Stock Market Today: Nifty, Sensex End Flat As HDFC Bank, Titan Weigh
Both the Nifty and Sensex ended flat at 24320.55 and 79960.38 points respectively. Intraday, the fell as much as 0.3% .
KEY HIGHLIGHTS
Rupee Flat Against U.S. Dollar
-The local currency closed flat at 83.50 against the US dollar.
-It closed at 83.49 on Friday.
Source: Bloomberg
Nifty, Sensex End Flat As HDFC Bank, Titan Weigh: Closing Bell
Benchmark equity indices remained subdued on the first day of the week as gains in the shares of ITC and Reliance were offset by the fall in HDFC Bank and Titan Company.
Both the Nifty and Sensex ended flat at 24320.55 and 79960.38 points respectively. Intraday, the fell as much as 0.3% .
"The market is turning to a consolidation phase due to the absence of major triggers to support the current premium valuation in the near term, prompting investors to book some profits, "said Vinod Nair, head of research at Geojit Financial Services. He added that with stable input prices and ongoing price cuts, the period of margin expansion appears to be concluding, which is likely to affect earnings and valuations.
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Shares of ITC Ltd., Reliance Industries Ltd., Infosys Ltd., Oil & Natural Gas Ltd., and Hindustan Unilever Ltd. contributed the most to the gains.
But those of HDFC Bank Ltd, Titan Co. Ltd., Mahindra & Mahindra Ltd., Tata Steel Ltd., and Divi's Laboratories Ltd. pulled the Nifty lower.
Most sectoral indices ended lower with Nifty PSU Bank being the top loser.
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Broader indices underperformed. The S&P BSE Midcap ended 0.14% lower and the S&P BSE Smallcap fell 0.22%.
Thirteen out of the 20 sectoral indices on the BSE ended lower. S&P BSE FMCG was the top gainer.
The market breadth was skewed in the favour of sellers. Around 2,254 stocks advanced, 1,804 rose, and 111 remained unchanged on the BSE.
Senco Gold Q1 Business Updates
Saw retail sales growth of 11% and same store sales growth of 4%
Total sales rose 9% YoY including exports, ecommerce, corporate, digital products
Expect to grow at 18-20% percent this year
Source: Exchange filing
Life Insurance Data Of June
Total premium at Rs 42,434 crore, up 14.8% YoY
HDFC Life's total premium at Rs 2,694 crore, up 8.3% YoY
Bajaj Allianz's total premium at Rs 1,082 crore, up 22% YoY
ICICI Prudential's total premium at Rs 1,511 crore, up 14% YoY
Max Life's total premium at Rs 894 crore, down 5.7% YoY
SBI Life's total premium at Rs 2,990 crore, up 21.8% YoY
LIC's total premium at Rs 28,367 crore, up 13.6% YoY
Source: Life Insurance Council
Mercedes-Benz India Clocks Highest-Ever Half-Yearly Sales
Mercedes-Benz India clocks highest-ever half-yearly sales on the back of demand for top-end vehicles.
Sales rose 9% YoY to 9,262 units in H1 2024 vs 8,528 in H1 2023
SUVs made up 55% Mercedes-Benz’s volumes in H1 2024
Top-end vehicles made up 25% of sales in H1 2024
Mercedes-Benz’s EV portfolio grew by 60% YoY in H1 2024
Electric cars made up 5% of total sales volumes in H1 2024
Source: Company statement
