opening. As for sectoral indices, auto, realty, consumer durables and oil and gas were down 1% each in opening trade. Only FMCG managed to gain a week start and opened the week in green. Over the weekend, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> reported its Q1FY25 results. The bank's profit after tax (PAT) jumped to Rs 161.8 billion, up by 35.3% on YoY basis, while its advances for the quarter were Rs 24,635 billion, up by 52.5% YoY, but down by 0.9% quarterly. As for its deposits, at Rs 23,790 billion for the quarter, marked a 24.4% uptick YoY, but remained flat over quarters. The bank's net interest income (NII) stood at Rs 298.4 billion, up by 26.4% YoY. Even the bank's net non performing assets ratio (NPA) stood at 0.39% down 1 bps YoY, and up 6 bps QoQ. The share inched up by 0.78% to trade at Rs 1,619.8 in early trade. Kotak, which also reported its Q1FY25 results over the weekend, saw its PAT jump to Rs 6,250 crore, up 81% YoY. Its Net Interest Income (NII) for Q1FY25 increased to Rs 6,842 crore, up 10% YoY. Net Interest Margin (NIM) was 5.02% for April-June 2024. While total advances inched up 20% YoY to Rs 4,05,957 crore as at June 30, 2024, average total deposits grew to Rs 4,35,603 crore, up 21% YoY. During early trade today, the share was trading at Rs 1,756.25, down by 3.59%. Mr. Aditya Gaggar, Director of Progressive Shares notes that the candlestick pattern on the weekly and daily charts denotes weakness. An early indication from GIFT Nifty suggests the same, tepid opening of the Indian equities. A level of 24,200 will serve as strong support while the higher side is capped at 24,800, he said. "Range (52,100-52,750) breakout in Bank Nifty is necessary for a clear direction. On a sectoral front, a mixed view can be seen where we are recommending booking profits on the Auto segment while we are bullish on the FMCG and IT sectors. The Energy and Metal sectors are indicating weakness by forming a bearish engulfing candle and consolidation breakdown respectively. Weakness was seen in the Broader markets also as Mid and Smallcap space has formed a bearish divergence in RSI. Ahead of the Union Budget, we are suggesting to remain light on trading positions and to focus on risk management", he continued.

Stock market today: India VIX up by 3%, NTPC, BPCL take lead in early morning trade

Both indices, <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> started the day in the green. As of 9:30 am, Nifty was trading at 24,562.85 up by 0.25%, while Sensex was up by 0.24% trading at 80,713.22 points. During early morning trade, <keyword id="19950207" type="General" weightage="20" keywordseo="HCL-Tech" source="keywords">HCL Tech</keyword>, <keyword id="19963567" type="General" weightage="20" keywordseo="Ultratech-cement" source="keywords">Ultratech cement</keyword>, <keyword id="22163816" type="General" weightage="20" keywordseo="Shri-Ram-Finance" source="keywords">Shri Ram Finance</keyword>, <keyword id="19923397" type="General" weightage="20" keywordseo="ONGC" source="keywords">ONGC</keyword>, and <keyword id="19945574" type="General" weightage="20" keywordseo="Wipro" source="keywords">Wipro</keyword> took the lead and were in greens, while <keyword id="20026009" type="General" weightage="20" keywordseo="Asian-Paints" source="keywords">Asian Paints</keyword>, <keyword id="19950204" type="General" weightage="20" keywordseo="Tata-Steel" source="keywords">Tata Steel</keyword>, Bharti Airtel, HDFC Life and Hero Moto Corp were amongst the laggards. HCL Tech was up by more than 3%, while Ultratech cement and Shri Ram Finance inched up by over 1% each. As for broad market indices, all mid-cap and small-cap indices saw a weak start to the day, opening in red. India VIX saw a sharp spike, and was up by 4.06% during early trade. Amidst sectoral indices, Nifty realty dipped by over 1% during early trade, while financial services, FMCG, metal and private banks also registered a weak start. Angel One, HDFC AMC and HDFC Life are set to declare their Q1FY25 results during the day. As Aditya Gaggar, Director of Progressive Shares, "the index is in a strong uptrend and one should opt for buy on dips strategy. With the overbought conditions in the Auto sector, we recommend booking profits; however, selective buying can be seen in the ancillary space. We are bullish on ONGC and Reliance from the Energy space. The FMCG and IT sectors have given a breakout which indicates an extension of the current up-move. Keep an eye out for Colpal, Dabur, GodrejCP, ITC, Nestle-Tech Mahindra and Wipro. "We are bullish on the Pharma sector but it is approaching the higher end of the rising channel indicating a short-term reversal in the form of profit booking, however, the overall uptrend remains intact. Some stocks from the Textile segment have given a strong breakout namely Cantabil and Welspun Living", he continued. Shrikant Chouhan, Head Equity Research, Kotak Securities highlights that in the past week, the benchmark indices showed positive momentum, with the Nifty ending 0.73 percent higher and the Sensex gaining 522 points. The FMCG and IT sectors recorded strong momentum, both rallying over 3 percent. However, the Metal and Reality sectors experienced selling pressure despite the overall market momentum. "We believe that 24,400/80,100 and 24,350/79,800 would be crucial support levels for trend-following traders. On the higher side, 24,550-24,600/80,100-80,200 would serve as the resistance zone. A close above 24,650 could drive the market towards 24,900-25,000/81,000/81,300. Conversely, dropping below 24,350/79,800 could alter the sentiment, leading to a retest of the level of 24,150-24,100/79,500-79,100. The strategy should be reducing weak long positions between 24,550/24,600 levels. Buying is advisable around 24,250/24,200, with a stop loss at 24,100 on a closing basis. Our advice is to wait for a deeper correction before buying. Until then, focus on specific stocks", continues Chouhan.

Stock market 15th July: HCL Tech, Shri Ram Finance take lead in early trade as Nifty, Sensex open in green

The market capitalisation of <keyword id="22204882" type="General" weightage="100" keywordseo="BSE-listed-firms" source="keywords">BSE-listed firms</keyword> hit an all-time high of Rs 438.41 lakh crore on Thursday, fuelled by a record-breaking rally in equities where the <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> breached the historic 79,000 mark for the first time. Rallying for the fourth day running, the 30-share BSE Sensex jumped 568.93 points or 0.72% to settle at a new closing peak of 79,243.18 on Thursday. During the day, it zoomed 721.78 points or 0.91% to hit the new lifetime peak of 79,396.03. In the past four trading days, the BSE benchmark jumped 2,033.28 points or 2.63% The market capitalisation of BSE-listed companies hit a lifetime high of Rs 4,38,41,960.73 crore ($ 5.25 trillion). Investors' wealth has gone up by Rs 3.93 lakh crore in four trading sessions. Remarkably, the BSE benchmark took just two trading sessions to cover the journey from the 78,000 level hit on June 25 to breach the 79,000 mark on June 27. The <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> ended at a fresh record high of 24,044.50, rising 175.70 points or 0.74%. Intra-day, it soared 218.65 points or 0.91% to hit the all-time peak of 24,087.45. The Nifty hit the 23,000 mark on May 24 this year. Among the 30 Sensex companies, <keyword id="19963567" type="General" weightage="20" keywordseo="UltraTech-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="UltraTech Cement" meta.hostid="261" meta.entityid="UltraTech Cement">UltraTech Cement</keyword> jumped 5% after the country's leading cement maker said it will acquire a 23% stake in its Chennai-based rival <keyword id="20440239" type="General" weightage="20" keywordseo="India-Cements-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="India Cements Ltd" meta.hostid="261" meta.entityid="India Cements Ltd">India Cements Ltd</keyword>, in a deal estimated to be around Rs 1,885 crore. <keyword id="45179" type="General" weightage="20" keywordseo="ntpc" source="Orion">NTPC</keyword>, JSW Steel, <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, Infosys, <keyword id="6357585" type="General" weightage="20" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword>, Kotak Mahindra Bank and Bharti Airtel were also among the major gainers. <keyword id="45475" type="General" weightage="20" keywordseo="larsen-toubro" source="Orion">Larsen &amp; Toubro</keyword>, Sun Pharma, Nestle, <keyword id="6357149" type="General" weightage="20" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword>, Maruti and State Bank of India were among the laggards. "The Sensex surpassing 79,000 marks a historic milestone, reflecting healthy investor confidence and strong fundamentals in key sectors like banking and telecom. Benchmark indices rallied on Thursday, reversing earlier declines, driven by strong buying in blue-chip companies, propelling the Sensex past this historic barrier and leading the Nifty to a new all-time high". "Remarkably, it took only 23 sessions to rise from 23,000 to 24,000, compared to 88 sessions previously," continued Trivesh D, COO at Tradejini, a discount brokerage firm. "The benchmark indices exhibited bullish momentum, buoyed by an expected revival in the IT sector and consolidation in the cement industry," Vinod Nair, Head of Research at Geojit Financial Services, said.

Market cap of BSE-listed firms hit all-time high of Rs 438.41 lakh crore

Shares of <keyword id="20415123" type="General" weightage="20" keywordseo="India-Cements" source="keywords" meta.keywordsubtype="org" meta.entityname="India Cements" meta.hostid="261" meta.entityid="India Cements">India Cements</keyword> Ltd jumped nearly 14 per cent on Thursday morning after leading <keyword id="6378916" type="General" weightage="20" keywordseo="cement" source="Orion">cement</keyword> maker <keyword id="19963567" type="General" weightage="100" keywordseo="UltraTech-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="UltraTech Cement" meta.hostid="261" meta.entityid="UltraTech Cement">UltraTech Cement</keyword> said it will acquire around 23 per cent stake in the Chennai-based firm for up to Rs 1,885 crore. The stock soared 13.70 per cent to hit 52-week high of Rs 299 on the BSE. On the NSE, the stock climbed 13.77 per cent to Rs 298.80 -- its 52-week high. Shares of UltraTech Cement also jumped 6.51 per cent to hit the one-year peak of Rs 11,875.95 on the BSE. The board of directors of the company at its meeting held on Thursday approved "making a financial investment to purchase up to 7.06 crore equity shares of the India Cements Ltd," a regulatory filing by UltraTech Cement said. The deal would be at "at a price of up to Rs 267 per share," and this non-controlling financial investment constitutes around 23 per cent of the equity share capital of India Cements, the filing said. India Cements' turnover for financial year 2023-24 stood at Rs 5,112 crore. UltraTech Cement has a consolidated capacity of 152.7 Million Tonnes Per Annum (MTPA) of grey cement. It has 24 integrated manufacturing units, 33 grinding units, one clinkerisation unit and 8 bulk packaging terminals.

India Cements' shares jump nearly 14%, UltraTech Cement soars 6.50% following acquisition news

India's <keyword id="20884491" type="General" weightage="20" keywordseo="cement-industry" source="keywords">cement industry</keyword> is heating up faster than a kiln! If one’s tracking the sector, the war-like situation between the existing and emerging cement giants is pretty evident. For the uninitiated, Aditya Birla Group-backed <keyword id="19963567" type="General" weightage="100" keywordseo="Ultratech-Cement" source="keywords" meta.keywordsubtype="org" meta.entityname="Ultratech Cement" meta.hostid="261" meta.entityid="Ultratech Cement">Ultratech Cement</keyword> and <keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords">Adani Group</keyword> have been at loggerheads for increased market share in recent years. And now, JSW Cement also seems to be gearing up to challenge the potential duopoly. As conglomerates aggressively acquire smaller players to achieve market domination, the cement industry in India right now resembles an eighteenth-century battlefield. The battle has significantly escalated this year, but this trend of acquiring regional cement companies can be traced back to 2018 when Ultratech acquired Binani Cement. Since then, both Adani Group and Birla Group have been capturing checkposts all over India, one by one. Ultratech acquired Binani Cement to strengthen its base in the western region and this week, India Cement, for the southern states. Adani has also acquired the Hyderabad-based Penna Cement this year, after acquiring majority stakes in Ambuja Cements and ACC in 2022. But why the obsession with cement? <h2>Why are the Titans clashing for…cement?</h2>India's infrastructure boom is in full swing, and whoever controls the cement supply holds the key to this construction kingdom. Adani Group has been known to follow an acquire &amp; dominate strategy for capturing market segments. <keyword id="19907441" type="General" weightage="20" keywordseo="Aditya-Birla-Group" source="keywords">Aditya Birla Group</keyword>, however, has dominated the cement industry in India through Ultratech for a while now. The answer to the above question may simply lie in establishing the leadership moat for themselves. With even-growing public and private spending on infrastructure, both players want to capture the majority share to dominate the supplies of cement, which is essential for construction. <h2>Where is the sector heading?</h2>While both Adani and Aditya Birla groups have locked horns to acquire CK Birla’s Orient Cement for a while now, a new hurdle threatens their dominance. As per an Economic Times report, Sajjan Jindal-led JSW Cement has now started to evaluate the acquisition of the promoter stake in Orient Cement. As an emerging front, JSW Cement also aims to reach 50 MT per annum by 2030. However, two other major players, Shree Cement and Dalmia Bharat, already have 53 MTPA and 43 MTPA capacity. <div type="image" title="Birla Vs Adani" msid="112196675" hostid="261" sizebytes="284160" caption="&amp;lt;p&amp;gt;Look back at major acquisitions in the cement sector&amp;lt;/p&amp;gt;"></div> However, with over a dozen acquisitions over the last decade, both Ultratech and Adani Group are by far the largest players in the sector eyeing over 200 MT per annum by 2030. <h2>What about the prices?</h2>Will consumers benefit from this cutthroat competition to industry domination? In the short term at least, yes! While lower prices might sound appealing, it's essential to keep an eye on quality as consolidation in the manufacturing sector is always tricky. We don't want to end up with buildings crumbling like cookies. And let's not forget about the little guys. This consolidation of power into a few mega-corporations could squeeze out smaller players, reducing competition and potentially leading to higher prices in the long run. <h2>I think I’ve seen this film before….</h2>The current atmosphere of the cement industry feels reminiscent of what happened in the telecom industry in India in 2016 i.e. the infamous tussle of tariffs. As Reliance Industries launched Jio, it disrupted the entire segment and forced other telecom companies to compete on their terms. As a result, the tariffs fell sharply, companies shut and brands merged, but Jio still claims 40% of the market share in India in terms of subscriber count. Moreover, experts feel that the change in power dynamics in both these industries, cement and telecom, have direct ties to the current government’s industrial policy. Government policies seem to favour companies that have acquired a dominant position in distinct sectors of the economy, which in India’s case are led by two of the richest men in Asia — Gautam Adani and Mukesh Ambani. This strategy of adopting ‘<keyword id="1327299" type="General" weightage="20" keywordseo="national-champions" source="Orion">National Champions</keyword>’ is seemingly inspired by South Korea’s <keyword id="4933297" type="General" weightage="20" keywordseo="Chaebols" source="Orion">Chaebols</keyword> and Japan’s Zaibatsu conglomerates that came into existence decades ago. <h2>From corporate drama to k-drama: Chaebols</h2>The term Chaebol might ring a bell if you've watched K-dramas. They are family-owned business conglomerates in South Korea. This business structure originated in the 1960s and got so popular that it made its way into Korean pop culture. While chaebols have fueled the rapid growth of the Korean economy, concerns about their opaque governance and controlling shareholder interests often deter external investors. Japan’s zaibatsu were also similar financial and industrial conglomerates that were major forces in Japan during World War II. Korea’s Hyundai and Japan’s Mitsubishi are some prime examples of this structure. <h2>Growth of the Goliaths</h2>Viral Acharya, the former Deputy Governor of the RBI, highlights the decade-old trend of the central government achieving economic growth outcomes by working with large conglomerates in part, rather than with state governments. In his conference paper for the Brookings Papers on Economic Activity in March 2023, he demonstrates this pattern with examples from multiple sectors. “By way of specific examples, the share of the Top 5 groups by sales in Civil Engineering and Construction rose from 31% in 2016 to 42% in 2021, in Telecommunications from 65% to over 84%, and in the Retail trade sector from under 44% to over 65%. Similarly, the share of Top-5 groups by Assets rose sharply by 2021 to 68% in the Manufacturing of Basic Metals, 26% in the Manufacturing of Chemicals, 90% in the Manufacturing of Refined Petroleum and Coke, and 47% in the Manufacturing of Non-metallic Mineral Products (including cement and other building materials),” writes Acharya. While this strategy of ‘National Champions’ has benefitted the telecom sector, it has its caveats. The acceleration in the growth may lead to an oligopolistic economy, thereby restricting the entry of new players and stifling innovation. Additionally, a multi-dimensional concentration of power poses the threat of crony capitalism. <h2>National champions: checks and challenges</h2>There’s more to this debate. Arvind Subramanian and Josh Felman, in their paper titled ‘India’s Stalled Rise’ note that the collective impact of this strategy could be more adverse in India, more than anywhere else. They explain that the two big conglomerates — Adani Group and Ambani-led Reliance “have interests that extend throughout the economy, in defence production, ports and airports, energy, natural gas, petroleum, digital platforms, telecommunications, entertainment, media, retail, textiles, financial payments, and education.” Chaebols and Zaibatsu have/had their demerits that range from autocratic decision-making dubbed as ‘imperialistic management’ to the slow inclination of the market towards an oligopolistic structure. However, they weren’t shielded from international competition, nor was this strategy of creating ‘national champions’ shaped using government regulation. They were prevalent in sectors that faced competition internationally, like Hyundai in automobile manufacturing, keeping them in check. The lack of a similar system of checks and balances in India may lead to deeper implications of this strategy of ‘national champions.’ Viral Acharya further notes that they “grew not just at the expense of the smallest firms, but also of the next largest firms” and empirically established a causal link between market power and markups (broadly, profit). At a point when India has seen a monumental shift in infrastructure and looks to capture the market share that China could evacuate, the implications of a tilted policy could prove detrimental. While consolidation can improve performance and catalyse growth, we need to be very careful as a country of the direction we will set ourselves in at this crucial juncture. <h2>Also read:</h2> <div type="Article" hostid="261" msid="112159576" title="India Cement employees to lose jobs after UltraTech acquisition? Chairman Srinivasan answers" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div> <div type="Article" hostid="261" msid="112163130" title="Ambuja Cements Q1FY25 profit at Rs 789.63 crore; revenue at Rs 8,311.48 crore" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div>

Cementing dominance: Birla vs Adani, of Chaebols, conglomerates, and National Champions

<ul><li>Equity benchmark <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> plummeted over 700 points to sink below the 74,000 level and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> retreated from a record high on Friday.</li><li> Heavy selling pressure in <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, L&amp;T and HDFC bank counters also pulled indices down, traders said.</li><li>The 30-share BSE Sensex dropped 732.96 points or 0.98% to settle at 73,878.15 after soaring 484.07 points earlier in the day.</li></ul>Equity benchmark Sensex plummeted over 700 points to sink below the 74,000 level and Nifty retreated from a record high on Friday as investors pared exposure to telecom, capital goods and tech stocks. Heavy selling pressure in Reliance Industries, L&amp;T and HDFC bank counters also pulled indices down, traders said. The 30-share BSE Sensex dropped 732.96 points or 0.98 per cent to settle at 73,878.15 after soaring 484.07 points earlier in the day. From its intra-day high of 75,095.18, the benchmark tanked 1,627.45 points to the day's low of 73,467.73. The NSE Nifty also declined 172.35 points or 0.76 per cent to 22,475.85. The benchmark hit a record 22,794.70 in the early trade, up 146.5 points or 0.64 per cent. From the Sensex basket, Larsen &amp; Toubro, Maruti, Reliance Industries, Nestle, Bharti Airtel, <keyword id="19963567" type="General" weightage="20" keywordseo="ultratech-cement" source="keywords">UltraTech Cement</keyword>, Kotak Mahindra Bank and JSW Steel were among the major laggards. <keyword id="19955371" type="General" weightage="20" keywordseo="Bajaj-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Finance" meta.hostid="261" meta.entityid="Bajaj Finance">Bajaj Finance</keyword> climbed nearly 1 per cent higher. The Reserve Bank of India (RBI) has lifted restrictions on Bajaj Finance on sanctioning and disbursal of loans through eCOM and Insta EMI Card, the company said in a regulatory filing on Thursday. In November last year, the central bank directed Bajaj Finance to stop sanction and disbursal of loans under its two lending products -- eCOM and Insta EMI Card -- due to the company's non-adherence to the extant provisions of digital lending guidelines. Bajaj Finserv, Mahindra &amp; Mahindra, State Bank of India, ICICI Bank and Infosys were among the other gainers. "Profit-booking and a degree of caution ahead of the release of the US non-farm payroll resulted in selling pressure in the market. However, the absence of significant negative surprises in Q4 earnings thus far, along with a decline in oil prices, might help to mitigate the downside. "Though the correction was broad-based, the large-cap stock was the key underperformer due to the moderation of FII's exposure to the domestic market," said Vinod Nair, Head of Research, Geojit Financial Services. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 964.47 crore on Thursday, according to exchange data. In Asian markets, Hong Kong settled in the positive territory, while Seoul ended lower. Markets in Tokyo and Shanghai were closed for the holidays. European markets were trading in the green. Wall Street ended with gains on Thursday. Global oil benchmark Brent crude declined 0.06 per cent to USD 83.62 a barrel. On Thursday, the BSE benchmark climbed 128.33 points or 0.17 per cent to settle at 74,611.11. The NSE Nifty went up by 43.35 points or 0.19 per cent to 22,648.20. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-grow-by-6-in-q1-2024-samsung-retakes-the-top-spot/articleshow/109817280.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-grow-by-6-in-q1-2024-samsung-retakes-the-top-spot/articleshow/109817280.cms" target="_blank">Global smartphone shipments grow by 6% in Q1 2024, Samsung retakes the top spot</a><a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank">Electric two-wheeler sales crater in April 2024 as prices increase amid reduced subsidies</a><a href="https://www.businessinsider.in/business/auto/webstories/bajaj-pulsar-ns400z-launched-at-1-85-lakh-becomes-cheapest-400cc-bike-in-the-country/slidelist/109810458.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/bajaj-pulsar-ns400z-launched-at-1-85-lakh-becomes-cheapest-400cc-bike-in-the-country/slidelist/109810458.cms" target="_blank">Bajaj Pulsar NS400Z launched at ₹1.85 lakh, becomes cheapest 400cc bike in the country</a>

Sensex tumbles 700 points amid broad-based selloff; Nifty slips from record

Mumbai, Benchmark Sensex and <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> recouped from early losses and settled at fresh record high levels in a volatile trade on Wednesday following buying in bank and select IT shares and gains in European markets. The 30-share BSE Sensex jumped 408.86 points or 0.55 per cent to settle at a new record high of 74,085.99. During the day, it went up by 474.14 points or 0.64 per cent to hit an all-time high of 74,151.27. The Nifty climbed 117.75 points or 0.53 per cent to settle at a fresh closing peak of 22,474.05. During the day, it jumped 140.9 points or 0.63 per cent to reach its record high of 22,497.20. The benchmark indices traded lower in the first half of the session but early gains in European markets helped recoup losses in closed in the green. Among the Sensex firms, Kotak Mahindra Bank, Axis Bank, Bharti Airtel, <keyword id="20026907" type="General" weightage="20" keywordseo="sun-pharma" source="keywords">Sun Pharma</keyword>, HCL Technologies, Mahindra &amp; Mahindra, Titan and Tata Consultancy Services were the biggest gainers. <keyword id="19963567" type="General" weightage="20" keywordseo="ultratech-cement" source="keywords">UltraTech Cement</keyword>, NTPC, Maruti, JSW Steel, Power Grid and <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> were among the laggards. In Asian markets, Seoul, Tokyo and Shanghai settled lower while Hong Kong ended with gains. European equity markets were trading in the green. The US markets ended lower on Tuesday. "Global markets witnessed mixed signals ahead of the US FED chair's testimony to Congress. The domestic market exhibited a smart recovery in the second half, reversing initial losses as buying picked up in large-cap stocks," said <keyword id="19969359" type="General" weightage="20" keywordseo="vinod-nair" source="keywords">Vinod Nair</keyword>, Head of Research, Geojit Financial Services. Global oil benchmark Brent crude climbed 0.80 per cent to USD 82.59 a barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 574.28 crore on Tuesday, according to exchange data. Taking a breather after a record-breaking rally, the BSE benchmark declined 195.16 points or 0.26 per cent to settle at 73,677.13 on Tuesday. The Nifty dipped 49.30 points or 0.22 per cent to 22,356.30.

Sensex, Nifty hit new all-time high levels on gains in banking, IT shares

<keyword id="19896379" type="General" weightage="20" keywordseo="benchmark" source="keywords">Benchmark</keyword> equity indices Sensex and Nifty closed at new record levels on Monday in a highly volatile trade driven by gains in energy and bank shares and a rally in Asian markets. Extending its rally to the fourth straight session, the 30-share <keyword id="19895774" type="General" weightage="20" keywordseo="bse" source="keywords">BSE</keyword> Sensex climbed 66.14 points or 0.09 per cent to settle at an all-time high of 73,872.29. During the day, it jumped 183.98 points or 0.24 per cent to 73,990.13. The Nifty rose by 27.20 points or 0.12 per cent to close at a lifetime high of 22,405.60 points. During the day, it hit an all-time high level of 22,440.90. Among the Sensex firms, NTPC, <keyword id="19950209" type="General" weightage="20" keywordseo="power-grid" source="keywords">Power Grid</keyword>, Reliance Industries, <keyword id="19950210" type="General" weightage="20" keywordseo="bajaj-finserv" source="keywords">Bajaj Finserv</keyword>, Axis Bank, <keyword id="19924892" type="General" weightage="20" keywordseo="tech-mahindra" source="keywords">Tech Mahindra</keyword>, ICICI Bank, Bharti Airtel and IndusInd Bank were the biggest gainers. JSW Steel, Mahindra &amp; Mahindra, Tata Steel, <keyword id="19963567" type="General" weightage="20" keywordseo="ultratech-cement" source="keywords">UltraTech Cement</keyword>, Infosys and Titan were among the laggards. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the green. European markets were trading on a mixed note. The US markets ended with gains on Friday. Global rating agency Moody's on Monday raised India's growth forecast for 2024 calendar year to 6.8 per cent, from 6.1 per cent estimated earlier, on the back of 'stronger-than-expected' economic data of 2023 and fading global economic headwinds. In a special trading session on Saturday, the BSE benchmark Sensex climbed 60.80 points or 0.08 per cent to reach its all-time closing high of 73,806.15. The Nifty went up by 39.65 points or 0.18 per cent to settle at a new closing high of 22,378.40. Leading stock exchanges BSE and NSE conducted a special trading session in the equity and equity derivative segments on Saturday to check their preparedness to handle major disruption or failure at the primary site. Global oil benchmark Brent crude climbed 0.30 per cent to USD 83.80 a barrel. Foreign institutional investors (FIIs) offloaded equities worth Rs 81.87 crore on Saturday, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/passenger-vehicles-record-11-3-growth-in-february-2024-two-wheelers-record-35-growth/articleshow/108204817.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/passenger-vehicles-record-11-3-growth-in-february-2024-two-wheelers-record-35-growth/articleshow/108204817.cms" target="_blank">Passenger vehicles record 11.3% growth in February 2024, two-wheelers record 35% growth</a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f15-5g-with-6000mah-battery-launched-in-india-starting-at-15999/articleshow/108202302.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f15-5g-with-6000mah-battery-launched-in-india-starting-at-15999/articleshow/108202302.cms" target="_blank">Samsung Galaxy F15 5G with 6,000mAh battery launched in India starting at ₹15,999</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-march-2024/slidelist/108090741.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-march-2024/slidelist/108090741.cms" target="_blank">Upcoming smartphones launching in India in March 2024</a>

Sensex, Nifty scale fresh record highs, rise for 4th day in a row

<keyword id="20226501" type="General" weightage="20" keywordseo="benchmark-sensex" source="keywords">Benchmark Sensex</keyword> rebounded 496 points while <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> closed above the 21,600 level on Friday as buying in heavyweight stocks and a firm trend in global markets helped indices cut short three days of losses. The 30-share <keyword id="19895774" type="General" weightage="20" keywordseo="bse" source="keywords">BSE</keyword> Sensex jumped 496.37 points or 0.70 per cent to settle at 71,683.23. During the day, it zoomed 708.78 points or 0.99 per cent to 71,895.64. The Nifty climbed 160.15 points or 0.75 per cent to close at 21,622.40. In the past three days, the BSE benchmark fell by 2.91 per cent, and the Nifty declined 2.87 per cent. "A 'buy on dips' and encouraging global cues propelled the market's recovery. Today’s rebound was broad based; however, investors are disappointed and expect moderation in the rally. As FIIs persist with risk-off sparked by the likelihood that interest rates may not moderate and domestic earnings growth can slow down as per the initial Q3 results announced. Sector rotation is likely to propel going ahead," said Vinod Nair, Head of Research, Geojit Financial Services. Among the Sensex firms, Bharti Airtel, NTPC, Tech Mahindra, Mahindra &amp; Mahindra, Tata Steel, <keyword id="19963567" type="General" weightage="20" keywordseo="ultratech-cement" source="keywords">UltraTech Cement</keyword>, Titan, Axis Bank, JSW Steel and Larsen &amp; Toubro were the major gainers. IndusInd Bank, Kotak Mahindra Bank, HDFC Bank and State Bank of India were the laggards. In Asian markets, Seoul, and Tokyo settled in the green while Shanghai and Hong Kong ended lower. European markets were trading higher. The US markets ended with gains on Thursday. The BSE benchmark fell by 313.90 points, or 0.44 per cent, to settle at 71,186.86 on Thursday. The Nifty declined 109.70 points, or 0.51 per cent, to 21,462.25. Global oil benchmark Brent crude climbed 0.63 per cent to <keyword id="19944038" type="General" weightage="20" keywordseo="usd" source="keywords">USD</keyword> 79.60 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 9,901.56 crore on Thursday, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/global-pc-shipments-decline-for-the-eighth-straight-quarter-hopes-pinned-on-ai-to-drive-sales/articleshow/106981182.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/global-pc-shipments-decline-for-the-eighth-straight-quarter-hopes-pinned-on-ai-to-drive-sales/articleshow/106981182.cms" target="_blank">Global PC shipments decline for the eighth straight quarter; hopes pinned on AI to drive sales</a><a href="https://www.businessinsider.in/tech/news/google-incognito-mode-has-a-new-disclaimer-you-are-being-tracked/articleshow/106978305.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/google-incognito-mode-has-a-new-disclaimer-you-are-being-tracked/articleshow/106978305.cms" target="_blank">Google Incognito mode has a new disclaimer – You are being tracked</a><a href="https://www.businessinsider.in/tech/news/quishing-scams-on-the-rise-what-is-it-and-how-to-protect-yourself/articleshow/106953014.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/quishing-scams-on-the-rise-what-is-it-and-how-to-protect-yourself/articleshow/106953014.cms" target="_blank">Quishing on the rise – Be alert while scanning payment QR codes</a>

Stock markets recover after 3 days of loss; ICICI, Airtel major movers

Mumbai, Benchmark equity indices Sensex and <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> eked out marginal gains on Wednesday following late buying in capital goods, auto and utility stocks as investors adopted a cautious approach ahead of the US Fed interest rate decision. The 30-share BSE Sensex advanced 33.57 points or 0.05 per cent to settle at 69,584.60, driven by late buying. During the day, it fell 450.47 points or 0.64 per cent to 69,100.56. The Nifty gained 19.95 points or 0.10 per cent to 20,926.35. "The market's focus now shifts to the upcoming FOMC (Federal Open Market Committee) meeting. And the recent global upside is getting far stretched in anticipation of a rapid fall in US Fed rate in CY 2024," said Vinod Nair, Head of Research at Geojit Financial Services. Among the Sensex firms, NTPC, Power Grid, Mahindra &amp; Mahindra, Larsen &amp; Toubro, <keyword id="44642" type="General" weightage="80" keywordseo="sun-pharma" source="Orion">Sun Pharma</keyword>, State Bank of India, Titan and Tata Steel were the major gainers. Tata Consultancy Services, Infosys, Axis Bank, <keyword id="85462" type="General" weightage="80" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword>, <keyword id="6355596" type="General" weightage="50" keywordseo="ultratech-cement" source="Orion">UltraTech Cement</keyword> and <keyword id="111876" type="General" weightage="80" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword> were the major laggards. In the broader market, the BSE midcap gauge climbed 1.06 per cent and smallcap index gained 0.73 per cent. Among the indices, services climbed 1.50 per cent, realty jumped 1.45 per cent, utilities (1.33 per cent), power (1.25 per cent), auto (1.17 per cent) and consumer discretionary (0.85 per cent). In contrast, IT, telecommunication, bankex, oil &amp; gas and teck were the laggards. "Asian shares were mixed while European markets were up on Wednesday, as traders waited for the year's final policy decision from the Federal Reserve and clues on whether the central bank will cut rates next year," said Deepak Jasani, Head of Retail Research, HDFC Securities. In Asian markets, Seoul, Shanghai and Hong Kong settled lower while Tokyo ended in the positive territory. European markets were trading with gains. The US markets ended in positive territory on Tuesday. "Domestic equities were lacklustre ahead US Fed's decision late today. Nifty remained in negative territory for the most part of the day but last hour buying helped indices to close in green with marginal gains of 20 points at 20,926 levels," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, said. Global oil benchmark Brent crude declined 0.27 per cent to USD 73.04 a barrel. Foreign institutional investors (FIIs) were buyers on Wednesday as they bought equities worth Rs 4,710.86 crore, according to exchange data. Snapping its declining trend, retail inflation rose to a three-month high of 5.55 per cent in November on firming food prices, including vegetables and cereals, though it remains within the RBI's comfort zone of less than 6 per cent. After a two-day rally, the BSE benchmark fell by 377.50 points or 0.54 per cent to settle at 69,551.03 on Tuesday. The Nifty declined 90.70 points or 0.43 per cent to 20,906.40.

Stock markets settle marginally higher on late buying; L&T, RIL advance

Mumbai, Equity benchmarks <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> eked out marginal gains to settle in the positive zone after a highly volatile trade on Wednesday, helped by buying in index majors Infosys, ITC and Reliance Industries. However, foreign fund outflows from the equity market restricted the upmove in stocks, traders said. In a choppy session, the 30-share BSE Sensex climbed 92.47 points or 0.14 per cent to settle at 66,023.24. During the day, it fell to a low of 65,664.85 and touched a high of 66,063.43. The Nifty edged higher by 28.45 points or 0.14 per cent to 19,811.85. "Investors are following global markets, which are mostly sluggish with a mixed bias. Due to lack of fresh positive triggers, investors are trading cautiously and taking selective bets," Prashanth Tapse, Research Analyst, Sr VP Research, Mehta Equities Ltd, said. Among the Sensex firms, Infosys, NTPC, Power Grid, Titan, ITC, Tech Mahindra, Hindustan Unilever, Axis Bank, <keyword id="6357585" type="General" weightage="50" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword>, <keyword id="85462" type="General" weightage="50" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword>, Reliance Industries and <keyword id="6355596" type="General" weightage="50" keywordseo="ultratech-cement" source="Orion">UltraTech Cement</keyword> were the biggest gainers. In contrast, IndusInd Bank, Kotak Mahindra Bank, Mahindra &amp; Mahindra, JSW Steel, HDFC Bank and Maruti were the major laggards. In the broader market, the BSE midcap gauge climbed 0.33 per cent, while smallcap index declined 0.63 per cent. Among the indices, power jumped 1.41 per cent, auto climbed 0.64 per cent, teck (0.52 per cent), FMCG (0.34 per cent), capital goods (0.38 per cent) and oil &amp; gas (0.36 per cent). Commodities, financial services, industrials, telecommunication and bankex were among the laggards. Underlining that the banking system continues to be resilient and there is no immediate cause of worry for the system, RBI Governor Shaktikanta Das on Wednesday advised lenders to be more cautious and spot any trend of risk building early. "While banks and NBFCs are showing good performance now, sustaining it requires concerted efforts. In good times like these, banks and NBFCs need to reflect and introspect as to where potential risks could possibly originate," he said. At a time when the system is reporting robust credit growth, Das asked lenders to avoid any form of "exuberance" in their business and to ensure that sectoral and sub-sectoral exposures are "sustainable". In Asian markets, Seoul and Tokyo settled in the green, while Shanghai and Hong Kong ended lower. Europan markets were trading mostly with gains. The US markets ended in negative territory on Tuesday. "Despite the US Fed adopting a cautious stance in its minutes and refraining from indicating a rate cut, the market recovered from the day's correction and ended with mild gain. On the other hand, the broad market witnessed some profit-booking as investors' focus shifted to the primary market, marked by a set of IPOs scheduled for this week. "However, the undercurrent is positive, with a cooling of inflation and an easing US bond yield supporting a short- to medium-term rally," said Vinod Nair, Head of Research at Geojit Financial Services. Global oil benchmark Brent crude declined 0.46 per cent to USD 82.07 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 455.59 crore on Tuesday, according to exchange data. The BSE benchmark climbed 275.62 points or 0.42 per cent to settle at 65,930.77 on Tuesday. The Nifty went up by 89.40 points or 0.45 per cent to 19,783.40.

You Searched For "ultratech cement" and got 12 results

Stock market today: Nifty, Sensex open with muted gains, realty index takes a dip

Ira Alok Puranik

Stock market today: India VIX up by 3%, NTPC, BPCL take lead in early morning trade

Ira Alok Puranik

Stock market 15th July: HCL Tech, Shri Ram Finance take lead in early trade as Nifty, Sensex open in green

Ira Alok Puranik

Market cap of BSE-listed firms hit all-time high of Rs 438.41 lakh crore

PTI

India Cements' shares jump nearly 14%, UltraTech Cement soars 6.50% following acquisition news

PTI

Cementing dominance: Birla vs Adani, of Chaebols, conglomerates, and National Champions

Prerna

Deekshith

Sensex tumbles 700 points amid broad-based selloff; Nifty slips from record

PTI

Sensex, Nifty hit new all-time high levels on gains in banking, IT shares

PTI

Sensex, Nifty scale fresh record highs, rise for 4th day in a row

PTI

Stock markets recover after 3 days of loss; ICICI, Airtel major movers

PTI

Stock markets settle marginally higher on late buying; L&T, RIL advance

PTI

Markets settle with modest gains in highly volatile trade

PTI

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