Share Market Highlights: Sensex ends 465 points higher, Nifty at 10,763; M&M, HDFC Bank top gainers

Sensex, Nifty Updates:Sensex and Nifty closed majorly bullish on Monday, extending last week's gains amid positive global equities. Tracking gains from index heavyweight dstocks from IT and auto sector, Sensex climbed 465 points higher to 36,487 and Nifty rose 156 points to 10,763.
On Friday, Sensex closed 177 points higher at 36,021 and Nifty ended 55 points higher at 10,607. Global equities were buoyed today as positive macroeconomic data flow and hopes of a COVID-19 vaccine boosted investor sentiment.

Here's a look at the updates of the market action on BSE and NSE today

3. 44 PM: Closing

Sensex and Nifty closed majorly bullish on Monday, extending last week's gains amid positive global equities. Tracking gains from index heavyweight dstocks from IT and auto sector, Sensex climbed 465 points higher to 36,487 and Nifty rose 156 points to 10,763.

3. 27 PM: Sensex, Nifty hit four-month highs

Sensex and Nifty hit four-month highs in afternoon trade today even as India grappled to contain the rising number of coronavirus cases. While Sensex rose up to 640 points to 36,661, Nifty climbed 204 points to 10,811 in afternoon trade.

Sensex, Nifty hit four-month highs amid rising Covid-19 cases; here's why

3. 02 PM: Market Update

Of 30 Sensex stocks, 27 were trading in green. On Nifty, top gainers were M&M (6.67%), Hindalco (4.85%), Tata Motors (4.16%) and Bajaj Finance (4.04%).

2.55 PM: Rupee ends lower

Rupee ended at 74.67 per US dollar against Friday's close of 74.63 per US dollar.

2. 34 PM: Market Update

Domestic benchmarks climbed higher by Monday's afternoon session, on back of positive global equities. Sensex climbed 447 points higher to 36,469 and Nifty rose 151 points to 10,758.

2. 15 PM: TCS shares gain ahead of earnings

Shares of TCS jumped 3.18% to an intraday high of Rs 2269 on Monday as the company plnas to annoucne the Q4 results o June 10. In another update company said it has successfully deployed TCS DynaPORT, a state-of-the-art terminal operating system at Tilbury2 Ro-Ro, Forth Ports' latest unaccompanied freight ferry terminal opened recently in London. TCS implemented this solution on schedule, 100% virtually during the COVID-19 lockdowns, leveraging the Secure Borderless Workspaces (SBWS) model.

1. 46 PM: Shares of IndusInd Bankgains over 4%

Shares of IndusInd Bank were trading as the top gainer, rising over 4% on Monday after lender announced that it's net advances jumped 4% YoY to Rs 2 lakh crore as on 30 June, while the deposits grew by 6% to Rs 2.11 lakh crore.

1. 32 PM: Adani Transmission stock up 2.8%

Adani Transmission stock price touched an intraday high of Rs 268.8, rising 2.87% on BSE and NSE today after the company said it acquired 'Alipurduar Transmission Limited' from Kalpataru Power Transmission .

Meanwhile, Kalpataru Power Transmission's shares gained as much as 7% to the intraday high Rs 250.8 on the BSE.

1.12 PM: ICICI Bank share price rises 2%

Shares of ICICI Bank almost 2% higher on Monday's early trade after the private sector lender said its board plans to meet on Wednesday, July 8, 2020, to discuss and consider the proposal of raising funds.

Following the news, ICICI Bank share price opened at the intraday high of Rs 368, rising 1.9% as against the earlier closing price of Rs 361 on BSE. The stock also touched a day's low at Rs 361.35 today.

1. 03 PM: Steel Strips share gain over 1.5%

Steel Strips Wheels share price gained over 1.5% after the firm said it has bagged firm exports orders for over 119,000 wheels for US Caravan Trailer Market to be executed in the month of August from its Chennai plant. This is the largest monthly order from one customer, it added.

12.44 PM: Indian Energy Exchange shares gain over 4%

Shares of Indian Energy Exchange touched an intraday high of Rs 195.6, rising 4.13% on Monday after the electricity market at the Indian Energy Exchange witnessed a total trade of 4790 MU in June '20 recording a 5% YoY increase, despite the national peak demand registering a 10% YoY decline during the month

12.23 PM: Nifty outlook opinion

Expressing today's outlook for Nifty, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking) said,"Technically, the bullish structure remains intact as long as we are trading above 10300-10200 and ideally we could have asked to trail stop losses at these levels. Theoretically it may be correct but practically risk-reward is not favourable following this strategy and hence, we advice staying light and wait for further developments. If we manage to go beyond 11000, we would see next leg of the rally and there we can aggressively start participating again."

12.09 PM: Rupee rises today

Indian rupee, the local currency gained 14 paise to 74.52 per dollar on Monday amid weakness in the greenback and gains in the domestic equity market. Besides positive equities, steady crude oil prices, foreign fund inflows also supported the local unit.

The rupee opened at 74.53 per dollar, and gained some ground to touch 74.52, registering a jump of 14 paise over its previous close of 74.66 on Friday.

Rupee gains 14 paise to 74.52 amid weak dollar, positive equity market

11. 41 AM: RIL shares hit 52-week high

RIL share price hit 52-week high in early trade on Monday after the Mukesh Ambani-led launched its video conferencing platform JioMeet to take on the likes of Zoom, Google Meet, and Microsoft Teams. JioMeet app can support as many as 100 participants in a single video call. No codes or invites will be needed for the call to begin. The call will be free of cost. Also, the free call can be done uninterruptedly for up to 24 hours.

Another factor taking the stock to all-time high is the firm attracting 12 investments in 11 weeks raising  Rs 1,17, 587.5 crore from leading global investors. The stock gained 2.55% today, a trading session after Intel Capital, investment arm of Intel Corporation said it would invest Rs 1,894.50 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

RIL share hits all-time high, market cap tops Rs 11.50 lakh crore

11.23 AM: HDFC Bank share price gains over 3%

HDFC Bank share price gained in early trade today after the private sector lender said its advances rose 21 percent year-on-year (YoY) in the April-June quarter to Rs 10,04,500 crore against Rs 8,29,700 crore in the year-ago period. In Q4 FY20, advances stood at Rs 9,93,700 crore.

Share of HDFC Bank was among the top Sensex gainers climbing 3.32% to Rs 1,109 compared to the previous close of Rs 1,074 on BSE. On March 11, the stock closed at Rs 1,112 on its path to hit 52 week low of Rs 738.90.  Since then, the share has traded below Rs 1,100 mark. 

HDFC Bank share reclaims Rs 1,100 mark after four months; here's why

11.07 AM: Nifty outlook

Reliance Smart Money in its daily technical report said," As per the current set-up, we believe the index will either remain sideways or it witness near-term decline. In case of fall, the index will initially find supports at around its upper band of the range and then at around its lower band, which are placed at 10,440 and at 10,180 levels, respectively. Any stable move above 10,650 mark, will accelerate the up-move. This could lead the index towards its long-term moving average 200-day SMA (10,891 level).

As for the day, support is placed at around 10,440 and then at 10,265 levels, while resistance is observed at 10,650 and then at 10,740 levels.

10. 40 AM: Sovereign Gold Bond to open for subscription today

The Sovereign Gold Bond Scheme 2020-21-Series IV, with an issue price of Rs 4,852 per gm will be opened for subscription for the period between July 6 and July 10.

Sovereign Gold Bond scheme opens for subscription: Five things to know before you invest

10. 34 AM: Top gainers

HDFC Bank, IndusInd Bank, IT, Bajaj Finance and NTPC were among the top gainers today while HUL and Bajaj Auto were among the losers.

10. 23 AM: Rupee opens higher

Indian rupee opened higher by 14 paise at 74.50 per dollar on Monday against the previous close of 74.64, amid positive momentum in the domestic equity market.

10. 13 AM:Technical outlook

Nifty has been consistently moving higher in the last few sessions, making higher tops and higher bottoms. As per technical indicators, the support for the index is placed around 10,500 to 10,350 level, its resistance is now at 10,750 and 10,820 levels.

Nifty has retraced 68.2 per cent of the sharp fall seen between January-March 2020, said HDFC Securities in its monthly outlook and added that "On its weekly timeframe, Nifty shows intermediate uptrend intact, however, trades near multiple resistances."

9.45 AM: Earnings today

Suzlon, NBCC, IFB Industries among others will report quarterly result today.

9.35 AM: Stocks to watch today on July 6

RIL, IndusInd Bank, Coal India, Indiabulls Housing, National Fertilizers, Hindustan Oil, Sobha among others are the top stocks to watch out for in Monday's trading session

Stocks in news: RIL, Coal India, HDFC Bank, National Fertilizers, Edelweiss, Sobha

9. 28 AM: Opening bell

Sensex and Nifty opened on a bullish note on Monday, extending last week's gains amid positive global equities.

Sensex climbed 258 points higher to 36,200 and Nifty rose 97 points to 10,704.

9.05  AM: Pre-open session

Sensex climbed 307 points higher to 36,328 and Nifty rose 103 points to 10,710 at pre-open session of Monday.

9.00 AM: Nifty outlook

Commenting on Nifty's technical indicators, Rohit Singre, Senior Technical Analyst at LKP Securities said," Index has good resistance near 10700-10800 zone and one can use mentioned levels to book profit on every rise, good support is shifted at 10500-10400 zone so until holding above said levels we may see strength to be there".

8.56 AM: Top 10 firms add Rs 1.37 lakh crore in market cap

The 10 most valued Indian companies together added a whopping Rs 1,37,508.61 crore in market valuation last week, with TCS and RIL emerging as the biggest gainers. The market valuation of Tata Consultancy Services (TCS) jumped Rs 31,294.89 crore to Rs 8,25,149.40 crore. Reliance Industries Limited (RIL) added Rs 28,464.11 crore to take its market valuation to Rs 11,33,168.55 crore.

TCS, Reliance biggest gainers

8. 50 AM: SGX Nifty

SGX Nifty was rising 90 points higher at 10,690, indicating positive trend in domestic grounds today

8. 48 AM: Global equities today

Global market trends will continue to dictate the domestic markets, in the absence of any major domestic event. Where Wall Street ended on a positive note before its holiday weekend, concerns over rising US coronavirus cases took a toll on European indices that closed in the red. Ahead of holiday due to US Independence Day, US futures were trading mildly in red.

8. 41 AM: Rupee outlook

On rupee's jump to 3- month high at the opening bell, Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking said,"The bias for the rupee has shifted towards appreciation, given the risk-on environment and significant flows in the market, and as strong data sets from the U.S. have weighed on the dollar. That should lead to the rupee testing levels of 74.30 and 74 eventually, having said that, we believe the RBI will step in at regular intervals, and will not be comfortable to see the rupee appreciate beyond the 73.90 to 74.00 band."

8.35 AM: Rupee Closing

In line with the equity market, the rupee appreciated and closed at three months high of 74.64 against the US dollar, tracking weakness in the greenback and gains in the domestic equity market.

8. 30 AM: Closing

Sensex and Nifty extended gains for the third straight session and closed higher on Friday. Where Sensex ended at 36,021 points on Friday with a gain of 2.4 per cent during the week, Nifty closed with a gain of 2.17 per cent at 10,607. Sensex gained 1,104 points in the last 3 sessions, while Nifty climbed 305 points.

Sensex reclaims 36K mark, Nifty above 10,600; Sun Pharma, Cipla top gainers

8. 20 AM: What to expect from market

Indian equities have risen recently, enjoying a swift recovery from its March lows, tracking positive trends from global markets. Increasing optimism over a safe and effective COVID-19 vaccine and progress of vaccine trials also helped ease traders' concerns. Investor sentiments were further boosted by a revival in key economic data globally, indicating that economic activity might be stabilising.

Expressing views over the trends investors will focus in the coming week, Ajit Mishra, VP-Research, Religare Broking said," Participants will be eyeing key macro indicators like IIP data, CPI and WPI inflation. Besides, the progress of monsoon and developments on the COVID front will also be in focus."

Here are the top 10 factors that will lead the stock market in the upcoming week

8. 10 AM: Gold vs Sensex

A lumpsum investment of Rs 1 lakh at the start of June 2005 would have grown to Rs 5.2 lakh by June-end this year in equities (using Sensex as proxy), whereas the same amount would have fetched you Rs 7.7 lakh if invested in gold for the same duration.

Gold outperforms Sensex; spikes 672% in 15 years

8. 00 AM: Trading sentiments for the week

Trading sentiment in the equity markets this week will be guided by global cues, COVID-19 trends and quarterly earnings by market heavyweight TCS, analysts said.

Investors will also monitor movement of rupee and crude oil as well as progress of monsoon, they added.

Global cues, COVID-19 trends, TCS Q4 earnings major drivers for markets this week: Analysts